Business Law Regular Previous Year Question Paper Year 2006 : IInd Year

(Commercial Law)

Q. 1. (a) “A proposal cannot be accepted before it is commu¬nicated.” Explain this statement with the help of an example. 5

(b) “Conditional acceptance is not valid in the eyes of law.” Explain this statement and state the rules of a vaild acceptance.
Answer :

Q. 2. (a) “An agreement with a minor is void ab-initio.” Examine this statement along with the exceptions, if any. 10

(b) A sold his car worth Rs. 80,000 to B for Rs. 10,000 due to pressing needs. Can A get back his car after paying Rs. 10,000 to B on the ground of inadequacy of consideration ? Decide with reasons. . Answer :

Q. 3 (a) Under what circumstances a seller can transfer a better title of goods to the buyer ?
(b) Discuss the ‘right of lien’ of an unpaid seller of goods.
Answer :

Q. 4. (a) “The Indian Partnership Act has effectively ensured the registration of firms without making it compulsory.” Explain.
(b) Explain the circumstances under which the court can order dissolution of a firm. Answer :

Q. 5. Explain the following ;
(a) ‘Not negotiable’ crossing 5
(b) Payment in due course 5
(c) Agency by ratification 5
Answer :

(Banking Law & Practice)

Q. 6. Define the terms ‘Banker’ and ‘Customer’. Explain the relationship between banker and customer. Answer :

Q. 7. (a) What precautions should a bank take before open¬ing the account of a minor and a partnership firm ? 5,5

(b) What is meant by ‘Fixed Deposit Receipt’ ? Can it be encashed before its maturity ? Explain. Answer :

Q. 8. Define a Negotiable Instrument. Explain its characte¬ristics. List its presumptions. Answer :

Q. 9. Distinguish between the following :
(a) Pledge and Hypothecation 5
(b) Negotiation and Assignment 5
(c ) Promissory note and a bill of exchange 5
Answer :

Q. 10. Explain the following :
(a) Material alteration in a negotiable instrument 5
(b) Holder in due course 5
(c) Dishonour of cheque doe to inadequate funds 5

(Company Law)

Q. 11. What are the restrictions on a private company and what are the privileges available to a private company ? 5,10
Answer :

Q. 12. (a) “A certificate of incorporation is a conclusive evidence that all the requirements of the Companies Act regarding registration of a company have been complied with.” Explain.

(b) Write a note on pre-incorporation contracts. 5
Answer :

Q. 13. (a) Distinguish between forfeiture and surrender of shares. Under what circumstances each of them is valid ? 10

(b) Define ‘Call’ and discuss the essential requisites of a valid cell.
Answer :

Q. 14. (a) Explain the circumstances under which the court will order winding up of a company. 10

(b) Distinguish between a managing director and a whole time director.
Answer :

Q. 15. Write notes on the following:
(a) Annual general meeting 5
(b) Doctrine of ultra vires 5
(c) Special resolution 5
Answer :

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