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Important Questions for "business law":

[1]

  1. Who is an outgoing partner?
  2. Explain the statement 'Sharing of profit is not conclusive evidence of partnership.'
  3. Can a minor be a party to an Instrument? Discuss.

[2]

  1. Explain why acceptance to an offer must be absolute and unqualified.
  2. Define 'Breach of Contract' and its remedies.
  3. Define negotiation, describe its nature and types, and differentiate it from the assignment of a negotiable instrument.

[3]

  1. The liability of surety is coextensive with that of principal debtor. Comment.
  2. Give the difference between Bill of Exchange and cheque.
  3. What are the rules as to the passing of property from the seller to the buyer in a contract for the sale of goods?

[4]

  1. Who is an unpaid seller?
  2. Give the definition and essential features of Bill of Exchange. Give the difference between Bill of Exchange and Cheque.
  3. What are the various circumstances in which a firm may be dissolved? Upon dissolution, how are the accounts settled?

[5]

  1. What is the difference between 'Sale' and 'Agreement to sale'?
  2. Define bailment and discuss the rights and obligations of finder of goods.
  3. Explain the rule that a seller cannot convey a better title to the buyer than he himself has, along with exceptions under the Sales and Goods Act.

[6]

  1. What is an offer? Explain the types.
  2. Comment on the statement 'A contract without consideration is void'.
  3. State the essentials of a contract of sale under the Sale of Goods Act.

[7]

  1. Explain the rights of bailee in detail.
  2. Explain different types of partnership and distinguish between partnership and limited liability partnership.
  3. Explain the process of dissolution of partnership.

[8]

  1. Describe the concept of legal liability in business.
  2. Discuss vicarious liability among partners.
  3. Define negotiable instruments and differentiate between bill of exchange and cheque.

[9]

  1. Explain the features of Partnership.
  2. Define bailment and state the duties of a bailor and a bailee.
  3. What do you mean by 'Sale by Auction'? Discuss the rules regarding 'Auction Sale'.

[10]

  1. An agreement enforceable by law is a contract. Explain this statement illustrating the essential elements of a valid contract.
  2. Define a contract of sale and bring out clearly the distinction between a sale and an agreement to sell.
  3. Differentiate between condition and warranty.

[11]

  1. Distinguish between a contract and an agreement.
  2. Define contract of guarantee. Distinguish between a contract of indemnity and a contract of guarantee.
  3. Define agency. How is it created and terminated?

[12]

  1. Explain how a bailment may result without the owner actually delivering the goods to the bailee.
  2. What are the various ways in which a contract may be discharged?
  3. Write short notes on Discharge of Surety.

[13]

  1. What do you mean by a contract of sale?
  2. Explain the statement: 'All contracts are agreements, but all agreements are not contracts.' Bring out clearly the essentials of a valid contract.
  3. What are the provisions of penalty for the contravention of provisions of FEMA?

[14]

  1. Distinguish between particular lien and general lien.
  2. Explain the various ways in which a contract may be discharged.
  3. What do you understand by acceptance for honour and payment for honour? What are the rights and liabilities of acceptor for honour?

[15]

  1. What do you mean by contractual capacity?
  2. Define a contract of guarantee. What are the essentials of a valid contract of guarantee?
  3. Define the term 'agency'. State the rights and duties of an agent.

[16]

  1. Contract is an agreement enforceable by law.
  2. What is the difference between quasi contract and ordinary contract?
  3. Define consent. When is consent said not to be free?

[17]

  1. Explain the statement 'All contracts are agreements but all agreements are not contracts.'
  2. What do you mean by Unpaid Seller? Discuss the rights of unpaid seller.
  3. Distinguish between 'Holder' and 'Holder in Due Course'. What are the privileges of a holder in due course under Negotiable Instrument Act?

[18]

  1. What is the meaning of implied contracts?
  2. What is an Agency? Define agent and principal. Distinguish between sub-agent and substituted agent.
  3. What is Partnership Deed? How can the dissolution of partnership be enforced?

[19]

  1. What is Partnership deed? Describe the contents of it.
  2. Discuss the effect of mistake on contract.
  3. Define Pledge. How does it differ from bailment? In what circumstances can a person other than the owner pledge the goods?

[20]

  1. What is meant by negotiation? How is it different from assignment?
  2. Define Contract. Explain the essentials of a valid contract. How can an offer be made?
  3. Define Consent. When is consent said to be free? What is undue influence?

[21]

  1. What is an offer? What are its different types?
  2. Explain the rule of Caveat Emptor. Also explain its exceptions.
  3. Explain the meaning of a holder and holder in due course. What are the privileges available to holder in due course?

[22]

  1. What is acceptance? How can acceptance be made?
  2. Explain Limited Liability partnership. Define Eligibility to be Partner and Relationship of Partners.
  3. How can an acceptance be revoked? Is there any limit of time after which an acceptance cannot be revoked?

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