BCom In Accounting & Finance (BCAF) SEM II 2014 2015 2015 BUSINESS LAW Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 All agreements are not contract
2. Q2 Consideration means, “Something in Return”
3. Q3 A broker is mercantile agent
4. Q4 Under contract of sale the consideration must be money
5. Q5 A hire purchase agreement is governed by sole of goods act. 1930
6. Q8 6. The Negotiable instrument act came into force on April 1 1882
7. Q7 7. A bill of exchange must be in writing
8. Q8 A bill of exchange must be signed by the drawer
9. Q9 Consumer protection act provides protection to the consumers
10. Q10 Monetary jurisdiction under District form is Rs. 20 lakhs
11. Q1 B) Fill in the clanks with appropriate word.( Any 7) 7 marks
12. Q1 The parties to the contract must be (Competent, incompetent)
13. Q2 A void agreement is (inoperative, operative)
14. Q3 Any person who has not completed years of age is minor. (18,16)
15. Q4 Delivery of goods as security for Debt is (Pledge, sale)
16. Q5 Under contract of sale transferred. (Property in goods, name)
17. Q6 To constitute a contract of sale there must be parties. (two, four)
18. Q7 An unpaid seller has a right of resale when goods are . (perishable, Durable )
19. Q8 A promissory note must be in ( writing, Oral)
20. Q9 Ina bill of exchange the order to pay must be (unconditional, conditional)
21. Q10 is one of the consumer rights. (Education, Business)
22. Q22 A) Define contract. Explain essentials of valid contract. 8 marks
23. Q3 Discuss the consent as an essential element of a valid contract. When is consent said to be free consent? contract of guarantee . Explain essentials of a contract of guarantee. (8) ') Define Bailment. Explain duties and liabilities of a Bailor. (7) 7 marks
24. Q3 A) Explain the difference between sale and agreement to sell. ) What are the rights of unpaid seller? Explain . (7) Explain the rights and duties of the buyer. (8) Explain the rights and duties of seller. (7) 8 marks
    • A) What is promissory note? Explain the characteristics of promissory note. Discuss the distinction between a cheque and a bill of exchange. (7) 8

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