BCom In Accounting & Finance (BCAF) SEM II 2018 19 April 2018-19 BUSINESS LAW I Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A] Answer the following multiple choice questions. [Any 8] 8 mks
2. Q1 When a contract is performed by both the parties, the contract comes to an end
   • a) lapse of time b) discharge by performance
   • c) discharge by agreement d) discharge by breach
3. Q2 When an innocent party is claiming for monetary damages, it may
   • c) any of them. d) all of them
4. Q3 Which is not goods
5. Q4 Doctrine OF Caveat emptor places the burden on the
6. Q5 the lien of an unpaid seller depends on
   • a) title. c) ownership. possession and ownership
7. Q6 Suresh and Pawan go into a shop. Suresh says to the shopkeeper, Kamal, let Pawan have the goods, and if does not pay will. This is a
   • a) contract of guarantee b) contract of indemnity c) contract of surety d) Quasi- contract
8. Q7 Under the Negotiable Instrument Act, which of the following refers to written document by which a right is created in favour of some
9. Q8 For what term of imprisonment an offender under section 138 of the Negotiable Instruments Act can be
10. Q9 The right of subrogation in a contract of guarantee is available to the
11. Q10 Who is not a party to. a Cheque? State whether the following statements are True or False: (Any 7) 7 mks
12. Q1 Stranger to a contract cannot sue while stranger to consideration can sue
13. Q2 Where a party to.a contract does not suffer any loss on account of breach of a contract can never claim
14. Q3 A Contract once entered needs to be performed under all circumstances Any person who voluntarily makes a payment on behalf of another, can recover it
15. Q5 Death of a surety does not put an end to the contract of guarantee
16. Q6 Sale of Goods Act only deals with immovable property
17. Q7 Cheque is valid for the period of three months
18. Q8 Payee is the person to whom money is to be paid
19. Q9 Inacontract of sale, money is a consideration
20. Q10 Unascertained goods are same as generic goods
    • A) Define a Proposal and what are the essential requirements of a valid proposal? 8 mks
    • B) “No Consideration, No Discuss & State exception to the rule. 7 mks
    • C) Define the “Contract of Guarantee” and state the essential requirements of Contract of
    • D) Explain fully Agency by Ratification 7 mks
    • A) State the Distinction between Sale & Agreement to sell. 8 mks
    • B) Explain the Doctrine of Caveat Emptor & State its exception. 7 mks
    • C) Who is ‘Unpaid Seller’? What are his various rights under the Sale of Goods Act? 8 mks
    • D) What is an Auction Sale? What are the rules applicable to Auction Sales? 7 mks
    • A) What is a Bill of exchange? How does a Promissory Note differ from a bill of exchange? 8 mks
    • B) What is meant by a special crossing of a Cheque? How does special crossing differ from general crossing of a Cheque? 7 mks
    • C) State the various modes of Discharge of Negotiable Instrument. 8 mks
    • D) Write a note on Dishonor of Cheque. 7 mks
    • Q. Define a Consumer as per Consumer Protection Act and also state who is not a Consumer as per the Act. 8 mks
    • B) What are the Objects of the Consumer Protection Act, 1986? 7 mks
    • D) Short Note ( Any 3 ): 15 mks
21. Q4 Deficiency in Services 5) Consumer Dispute

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