BCom In Accounting & Finance (BCAF) SEM II 2022 2023 Apr 2023 F BUSINESS REGULATORY FRAMEWORK Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) Answer the following multiple choice questions. (Any 08) 8 marks
   • 1. Ina valid contract, what comes first? contract is made by spoken words
   • 3. The consideration must be and lawful
   • 4. The sale of goods act came into force on
   • 5. Error of Judgment means
   • 6. which is not induced in discharge by agreement
   • 7. of Indemnity minimum Parties are necessary
   • 8. Sale is a Contract
   • 9. Person acting in place of another is called
   • 10. Consumer protection act came into force in
2. Q1 B) State whether the following statements are True or False. (Any 07) 7 marks
   • 1. enforceable by law is a contract
   • 2. Consideration may be in cash or kind
   • 3. Agreements against public policy are void agreement
   • 4. A minor’s agreement is void
   • 5. purchase, payment done in instalment
   • 6. Auction is nota sale but an invitation to offer
   • 7. of indemnity is a contingent contract
   • 8. Bailment can be of immovable goods
   • 9. A negotiable instrument may be oral
   • 10. Consumer is a person who buys goods wi consideration / Q.2. Answer the following
   • a) Define contract. What are the different kinds of contract? 8
   • b) What is consideration? Explain the rules regarding consideration. 7
   • c) Define fraud. Explain its essentials. 8
   • d) Who is competent to enter into a contract? Write effects of minor’s agreement. 7
3. Q3 Answer the following
   • a) Define contract of indemnity. What are the essentials? Explain the duties and rights of a bailor (07) 8
   • c) What is contract of agency? Explain the various kinds of agent. 8
   • d) Define contract of sales. Explain the essential of such contract. 7
4. Q4 Answer the following
   • a) Who is an unpaid seller? What are his rights? 8
   • b) Define a promissory note and explain the essentials. 7
   • c) Distinguish between cheque and bills of exchange. 8
   • d) Define negotiable instrument. Explain the essentials negotiable instrument. 7
5. Q5 A) Answer the following
   • a) What are the objects of the consumer protection act,19&5? 8
   • b) Explain the various unfair trade practices. 7
6. Q5 B) Write short notes on: (Any 3) 15 marks
   • 1) Essentials of contract
   • 2) Types of offers
   • 3) Auction sale
   • 4) Types of cheque
   • 5) Contract of guarantee

Read from the scan above, so a character or two may differ. The scan is the original.