B.Com. (Financial Management) SEM III 2022 2023 Oct 2023 BUSINESS LAW Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 (a) Fill in the banks ( Any 8) 8 marks
2. Q1 An agreement which is not enforceable by law is called agreement
3. Q2 Unpaid seiler is the person who has not received
4. Q3 The Indian Contract Act
5. Q4 In acontract of indemnity, minimum parties are necessary
6. Q5 A minor is a person below
7. Q6 The word Negotiable
8. Q7 Sales of goods act exclusively deals with
9. Q8 Sales of Goods Act came into force in the year
10. Q9 In case of Promissory Note maker of the instrument is called
11. Q10 A proposal upon acceptance becomes a
12. Q1 B state whether following statements are True or False (Any 7) 7 marks
13. Q1 The life of cheque is five months from the date of issue
14. Q2 Every agreement is a contract
15. Q3 Bill of exchange is having three parties
16. Q4 Void contract is enforceable by law
17. Q5 General insurance is a example of contract of indemnity
18. Q6 A person who promise to pay the said sum is calied as promise
19. Q7 Existing goods means goods present at the time of contract of sale
20. Q8 Quasi contract is not a type of contract
21. Q9 Risk prima facie passes with property
22. Q10 Offer is the first step to form a contract
23. Q2 a) Explain the legal rules regarding offer? 8 marks
    • b) Explain rights of Bailor in a contract of Bailment. 7
    • c) Explain the essentials characteristics of promissory notes and kinds of promissory
    • d) Discuss the types of crossing of cheque 7
24. Q3 a) Who is Competent to contract, explain the effects of a Mincrs agreement 8 marks
    • b) Explain the exception to the rule regarding consideration in a contract. 7
    • c) Explain in brief the remedies for breach of contract 8
    • d) What is contract of guarantee? Explain the essentials elements 7
25. Q4 a) Explain the essentials of negotiable instrument. 8 marks
    • b) Define pledge. Explain the rights and duties of Pawnor and Pawnee. 7
    • c) Explain the essentials of a contract of sale and state classification of goods. 8
    • d) Briefly explain the implied conditions in a contract of sale. 7
26. Q5 a) Distinguished between sale and agreement of sale 8 marks
    • b) Explain the meaning of discharge by breach of contract and explain discharge by operation of law. (7)
27. Q5 Write short Notes (Any 3) 15 marks
    • a) Fraud
    • b) Kinds of promissory notes Classification of goods
    • d) Rights of an unpaid seller against the buyer
    • e) Rights of stoppage in transit

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