B.Com. (Accounting and Finance) SEM II ATKT F.Y.ACC.FIN SEM II OCT.18 (CHOICE BASE)(R2016 17)BUS.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 A minor borrows money by representing himself as a major from a money lender. The money
   • a) can sue for fraud cannot recover the money
   • c) can recover the money on the minor attaining the age of majority d) guardian is liable
3. Q2 A contract of insurance is a
   • a) contract of guarantee b) contingent contract c) wagering d)unilateral agreement
4. Q3 Discharge of a contract means
   • a) termination of a contract b) postponing the contract discharge of parties d) aandc
5. Q4 Meaning of deliverable state is
   • a) seller has to do something b) buyer has to do something c) seller has done what is required
   • d) state at which buyer cannot refuse to take possession
6. Q5 Which is not included in discharge by agreement ?
7. Q6 Which right is available to an unpaid seller?
   • a) right of lien b)stoppage in transit. c) d_)all of the above
8. Q7 Maturity of an instrument
   • a) date on which the instrument is created
   • b) date on which the instrument is payable
   • c) date on which the instrument is signed
   • d) none of the above
9. Q8 Who is not a party to a Cheque?
   • a) drawer b) acceptor
10. Q9 Noting is done by
    • a) Parties themselves b) judge of the high court c) district judge d) notary public
11. Q10 Express Condition may be in
    • a) writing b) oral c) partly oral partly all of them State whether the following statements are True or False (Any 7 ): 7 mks
12. Q1 Social obligation will not create legal relation
13. Q2 An offer can be in the form of not doing or abstaining
14. Q3 A minor is a person below 16 years
15. Q4 Undue influence involves the use of mental influence
16. Q5 An insolvent is exempted from performance of a contract
17. Q6 In acontract of indemnity, minimum 3 parties are necessary
18. Q7 In pledge movables is given on security for payment of debt or performance of the promise
19. Q8 Hire purchase is governed by Sale of Goods Act, 1972
20. Q9 Negotiable instrument can be in terms of money, kind or both
21. Q10 Person who sells the goods is not a consumer
    • (A) Explain in brief the various kinds of contracts under Indian Contract Act, 1872 8 mks
    • (B) Explain the rules relating to valid acceptance 7 mks
    • (C) State the essentials of a Pledge 8 mks Explain Agency by Holding Out and Agency by Necessity 7 mks
    • (A) Explain the Doctrine of Caveat Emptor and state its exceptions 8 mks
    • (B) Discuss the rules regarding passing a property under the Sale of Goods Act 7 mks
    • (C) Who is unpaid seller and what are the various rights to which an unpaid seller is entitled to under the Sale of Goods Act? 8 mks
    • (D) Explain “Sale” and distinguish it from ‘Agreement to Sell” under the Indian Sale of
22. Q1 V (A) Distinguish between a Promissory Note and a Bill of Exchange. 8 mks
    • (B) Explain the Types of Crossing of a Cheque. 7 mks
    • (C) Explain the meaning of a and state the rights of a ‘Holder in due Course’ 8 mks
    • (D) Under what circumstances a Cheque is considered as dishonoured? 7 mks
    • Q.V. (A) Define and Explain the following terms used in the Consumer Protection Act: 8 mks
    • b) Manufacturer
    • c) Complaint
    • d) Service
    • (B) Who is a Consumer and who is not a Consumer under the Consumer Protection Act, 1986? 7 mks
    • (C) Short Notes (any 3): 15 mks 1). Voidable Contract 2) Essentials of a Fraud 3) Duties of Bailee
23. Q4 Goods sent on approval or “on Sale or Return” 5) Consumer Dispute

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