LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
THIRD SEMESTER – APRIL 2012
CO 3500 – BUSINESS LAW – I
Date : 24-04-2012 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
PART – A
Answer ALL the questions: (10×2=20)
- What is an Agreement? Explain with an example.
- What constitutes an Offer?
- Who are ‘incompetent to Contract’?
- Give the meaning of ‘privity to Contract’.
- Write any four agreements contrary to public policy.
- Mention the characteristics of a Contingent Contract.
- Who must perform the Contract?
- State any two differences between Contracts of indemnity and guarantee.
- When is a Pledge by non-owners valid?
- Who is a Del-Credere Agent?
PART – B
Answer any FIVE questions: (5×8=40)
- How are Contracts classified?
- Enumerate the legal rules as to Acceptance.
- State the exceptions to the rule that Contracts without consideration is void.
- What is assignment of Contract? How does it take place?
- What are Quasi-contracts? Enumerate the different types of Quasi-contracts.
- State the circumstances in which a Surety is discharged from liability.
- Explain the duties of a Bailee under bailment.
- Mention the rights of an Agent against the Principal.
PART – C
Answer any TWO questions: (2×20=40)
- “When there is no consent there is no Contract.” Discuss with reference to flaws in consent.
- What is a void agreement? Enumerate expressly declared void agreements under the Indian Contract Act.
- What remedies are available to an aggrieved party for breach of Contract?
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