LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

FOURTH SEMESTER – APRIL 2012

CO 4503/CO 4501 – BUSINESS LAW & VAT

 

 

 

Date : 24-04-2012              Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

ANSWER ALL THE QUESTIONS:                                                                            (10×2=20 marks)

 

1. Define a contract of sale.
2. What are future goods?
3. Give the meaning of the terms ‘condition’ and ‘warranty’.
4. Who is a gratuitous carrier?
5. Give the meaning for re-insurance and double insurance.
6. What is VAT?
7. What is meant by CAVEAT EMPTOR?
8. Write a note on symbolic delivery.
9. What is right of lien?
10. Give the meaning for the terms ‘insurance’ and ‘assurance’.

PART – B

ANSWER ANY FIVE QUESTIONS:                                                                          (5×8=40 marks)

11. Explain the essentials of a valid contract of sale.
12. Explain the various implied conditions.
13. Bring out the rights of a common carrier.
14. Describe the objectives of the Consumer Protection Act.
15. Explain the objectives of VAT.
16. Explain the circumstances under which sale of goods by non-owners is valid.
17. Briefly describe the different kinds of contract of insurance.
18. Discuss the rights of the consumers.

PART – C

ANSWER ANY TWO QUESTIONS:                                                                    (2×20=40 marks)

19. Distinguish between a sale and an agreement to sell.
20. Explain the fundamental principles of Insurance contract.
21. Discuss the liabilities of railway administration as carrier of goods.

 

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