LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
THIRD SEMESTER – APRIL 2011
CO 3500 – BUSINESS LAW – I
Date : 12-04-2011 Dept. No. Max. : 100 Marks
Time : 1:00 – 4:00
SECTION – A
ANSWER ALL THE QUESTIONS (10X2=20)
- What is consensus ad idiom?
- Differentiate between unilateral contract and bi lateral contract.
- What is a cross offer?
- Explain the term coercion.
- Write a note on bilateral mistake.
- What is wager? Give an example.
- What do you mean by restitution?
- What is novation?
- Write a note on rescission?
- Define bailment.
SECTION – B
ANSWER ANY FIVE QUESTIONS (5X8=40)
- Classify contracts according to formation and performance.
- When does an offer come to an end?
- “A minor liable on a contract for necessaries”. Discuss.
- What is a contingent contract? Explain the essential characteristics of a contingent contract.
- By whom contracts must be performed? Explain.
- “Discharge by supervening impossibility”. Discuss.
- Differentiate between a contract of indemnity and a contract of guarantee.
- Bring out the duties of a bailee.
SECTION – C
ANSWER ANY TWO QUESTIONS (2X20=40)
- Explain on the essential elements of a valid contract.
- Briefly describe the various kinds of quasi contracts.
- When consideration or object is unlawful? Discuss.
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