LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com.

TH 07

DEGREE EXAMINATION –COMMERCE

THIRD SEMESTER – APRIL 2007

CO 3500 – BUSINESS LAW – I

 

 

Date & Time: 21/04/2007 / 1:00 – 4:00            Dept. No.                                                     Max. : 100 Marks

 

 

 

Section – A

 

1. Answer all the questions: 10 x 2 = 20 Marks

 

1. What is an unenforceable contract?
2. What is the object and nature of the law of contract?
3. Mr. A tells his wife that he would commit suicide, if she does not transfer her personal assets to him.  She does so under the threat.  Can the wife avoid the contract?  State your reasons.
4. When does a claim of Quantum Meruit arise?
5. What is aQuasi contract?
6. Who is a substituted agent?
7. X & Y go into a shop.  X says to the shopkeeper, “Let Y have the goods and if he does not pay, I will”.  What kind of contract is this?  Would it make any difference in your answer if X said to the shopkeeper, “Let Y have the goods, I will see you paid”?
8. Define Bailment.
9. Give any four examples of Non-mercantile agents.
10. What do you mean by Maintenance and Champerty?

 

Section – B

 

1. Answer any FIVE questions only: 5 x 8 = 40 Marks

 

1. Explain in detail the various types of contract.
2.  Condense the legal rules relating to communication of acceptance.
3. What do you understand by the term “capacity to contract”?  What is the effect of agreements made by persons not qualified to contract?
4. Briefly explain the requisites of valid tender.
5. State the conditions to be fulfilled before the Doctrine of Ratification can apply to an act of an agent.
6. What are the various ways by which agency is created?
7. Define Indemnity.  What are the rights of the Indemnity-holder?
8. Distinguish between wagering agreements and contingent contracts.

 

Section – C

 

III. Answer any TWO questions only:                                            2 x 20 = 40 Marks

 

1. “All agreements are not contracts but all contracts are agreements”.  Discuss the statement explaining the essential elements of a valid contract.
2.  Explain in detail the rights and duties of Bailor and Bailee.
3. Who is a Surety?  State the circumstances in which a surety is discharged from liability.

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