1. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS)

END SEMESTER EXAMINATIONS-APRIL-2013.

B.COM  – II SEMESTER(TRAVEL & TOURISM)

BUSINESS LAW

TIME : 3HRS                                                                                                             MARKS: 100

Section-A

1. Read the statements mentioned below and quote the word or phrase in law that represents the same. (10×1=10)

 

1. An order of the court restraining the wrong doer from doing, or continuing, the

wrongful act complained of . It is usually granted to enforce negative stipulations in cases where damages are not adequate.

 

2. The rule of law or the underlying principle upon which a decision is founded and which gives it the element of authority.

 

3. The relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other and uses that position to obtain an unfair advantage over the other.

 

4. A false statement which the person making it honestly believes to be true or which he does not know to be false. It also includes non-disclosure of a material fact or facts without any intent to deceive the other party.

 

5. An agreement whereby one party is to assist another to bring an action for recovering money or property , and is to share in the proceeds of the action.

 

6. Acceptance of a lesser fulfillment of the promise made in discharge of the whole debt.

 

7. When (i) a new contract is substituted for an existing one between the same parties or

(ii) a contract between two parties is rescinded in consideration of a new  contract being entered into on the same terms between one of the parties and  a third party.

 

8. One who is entrusted with the possession of goods and who has the authority to buy, sell or otherwise deal with the goods or to raise money on their security. He has a general lien on the goods.

 

9. Any document issued which includes any notices, circular, advertisement or any other document inviting offers form the public for the subscription or purchase of any shares in, or debentures of a body corporate.

 

10. An act in which whoever with the intent to cause or knowing that it is likely to cause wrongful loss or damage to the public or any information residing in a computer resource or diminishes value or utility or affects it injuriously by any means.

 

Section – B

1. Answer following questions    (5×2=10)

Read the cases mentioned below and answer the questions that follow by not only quoting the respective law but also giving a suitable  explanation for the same.

 

11. A sent a telegram to B,” Will you sell your car? Quote lowest price.” B Sent a reply. “Lowest price Rs. 25,000.” A sent a second telegram to B, “I agree to buy your car for Rs. 25,000.” B thereafter refuses to sell.

• Can A compel B to do so?
• (b) Is there a contract between A and B?

 

12. Ravi promises to make a gift of Rs. 3,000 towards the repairs of a temple. The trustee of the temple on the faith of his promise incurs liabilities. Ravi does not pay. Can the trustee recover the promised amount from Ravi?

 

13. G pays Rs. 500 to A, a civil servant employed in a Government department, in consideration of A’s promise that a Government contract which is at the disposal of his department will be placed with G. Before this can be done, A is transferred to another department. G now wishes to reclaim from A Rs. 500 paid to him. Will G succeed?

 

 

14. ‘M’ made a contract with ‘N’ for supplying to him certain goods at a place outside the State when there was no prohibition against sending the goods outside the State. Subsequently prohibition was imposed on the sending of those goods to that place and the railway booking was consequently closed. M, failed to supply the goods . N sued M for damages for non-supply of goods. M, inter alia, pleaded that the contract became impossible of performance and so he was absolved from performing it. Will M succeed in his said defence?

 

 

15. X commenced a periodical publication called, the Armour, and engaged Y to write a volume on ancient armour for it. For this Y was to receive the sum of Rs. 10,000 on completion of the work. When he had completed a part, but not the whole of his volume, X abandoned the publication. Y sued X for recovery of the amount contracted for .Advise Y.

 

Section – C

 

• Answer the following questions .                                                              (10×2=20)

 

16. Who is a plaintiff?
17. Does a contract create a ‘Jus in Rem’ or a ‘Jus in personam’ Elaborate.
18. Explain the term ‘Obiter dictum’.
19. Differentiate between a void agreement and a void contact?
20. State what is meant by “Quantum Meruit’?
21. What is meant by ‘Power of Attorney’?
22. How is a ‘Factor’ different from a ‘Broker’?
23. Mention the minimum number of members to form a private and public company . Alos state the maximum number of member that they can have.
24. State briefly the laws relating to competence of parties to a contract.
25. Can a minor be a agent? If so will he be responsible to the principal?

 

Section – D

1. Answer any Four                      (4×5=20)

 

26. What are the Sources of Indian Business law?
27. When is consent said to be free and genuine?
28. How is a contract discharged by supervening impossibility?
29. Briefly explain the various modes by which an agency may be created.
30. Is a client hiring the services of an advocate considered to be a Consumer under the consumer protection act? Why? In light of the above bring out clearly as to who is a consumer and who are not consumers according to the act.
31. Elaborate the various types of cyber crimes.

 

 

Section – E

1. Answer any FOUR questions.                  (4×10=40)

 

32. What is an Offer? Explain the essentials of a valid offer.

 

 

 

33. Explain the exception to

• The doctrine of Privity of contract.
• ‘Ex Nudo Pacto Non Oritur actio’

 

34. How does the Memorandum of Association differ from the Articles of Association of a company? List the various contents of the Articles of Association of a company.

 

35. “The consumer protection Act seeks to provide speedy and simple redressal to consumer disputes. For this purpose there has been set up a quasi- judicial machinery at the District, State and Central levels”. With reference to the above statement explain the Composition, Appointment, Term of office and Jurisdiction of the various consumer protection agencies in the country”.

 

 

36. Elaborate the rights and duties of an agent.

 

37. What are the objectives of FEMA? Why was there a need to repeal FERA and substitute it with FEMA?

 

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