St. joseph’s college of commerce (autonomous)
End semester examination – MARCH /april 2014
b.com (travel & tourism) – ii semester
BUSINESS LAW
Time: 3 hours Max. Marks: 100
SECTION – A
- Answer ALL the following questions. Each carries 2 marks. (10 x2 = 20 )
- Define the term ‘Ratio Decidendi’.
- What is an ‘Injunction’?
- Mention any four exceptions to the rule “Ex nudo pacto non oritur actio”.
- State any two circumstances when a person is deemed to be in a position to dominate the will of another.
- How is a ‘Factor’ different from a ‘Broker’?
- Define a ‘Consumer’
- Who can file a complaint according to the consumer protection act of 1986?
- Mention any two instances when a contract gets discharged by Supervening impossibility
- Distinguish between a Memorandum of Association and an Article of Association.
- Read the statements mentioned below and quote the word or phrase in law that represents the same.
- An incidential and collateral opinion which is uttered by a judge while delivering a judgment. It is a mere saying by the way, a chance remark, which is not binding upon the future courts, though it may be respected according to the reputation of the judge, the eminence of the Court and the circumstances in which it came to be pronounced.
- An agent who in consideration of an extra remuneration guarantees to his principal the performance of the contract by the other party. He occupies the position of a guarantor as well as that of an agent. But his liability is secondary and arises only on the insolvency or failure of the party.
SECTION – B
- Answer any FOUR Each carries 5 marks. (4×5=20)
- Explain the doctrine of ‘Stare decises’.
- How is a contract discharged by agreement?
- How and when may an Offer be revoked?
- Explain in detail the contents of the Memorandum of Association
- ‘Section 9’ of the Consumer Protection Act of 1986 provides for a ‘
Consumer disputes redressal forum established by the state government in
Each district of the state by notification’ In light of the above statement
Explain the Composition , Appointment , Term of office and Jurisdiction
of The District Forum.
- Define Cyber Crime and explain the need for Cyber Laws in India.
SECTION – C
- Answer any THREE Each carries 15 marks. (3×15=45)
- Define the term ‘Acceptance’ and state the rules governing a valid
Acceptance?
- Neharika, who was badly in need of money offered to sell her piano worth Rs.5,000 to Rushika for Rs.4,000. Rushika refused to buy. Neharika gradually lowered her price until Rs.1,000 was reached, which Rushika accepted. Before the piano was delivered, Neharika received an offer of a large sum from Rahul, and she refused to carry out the contract with Rushika, claiming that the consideration was inadequate.
- a) Is Neharika liable to pay damages to Rushika for failure to carry out her part
of the contract? Why?
- b) Define Consideration and elaborate the sailent features of the term
consideration as defined in the Indian contract act?
- ‘Ratification’ is tantamount to prior authority. Comment and explain the
Requisites of a valid ratification. Also explain the various modes by which an
Agency may be created.
- Examine the main features of the Foreign Exchange Management Act. How
Is it different from the Foreign Exchange Regulation Act?
- Describe the Appointment, Powers, Duties and Liability of the Board of
Directors of a Company
SECTION -D
- Case Study – Compulsory question. (15 marks)
- Read the cases mentioned below and answer the question that follows by not
only quoting the respective law but also giving a suitable explanation for the same.
- B offered to sell his car to A for Rs 2, 95,000. A accepts to purchase it for
Rs 2, 94,000.B refused to sell the car for Rs 2,94,000. Subsequently A agrees to purchase the car for Rs 2,95,000 but B refused to sell the car. A sues B for the specific performance of the contract. Will he succeed?
- A offered to sell his car to B for Rs 60,000. B said “ I accept your offer. Here is Rs 50,000 in cash and a 60 day promissory note for the balance.” Did a contract result?
- M made a contract with N for supplying to him certain goods at a certain place outside the state when there was no prohibition against sending the goods outside the state. Subsequently prohibition was imposed on 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 defense?
- G pays Rs 10,000 to X, a civil servant employed in a Government department in consideration of X’s promise that a government contract which is at the disposal of his department will be placed with G. Before this can be done X is transferred to another department. G now wishes to reclaim from X Rs 10,000 paid to him. Will G succeed?
- P borrows Rs 2,000 from C to purchase certain smuggled goods from J. Can C recover the amount from P if he
- Knows of P’s purpose for which he borrows money.
- Does not know of P’s purpose.
- A renders some service to B during his minority at the request of B . B, on attaining majority, enters into an agreement with A to compensate him (A) for services rendered during B’s minority. Is this agreement valid?
- A’s car breaks down on Mg Road. He asks B, a passing motorist to tow the car to the nearest garage. B tows the car. In return A promises to pay B at the garage Rs 500 as payment for his trouble. Is A bound by his promise?
- Arvind buys a taxi from Modi, Due to some problems in the taxi Arvind asked Modi to take it back and refund the money. Modi refused to do so. Arvind then decided to complain to the consumer forum. Is he entitled to do so?
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