LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

RO 11

THIRD SEMESTER – APRIL 2008

CO 3500 – BUSINESS LAW – I

 

 

 

Date : 22/04/2008                Dept. No.                                        Max. : 100 Marks

Time : 1:00 – 4:00

 

PART – A

 

Answer ALL questions. Each carries TWO marks.          (10×2=20 marks)

 

1. What do you understand by the word ‘Consensus ad idem’ and its importance in law of contracts?
2. Can silence be prescribed as a mode of consent to an agreement?
3. A and B agree that B shall murder C with in a week for a sum of Rs. 10,000 and B received an advance of Rs. 3,000 and bought a gun. But C died of heart attack after two days. A demands his advance back but B wants the balance of Rs. 7000. What should be done?
4. What are the essentials of Wagering agreements?
5. What is meant by a lien? Distinguish between a General lien and a particular lien.
6. What are the essential elements of a valid tender of performance?
7. What is the scope of ostensible authority of an agent?
8. Can a non owner convey a valid Pledge? Explain.
9. What is meant by ‘quantum merruit’? Give an example.
10. Under what circumstances is a party entitled to specific performance?

 

PART – B

Answer any FIVE questions.                                               (5×8= 40 marks)

 

1. Distinguish between Fraud and Misrepresentation.
2. What are the essentials of wagering agreements?
3. Describe the remedies available for an aggrieved party in a contract?
4. Distinguish between a contract of indemnity and a contract of guarantee.
5. Even in a gratuitous bailment, does a bailee have his duties? What are they?
6. What is the scope of ostensible authority of an agent?
7. Can a minor enter into an agreement? If he does, can he sued?
8. Can a non owner convey a valid pledge?

 

PART – C

Answer any TWO questions.                                         (2×20=40 marks)

 

1. What is a Consideration? Discuss the legal rules for a valid Consideration.
2. “Impossibility of performance is, as a rule, not an excuse for non performance of a contract”. Discuss.
3. Discuss the rights and liabilities of a Surety against the Creditor and the Debtor and the         Co-sureties as well.

 

 

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