LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
FOURTH SEMESTER – APRIL 2012
CO 4503/CO 4501 – BUSINESS LAW & VAT
Date : 24-04-2012 Dept. No. Max. : 100 Marks
Time : 1:00 – 4:00
PART – A
ANSWER ALL THE QUESTIONS: (10×2=20 marks)
- Define a contract of sale.
- What are future goods?
- Give the meaning of the terms ‘condition’ and ‘warranty’.
- Who is a gratuitous carrier?
- Give the meaning for re-insurance and double insurance.
- What is VAT?
- What is meant by CAVEAT EMPTOR?
- Write a note on symbolic delivery.
- What is right of lien?
- Give the meaning for the terms ‘insurance’ and ‘assurance’.
PART – B
ANSWER ANY FIVE QUESTIONS: (5×8=40 marks)
- Explain the essentials of a valid contract of sale.
- Explain the various implied conditions.
- Bring out the rights of a common carrier.
- Describe the objectives of the Consumer Protection Act.
- Explain the objectives of VAT.
- Explain the circumstances under which sale of goods by non-owners is valid.
- Briefly describe the different kinds of contract of insurance.
- Discuss the rights of the consumers.
PART – C
ANSWER ANY TWO QUESTIONS: (2×20=40 marks)
- Distinguish between a sale and an agreement to sell.
- Explain the fundamental principles of Insurance contract.
- Discuss the liabilities of railway administration as carrier of goods.
Latest Govt Job & Exam Updates: