LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
FOURTH SEMESTER – NOVEMBER 2012
CO 4503/CO 4501 – BUSINESS LAW & VAT
Date : 07/11/2012 Dept. No. Max. : 100 Marks
Time : 1:00 – 4:00
PART – A
Explain the following Terms: (10×2=20 marks)
- Auction sale
- Agreement to sell
- MRTP Commission
- Contract of insurance
- Restrictive Trade Practice
- Scheduled goods
- Common carrier
PART – B
Answer any FIVE questions: (5×8=40 marks)
- What are the duties of the buyer?
- What are the Express and Implied conditions?
- What are the objects of the Central Consumer Protection Council?
- Explain “Unfair Trade Practices” under the MRTP Act.
- What are the functions of Insurance?
- Explain the different types of Fire Insurance Policies.
- What are the rights of a Common Carrier?
- What are the objectives of VAT?
PART – C
Answer any TWO questions: (2×20=40 marks)
- What are the rights of an Unpaid Seller? Describe using examples.
- Describe the procedure on admission of complaint relating to goods and services. Explain using illustrations.
- Explain and Illustrate the fundamental principles of Insurance.
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