CO 3500 – BUSINESS LAW – I

Date & Time : 28/06/2006/1.00 – 4.00 Dept. No. Max. : 100 Marks

Section – A (10 × 2 = 20 marks)

Answer ALL the questions.

How does an agreement differ from a contract?
What is the legal effect of cross offers? Give an example.
When an acceptance may be revoked? Illustrate.
Do you agree that the performance of legal duty is a valid consideration for one’s promise to pay?
Can a lunatic enter into a valid contract? Justify your answer.
What is the legal consequency of ‘undue influence’ on the validity of a contract?
Specify with an example any one circumstance under which the object of an agreement is unlawful?
When does a breach of contract occur? What is its legal effect?
Why is a contract of indemnity formed?
What is known as ‘ex-post facto agency’?

Section – B (5 × 8 = 40 marks)

Answer ANY FIVE questions.

“All contracts are agreements but all agreements are not contracts” – Comment.
What are the circumstances under which an offer comes to an end?
Specify and explain in brief any eight legal rules for a valid acceptance?
“Consideration may be past, present on future” – Explain with examples.
Differentiate fraud from misrepresentation?
What are the provisions of the Indian Contract Act which govern the performance of joint promises?
Explain the nature and extent of surety’s liability?
Briefly explain the position of an aggrieved party in case of anticipatory breach of contract?

Section – C (2 × 20 = 40 marks)

Answer ANY TWO questions.

Classify and discuss the types of contract?
List out and briefly explain with examples the types of agreements which are legally declared void?
Describe the duties and the rights of a bailor and a bailee?

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