CO 3500 – BUSINESS LAW – I

(Also equivalent to COM 502)

Date & Time : 18-04-2006/AFTERNOON Dept. No. Max. : 100 Marks

PART – A

Answer ALL the questions (10 x 2 = 20 marks)

State the object of ‘Business Law?
Define the term ‘contract’?
How does a specific offer differ from a general offer?
Is there any time limit within which an acceptance is to be given? If so, specify the time limit.
Do you agree that consideration should be furnished by the promisee only? Why?
What is ‘Doctrine of restitution’? When does it apply to a minor?
Does a threat to commit suicide amount to coercion? Justify your answer.
Specify with an example the principle upon which a quasi-contract is created by law?
Why is a contract of bailment formed?
Mention the two established principles of an agency.

PART – B

Answer any FIVE questions (5 x 8 = 40 marks)

Explain with examples the types of contract on the basis of their formation and performance?
What are the legal provisions relating to the communication of offer and acceptance?
“A contract without consideration is void”. Are there any exceptions to this rule? If so, explain.
Specify and briefly explain the essentials for a valid coercion?
Discuss in brief the agreements which are opposed to public policy?
What are the remedies available to an aggrieved party for the breach of a contract?
Distinguish between a contract of indemnity and a contract of guarantee?
State and explain the rights of a Pawnee?

PART – C

Answer any TWO questions (2 x 20 = 40 marks)

“ An agreements enforceable by law is a contract “ – explain the statement illustrating the essential elements of a valid contract?
Discuss the various modes by which a contract may be discharged?
Describe the duties and the rights of an agent under the Indian contract Act, 1872?