LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
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FOURTH SEMESTER – APRIL 2007
CO 4501 – BUSINESS LAW – II
Date & Time: 24/04/2007 / 9:00 – 12:00 Dept. No. Max. : 100 Marks
Section – A (10 X 2 = 20)
Answer All Questions
- A Customer gives his tailor a length of suiting and requires him to make a suit for him, the lining materials and the buttons to be supplied by the tailor. State the nature of the transaction
- Define “Turnover” as per the Central Sales Tax Act 1956
- Who is a “Casual Trader” under the T.N.G.S.T Act 1959
- A of Delhi comes to Mumbai and purchases goods from B in Mumbai. After purchasing, A transports these goods to Delhi in his own name. Is this sale chargeable to Central Sales tax?
- What do you mean by Insurable Interest
- Define ‘Whole Sale dealer’ under the central Excise Act 1944
- When is a sale or purchase of goods said to take place in the course of import or export.
- Write a note on endowment Policy
- Define the concept of “Charter party” under the carriage of goods Act.
- Bring out the meaning of ‘Subrogation’ under the insurance contract
Section – B (5 X 8 = 40)
Answer Any Five Questions
- Sate the doctrine of caveat emptor and the exceptions to it.
- Enumerate and explain the rights and the liabilities of a common carrier
- What is a contract of insurance? Explain the basic principles of the law of Insurance.
- State and explain in detail the provisions for the levy and the collection of excise duty under the Central Excise Act 1944
- State the implied conditions in a contract for the sale of goods.
- Define the following terms as per the T.N.G.S.T Act 1959 with suitable illustrations
- Turnover
- Total Turnover
- Taxable Turnover
- Distinguish between sale and an Agreement to Sell
- What is auction sale? What are the rules relating to auction sale?
Section – C (2 X 20 = 40)
Answer Any two Questions
- When is a seller of goods deemed to be a unpaid seller? What are the rights against
- the goods
- the buyer personally?
- Discuss in detail the provisions regarding the following as per the CST act 1956
- Sale or purchase of goods in the course of inter-state trade
- Sale or purchase of goods outside a state
- Registration of dealers
- “Delivery does not amount to acceptance of goods” Discuss, when a buyer can be said to have accepted the goods and the rules as to delivery of goods with proper illustrations