LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

THIRD SEMESTER – APRIL 2011

CO 3500 – BUSINESS LAW – I

 

 

 

Date : 12-04-2011              Dept. No.                                                    Max. : 100 Marks

Time : 1:00 – 4:00

 

SECTION – A

 

ANSWER ALL THE QUESTIONS                                                                                     (10X2=20)

 

1. What is consensus ad idiom?
2. Differentiate between unilateral contract and bi lateral contract.
3. What is a cross offer?
4. Explain the term coercion.
5. Write a note on bilateral mistake.
6. What is wager? Give an example.
7. What do you mean by restitution?
8. What is novation?
9. Write a note on rescission?
10. Define bailment.

SECTION – B

 

ANSWER ANY FIVE QUESTIONS                                                                                               (5X8=40)

 

11. Classify contracts according to formation and performance.
12. When does an offer come to an end?
13. “A minor liable on a contract for necessaries”. Discuss.
14. What is a contingent contract? Explain the essential characteristics of a contingent contract.
15. By whom contracts must be performed? Explain.
16. “Discharge by supervening impossibility”. Discuss.
17. Differentiate between a contract of indemnity and a contract of guarantee.
18. Bring out the duties of a bailee.

SECTION – C

 

ANSWER ANY TWO QUESTIONS                                                                                               (2X20=40)

 

19. Explain on the essential elements of a valid contract.
20. Briefly describe the various kinds of quasi contracts.
21. When consideration or object is unlawful? Discuss.

 

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