LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – CORPORATE SEC.
FIFTH SEMESTER – APRIL 2012
BC 5503 – COMMERCIAL LAW
Date : 30-04-2012 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
PART – A
Answer ALL questions: (10 x 2 = 20 marks)
- Define “Contract of indemnity”.
- Who is a surety?
- What are the requisites of bailment?
- What is general lien?
- Who is a dormant partner?
- What is meant by mutual agency?
- Write a note on ‘unfair trade practice’.
- Who is a consumer as per the provisions of Consumer Protection Act?
- Write the meaning of Value Added Tax.
- Define the term “Dealer” in relation to VAT.
PART – B
Answer any FIVE questions: (5 x 8 = 40 marks)
- Write short notes on
- Continuing guarantee
- Registration of firms.
- Minor as a partner.
- List out the rights of indemnity holder.
- Briefly discuss the kinds of guarantee.
- State the differences between Pledge and Bailment.
- What are the rights and duties of partners?
- Write on the rights of consumers.
- State the circumstances under which the dissolution of a partnership by the court
take place.
- Summarize the objectives of VAT.
PART – C
Answer any TWO questions: (2 x 20 = 40 marks)
- “The liability of a surety is secondary, it is co-extensive with that of the principal debtor”- Explain.
- What are the rights and obligations of a finder of goods? What is the nature of lien he has over the goods.
- What is meant by ‘Consumer dispute’? How does the ‘Consumer disputes redressal forum ’ settle a dispute relating to deficiency in service.