LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
FOURTH SEMESTER – April 2009
CO 4503 – BUSINESS LAW & VAT
Date & Time: 29/04/2009 / 9:00 – 12:00 Dept. No. Max. : 100 Marks
SECTION A : Answer ALL questions ( 10 x 2 = 20 )
- What are ‘specific goods’?
- What is a Way Bill?
- Who is a nominee of an insurance Policy?
- What do understand by ‘Uberrimae fidei’?
- Who is a Common carrier?
- What is the extent of Indian Railways’ liability?
- Who is a consumer?
- What is a ‘grievance’ for a consumer?
- What is meant by cascading effect?
- State the objectives of VAT.
SECTION B : Answer Any FIVE questions ( 5 x 8 = 40 )
- Is a Hire purchase a sale? Give reasons.
- Distinguish between Conditions and Warrantees as per the Sale of goods Act.
- A ship was insured against loses resulting from collision. There was a collision and consequently the ship was delayed for a few days. The ship was carrying some eatables which became unfit for human consumption due to late arrival at the port of destination. Is the insurer liable for loss? Explain the Principle involved.
- Who is a Common Carrier ? What are his duties?
- What is an Average clause in a policy? With an example illustrate it.
- What are unfair trade practice? Give examples.
- Mention five reasons for the Consumer Protection Act not being fully used in India.
- Briefly explain the methods of set off of Tax credit.
SECTION C : Answer Any TWO questions ( 2 x 20 = 40 )
- Who is an unpaid seller? What are his rights and duties?
- Discuss the salient principles of governing a contract of insurance.
- Discuss the various provisions in the consumer Protection act 1986 that educates a consumer and safe guards his welfare and giving redresses to his grievances.