GU Business Laws Question Paper 2024 [Gauhati University FYUGP B.Com 3rd Sem.]

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 2024

COMMERCE

Paper: BCMO3004  

(Business Laws)  

Full Marks: 60  

Time: 2½ hours

The figures in the margin indicate full marks for the questions.

Answer either in English or in Assamese.

1. (A) Choose the most appropriate answer:  1 × 4 = 4  

(a) The Indian Contract Act was passed in the year—  

   (i) 1872  

   (ii) 1782  

   (iii) 1982  

   (iv) None of the above  

   (b) A contract of indemnity is a—  

   (i) quasi contract  

   (ii) contingent contract  

   (iii) wagering contract  

   (iv) None of the above  

(c) In a sale, there is a implied condition on the part of the seller that he—  

   (i) is in possession of the goods  

   (ii) will have the right to sell  

   (iii) has a right to sell the goods  

   (iv) will possess the goods  

(d) The collateral transactions to an illegal agreement are—  

   (i) void  

   (ii) voidable  

   (iii) illegal  

   (iv) unenforceable  

(B) State whether the following statements are True or False: 1 × 4 = 4  

(a) A promissory note can be crossed.  

(b) Trademark, copyright, patent right are not considered as goods under the Sale of Goods Act.  

(c) Registration of partnership firm is compulsory.  

(d) Wagering agreements are void but a contingent contract is not.  

2. Give brief answers to the following questions: (any six)    2 × 6 = 12  

(a) What is a contract of sale?  

(b) What is partnership deed?  

(c) Define 'goods' under the Sale of Goods Act, 1930.  

(d) What is consideration?  

(e) What is the test of determining existence of an agency?  

(f) What is meant by 'capacity to contract'?  

(g) Mention the different parties to a bill of exchange.  

(h) What is 'information' as per the RTI Act, 2005?  

(i) State whether there is any contract in the following cases:  

(i) A having accepted an invitation to 'dinner did not attend it.  

(ii) A takes a seat in a bus carrying passengers.

(j)  Define Pledge.

3. Answer any four from the following:    5 × 4 = 20  

(a) Mention the implied conditions of a contract of sale under the Sale of Goods Act, 1930.  

(b) "All contracts are agreements, but all agreements are not contracts." Discuss.  

(c) Write the differences between limited liability partnership and partnership.  

(d) Discuss the various ways by which a contract may be discharged.  

(e) Differentiate between Promissory note and Bill of Exchange.

(f) Discuss the essential elements of a contract of indemnity. 

(g) What are the contents of a partnership deed?

(h) "An acceptance to be effective, must be communicated to the offerer." Explain the statement and discuss the exceptions to this rule.

4. Answer any two of the following:   10 × 2 = 20  

(a) Discuss the rights and duties of Bailor and Bailee.  

(b) What are the different types of contract? Explain.  

(c) Who is an unpaid seller? Discuss briefly the rights of an unpaid seller.  

(d) Discuss the obligations of public authority under the Right to Information Act, 2005.  

(e) Define Negotiable Instrument. Discuss the characteristics of a negotiable instrument.  

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