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GAUHATI UNIVERSITY BCOM 3RD SEMESTER
NEP FYUGP - For All MAJOR
BUSINESS LAW IMPORTANT QUESTIONS
BUSINESS LAW
Unit I: The Indian Contract Act, 1872 – General Principles of Law of Contract
2 Marks Questions (Definitions / Direct Answers)
Define a contract. [GU BCom 2021]
What do you mean by agreement?
Define offer under the Indian Contract Act, 1872.
What is an acceptance? [GU BCom 2021]
Define consideration. [GU BCom 2024]
What is meant by capacity to contract? [GU BCom 2024]
Write the meaning of consent.
What is meant by free consent?
Define legality of object.
What is a void agreement? [GU BCom 2020]
Define void contract.
What is a voidable contract?
Define illegal agreement.
Define contingent contract.
Define quasi-contract.
What is meant by discharge of contract?
What do you mean by breach of contract?
State two remedies for breach of contract.
Write the meaning of revocation of offer.
What is a counter-offer?
What is a proposal?
Mention any two legal obligations arising from quasi-contracts.
What is a wagering agreement?
What is a special offer?
What is a general offer?
Define contractual capacity of minor.
Write one difference between agreement and contract.
What do you mean by consideration? Without consideration is void.
Define communication of offer.
Define communication of acceptance.
What is revocation of acceptance?
Define executed contract and executory contract. [GU BCom 2019]
Define bilateral contract and unilateral contract.
Define implied contract.
Define express contract.
5 Marks Questions (Short Notes / Brief Explanations)
Distinguish between:
a) Agreement and Contract [GU BCom 2024]
b) Void and Voidable Contract [GU BCom 2023]
c) Wagering Agreement and Contingent Contract [GU BCom 2024]
d) Offer and Invitation to Offer
e) Executed and Executory Contract [GU BCom 2019]Write short notes on:
a) Legal rules of valid offer [GU BCom 2023]
b) Legal rules of valid acceptance
c) Doctrine of Privity of Contract
d) Essentials of consideration [GU BCom 2024]
e) Stranger to a contract
f) Doctrine of Free Consent
g) Coercion, Undue Influence, Misrepresentation, Fraud, Mistake (short notes individually)
h) Capacity of Minor under the Indian Contract Act.
i) Legality of object.
j) Kinds of contracts based on validity [GU BCom 2019, 2020, 2021]
k) Quasi contracts [GU BCom 2020]
l) Contingent contracts [GU BCom 2019]
m) Remedies for breach of contract (short explanation). [GU BCom 2021]State the rules relating to communication of offer and acceptance.
Explain briefly the modes of revocation of offer.
What are the different modes of discharge of contract? [GU BCom 2024]
Write the differences between illegal agreement and void agreement.
State the legal rules relating to wagering agreements.
Write the conditions when contract is discharged by impossibility of performance.
Briefly explain damages as a remedy for breach of contract.
What are the essentials of a valid contract? [GU BCom 2019, 2020, 2023]
10 Marks Questions (Long / Essay Type)
Discuss with examples the essential elements of a valid contract. [GU BCom 2019, 2020, 2023]
“All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not expressly declared to be void.” Explain.
State the various kinds of contracts:
a) Based on validity [GU BCom 2019, 2020]
b) Based on formation and performance [GU BCom 2020, 2021]Define and explain void agreements. Discuss different types of void agreements under the Indian Contract Act, 1872. [GU BCom 2019]
What do you mean by consideration? Discuss the legal rules relating to consideration. [GU BCom 2020, 2023]
Explain the rules regarding free consent. Discuss the effect of coercion, undue influence, misrepresentation, fraud, and mistake.
What is meant by capacity to contract? State the legal rules relating to minor’s contract.
Define contingent contract. State the rules relating to contingent contract with suitable examples. [GU BCom 2019]
What is quasi-contract? Explain different kinds of quasi-contracts recognized under the Indian Contract Act. [GU BCom 2020]
What are the different modes of discharge of a contract? [GU BCom 2024]
Define breach of contract. Discuss the remedies available to an aggrieved party. [GU BCom 2021]
Discuss the rules regarding offer and acceptance under the Indian Contract Act.
Distinguish between:
a) Agreement and Contract
b) Void and Voidable Contract
c) Sale and Agreement to Sell (though more linked to Unit III, sometimes overlaps).Write explanatory notes on:
a) Doctrine of Supervening Impossibility
b) Doctrine of Restitution“An agreement enforceable by law is a contract.” Explain the statement in detail.
Discuss the classification of contracts with suitable examples. [GU BCom 2019, 2020, 2021]
Discuss the circumstances when consent is not free. [GU BCom 2023]
What is the difference between wagering agreement and contingent contract? Explain with examples. [GU BCom 2024]
Define and explain quasi-contracts. Why are they called “contracts implied by law”?
Explain the legal rules relating to wagering agreements.
Unit II: The Indian Contract Act, 1872 – Specific Contracts
2 Marks Questions (Definitions / Direct Answers)
Define a contract of indemnity.
What is a contract of guarantee?
State two essentials of a contract of indemnity. [GU BCom 2020, 2024]
Who is a surety? Write two rights of surety. [GU BCom 2019]
Who is a bailor?
Who is a bailee?
What is bailment?
Define pledge. [GU BCom 2024]
State two duties of bailee. [GU BCom 2019, 2021]
Who is a pawnee?
Who is a pawnor?
Define contract of agency.
Who is an agent? Who is a principal?
Who appoints a sub-agent? [GU BCom 2019, 2021]
Define sub-agent.
Define substituted agent.
Write two duties of an agent. [GU BCom 2020]
Write two rights of an agent. [GU BCom 2019, 2021]
What is an express agency?
What is an implied agency?
Define the term Contract of Bailment under the Indian Contract Act, 1872.
Define surety’s liability.
What is meant by “consideration for guarantee”?
Write two differences between contract of indemnity and guarantee. [GU BCom 2023, 2024]
What is continuing guarantee?
Define revocation of guarantee.
Define “Lien” under bailment.
Define gratuitous bailment.
Define pledge and hypothecation.
Mention one difference between bailment and pledge.
5 Marks Questions (Short Notes / Brief Explanations)
Distinguish between:
a) Indemnity and Guarantee [GU BCom 2019, 2021, 2023, 2024]
b) Bailment and Pledge
c) Sub-agent and Substituted agent
d) Surety and GuarantorWrite short notes on:
a) Rights of surety against the creditor and principal debtor [GU BCom 2020]
b) Duties of bailee [GU BCom 2019, 2021]
c) Duties of agent [GU BCom 2020]
d) Rights of agent [GU BCom 2019, 2021]
e) Essentials of a valid contract of guarantee [GU BCom 2020]
f) Types of bailment
g) Rights of pawnee
h) Implied authority of agent
i) Termination of agencyState the essentials of a contract of bailment.
State the essentials of a contract of pledge.
State the duties of bailor.
State the rights of bailee.
State the rights and duties of pawnee.
State the different modes of creation of agency.
Explain the circumstances under which an agent is personally liable.
Briefly explain the concept of Continuing Guarantee.
10 Marks Questions (Long / Essay Type)
Define a contract of indemnity. State the rights of indemnity holder.
Define a contract of guarantee. Explain the rights of surety. [GU BCom 2019, 2020]
Define a contract of guarantee. Explain the discharge of surety.
Distinguish between a contract of indemnity and a contract of guarantee. [GU BCom 2019, 2021, 2023, 2024]
Define a contract of bailment. State the rights and duties of bailor and bailee. [GU BCom 2024]
What is pledge? Discuss the rights of pawnee and pawnor.
Define contract of agency. Explain the rights and duties of an agent. [GU BCom 2019, 2020, 2021]
Who is a sub-agent? Distinguish between sub-agent and substituted agent. [GU BCom 2019, 2021]
State the different modes of creation of agency. Explain termination of agency.
Discuss the circumstances when a surety is discharged from liability.
Explain the doctrine of Agency by Ratification with examples.
Explain the doctrine of Agency by Necessity with examples.
Who is an agent? State the legal relationship between principal and agent.
Discuss the rights and duties of bailor and bailee. [GU BCom 2024]
State the essential elements of a contract of pledge. Distinguish between pledge and bailment.
Discuss the rights and duties of a pawnee.
What is a contract of agency? Explain how an agency can be terminated.
“An agent is personally liable under certain circumstances.” Explain.
Explain the rights of indemnity holder under the Indian Contract Act.
Explain the liabilities of surety under a contract of guarantee.
Discuss the different kinds of bailment.
State the essentials of contract of agency.
Explain the duties of principal towards agent.
Explain the legal rules regarding sub-agent and substituted agent.
Unit III: The Sale of Goods Act, 1930
2 Marks Questions (Definitions / Direct Answers)
Define contract of sale. [GU BCom 2019, 2020]
Distinguish between sale and agreement to sell. [GU BCom 2021, 2024]
What is a hire-purchase agreement?
Define goods under the Sale of Goods Act, 1930. [GU BCom 2019]
What are existing goods?
What are future goods?
What is the difference between specific and unascertained goods?
Define the term “delivery.”
Define “document of title to goods.”
Define condition. [GU BCom 2019, 2020]
Define warranty. [GU BCom 2021]
State two differences between condition and warranty.
Define caveat emptor. [GU BCom 2019, 2023]
Write two exceptions to the doctrine of caveat emptor. [GU BCom 2020]
Define unpaid seller. [GU BCom 2024]
State two rights of unpaid seller. [GU BCom 2019, 2021]
What is lien? [GU BCom 2019, 2020]
Define stoppage in transit. [GU BCom 2019]
Define auction sale.
Mention one difference between sale and hire purchase.
What is appropriation of goods?
What is passing of property?
Define agreement to sell.
What do you mean by “ownership” in goods?
Who is an unpaid seller?
5 Marks Questions (Short Notes / Brief Explanations)
Distinguish between:
a) Sale and Agreement to Sell [GU BCom 2021, 2024]
b) Condition and Warranty [GU BCom 2019, 2020, 2021]
c) Sale and Hire Purchase
d) Specific goods and Unascertained goodsWrite short notes on:
a) Doctrine of Caveat Emptor [GU BCom 2019, 2023]
b) Exceptions to Caveat Emptor [GU BCom 2020]
c) Rights of unpaid seller [GU BCom 2019, 2021, 2024]
d) Lien of unpaid seller [GU BCom 2019, 2020]
e) Stoppage in transit [GU BCom 2019]
f) Auction sale – rules [GU BCom 2021]
g) Types of goods under the Sale of Goods Act, 1930
h) Conditions implied in a contract of sale
i) Warranties implied in a contract of saleState the essential elements of a contract of sale. [GU BCom 2020]
State the rights of an unpaid seller against goods and against buyer personally.
State the rules regarding delivery of goods.
Explain the rules regarding passing of property in goods.
State the different types of goods recognized under the Sale of Goods Act.
Briefly explain “agreement to sell” with examples.
10 Marks Questions (Long / Essay Type)
Define contract of sale. Distinguish between sale and agreement to sell. [GU BCom 2019, 2020, 2021, 2024]
Explain the difference between condition and warranty. [GU BCom 2019, 2020, 2021]
Discuss the doctrine of caveat emptor and its exceptions. [GU BCom 2019, 2020, 2023]
Who is an unpaid seller? State the rights of an unpaid seller. [GU BCom 2019, 2021, 2024]
Define unpaid seller. Explain his rights against goods and against the buyer personally.
Explain the rules regarding passing of property in goods.
State the rules regarding delivery of goods under the Sale of Goods Act.
Define auction sale. State the legal rules applicable to auction sales. [GU BCom 2021]
Explain different types of goods under the Sale of Goods Act with examples.
Define condition and warranty. Distinguish between the two and explain the implied conditions in a contract of sale.
Explain the essentials of a contract of sale with examples. [GU BCom 2020]
Explain the concept of hire-purchase agreement. Distinguish it from contract of sale.
Explain the rules relating to transfer of ownership in goods.
Explain the effect of perishing of goods before and after formation of contract.
State the rules regarding appropriation of goods.
Discuss the implied conditions and implied warranties in a contract of sale.
Explain the remedies available to an unpaid seller under the Sale of Goods Act.
Distinguish between agreement to sell and hire-purchase agreement.
Discuss the provisions relating to delivery of goods under the Sale of Goods Act.
Discuss the legal rules relating to transfer of title in goods.
Unit IV: Partnership Laws
A) The Partnership Act, 1932
2 Marks Questions (Definitions / Direct Answers)
Write two differences between partnership and co-ownership. (GU BCom 2019, 2020, 2021)
What is a partnership deed? (GU BCom 2023, 2024)
Define partnership under the Partnership Act, 1932.
State two essentials of a partnership.
Who is a partner by estoppel?
What do you mean by implied authority of a partner?
State two rights of partners.
State two duties of partners.
Who is a minor partner?
Write two differences between partnership firm and joint Hindu family business.
State two modes of dissolution of partnership firm.
What do you mean by incoming partner?
Define "Partnership at will."
What is the minimum number of persons required to form a partnership?
Who regulates partnership law in India?
5 Marks Questions (Short Notes / Brief Explanations)
State the essential elements of partnership. (GU BCom 2019)
Briefly state different types of partners. (GU BCom 2020)
Explain the procedure of registration of partnership firm. (GU BCom 2021, 2023)
What test would you apply to determine the existence of partnership? (GU BCom 2023)
Discuss the liabilities of partners.
Explain the implied authority of a partner.
Distinguish between partnership and co-ownership.
What are the effects of non-registration of a partnership firm?
State the rules relating to incoming and outgoing partners.
Distinguish between partnership at will and particular partnership.
10 Marks Questions (Long / Essay Type)
State the rights and duties of partners under the Indian Partnership Act, 1932. (GU BCom 2019, 2021)
Explain the procedure of registration of partnership firm and state its benefits. (GU BCom 2020, 2021, 2023)
Discuss the dissolution of partnership firm under the Partnership Act, 1932.
Explain the liabilities of partners to third parties.
Discuss the implied authority of a partner with exceptions.
Explain the rules relating to incoming and outgoing partners.
Distinguish between dissolution of partnership and dissolution of firm.
Discuss the concept of partnership at will with case laws.
Explain the rights and liabilities of partners after dissolution.
Discuss the relation of partners with third parties under the Act.
B) The Limited Liability Partnership Act, 2008
2 Marks Questions (Definitions / Direct Answers)
Define Limited Liability Partnership. (GU BCom 2023)
State two features of LLP.
Who are designated partners?
What is an LLP Agreement?
What is incorporation document of LLP?
State any two differences between LLP and Partnership.
State any two differences between LLP and Company.
Write two advantages of LLP. (GU BCom 2019, 2021, 2023)
State two liabilities of partners in an LLP. (GU BCom 2023)
What is the minimum number of partners in LLP?
Can a minor be a partner in LLP?
State two similarities between partnership and LLP.
Mention the governing law of LLP in India.
What is perpetual succession in LLP?
Define "Incorporation by registration."
5 Marks Questions (Short Notes / Brief Explanations)
Distinguish between Partnership and LLP. (GU BCom 2020, 2021, 2024)
Distinguish between LLP and Company. (GU BCom 2021, 2024)
State the salient features of LLP. (GU BCom 2019, 2021)
What are the advantages of LLP? (GU BCom 2019, 2021, 2023)
Discuss the liabilities of partners in LLP. (GU BCom 2023)
Explain the role of designated partners in LLP.
What is an incorporation document? Discuss.
Explain incorporation by registration.
Distinguish between general partnership and LLP Agreement.
Write the steps in conversion of a firm into LLP.
10 Marks Questions (Long / Essay Type)
Discuss the salient features of LLP with advantages. (GU BCom 2019, 2021, 2023)
Distinguish between LLP and Partnership, LLP and Company. (GU BCom 2020, 2021, 2024)
Discuss the incorporation of LLP with required documents. (GU BCom 2020)
Explain the rights and duties of partners in LLP.
Discuss the relationship of partners in LLP.
Explain the concept of LLP Agreement and its importance.
Explain incorporation document and procedure for registration of LLP.
Explain the differences in liability structure of LLP vs partnership.
Discuss the conversion of partnership firm into LLP.
State the advantages and disadvantages of LLP.
Unit V: Negotiable Instruments Act, 1881
A) Negotiable Instruments
2 Marks Questions (Definitions / Direct Answers)
Who can cross a cheque? (GU BCom 2019)
Who are the parties to a cheque? (GU BCom 2020)
Define the term ‘Holder in Due Course.’ (GU BCom 2023)
Mention the parties to a bill of exchange. (GU BCom 2024)
What is a promissory note?
What is a cheque?
What is endorsement?
Define Negotiable Instrument. (GU BCom 2024)
What do you mean by ‘crossing of a cheque’?
What is a bearer cheque?
State any two privileges of holder in due course. (GU BCom 2020, 2021)
What is a dishonour of cheque?
What is a post-dated cheque?
What is "Negotiation" under the Act?
Define "Bill of Exchange."
5 Marks Questions (Short Notes / Brief Explanations)
Distinguish between cheque and bill of exchange. (GU BCom 2019)
Distinguish between promissory note and cheque. (GU BCom 2020)
Distinguish between bill of exchange and promissory note. (GU BCom 2021, 2024)
State the privileges of holder in due course. (GU BCom 2020, 2021)
Explain various types of crossing of a cheque. (GU BCom 2020, 2021)
What is general and special endorsement? (GU BCom 2023)
Mention five reasons for bouncing of a cheque. (GU BCom 2023)
Explain the features of negotiable instruments.
Distinguish between bearer cheque and order cheque.
State the liabilities of parties to a bill of exchange.
10 Marks Questions (Long / Essay Type)
Under what circumstances can a banker refuse payment of cheque? (GU BCom 2019)
Explain the types of endorsement under the NI Act.
What is crossing of cheque? Explain with examples the types of crossing. (GU BCom 2021)
Discuss the privileges of holder in due course.
Define Negotiable Instrument. Discuss the characteristics. (GU BCom 2024)
Discuss the liabilities of drawer and drawee in case of dishonour of cheque.
Explain the bouncing of cheque and legal remedies.
Discuss the rules of negotiation and endorsement.
Discuss the essentials of a valid promissory note.
Discuss the essential features of bill of exchange.
B) Right to Information Act, 2005
2 Marks Questions (Definitions / Direct Answers)
What is meant by ‘Information’ under RTI Act? (GU BCom 2023, 2024)
Define Public Authority under RTI Act.
Who is the Central Information Commissioner?
State one objective of RTI Act.
What is the time limit for disposal of RTI request?
Define "Right to Information."
Who appoints the State Information Commissioner?
Mention one obligation of Public Authorities.
What is an appeal under RTI Act?
What is penalty for refusal of information?
Who can file an application under RTI Act?
State two exclusions under RTI Act.
What is the maximum time for reply under RTI Act?
Define "Information Commission."
State one limitation of RTI Act.
5 Marks Questions (Short Notes / Brief Explanations)
What are the obligations of public authorities under RTI Act? (GU BCom 2019, 2020, 2021, 2024)
How is the Central Information Commission constituted? (GU BCom 2023)
Write short note on penalties under RTI Act.
State the appellate procedure under RTI Act.
Distinguish between Information Commission and Public Authority.
Explain the scope of RTI Act.
Discuss the rights of citizens to obtain information.
What is disposal of request under RTI?
State the duties of Information Officer.
Discuss the objectives of RTI Act.
10 Marks Questions (Long / Essay Type)
What are ‘Information’ and ‘Right to Information’? Discuss the formalities of request. (GU BCom 2021)
Explain the salient features of RTI Act. (GU BCom 2023)
Discuss the obligations of public authority under RTI Act. (GU BCom 2019, 2020, 2024)
Discuss the powers and functions of Information Commission.
Explain the appeal procedure under RTI Act.
Discuss penalties for non-compliance under RTI Act.
Explain the role of Central and State Information Commission.
Discuss the scope and limitations of RTI Act.
Explain the procedure for filing RTI application.
Discuss the object and importance of RTI Act.
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