LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
THIRD SEMESTER – APRIL 2012
CO 3500 - BUSINESS LAW - I
Date : 24-04-2012
Time : 9:00 - 12:00
Dept. No.
Max. : 100 Marks
PART – A
Answer ALL the questions:
(10x2=20)
1. What is an Agreement? Explain with an example.
2. What constitutes an Offer?
3. Who are ‘incompetent to Contract’?
4. Give the meaning of ‘privity to Contract’.
5. Write any four agreements contrary to public policy.
6. Mention the characteristics of a Contingent Contract.
7. Who must perform the Contract?
8. State any two differences between Contracts of indemnity and guarantee.
9. When is a Pledge by non-owners valid?
10. Who is a Del-Credere Agent?
PART – B
Answer any FIVE questions:
(5x8=40)
11. How are Contracts classified?
12. Enumerate the legal rules as to Acceptance.
13. State the exceptions to the rule that Contracts without consideration is void.
14. What is assignment of Contract? How does it take place?
15. What are Quasi-contracts? Enumerate the different types of Quasi-contracts.
16. State the circumstances in which a Surety is discharged from liability.
17. Explain the duties of a Bailee under bailment.
18. Mention the rights of an Agent against the Principal.
PART – C
Answer any TWO questions:
(2x20=40)
19. “When there is no consent there is no Contract.” Discuss with reference to flaws in
consent.
20. What is a void agreement? Enumerate expressly declared void agreements under the
Indian Contract Act.
21. What remedies are available to an aggrieved party for breach of Contract?
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