LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
THIRD SEMESTER – SUPPLEMENTARY – JUNE 2012
CO 3500 – BUSINESS LAW - I
Date : 29-06-2012
Time : 2:00 - 5:00
Dept. No.
Max. : 100 Marks
SECTION – A
Answer ALL Questions:
(10 x 2 = 20 marks)
1. Define contract?
2. What do you mean by right of lien?
3. What is a Quantum meruit?
4. What is meant by consensus ad idem?
5. What is a quasi contract?
6. Distinguish between indemnity and guarantee.
7. What is an unlawful agreement?
8. What do you understand by injunction?
9. Who is called an agent?
10. What is wager?
SECTION –B
Answer ANY FIVE questions.
(5 x 8 = 40 marks )
11. What is called consideration? State the legal rules pertaining to consideration.
12. Who is called a minor ? Under what circumstances he is liable on a contract?
13. What is misrepresentation ? Distinguish it from fraud?
14. Who is called a surety? Explain the rights of a surety.
15. What are the rights and obligations of a finder of goods? What is the nature of the lien he
has over the goods?
16. “Discharge by supervening impossibility” . Discuss.
17. Explain the legal rules pertaining to offer.
18. Under what circumstances the contract need not be performed. Explain.
SECTION C
Answer ANY TWO questions:
(2 x 20 = 40 marks)
19. What are the essential elements of a valid contract?
20. Explain the remedies available to an aggrieved party in case of breach of contract?
21. Discuss the different modes BY which the authority of an agent may be terminated.
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