Business Laws — DU B.Com (P) Previous Year Question Papers

1. (a) State with reasons whether the following statements are true/false: (3x4=12) (i) A void contract is void-ab-initio. (Il) Consideration need not be adequate. (ill) A contract cannot be discharged due to strikes, lockouts or civil disorders. (b) Distinguish between fraud and misrepresentation as per the Indian Contract Act, of 1872. (6) (c) State with reasons whether the following statements are true/false: • (1) A voidable contract cannot be enforced in a court of law. (ii) Fraud is a willful misrepresentation of facts. (iii) The objective of damages, in case of breach of contract, is to punish the person who fails to perform his obligation. (d) Discuss the different kinds of contracts based on enforceability under the Indian Contract Act, of 2. (a) Define the term 'Acceptance' under the Indian Contract Act, of 1872. What are the legal rules relating to valid acceptance under the Indian Contract Act, of 1872? (12) (b) Rahul promises to the thief to drop the prosecution against him for theft and the thief in return promises to return all the items stolen. But after Rahul drops the charges, the thief refuses to return the items. Will Rahul be able to recover the stolen items? Comment with a proper explanation of the provisions of the Indian Contract (c) Define the term 'Consideration' under the Indian Contract Act, of 1872. What are the legal rules relating to valid consideration under the Indian Contract Act, of 1872? (12) (d) Anuj promises to pay Rs. 50,000 to Tarun, who has been summoned as a witness in a lawsuit against Anuj, in consideration of Tarun's promise to abstain from the trial. Tarun abstains, but Anuj declines to make the payment. Can Tarun recover the money from Anuj? Comment with proper explanation Indian Contract Act, 3. (a) Define the term 'Bailment' under the Indian Contract Act, of 1872. Discuss the rights and duties of the bailor in detail. (12) (b) Write short notes on : (3+3=6) (i) Extent of liability of partners in an LLP. (ii) Whistle-blowing (c) Discuss in detail the rights and duties of an agent under the Indian Contract Act, of 1872. (d) Write short notes on : (3+3=6) (i) Partner as an agent of LLP. (ii) Rules relating to change in the name of 4. (a) Define the term 'Contract of Sale' as per the Sale of Goods Act, 1930. Differentiate between sale and agreement to sell. (6) (b) Neha bought a hair dye from a chemist's shop. Before the purchase, she informed the chemist (c) Define the term 'Property' under the Sale of Goods Act, of 1930. Why is it important to know the precise time of the transfer of property? (6) (d) Radha was sold two parcels of wheat by a sample by a shopkeeper. When she went to examine the bulk a week later, the seller showed her one parcel but refused to show the other. Radha decides to rescind the entire contract. Is this justifiable under the Sale of Goods Act, of 1930? Also, explain 'Implied Conditions' as per the act. 5. (a) How is an LLP formed under the LLP Act, 2008?