Dibrugarh University - Business Regulatory Framework 2011

        (b) What is meant by supervening impossibility? Discuss the effects of supervening impossibility on the performance of a contract.

2.    (a) Explain the rule caveat emptor and discuss the exceptions to this rule.

Or

        (b) Discuss the circumstances under which sale of goods by non-owners is valid.

3.    (a) Write a note on the presumptions in respect of negotiable instruments.

Or

        (b) Who are the parties to a negotiable instrument? Discuss their liabilities concerning negotiable instruments.

4.    (a) Discuss the objectives and salient features of Consumer Protection Act, 1986.

Or

        (b) Define partnership and explain the essential elements of partnership.

5.    (a) Discuss the powers of the Central Government regarding framing of rules under Foreign Exchange Management Act, 2000.

Or

        (b) Write notes on:

                    (i) Service (in the context of FEMA)

                    (ii) Prohibited Capital Account Transactions (in the context of FEMA)

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