2016
(July)
COMMERCE
Paper: 203
(Business Regulatory Framework)
Full Marks: 90
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Choose the correct answer: (any eight) 1x8=8
a) Indian Contract Act was passed in 1972/1872.
b) An agreement to sell is an executed/executor contract.
c) An unpaid seller obtains/does not obtain right against goods.
d) Bill of exchange has two/three parties.
e) Days of grace is allowed/not allowed in cheque.
f) A promissory note may/may not be in writing.
g) Registration of a partnership firm is compulsory/not compulsory.
h) Consumers’ Protection Act was passed in 1896/1986.
i) Agreement and Contract are/are not same.
2. (A) ‘All contracts are agreements but all agreements are not contract.’ Explain. 14
Or
(B) What is contract of indemnity? Show the differences in between contract of indemnity and contract of guarantee. 6+8=14
3. (A) What is meant by auction sale? Describe the differences between sale and Hire Purchase Agreement. 5+8=13
Or
(B) Elucidate the differences between sale and agreement to sale. 13
4. (A) Define negotiable instrument. State its different types. 5+8=13
Or
(B) Who is ‘holder in due course’? Distinguish between holder in due course and holder. 4+9=13
5. (A) Explain the objects of Consumer Protection Act 1986. Elucidate the rights of consumer. 6+7=13
(B) Elucidate the affects of non-registration of partnership firm. Mention the rights not affected by non-registration. 3+10=13
6. (A) State the main provisions of Foreign Exchange Management Act 2000. 13
Or
(B) Write notes on: 6+7=13
i. Capital Account Transaction.
ii. Authorised person as defined by FEMA.
7. Write short notes on: (any four): 4x4=16
a) Coercion.
b) Goods.
c) Days of grace.
d) Consumer.
e) District Forum.
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