Regulatory Framework of Business - I (Nov-Dec’ 2019) | Gauhati University Question Papers

Gauhati University Question Papers
Regulatory Framework of Business - I' 2019
Full Marks: 80
Time: 3 hours
(The figures in the margin indicate full marks for the questions)

1. A. Choose the correct option from the following:         1x5=5

1)         Advertisement in a newspaper for a job is

a)      An offer.

b)      An acceptance.

c)       An invitation to offer.

d)      None of the above.

2)         An agreement collateral to an illegal agreement is

a)      Void.

b)      Voidable.

c)       Valid.

d)      Unenforceable.

3)         A contract of insurance for life is a

a)      Quasi contract.

b)      Wagering contract.

c)       Indemnity contract.

d)      Contingent contract.

4)         A seller delivers goods in excess of the quantity ordered for. The buyer may

a)      Accept the whole.

b)      Reject the whole.

c)       Accept the goods ordered for and return the excess.

d)      All of the above.

5)         Co-operative society is a form of organisation owned by the

a)      Government.

b)      Society.

c)       Members.

d)      Beneficiaries.

B. State whether the following statements are true or false:           1x5=5

1)         A deposit of money in a bank is not a bailment.

2)         Silence is fraudulent when “silence is in itself equivalent to speech.”

3)         An agreement is a wager if either of the parties may win but cannot loose or may lose but cannot win.

4)         A rare coin cannot be considered as goods under the Sale of Goods Act, 1930.

5)         A registered co-operative society cannot declare dividend to its members.

2. Answer the following questions not exceeding 30 words each:         2x5=10

a)         Define ‘Price’ under the Sale of Goods Act.

b)         What is ‘bye-laws’ of co-operative society?

c)          What is ‘Mistake of law’ under the Indian Contract Act?

d)         Define Coercion.

e)         What is Quasi contract?

3. Answer any four from the following questions as directed within 200 words each:  5x4=20

a)         Write a note on the doctrine of ‘Caveat emptor’.

b)         State the legal status of a registered co-operative society.

c)          ‘Acceptance is to offer what a lighted match is to a train of gun-powder.’ Discuss.

d)         Distinguish between Bailment and Pledge.

e)         A and B make a contract on the mistaken belief that particular debt is barred by the Indian law of limitation. Is the contract void or voidable? Give your legal opinion.

f)          Give two examples of each of the following:

1)      Void agreement.

2)      Voidable agreement.

3)      Illegal agreement.

4)      Unenforceable agreement.

4. “No consideration, not contract”. Explain.          10

Or

What is Breach of contract? State the remedies available to the aggrieved party in case of breach of contract.                 2+8=10

5. What is Contract of Agency? Explain the essentials of a Contract of Agency.    2+8=10

Or

What is a Contract of Guarantee? State the essentials of a valid guarantee. Also state the cases in which a Contract of Guarantee is invalid.         2+4+4=10

6. “A seller cannot convey a better title to the buyer than he himself has.” Discuss this rule of law and point out the exceptions.              10

Or

Explain the nature of a contract of sale of goods and bring out clearly the distinction between a sale and an agreement to sell.      10

7. State the provisions regarding settlement of disputes of a co-operative society under the Assam Co-operative Societies Act, 2007. Also state the procedures of conducting audit in a co-operative society.  5+5=10

Or

State the provisions regarding investment of funds of a registered co-operative society. Also state the restrictions on loans of a registered co-operative society.       5+5=10

 Also Read: Regulatory Framework of Business - I Question Papers

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