BUSINESS
LAWS IMPORTANT QUESTION
B.Com 1st&
2nd Sem Hons & Non-Hons (CBCS SYLLABUS)
Complete Notes Also Available Click on the Questions Given Below
Unit 1: The Indian Contract Act, 1872 (General Principles)
Part A
Q.” All Contracts are Agreements but all Agreements are not Contract.” Explain. Or what are the essentials of a valid contract? 2012, 2014, 2016, 2019, 2020, 2021, 2022
Q. What are various types of Contract? Distinguish between Valid, Void and Voidable contract. 2019
Q. “No Consideration, No Contract”. What are the Exceptions to this rule? 2012, 2015, 2017, 2018
Q. What is Offer and Acceptance? Explain the rules relating to offer and acceptance.
Q. What is Free Consent? When a consent is said to be free? 2021
Q. Write Short notes on:
Ø Fraud and Misrepresentations
Part B
Q. What are the various modes of Discharge of
a Contract? 2013, 2014, 2017, 2019, 2022
Q. What do you mean by Breach of Contract?What are the remedies available for Breach of Contract?
Q. What is contingent contract? Explain its
essentials and rules.
2018
Q. What is Quasi contract? Explain its various
types with examples. 2015, 2022SN
Q. Distinguish between Contingent and Quasi Contract.
Unit II: The Indian Contract Act, 1872: Specific Contracts
Part A
Q. What is contract of indemnity and contract of guarantee? What are its essentials? Explain the distinction between a contract of indemnity and guarantee. 2019, 2022
Q. Define bailment? Explain essentials of a bailment contract.
Q. What is Bailment? What are Rights and duties of bailor and Bailee? Explain. 2019, 2021, 2022
Q. What is Pledge? Explain essentials of a pledge? Distinguish between bailment and pledge.
Q. “Non-owners can make a valid pledge”. Explain.
Q. Who is finder of goods? Discuss the rights and duties of finder of lost goods.
Q. What is a continuing guarantee? When and how is it revoked? 2020
Part B
Q. Who is an agent? What are types of agents? How an agency is terminated?
Q. State the rights, duties and liability of an agent towards the principal? 2020
Q. State the rights, duties and liability of the principal? 2021
Q. Explain the methods of creation of agency. Discuss the scope and extent of agent’s authority.
Q. What do you mean by agency by ratification? Explain conditions of a valid ratification.
Q. Who may employ an agent? Who can be an agent? What is real and apparent authority?
Unit 3: The Sale of Goods Act, 1930
Part A
Q. Discuss Expressed and Implied conditions
under Sale of Goods Act, 1930. 2012,
2014
Q. Distinguish between hire purchase and sale
and agreement to sale.
Q. What do you mean by ‘caveat emptor’? Discuss the exceptions to this rule. 2019
Q. Define the term goods. What are the different types of goods? 2021
Part B
Q. Explain the rules relating to performance
of contract of sale.
Q. Explain the provisions of Sale of Goods Act' 1930 relating ot transfer of ownership.
Q. What is Breach of Contract? What are the remedies available for the breach of contract of sale? 2022
Unit 4: Partnership Laws
Part A
Q. Define partnership and explain the essential
elements of partnership.
Q. State the rights and duties of partners according
to the law of partnership in India. 2020,
2022
Q. A partnership comes into existence by virtue of
an agreement and not by status. Comment.
Q. Is registration of a firm compulsory? What are
the effects of non-registration of a firm? Mention the rights which are not
affected by non-registration.
Q. State different types of partners and
partnership. 2021
Q. How can a minor become a partner of a partnership
firm? Discuss the rights and liabilities of a minor partner before and after
attaining majority.
Q. Write a brief note on implied authority of
partners.
Q. What is reconstitution of partnership? Explain the
rights of outgoing partners.
Q. What do you mean by dissolution of partnership
and partnership firm? Also distinguish between them. State various modes of
dissolution of partnership firm. 2019,
2022
Q. What are consequences of dissolution of
partnership firm? State the liabilities of partners in case of dissolution of
firm.
Q. What is partnership deed? Mention its contents. 2021SN
Part B
Q. What is an LLP? Explain the characteristics of an
LLP. 2019, 2021
Q. Write a brief note on rights and liabilities of
partners in case of an LLP.
Q. Differentiate between an LLP, a Partnership firm
and a Company.
Q. What are the advantages and disadvantages of
LLPs?
Q. What is a designated partner? How a partner can
be admitted in an LLP?
Q. How an LLP is incorporated?
Q. Write short note on:
- LLP Agreement and its content 2020
- Meaning and Qualification of partnership in case
of an LLP
Unit 5: THE NEGOTIABLE INSTRUMENTS ACT, 1881
Part A
Q. What are Various Types of negotiable
instruments? Mention essential features of negotiable instruments. 2012, 2016, 2021, 2022
Q. Point out differences between bills of exchange and promissory note. 2012, 2013, 2015, 2017, 2018
Q. Mention
the parties to a bill of exchange and discuss their liabilities. 2019, 2022
Part B
Q. What is Cheque? Mention its essentials. Draw a specimen of a cheque. 2015, 2017
Q. Distinguish between Cheque and Bills of Exchange.
Q. Difference between Cheque and Promissory note.
Q. What are Various Types of Cheques? Distinguish between them.
Q. When a banker may honour or dishonour a
cheque?
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