Unique Paper Code 7762
Revised 0 of 28

Business LawsNovember–December 2017

B.Com (Hons) · 5 questions · 2 parts still being checked

Duration: 2.5 HoursMaximum Marks: 75

From an older CBCS paper

Reworded by Kunji from the printed paper. The original paper belongs to the University of Delhi. See DU's question bank.

Before you start

  1. Pace. Two minutes a mark: about 30 minutes for each 15-mark question, with nothing spare in 2.5 hours. Pick your side of each OR before you start writing.
  2. Keep score. Every part opens a worked answer checked against the books. Turn the key when you have revised it; the boxes at the top fill in, on this device.

1.

15 marks
· ~30 min
(a)True or false: illegal and void agreements; mistake of law; silence as acceptanceGiving brief reasons, State whether each statement below is True or False : (i) Illegal agreements are all void, but void agreements are not necessarily all illegal. (ii) A mistake as to the law of the land is not…(9)
(b)An agreement without consideration is void: the rule and its exceptionsAn agreement without consideration is void. Comment.(6)
OR
(a)True or false: fraud; voidable contract and a stranger; quasi contractsGiving brief reasons, State whether each statement below is True or False : (i) Fraud is a wilful misrepresentation of facts. (ii) A stranger can enforce a voidable contract. (iii) Quasi contracts rest on the principle…(9)
(b)Agreements in restraint of trade are void: the rule and its exceptions“Agreements in restraint of trade are void”. Giving suitable examples, Critically examine this statement.(6)

2.

15 marks
· ~30 min
(a)Essentials of bailmentExplain three of the essentials of a contract of bailment.(3)
(a)Ratification relates back“The effect of ratification is retrospective.” Comment.(3)
(a)Minor's loan obtained by fraudS, a minor, represented fraudulently to L that he was a person of full age, and obtained from L a loan of ₹1,20,000. Later he refused to pay it back. For the money that was lent, is L entitled to take any action against…(3)
(b)Remedies for breach of contractDiscuss briefly the various types of remedies that an aggrieved party has in case of breach of contract.(6)
OR
(a)Wagering agreement and contingent contractDistinguish between a ‘Wagering Agreement’ and a ‘Contingent Contract’.(4.5)
(a)Auction advertised and withdrawnX advertised an auction of “Electronic Goods”, to be held at a specified time and place. On travelling to the auction place, Y came to know that the auction had been withdrawn. He sues X to recover compensation for his…(4.5)
(b)Rights of a surety against the principal debtor, the creditor and co-suretiesDiscuss the rights a surety has against the principal debtor, the creditor and co-sureties.(6)

3.

15 marks
· ~30 min
(a)Implied conditions in a contract of saleIn a Contract of Sale, Explain the various implied conditions.(9)
(b)Specific and unascertained goods; horse on sale or return dying during the trial periodDistinguish between goods that are ‘Specific’ and ‘Unascertained’ goods’. (ii) On a ‘Sale or return basis’, A delivered a horse to B. Under the agreement, B was to try the horse for 10 days and the return, should he not…(6)
OR
(a)Nemo dat quod non habet and its exceptions‘Nemo dat Quod non habet’( A person cannot give what he does not possess). Explain this maxim, and state its exceptions).(9)
(b)Stoppage in transit as an extension of lien; buyer who resold unexamined computers“The right of stoppage in transit of goods is an extention of the right of lien”. Comment. (ii) Without examining them, the buyer took delivery of 12 computers from the seller. Later he sold 6 computers to his customer,…(6)

4.

15 marks
· ~30 min
(a)Designated partners' eligibilityFor the appointment of Designated partners, what are the eligibility conditions?(3)
(a)Change of nameExplain the rules on a change of name of an LLP.(3)
(a)Contents of the incorporation documentState the contents of the Incorporation Document of an LLP.(3)
(b)Taxation of an LLPState provisions regarding taxation of LLP.(6)
OR
(a)
Who may petition for winding up of an LLP, and the groundsBeing checked
(9)
(b)Cessation of a partner of an LLPIn what ways can an existing partner of an LLP cease to be a partner ? What are the consequences of the cessation?(3)
(b)Whether a partner is ever liable without limitFor the debts of the LLP, a partner shall never be liable to an unlimited extent. Critically examine the statement.(3)

5.

15 marks
· ~30 min
(a)Duties of a subscriberUnder the IT Act, what are the duties of a subscriber?(3)
(a)Public key and private keyDistinguish between the public key and the private key?(3)
(a)Cyber TerrorismWhat do you mean by Cyber Terrorism?(3)
(b)Creation and verification of a digital signatureState the procedure of creation and verification of digital…(6)
OR
(a)Legal recognition of electronic records and signaturesExplain the Legal recognition of electronic records and of electronic signatures.(3)
(a)Tampering with source documentsExplain the meaning of ‘Tempering with computer source document’ and the punishment for it.(3)
(a)Asymmetric crypto systemDefine ‘Asymmetric Crypto System’.(3)
(b)
Short note: the Appellate Tribunal under the IT ActBeing checked
(6)

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