Unique Paper Code 1404
Revised 0 of 25

Business LawsJanuary 2024

B.Com (Hons) · 5 questions

Duration: 3 HoursMaximum Marks: 90

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. Most asked here. Contract of sale, goods and property (12 papers), Conversion into LLP (11 papers), Contract: nature, kinds, offer and acceptance (11 papers). These come back almost every year, so learn them first. The asked N× note beside each part counts the DU papers that set its topic.
  2. Pace. Two minutes a mark: about 36 minutes for each 18-mark question, with nothing spare in 3 hours. Pick your side of each OR before you start writing.
  3. 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.

18 marks
· ~36 min
(a)Void agreements; agreements in restraint of tradeasked 8×Define what is meant by "void agreements"? Discuss, with suitable examples, those agreements that are in restraint of trade.(6)
(b)Offer and the legal rules for a valid offerasked 11×Define offer. Under the Indian Contract Act, 1872, what legal rules govern a valid offer.(6)
(c)Luxury clothes bought by a minor on credit; liability for necessariesasked 7×Kunal, a minor, bought six luxury clothes from Madhav Traders on credit. Later on, after the refusal from the Kunal to pay off the price for luxury clothes, Mr. Madhav filed a suit against the Mr. Kunal. Can the sum be…(6)
OR
(a)Misrepresentation and fraudasked 8×Differentiate between Misrepresentation and Fraud.(6)
(b)Consideration and the exceptions to "no consideration, no contract"asked 10×Define consideration. Also discuss what exceptions exist to the rule "No consideration No contract."(6)
(c)A minor's agreement is void ab initio; restitutionasked 7×"An agreement with a minor is void ab initio" Discuss. Further, state what the provisions on restitution are in the case of a minor's agreements.(6)

2.

18 marks
· ~36 min
(a)Discharge of contract; discharge by agreementasked 7×What is meant by discharge of a contract? Discuss the modes by which the discharge of a contract can take place by agreement, under the Indian Contract Act, 1872.(6)
(b)Damages and penaltiesasked 7×Distinguish between damages and penalties under Indian Contract Act, 1872.(6)
(c)Suit for quantum meruit and suit for specific performanceasked 7×Discuss the "suit for Quantum Meruit" and the "suit for Specific Performance", as available under the Indian Contract Act, 1872.(6)
OR
(a)Supervening impossibility and the cases it coversasked 7×What is supervening impossibility? Discuss the cases that fall within supervening impossibility.(6)
(b)Breach of contract; actual and anticipatory breachasked 7×What is meant by "breach of contract." Differentiate between an actual breach of contract and an anticipatory one.(6)
(c)Delay in carriage: claim for loss of profitasked 7×Mr. Farhan, a famous tailor for sherwani's delivered a lot of clothes at Rajkot railway station for consignment to Kanpur on 1st of November 2022. Mr. Farhan needed the lot delivered by the end of November, since the…(6)

3.

18 marks
· ~36 min
(a)Agency by estoppel and agency by necessityasked 7×What do 'Agency by Estoppel' and 'Agency by Necessity mean? Explain the provisions of the Indian Contract Act on the Contract of Agency that are relevant to these.(6)
(b)Sale and agreement to sellasked 12×Differentiate a sale from an agreement to sell, under the Sales of Goods Act, 1930.(6)
(c)Conditions and warranties; implied conditionsasked 9×Define the terms condition and warranties as used in the Sales of Goods Act, 1930. Also discuss which conditions are implied.(6)
OR
(a)Caveat emptor and its exceptionsasked 9×What does 'Caveat Emptor' mean? Explain what exceptions the Sales of Goods Act, 1930 makes to the doctrine of caveat emptor.(6)
(b)Nemo dat quod non habet and its exceptionsasked 4×"No seller can transfer to a buyer of goods a better title than the one he himself has." Comment, giving the exceptions to this rule.(6)
(c)Unpaid seller's rights where property has not passedasked 5×Discuss what rights an unpaid seller has against the goods while the property in the goods has not yet passed to the buyer.(6)

4.

18 marks
· ~36 min
(a)Who can become a partner in an LLP; disqualificationsasked 10×Who can become a partner in an LLP? What disqualifies a person from becoming a partner?(6)
(b)Registration of an LLPasked 9×Explain the process for registration of an LLP under the LLP Act, 2008.(6)
(c)Conversion of a firm into an LLPasked 11×Discuss the provisions governing the conversion of a firm into an LLP, under the LLP Act, 2008.(6)
OR
(a)Designated partners and their disqualificationsasked 10×Under the LLP Act, 2008, who are the designated Partners. Also discuss the grounds that disqualify designated partners.(6)
(b)Partner as agent of the LLP; liability for fraudasked 10×"Partner act as an agent of the LLP". Comment. In addition, discuss the liability of the partners where fraud is involved.(6)
(c)Partnership firm and LLP distinguishedasked 10×Differentiate between the partnership firm and LLP.(6)

5.

18 marks
· ~36 min
Short notes: indemnity and guarantee; termination of agency; void and illegal agreementsWrite a short note on any three of the following: (a) Contract of Indemnity versus Contract of Guarantee. (b) Whistle blowing as provided in the LLP Act, 2008. (c) Provisions on Termination of Agency (d) Void versus…(18)

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