Dibrugarh University - Business Regulatory Framework 2010

Q.1.  Define consent. When a consent is said to be free? What is the effect of free consent on the formation of a contract?

OR

What is a contract of indemnity? Explain the differences between contract of indemnity and contract of guarantee.

Q.2.  What are the differences between sale and agreement to sell? When does an agreement to sell become sale?

OR

What is meant by auction sale? State the legal rules regarding auction sale.

Q.3.  Define bills of exchange. State its essential characteristics. In what ways does it differ from a cheque?

OR

 What do you mean by bouncing of cheque? State the latest provisions (as amended in 2002) relating to bouncing of cheques.

Q.4.  What is complaint under consumer protection act, 1986? Who can file a complaint and where? Write a note on the procedure to be followed in admission of a complaint.

OR

A partnership comes into existence by virtue of an agreement and not by status. Comment.

Q.5.  State the obligations of exporter of goods and services under foreign exchange management act, 2000.

OR

Explain the following terms under the foreign exchange management act, 2000: