2015
(July)
COMMERCE
Paper: 203
(Business Regulatory Framework)
Full Marks: 90
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Choose the correct answer: 1x8=8
- Indian Contract Act was passed in 1872/1972.
- An agreement to sell is an executed/executor contract.
- An unpaid seller obtains/not obtains right against goods.
- Bill of Exchange has two/three parties.
- Days of grace is not allowed/allowed in cheque.
- According to Partnership Act the liability of partners is limited/unlimited.
- FEMA came into force from June 1, 2000/2001.
2. (a) What are the essential elements of a valid contract? 13
Or
(b) Discuss the various modes of discharge of contracts. 13
3. (a) Distinguish between sale and agreement to sale. 13
Or
(b) Distinguish between condition and warranty. Illustrate when condition is treated as warranty. 5+8=13
4. (a) What do you mean by cheque? Describe crossing of a cheque in details. 4+9=13
(b) Elucidate the characteristics of negotiable instruments. 13
5. (a) Who is complainant under Consumer Protection Act? Explain the word ‘Consumer’ under this Act. 6+7=13
Or
(b) Describe different types of partners according to Indian Partnership Act. 13
6. (a) Illustrate: 7x2=14
- Capital account transaction.
- Current account transaction.
Or
(b) What is Foreign Exchange Management Act? State the salient features of this Act. 4+10=14
7. Write short notes on (any four): 4x4=16
- Void Contract.
- Caveat Emptor.
- Price.
- Holder.
- Coercion.