B.Com 2nd Year Question Papers (Distance): Business Regulatory Framework' 2017

Paper: 203
(Business Regulatory Framework)
Full Marks: 90
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. (a) What are the essential elements of a valid contract?               12

(b) ‘No consideration no contract’ – explain. Discuss the exceptions to this rule.               12
2. (a) Who is an unpaid seller? Discus his rights.                    13
(b) Discuss the implied conditions under the Sale of Goods Act, 1930.           13
3. (a) What do you understand by Promissory Note? Elucidate the essentials of a promissory note.         4+8=12
(b) Write the differences between Cheque and Bill of exchange.         12
4. (a) Explain how to file complaint under the Consumers’ Protection Act.     12
(b) Define Partnership firm. Elucidate the main features of a partnership firm.         4+8=12
5. (a) Explain the obligations of exporter of goods and services under FEMA-2000.    13
(b) Write notes on:
1)         Current Account Transaction.              7
2)         Prohibited Capital Account Transaction.          6
6. Write short notes on:                      5x4=20
a)         Illegal agreements.
b)         Unpaid seller.
c)          Special Crossing of a cheque.
d)         District Forum.
7. Write True or False:                    1x8=8
a)         Offer may be implied.
b)         Contract is discharged by commercial impossibility.
c)          Money cannot be a subject matter of sale under Sale of Goods Act, 1930.
d)         Condition is an unessential stipulation to main purpose of a contract.
e)         The Negotiable Instrument Act of India is applicable from 1981.
f)          A cheque is not payable on demand.
g)         District Forum can entertain complaints where the value of goods / services and compensation, if any, exceeds rupees twenty lakh.
h)         FEMA-2000 deals with export of goods and services only.


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