Business Laws Important Questions for Upcoming Exam, CBCS Pattern, B.Com 1st Sem and 2nd Sem

B.Com 1st& 2nd Sem Hons & Non-Hons (CBCS SYLLABUS)

Complete Notes Also Available Click on the Questions Given Below

Unit 1: The Indian Contract Act, 1872 (General Principles)

Part A

Q.”All Contracts are Agreements but all Agreements are not Contract.” Explain. Or what are the essentials of a valid contract?         2012, 2014, 2016, 2019, 2020

Q. What are various types of Contract? Distinguish between Valid, Void and Voidable contract. 2019

Q. “No Consideration, No Contract”. What are the Exceptions to this rule?  2012, 2015, 2017, 2018

Q. What is Offer and Acceptance? Explain the rules relating to offer and acceptance.

Q. What is Free Consent? When a consent is said to be free?

Q. Write Short notes on:

Ø  Fraud and Misrepresentations

Ø  Undue influence

Ø  Position of Minor

Part B

Q. What are the various modes of Discharge of a Contract? 2013, 2014, 2017, 2019

Q. What do you mean by Breach of Contract?What are the remedies available for Breach of Contract?

Q. What is contingent contract? Explain its essentials and rules.                       2018

Q. What is Quasi contract? Explain its various types with examples.             2015

Q. Distinguish between Contingent and Quasi Contract.


Unit II: The Indian Contract Act, 1872: Specific Contracts

Part A

Q. What is contract of indemnity? Define contract of guarantee? Explain the distinction between a contract of indemnity and guarantee.                       2019

Q. Define bailment? Explain essentials of a bailment contract.

Q. Write a brief not on various elements of contract of indemnity and guarantee.

Q. What is Bailment? What are Rights and duties of bailor and Bailee? Explain.           2019

Q. What is Pledge? Explain essentials of a pledge? Distinguish between bailment and pledge.

Q. “Non-owners can make a valid pledge”. Explain.

Q. Who is finder of goods? Discuss the rights and duties of finder of lost goods.

Q. What is a continuing guarantee? When and how is it revoked?                     2020

Part B

Q. Who is an agent? What are types of agents? How an agency is terminated?

Q. State the rights, duties and liability of an agent towards the principal?       2020

Q. Explain the methods of creation of agency. Discuss the scope and extent of agent’s authority.

Q. What do you mean by agency by ratification? Explain conditions of a valid ratification.

Q. Who may employ an agent? Who can be an agent? What is real and apparent authority?

Unit 3: The Sale of Goods Act, 1930

Part A

Q. Define the term Contract of Sale. What are the essentials elements of a contract of sale? Distinguish between Sale and Agreement to Sale. 2013, 2015, 2017, 2020 

Q. Distinguish between Condition and Warranty. Explain the cases where condition is treated as warranty.  2013, 2016, 2018

Q. Discuss Expressed and Implied conditions under Sale of Goods Act, 1930.   2012, 2014

Q. “No one can give a better title than whathe himself has.” Considering this rule explain the provisions relating transfer of goods by a non-owner/exceptions.

Q. Distinguish between hire purchase and sale and agreement to sale.

Q. What do you mean by ‘caveat emptor’? Discuss the exceptions to this rule.  2019

Part B

Q. Explain the rules relating to performance of contract of sale.

Q. Who is the Unpaid Seller? Discuss briefly his rights under sale of goods Act, 1930.    2012, 2019

Q. What do you mean by Delivery of Goods? Mention its various modes. Explain various rules regarding delivery of goods.

Q. Write Short Note on Goods under Sale of Goods Act.

Q. Explain the provisions of Sale of Goods Act' 1930 relating ot transfer of ownership.

Unit 4: Partnership Laws

Part A

Q. Define partnership and explain the essential elements of partnership.

Q. State the rights and duties of partners according to the law of partnership in India.         2020

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

Q. Is registration of a firm compulsory? What are the effects of non registration of a firm? Mention the rights which are not affected by non registration. 

Q. State different types of partners and partnership.

Q. How can a minor become a partner of a partnership firm? Discuss the rights and liabilities of a minor partner before and after attaining majority.

Q. Write a brief note on implied authority of partners.

Q. What is reconstitution of partnership? Explain the rights of outgoing partners.

Q. What do you mean by dissolution of partnership and partnership firm? Also distinguish between them. State various modes of dissolution of partnership firm.               2019,

Q. What are consequences of dissolution of partnership firm? State the liabilities of partners in case of dissolution of firm.

Part B

Q. What is an LLP? Explain the characteristics of an LLP.              2019,

Q. Write a brief note on rights and liabilities of partners in case of an LLP.

Q. Differentiate between an LLP, a Partnership firm and a Company.

Q. What are the advantages and disadvantages of LLPs?

Q. What is a designated partner? How a partner can be admitted in an LLP?

Q. How an LLP is incorporated?

Q. Write short note on:

Ø  LLP Agreement and its content 2020

Ø  Meaning and Qualification of partnership in case of an LLP


Part A

Q. Define the term Negotiable instruments. What are its presumptions? Mention its essential features.  2012, 2016

Q. Define Bills of exchange. Mention its essentials. Draw a Specimen of Bills of Exchange.   2012, 2013, 2015, 2017, 2018

Q. Define Promissory note. Mention its essentials. Draw a Specimen of Promissory Note. 2012, 2013, 2015, 2017, 2018

Q. Point out differences between bills of exchange and promissory note.   2012, 2013, 2015, 2017, 2018

Q. Mention the parties to a bill of exchange and discuss their liabilities.         2019

Q. Define Holder and Holder in due course and also distinguish between them. Explain the privileges’ enjoyed by Holder over holder in due course.2020

Part B

Q. What is Cheque? Mention its essentials. Draw a specimen of a cheque. 2015, 2017

Q. Distinguish between Cheque and Bills of Exchange. 2015, 2017

Q. Difference between Cheque and Promissory note.

Q. What are Various Types of Cheques? Distinguish between them.

Q. When a banker may honour or dishonour a cheque?

Q. Explain the meaning of negotiation andendorsement. What are its various kinds? Explain the rules relating to valid endorsement.

Q. What do you mean by crossing of a cheque? What are its various types? Explain with examples 2014, 2016, 2018, 2020

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