BCOC 133: Business Laws Important Questions

IGNOU BCOM Courses

1. Total Marks: 100 Marks | Time Allowed: 3 Hours.

2. Structure: The paper contains 9 questions; you must attempt any 5 questions.

3. Weightage: All questions carry equal marks (20 Marks each).

The Indian Contract Act:

1. Essentials of a Valid Contract (Section 10).

2. Provisions related to Minor's Agreements and Necessaries.

3. Distinction between Coercion and Undue Influence.

4. Remedies for Breach of Contract & Supervening Impossibility.

Special Contracts:

1. Rights of a Surety against the Principal Debtor, Creditor, and Co-sureties.

2. Rights and Duties of a Bailee vs. Finder of Lost Goods.

3. Agency by Ratification.

Sale of Goods Act:

1. Implied Conditions (Title and Description).

2. Rights of an Unpaid Seller (Lien vs. Stoppage in Transit).

Partnership & LLP:

1. Consequences and exceptions of Non-Registration of a Firm.

2. Modes of Dissolution of a Partnership Firm.

3. Structural differences between an LLP, a Traditional Partnership, and a Company.

Negotiable Instruments:

1. Distinctions between Promissory Notes, Bills of Exchange, and Cheques.

2. Privileges of a Holder in Due Course (HDC).

1. Quantum Meruit (Asked 3 times: Dec 2025, June 2022, Feb 2021)

2. Irrevocable Agency (Asked 4 times: June 2024, Dec 2022, June 2022, Dec 2021)

3. Doctrine of Caveat Emptor & its Exceptions (Asked 4 times: Dec 2024, June 2024, June 2023, Dec 2021)

4. Quasi Contracts (Asked 2 times: Dec 2024, Dec 2022)

5. Wagering Agreement (Asked 2 times: Dec 2025, Dec 2023)

6. Subagent and Substitute Agent / Relationship with Principal (Asked 2 times: Dec 2025, Dec 2024)

7. Right of Subrogation (Asked 1 time: Dec 2025)

8. Implied Authority of a Partner (Asked 1 time: Dec 2024)

9. Hundi (Asked 1 time: Dec 2024)

10. Inchoate Instruments (Asked 1 time: Feb 2021)

11. Position of a Pardanashin Woman in Contracts (Asked 1 time: June 2025)

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

1. What do you mean by a contract? Explain the essential elements of a valid contract giving suitable examples. (Asked 4 Times: Dec 2025, Dec 2024, June 2022, Dec 2021)

2. “The law of contract is not the whole law of agreements nor it is the whole law of obligations.” Discuss/Comment. (Asked 4 Times: June 2025, Dec 2023, June 2023, Feb 2021)

3. Differentiate between:

- Void agreement and voidable contract (Asked 2 Times: June 2025, Dec 2023)

- Void agreement and illegal agreement (Asked 2 Times: Dec 2023, Feb 2021)

- Executed and Executory contracts (Asked 1 Time: Feb 2021)

4. Define the term 'offer'. Discuss the legal rules for a valid offer and the circumstances under which an offer lapses or is revoked. Is there any time limit for revocation? (Asked 5 Times: June 2025, Dec 2023, Dec 2022, June 2022, Feb 2021)

5. What is acceptance? How can an offer be accepted? Who can accept an offer? (Asked 2 Times: June 2025, June 2022)

6. Explain the following terms with examples: (a) Cross offer, (b) Standing offer, (c) General offer, (d) Implied offer, (e) Counter-offer. (Asked 3 Times: June 2025, June 2024, June 2023)

7. Who is competent to contract? Discuss the provisions of law and the legal position relating to minor’s agreements with examples. (Asked 3 Times: Dec 2024, June 2022, Dec 2021)

8. What are necessaries? When is a minor liable on a contract for necessaries? (Asked 2 Times: Dec 2025, Dec 2024)

9. Who are treated as persons of unsound mind? State the legal position of contracts with such persons. (Asked 1 Time: June 2025)

10. Define consideration under the Indian Contract Act with suitable examples. What are the essential features or legal rules for valid consideration? (Asked 3 Times: Dec 2023, Dec 2022, June 2022)

11. In what cases a contract without consideration is not valid? Differentiate and discuss exceptions to the rule “No Consideration, No Contract”. (Asked 3 Times: Dec 2025, Dec 2024, Dec 2021)

12. “A stranger to a contract cannot sue.” Discuss. (Asked 1 Time: Dec 2022)

13. Define 'coercion' and 'undue influence'. What are their effects on the validity of contracts? Distinguish between coercion and undue influence. (Asked 4 Times: June 2025, Dec 2024, June 2024, June 2022)

14. Define fraud and point out its effect on the validity of the contract. Discuss the elements which must be present to constitute fraud with examples. Does silence express fraud? (Asked 3 Times: Dec 2025, June 2025, Dec 2022)

Define consent. When is consent said to be free? Differentiate between Fraud and Misrepresentation. (Asked 2 Times: June 2023, Dec 2022)

6. Legality of Object & Public Policy

Under what circumstances is the object or consideration of a contract deemed unlawful? Support your answer with examples. (Asked 1 Time: Dec 2024)

What is the doctrine of public policy? Discuss the commonly accepted grounds that are considered opposed to public policy with examples. (Asked 2 Times: June 2024, June 2023)

“An agreement in restraint of trade is void.” Examine this statement and explain its exceptions, if any. (Asked 2 Times: Dec 2022, Feb 2021)

7. Discharge, Breach, and Remedies

What is a breach of contract? Discuss the remedies available to an aggrieved party on the breach of a contract (including specific performance, injunction, and quantum meruit). (Asked 4 Times: June 2025, June 2024, June 2023, Feb 2021)

Discuss the various modes in which a contract may be discharged. When is a contract discharged by mutual agreement and operation of law? (Asked 2 Times: Dec 2022, Feb 2021)

Discuss in detail the doctrine of ‘supervening impossibility’ / discharge of contract by impossibility of performance along with its key exceptions. (Asked 3 Times: June 2025, Dec 2023, Dec 2021)

What are the rules regarding different types of damages? (Asked 1 Time: June 2025)

Block 2: Special Contracts (Indemnity, Guarantee, Bailment, Pledge & Agency)

1. Define a contract of guarantee. Distinguish between a contract of indemnity and a contract of guarantee. What are the special features of a guarantee? (Asked 4 Times: Dec 2024, June 2023, June 2022, Feb 2021)

2. Explain the rights of a surety against: (i) the principal debtor, (ii) the creditor, and (iii) co-sureties. (Asked 3 Times: Dec 2024, Dec 2023, June 2022)

3. Explain the circumstances when a surety is discharged from his liability. (Asked 1 Time: Dec 2021)

4. Define Bailment. What are the essentials of a valid bailment and explain the different kinds of bailment? (Asked 3 Times: Dec 2024, June 2024, Dec 2021)

5. Explain in detail the rights and duties of a bailee. What do you understand by a lien? Describe the particular lien and general lien of a bailee. (Asked 3 Times: June 2025, June 2023, June 2022)

6. Who is a finder of goods? What are his rights, duties, and the nature of the lien which the finder has over the lost goods? (Asked 3 Times: Dec 2023, Dec 2022, Feb 2021)

7. Explain the circumstances and situations when a person other than the owner can make a valid pledge (Pledge by non-owners). (Asked 3 Times: Dec 2023, June 2023, Dec 2022)

8. Explain in detail the rights and duties of an agent. What do you mean by Delegation of Authority by an agent? (Asked 3 Times: Dec 2025, June 2025, Dec 2023)

9. Explain the various ways by which a contract of agency may be terminated. (Asked 1 Time: June 2025)

10. What is the meaning of agency by ratification? Explain the requisites/conditions for a valid ratification with examples. (Asked 3 Times: Dec 2024, June 2023, Feb 2021)

11. Define an ‘Agent’ and ‘Principal’. Can a minor be an agent? Discuss. Classify types of agents. (Asked 2 Times: June 2023, Dec 2022)

Block 3: The Sale of Goods Act, 1930

1. Define the term 'goods' in a contract of sale of goods. Explain the various types of goods. (Asked 4 Times: Dec 2025, June 2025, June 2022, Dec 2021)

2. Explain and differentiate between a sale and an agreement to sell. (Asked 3 Times: Dec 2024, June 2022, Dec 2021)

3. Explain the rules regarding the transfer of ownership in a sale of goods contract. (Asked 1 Time: June 2023)

4. Define 'condition' and 'warranty' in the Sale of Goods Act. Distinguish between a condition and a warranty. What are the kinds of conditions? (Asked 3 Times: June 2025, June 2022, Feb 2021)

5. Explain in detail, with suitable examples, the implied conditions in a contract of sale of goods (specifically focusing on title/ownership and sale by description). (Asked 2 Times: Dec 2023, Dec 2022)

6. What do you mean by an unpaid seller? What are the rights of an unpaid seller against the goods (Lien, Stoppage in transit) and against the buyer? Distinguish between ‘lien’ and ‘stoppage in transit’. (Asked 4 Times: Dec 2025, June 2025, Dec 2023, June 2022)

7. What is meant by the delivery of goods? What are the rules regarding the delivery of goods? Discuss the rights of a buyer in case of short delivery, excess delivery, and mixed delivery. (Asked 3 Times: Dec 2024, June 2023, Feb 2021)

8. Explain the rules governing a sale by non-owners. (Asked 1 Time: Dec 2022)

Block 4: The Indian Partnership Act, 1932 & Limited Liability Partnership (LLP)

1. Explain briefly the procedure for the registration of a partnership firm. What are the consequences and effects of non-registration? What are the exceptions to non-registration? (Asked 4 Times: Dec 2025, June 2024, June 2022, Feb 2021)

2. Explain the rights and duties of an incoming partner and an outgoing partner. (Asked 1 Time: June 2025)

3. What is the dissolution of a partnership firm? Describe the different modes of dissolution of a firm. (Asked 2 Times: June 2024, Dec 2022)

4. Differentiate between the dissolution of a partnership and the dissolution of a firm. Explain the rights and liabilities of partners on the dissolution of a partnership firm. (Asked 2 Times: Dec 2023, Dec 2021)

5. What is a Limited Liability Partnership (LLP)? What are its characteristics? Differentiate between a Limited Liability Partnership and a traditional Partnership. (Asked 2 Times: Dec 2023, Dec 2022)

6. Which characteristics of a limited liability partnership firm and a company are similar? In what aspects does it differ from a company? (Asked 1 Time: Dec 2025)

Block 5: The Negotiable Instruments Act, 1881

1. What is a Promissory Note? Describe its essential characteristics. Differentiate between a Promissory Note and a Bill of Exchange, and a Bill of Exchange and a Cheque. (Asked 4 Times: Dec 2025, June 2025, Dec 2023, June 2023)

2. What is a Bill of Exchange? Discuss its essential elements and explain the various types of bills. (Asked 2 Times: June 2022, Dec 2021)

3. What is the crossing of a cheque? Explain various types of crossing of a cheque. When can a bank refuse payment on a customer's cheque? (Asked 1 Time: Dec 2025)

4. Differentiate between a holder and a holder in due course. What privileges are available to a holder in due course under the law? (Asked 2 Times: June 2025, Dec 2021)

5. What is the meaning of indorsement? What are its different kinds? Explain in detail. (Asked 2 Times: Dec 2024, June 2022)

6. What is 'negotiation' and 'assignment'? What are the differences between these two? (Asked 1 Time: June 2024)

7. Discuss the rules regarding 'presentation for payment' and 'presentment for acceptance' of a negotiable instrument. (Asked 3 Times: June 2023, Dec 2022, Dec 2021)

8. What are the rules applicable when a negotiable instrument is lost? (Asked 1 Time: June 2024)