Gauhati University B.Com 1st Sem Question Papers
4 (Sem–1/CBCS) BUSL
2020 (Held in 2021)
BUSINESS LAWS (Honours)
Full Marks: 80
Time: Three hours
The figures in the margin indicate full marks for the questions.
Answer either in English or in Assamese
1. (a)Choose the correct option from the following: 1×5=5
(i) The Indian Contract Act, 1872 came into force on
1) 1st January, 1872.
2) 1st April, 1872.
3) 1st July, 1872.
4) 1st September, 1872.
(ii) In a sale there is an implied condition on the part of the seller that he
1) is in possession of the goods.
2) will have the right to sell.
3) will possess the goods.
4) has a right to sell the goods.
(iii) The provisions regarding maximum number of members in a partnership are given in
1) the Companies Act.
2) the Partnership Act.
3) the Contract Act.
4) the Societies Registration Act.
(iv) The Right to Information Act, 2005 came into force on
1) 12th January, 2005.
2) 12th April, 2005.
3) 12th October, 2005.
4) 12th December, 2005.
(v) A contract of indemnity is a
1) contingent contract.
2) wagering contract.
3) quasi contract.
4) future contract.
(b) State whether the following statements are correct or incorrect: 1×5=5
1) A bill of exchange needs acceptance.
2) The Sale of Goods Act, 1930 came into force from 1st July, 1930.
3) A contract with or by a minor is a valid contract.
4) An agent cannot work for more than one principal.
5) Registration of limited liability partnership shall be with the Registrar of Companies.
Also Read: Gauhati University Business Laws Question Papers
2. Answer the following questions in brief: 2×5=10
a)What is void agreement?
b)Write two elements of a contract of indemnity.
c)Write two differences between sale and hire-purchase.
d)Who are the parties to a cheque?
e)Write two differences between partnership and co-ownership.
3. Answer any four of the following questions: 5×4=20
a) Briefly explain various kinds of contract on the basis of formation and performance.
b) Briefly state different types of partners.
c) State the rights of bailee.
d) Briefly explain the quasi-contracts dealt with under the Indian Contract Act.
e) Distinguish between promissory note and cheque.
f) Explain different types of goods under the Sale of Goods Act, 1930.
4. What is consideration in a contract? Discuss the rules relating to consideration.2+8=10
Discuss the essential elements of a valid contract. 10
5. (a)Discuss the rights of surety against the creditor and the principal debtor. 6
(b) Explain the duties of an agent. 4
State the essential elements of a contract of sale. Also distinguish between sale and agreement to sell. 5+5=10
6. (a)Distinguish between Partnership and Limited Liability Partnership. 6
(b) State various documents required for registration of limited liability partnership. 4
Explain the procedures of registration of partnership firm. Also state the benefits of registration of partnership firm. 6+4=10
7. (a)State the privileges enjoyed by a holder in due course. 5
(b) Explain various types of crossing of a cheque. 5
Discuss the obligations of public authorities under the Right to Information Act, 2005. 10