Kannur University 2010 B.Com Financial Markets Third Semester , (Complementary) 3C03COM: BUSINESS REGULATORY FRAMEWORK ( No3) - Question Paper

Third Semester B.Com Degree Examination, November 2010

BCOM (Complementary)

3C03COM: BUSINESS REGULATORY FRAMEWORK (Course No. 3)

Time: 3 Hours Total Weight: 30

PART- A

This part consist of two bunches of questions carrying equal weightage of one. Each bunch consists of four objective types of questions. Answer all questions:

I.1) An agreement which is binding and enforceable is known as a _________ agreement.

a) void b) valid c) voidable d) quasi

2) An offer lapses after stipulated time or after _________

a) 6 months b) one month c) reasonable time d) none of these

3) A contract by which one party promises to save the other from loss caused to him by conduct of promisor is known as contract of

a) guarantee b) agency c) performance d) indemnity

4) Caveat Emptor means

a) buyer beware b) take responsibility

c) provide facilities d) consumer benefit

(W=1) (WGP=4*1*1=4)

II. 5) A bill of exchange is accepted by

a)     Creditor b) debtor c) banker d) notary

6) The Competition Act was enacted in the year

a) 2003 b) 1963 c) 1972 d) 2000

7) Gratuity is generally paid

a) at the end of every year b) after retirement

c) at the time of national festival d) none of these

8) A contract to do or not to do is

a) reciprocal contract b) agency contract

c) contract of warranty d) contingent contract

(W=1) (WGP=4*1*1=4)

PART B

Answer any eight questions in one or two sentences each. Each question carries a weightage of one:

9. What is meant by express contract?

10. Who can accept a contract?

11. Define consideration.

12. What is privity of contract?

13. Define injunction.

14. What is retrospective guarantee and prospective guarantee?

15. State the meaning of right of subrogation.

16. What do you mean by implied agency?

17. Define future goods.

18. Define promissory note.

(W=8*1=8) (WGP=8*4*1=32)

PART C

Answer any six questions. Answer not to exceed one page. Each question carries a weightage of two:

19. List the essentials of a valid contract.

20. Explain any 4 requirements of an offer.

21. Explain quasi contract.

22. Distinguish between indemnity and guarantee.

23. Explain the right of the surety against creditors.

24. How an agency can be terminated?

25. Describe the essential elements of sale as per Sale of Goods Act.

26. State the objectives of Payment of Bonus Act, 1965.

(W=6*2=12) (WGP=6*4*2=48)

PART D

Answer any two. Each question carries a weightage of four. Answer not to exceed four pages:

27. Explain various models of discharge of contract.

28. Define cheque. What are the essentials of a cheque? How is it different from a bill of exchange?

29. Explain wages as per Payment of Wages Act. Who is responsible for payment of wages? State the provisions of the Act regarding period and time of payment of wages.

(W=2*4=8) (WGP=2*4*4=32)

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