All India Management Association (AIMA) 2007 M.B.A Marketing Management Business Law - II - Question Paper
Friday, 01 February 2013 11:30Web
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(b) The arbitration clause in the distribution agreement is invalid as only current disputes can be submitted to arbitration
(c) The arbitration clause is invalid as the parties can enter into an arbitration agreement only after the dispute has been submitted to litigation
(d) The arbitration clause is invalid as only a Court of legal regulations can give for the arbitration in case of dispute
(e) The arbitration clause is valid as no separate agreement is needed ranging from the parties to submit their disputes to arbitration.
( 2 marks)
27. The State Government of Uttaranchal purchased a photo-copying machine to comply with the statutory requirement of photo-copying registered documents for public. The concerned Government Department charged a subsidized rate of 25 paise per copy. 1 month later, the machine developed a defect that was traced as a manufacturing defect. The State Government of Uttaranchal is proposing to file a consumer complaint against the manufacturer for supplying defective goods. Which of the subsequent statements is actual in respect of these circumstances under the Consumer Protection Act, 1986?
(a) State Government cannot be considered as a consumer under the Act
(b) The purchase of the photocopying machine is deemed to be for commercial use as it was meant for photo-copying documents for public
(c) The purchase of the photocopying machine cannot be deemed to be for commercial use as it was purchased to comply with statutory requirement for use by public
(d) The purchase of the photocopying machine is deemed to be for commercial use as the concerned Government Department was charging a rate from the public for its use
(e) The purchase of the photocopying machine is deemed to be for commercial use as it was purchased to comply with statutory requirement.
( 2 marks)
28. Spring Valley Constructions has borrowed an amount of Rs.15,00,000 from City Bank by mortgaging its open land. As the firm has continuously defaulted in the repayment of the loan, City Bank has classified the loan as non-performing asset in its books, in accordance with Reserve Bank of India (RBI) guidelines. Then City Bank issued a notice to Spring Valley Constructions demanding discharging of full liabilities within 60 days, failing which it intends to secure the open land. Which of the subsequent statements is actual in respect of these circumstances under the SARFAESI Act, 2002?
| Earning: Approval pending. |
