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Business Laws and Business Correspondence and Reporting

Section A: Question No. 1 is compulsory.Attempt any four questions from the remaining five questions.Section B: Question No. 7 is compulsory.Attempt any three questions from the remaining four questions.
  • Question 1
    (a) X, Y and Z are partners in a firm. They jointly promised to pay ₹ 3,00,000 to D. Y become insolvent and his private assets are sufficient to pay 1/5 of his share of debts. X is compelled to pay the whole amount to D. Examining the provisions of the Indian Contract Act, 1872, decide the extent to which X can recover the amount from Z. [4 Marks]
    (b) Ravi Private Limited has borrowed ₹ 5 crores from Mudra Finance Ltd. This debt is ultra vires to the company. Examine, whether the company is liable to pay this debt? State the remedy if any available to Mudra Finance Ltd.? [4 Marks]
    (c) What is meant by delivery of goods under the Sale of Goods Act, 1930? State various modes of delivery. [4 Marks]
    VIEW SOLUTION
  • Question 2
    (a) State the exceptions to the rule "An agreement without consideration is void". [5 Marks]
    (b) What are the essential elements to form a LLP in India as per the LLP Act, 2008? [5 Marks]
    (c) (i) Distinguish between wagering agreement and contract of insurance. [2 Marks]
    OR  
    (ii) Examine with reason that the given statement is correct or incorrect
         "Minor is liable to pay for the necessaries supplied to him".
    [2 Marks]
    VIEW SOLUTION
  • Question 3
    (a) Distinguish between dissolution of firm and dissolution of partnership. (2 Marks)
    (b) What are the consequences of Non - Registration of a Partnership Firm? Discuss. (4 Marks)
    (c) M Ltd., contract with Shanti Traders to make and deliver certain machinery to them by 30.6.2017 for ₹ 11.50 lakhs. Due to labour strike, M Ltd. could not manufacture and deliver the machinery to Shanti Traders. Later, Shanti Traders procured the machinery from another manufacturer for ₹ 12.75 lakhs. Due to this Shanti Traders was also prevented from performing a contract which it had made with Zenith Traders at the time of their contract with M Ltd. and were compelled to pay compensation for breach of contract. Advise Shanti Traders the amount of compensation which it can claim from M Ltd., referring to the legal provisions of the Indian Contract Act, 1872. (6 Marks)
    VIEW SOLUTION
  • Question 4
    (a) What is appropriation of goods under the Sale of Goods Act, 1930? State the essentials regarding appropriation of unascertained goods. (6 Marks)
    (b) X, Y and Z are partners in a Partnership Firm. They were carrying their business successfully for the past several years. Spouses of X and Y fought in ladies club on their personal issue and X's wife was hurt badly. X got angry on the incident and he convinced Z to expel Y from their partnership firm. Y was expelled from partnership without any notice from X and Z. Considering the provisions of the Indian Partnership Act, 1932, state whether they can expel a partner from the firm. What are the criteria for test of good faith in such circumstances? (6 Marks)
    VIEW SOLUTION
  • Question 5
    (a) Mr. D sold some goods to Mr. E for ₹ 5,00,000 on 15 days credit. Mr. D delivered the goods. On due date Mr. E refused to pay for it. State the position and rights of Mr. D as per the Sale of Goods Act, 1930 (6 Marks)
    (b) Define OPC (One Person Company) and state the rules regarding its membership. Can it be converted into a non - profit company under Section 8 or a private company? (6 Marks)
    VIEW SOLUTION
  • Question 6
    (a) Define Fraud. Whether "mere silence will amount to fraud" as per the Indian Contract, 1872? (5 Marks)
    (b) What is the conclusive evidence of partnership? State the circumstances when partnership is not considered between two or more parties. (4 Marks)
    (c) State the limitations of the doctrine of indoor management under the Companies Act, 2013. (3 Marks)
    VIEW SOLUTION
  • Question 7
    (a) Read the passage carefully and answer the questions given below:
    A life of action and danger moderates the dread of death. It not only gives us fortitude to bear pain, but teaches us at every step the precarious tenure on which we hold our present being. Sedentary and studious men are the most apprehensive on this score. Dr. Johnson was an instance in point. A few years seemed to him soon over, compared with those sweeping contemplations on time and infinity with which he had been used to pose himself. In the still life of a man of letters there was no obvious reason for a change. He might sit in an arm chair and pour out cups of tea to all eternity would it had been possible for him to do so. The most rational cure after all for the inordinate fear of death is to set a just value on life. If we mere wish to continue on t he scene to indulge our head - strong humour and tormenting passions, we had better be gone at once; and if we only cherish a fondness for existence according to the good we desire from it, the pang we feel at parting it will not be very server.
    (i) What type of people are afraid of death and Why?      (1 Mark)
    (ii) How can we get rid of fear of death?     (1 Mark)
    (iii) What idea do you form about Dr. Johnson from this passage?     (1 Mark)
    (iv) Write Summary of the Passage.     (2 Marks)
     
    (b) Read the passage:
    (i) Make Notes, using headings, sub headings, and abbreviations whenever necessary.      (3 Marks)
    (ii) Write Summary.        (2 Marks)
    (I) Anything printed and bound in a book size can be called a book, but the quality or mind distinguishes the value of it.
    What is a book? This is' how Anatole France describes it: "A series of little printed signs essentially only that. It is for the reader to supply himself the forms and colors and sentiments to which these signs correspond. It will depend on him whether the book be dull or brilliant, hot with passion or cold as ice. Or if you prefer to put it otherwise each word in a book is a magic finger that sets a fibre of our brain vibrating like a hard string and so evokes a note from the sounding board of our soul No matter how skilful, how inspired the artist's hand, the sound it makes depends on the quality of the strings within ourselves"
     
    Until recently books were the preserve of a small section ______ the urban upper classes. Some, even today, make it a point to call themselves intellectuals. It would be a pity if books were meant only for intellectuals and not for housewives, farmers, factory workers, artisans and, so on.
     
    In India there are first generation learners, whose parents might have been illiterate. This poses special challenges to our authors and to those who are entrusted with the task of disseminating knowledge. We need much more research in the use of language and the development of techniques by which know ledge can be transferred to these people without transmission loss. Publishers should initiate campaigns to persuade people that a good book makes a beautiful present and that reading a good book can be the most relaxing as well as absorbing of pastimes. We should aim at books of quality no less than at quantitative expansion in production and sale. Unless one is constantly exposed to the best, one cannot develop a taste for the good.       (2 Marks)
    VIEW SOLUTION
  • Question 8
    (a) Define visual communication.         (2 Marks)

    (b) (i) Choose the word which best expresses the meaning of the given word:
    Perpetual
    (1) General
    (2) Emotional
    (3) Stubborn
    (4) Continuous                              (1 Mark)
    (ii) Select a suitable antonym for the word given in question:
    Disparage
    (1) Eulogise
    (2) Belittle
    (3) Alert
    (4) Defame
    (iii) Change the following sentence to indirect speech:
     The policeman said to the stranger who are you.   (1 Mark)

    (c) Write a precis and give appropriate title to the passage given below:
     
    Teaching is the noblest of professions. A teacher has a scared duty to perform. It is he on whom rests the responsibility of moulding the character of young children. Apart from developing their intellect, he can inculcate in them qualities of good citizenship, remaining neat and clean, talking decently and sitting properly. These virtues are not easy to be imbibed. Only he who himself leads a life of simplicity, purity and rigid discipline can successfully cultivate these habits in his pupils.

    Besides a teacher always remain young. He may grow old in age, but not in spite. Perpetual contact with budding youths keeps him happy and cheerful. These are moments when domestic worries weigh heavily on his mind, but the delightful company of innocent children makes him overcome his transient moods of despair.       (5 Marks)
    VIEW SOLUTION
  • Question 9
    (a) Write any four barriers to effective communication?   (2 Marks)

    (b) Choose the word which best expresses the meaning of the given word:
    (i) Despot (1) Tyrant (2) Storage (3) Hot meal (4) Against      (1 Mark)
    (ii) Illicit (1) Storage (2) Emotional (3) Unlawful (4) Grand    (1 Mark)
    (iii) Change the following sentence into indirect speech:
    The Shopkeeper says, "prices are shooting up alarmingly.       (1 Mark)

    (c) Write circular addressing to the employees regarding office timings.    (5 Marks) VIEW SOLUTION
  • Question 10
    (a) (i) What are the characteristics of effective communication?  (2 Marks)
    OR
    (ii) What is diagonal communication?                                      (2 Marks)

    (b) (i) Complete the expression by supplying a suitable preposition or adverb particle.
     Choose your answer from the options given in brackets.
    We will take __________ this issue when we meet next week. (up / on / over) (1 Mark)
    (ii) Rewrite the following sentence in Passive Voice
     The customer should receive the delivery by Friday.                      (1 Mark)
    (iii) Rewrite the following sentence in Active Voice.
     He will be given a ticket for over speeding by the police officer.   (1 Mark)

    (c) Write an article of about 250 words on the topic "Global warming".   (5 Marks) VIEW SOLUTION
  • Question 11
    (a) What are the main steps in the process of communication?    (2 Marks)

    (b) Select the correct meaning of idioms / phrases given below:
    (i) Storm in tea cup
    (1) Crave for something
    (2) Drink tea often
    (3) Get into quarrel
    (4) Making a big issue out of a small thing.   (1 Mark)
    (ii) To grease the palm
    (1) Treat suffer
    (2) To offer bribe
    (3) To swim in deep sea
    (4) To be in deep thought.                          (1 Mark)
    (iii) Rewrite the following sentences in the active voice:
      The entire district was destroyed by cyclone. (1 Mark)
     
    (c) Write a memo letter informing the employees of all branches about the suspension order of Mr. Z, cashier, on charge of misappropriation of fund of the same office.    (5 Marks) VIEW SOLUTION
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