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    BUSINESS LAW Model Exam

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    suruthi

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    BUSINESS LAW Model Exam

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    1 views3 pages

    BUSINESS LAW Model Exam

    Uploaded by

    suruthi

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    AKSHAYA COLLEGE OF ARTS AND SCIENCE

    Approved by Government of Tamil Nadu & Affiliated to Bharathiar University, Coimbatore


    Kinathukadavu , Coimbatore – 642109

    ------------------------------------------------------------------------------------------------------------------------------------------------

    Department of Management

    MODEL EXAMINATION

    II -B.B.A. –Business Law

    Time: 2.30 Hours Maximum Marks: 75

    Section - A (10 x 1 = 10 Marks)

    Choose the correct answer

    What is the primary purpose of business ethics?


    1.
    A) Maximize profits B) Ensure legal compliance

    C) Build trust and credibility D) Increase market share


    Which of the following is NOT an essential element of a contract?
    2.
    A) Offer B) Acceptance

    C) Consideration D) Advertisement
    Under what condition can an offer lapse?
    3.
    A) If it is revoked before acceptance B) If the offeree is out of town

    C) If the offer is made in writing D) If the offeree has doubts about the offer
    Which of the following is NOT a valid type of consideration?
    4.
    A) Past consideration B) Future consideration

    C) Moral consideration D) Present consideration


    Which of the following agreements is generally considered void?
    5.
    A) Wagering agreements B) Agency agreements

    C) Employment contracts D) Sale contracts


    Caveat emptor translates to:
    6.
    A) Let the seller beware B) Let the buyer beware

    C) Contracts must be written D) A contract can be void


    In a contract of sale, which of the following is a right of an unpaid vendor?
    7.
    A) Right to sue for damages B) Right of resale

    C) Right to enforce payment D) All of the above


    What type of agency involves the agent acting on behalf of the principal but without
    authority?
    8.
    A) Universal agency B) General agency

    C) Agency by estoppels D) Special agency


    A contract that is opposed to public policy is:
    9.
    A) Voidable B) Valid

    C) Void D) Enforceable
    Which of the following is an example of undue influence?
    10.
    A) Pressure to sign a contract B) Misrepresentation of facts

    C) Mutual agreement D) Lack of consideration

    Section - B (5 x 5 = 25 Marks)

    Answer all questions

    11.a) Define business ethics and explain its significance in corporate governance.
    (or)
    11.b) What are the essential elements of a valid contract? Explain each briefly.

    12.a) Discuss the legal rules concerning acceptance in contract law.


    (or)
    12.b) Explain the concept of consideration in contracts. Why is it important?

    13.a) What constitutes a breach of contract? Outline the remedies available for breach.
    (or)
    13.b) Differentiate between 'sale' and 'agreement to sell.

    14.a) Explain the concept of 'Caveat Emptor' and its exceptions.


    (or)
    14.b) Describe the rights of an unpaid vendor under the Sale of Goods Act.

    15.a) What is meant by 'agency'? Discuss the classification of agents.


    (or)
    15.b) Explain the relationship between principal and agent in a contract of
    agency.
    Section - C (5 x 8 = 40 Marks)

    Answer all questions

    16 a) Discuss the principles of ethical corporate behavior and how they


    relate to social responsibility.
    (or)
    16.b) Examine the implications of wagering agreements in contract law.
    Provide examples.
    17.a) Analyze the concept of consent in contract formation, focusing on
    coercion, undue influence, and misrepresentation.
    (or)
    17.b) Discuss the elements that constitute good corporate governance and
    their importance.
    18.a) Explain the effect of destruction of goods on a contract of sale. What
    happens legally?
    (or)
    18.b) Discuss the concept of 'transfer of property' in the context of sale
    contracts.
    19.a) Explain the different types of agency relationships and their
    implications for the principal and agent.
    (or)
    19.b) What is a hire-purchase agreement? Discuss its features and
    implications for the parties involved.
    20.a) Describe the various methods of terminating an agency and the legal
    consequences of such termination.
    (or)
    20.b) Discuss the legal status of 'strangers to a contract' and the exceptions
    that allow them certain rights.

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