Business Laws and Business Correspondence and Reporting - November 2019

1. (a) X found a wallet in a restaurant. He enquired of all the customers present there but the true owner could not be found. He handed over the same to the manager of the restaurant to keep till the true owner is found. After a week he went back to the restaurant to enquire about the wallet. The manager refused to return it back to X, saying that it did not belong to him. In the light of the…

(a) Define consideration. What are the legal rules regarding consideration under the Indian Contract Act, 1872? (7 Marks) (b) Discuss the conditions under which LLP will be liable and not liable for the acts of the partner. : (5 Marks)

(a) (i) When the continuing guarantee can be revoked under the Indian Partnership Act, 1932? (2 Marks) Gi) What do you mean by Goodwill as per the provisions of Indian Partnership Act, 1932? (2 Marks) (b) With reference to the provisions of Indian partnership Act, 1932 explain the various effects of insolvency of a partner. (4 Marks) (c) Mr. Sonumal a wealthy individual provided a loan of Rs. 80,000 to Mr. Datumal on 26.02.2019. The borrower Mr. Datumal asked. for…

4. (a) What are the rights of an unpaid seller against goods under the Sale of Goods Act, 1930? 4 (6 Marks) (b) Master X was introduced to the benefits of partnership of M/s ABC & Co. with the | consent of all partners. After attaining majority, more than six months elapsed and | he failed to give a public notice as to whether he élected to become or not to become a | partner in the firm. Later on…

(a) Mrs. Geeta went to the local rice and wheat wholesale shop and asked for 100 kgs of | Basmati rice. The Shopkeeper quoted the price of the same as Rs. 125 per kg to which she agreed. Mrs. Geeta insisted that .she would like to see the sample of what will be provided to her by the shopkeeper before she agreed upon such purchase. The shopkeeper showed her a bowl of rice as sample. The sample exactly corresponded to…

8. (a) Discuss the process of communication. (2 Marks) (b) (i) Choose the word which best expresses the meaning of the given word ; (1 Mark) Abundant (1) Plentiful (2) Sufficient (3). Enough (4) Many (ii) Select a suitable antonym for the word given under: (1 Mark) Adumbrate (1) Elaborate (2) Summarize (3) Angry (4) Happy (iii) Change the following sentence to indirect speech: Reena said, “Nobody can solve the problem on the earth”. (1-Mark) LTC P.T.O. (8) (c) Write…