Institute of Innovation in Technology and Management

Question Bank- Business law

Bcom – Sem II
Q-1 Define the term contract. Explain the essentials of a valid contract.

Q-2 Explain the meaning of the term Bailment. What are the duties of Bailor and Bailee under
the Indian Contract Act, 1872?

Q-3 what is consideration under the law of contract? State the essentials of valid consideration.

Q-4 what is contract? How is it different from agreement?

Q-5 “All agreements are not contracts, but all contracts are agreements.” Explain.

Q-6 what is quasi contracts? Narrate legal provisions of it.

Q-7 Define Agent and Principal. Discuss various modes of creation of agency.

Q-8 Define Agency. Explain different modes of termination of agency.

Q-9 Differentiate between Bailment and Pledge?

Q-10 Write a short note on:

(a) Wagering contracts

(b) Types of Bailment

(c) Damages for breach of contract

(d) Contract of indemnity

(e) Exceptions to the doctrine of consideration

(f) Difference between Coercion and undue influence

(g) Difference between Actual Breach and Anticipatory Breach

Q-10 Differentiate between Indemnity and guarantee.

Q-11 Explain various modes of discharge of a contract.

Q-12 Discuss various remedies available for breach of contract.

Q-13 What do you understand by capacities of parties? Discuss the position of a minor under the
Indian Contract Act, 1872.

Q-14 Discuss the meaning and scope of the term ‘goods’ under the sale of goods Act, 1930. State
whether the following are goods or not? A) Lottery tickets B) Electronic TV signal C) Money.

Q-15 “The right of ‘stoppage in transit’ is an extension of an unpaid seller’s right of lien”.
Comment.

Q-16 Distinguish between a Sale and Agreement to sell. In a contract for the sale of goods, state
when the property in goods sold passes from the seller to the buyer.

Q-17 Differentiate between condition and warranty in Sales of goods Act. Explain all the implied
conditions in the contract of sale of goods.

Q-18 Who is an unpaid seller. Describe the rights of an unpaid seller under the sales of goods
Act.

Q-19 Write note on the following:

a) Warranty
b) Rule of Caveat Emptor

Q-20 What do you mean by Negotiable Instruments? Discuss the difference between bill of
exchange and promissory note.

Q-21 Define cheque. Explain the types and effects of crossing made on cheques.

Q-22 Define Holder and Holder in Due Course. State and explain the priviledge of a holder in
due course

Q-23(a) Distinguish between a promissory note and bill of exchange

(b) What is a crossed cheque. Explain various modes of crossing of cheque.

Q-24 What are the requisites of a valid indorsement? Explain different kinds of indorsements
with suitable examples.