Sub- Business Law.

30 Questions.

1. " All Contracts are agreements but all agreements are not Contracts"
Explain.
A contract is a legally binding agreement or relationship that exists between two or
more parties to do or abstain from performing certain acts. A contract can also be defined as a
legally binding exchange of promises between two or more parties that the law will enforce. For
a contract to be formed an offer made must backed acceptance of which there must be
consideration. Both parties involved must intend to create legal relation on a lawful matter
which must be entered into freely and should be possible to perform.
An agreement is a form of cross reference between different parties, which may be written, oral
and lies upon the honor of the parties for its fulfillment rather than being in any way
enforceable.
All contracts are agreement because there must be mutual understanding between two parties
for a contract to be formed. All parties should agree and adhere to the terms and conditions of
an offer.
1. Agreement. As per section 2 (e): " Every promise and every set of promises, forming the
consideration for each other, is an agreement." Thus it is clear from this definition that a
'promise' is an agreement. What is a 'promise'? the answer to this question is contained in
section 2 (b) which defines the term." When the person to whom the proposal is made
signifies his assent thereto the proposal is said to be accepted. A proposal, when accepted,
becomes a promise."
2. 2. Legal obligation. As stated above, an agreement to become a contract must give rise to a
legal obligation i.e., a duty enforceable by law. If an agreement is incapable of creating a
duty enforceable by law. It is not a contract. Thus an agreement is a wider term than a
contract. " All contracts are agreements but all agreements are not contracts,"
2. What are the sources of Business Law of India.
3. Distinguish Contracts on the basis of formation. Give examples.
4. Explain ‘ contracts expressly declared as void’
5. Give explanatory note on (any two)
a. Promise.
b. Free consent.
c. Coersion.
6. Discuss the legal position of 'Minor' in Contracts..
7. What is breach of Contract ? What are the remedies for the
Breach of Contract?
 8. Give an explanatory note on rights and duties of Indemnity
holder.
9. Who is Surety ? What are his rights and liabilities.?
10. Define Bailment. Give a note onrights of of Bailee.
12. Discuss any two;
a. Goods.
b. Delivery of goods.
c. Conditions and warranties.
13. What is nemo dat quad non habet? State the exceptions to
this rule.
14 Who is an Agent? Identify the rights and liabilities of an Agent.
15. How agency is determined?
16. Critically evaluate the extent of liability of the Principal against the acts of
his
      Agent.

17. What is Partnership ? Explain kinds of Partners..

18. Explain the relationship of the partners with the firm.
19. Explain the law on liability of partners after and before dissolution of
Partnership.
20. Define Negotiable Instrument. Explain any on of them in detail.
21. Evaluate the Crossing of Cheques.
22. Explain;
a. Endorsement.
b. Holder in due course.
23. Explain the law on dishonor of cheques.
24. Briefly explain the importance of Information technology Law in Business.
25. Cite the Cyber Crimes under Information
Technology Act 2000 Explain any one of them in detail.
26. Write short note on any three of the following;
a. Bill of Exchange.
b. Bouncing of Cheques.
c. Presentment of Instruments.
d. Grace period.
27. Explain Free Consent with examples.
28. Discuss the consequences of non registration of Partnership.
29. DiscussWagering Contracts with suitable illustrations.
30. What is Damages? What are the kinds of Damages?

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