B.I.

PATEL GROUP TUITION

11 TH COMMERCE TO T.Y. B.COM
Rangjyot complex- II, Near Shantaram Hall, Nirnay nagar co-9825944510

Subject: Business laws T.Y. B.Com Marks: 35

Chap: I.C.A. 1 to 5 Time : 1 hour

Q.1 “All the agreements are not contracts but all contracts are not agreements.” (14)
Discuss the statement with essential elements of the contract.
OR
Q.1 what is an offer? When it is complete? State the rules of valid offer and (14)
Its revocations.

Q.2 Explain the term of consideration as discussed in Indian contract Act and (14)
comment on “A contract without consideration is void”.
OR
Q.2 (a) What do you understand by coercion and undue influence? Also distinguish (7)
between them.
(b) Define minor and legal rules as to Minor. (7)

Q.3 (a) Attempt the following problems , giving your views (Any Two) (6)
1. 'A' and 'B' ,being traders enter into a contract. 'A' has private information for change in
the price of a commodity which would affect 'B's willingness to proceed the contract. Is a
bound to inform 'B' ?
2. A woman fraudently represented to a jewellery shop that she was the wife of a famous
person and obtained a ruby necklace on a credit. She sold those necklace to 'B' ,who is
innocent person without any notice of fraud. Can jeweler recover the necklace?
3. 'A' who was in a need of moneyoffered to sell his piano,worth Rs. 5000 to 'B' for Rs.
4000 only. 'B' refused to buy. 'A' gradually decrease the price until Rs. 1000 was reached,
which 'B' accepted. Before the piano was delivered, 'A' received an offer of a larger sum
from the ‘c’,and he refused to sell it to 'B' by stating that the consideration was
inadequate. Is 'A' liable to pay damage to 'B' for failure to carry out his part of the
contract ?

(b)An auctioneer displays a car before a gathering in an auction sale. Is it an offer? (1)

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