BCOM/III/CC/10 Student’s Copy

2022
( CBCS )

( 3rd Semester )

COMMERCE

( Business Regulatory Framework )

Full Marks : 75

Time : 3 hours

The figures in the margin indicate full marks for the questions

( SECTION : A—OBJECTIVE )

( Marks : 10 )

Choose the correct answer and place its code in the brackets provided : 1×10=10
1. In _____ contract, the obligations are to be performed at a later time.
(a) executory
(b) executed
(c) express
(d) quasi- [ ]
2. An agreement not enforceable by law is said to be
(a) voidable
(b) void
(c) unenforceable
(d) illegal [ ]

/59 1 [ Contd.
 3. Goods may be classified into three types—existing goods, future goods and
(a) generic goods
(b) unascertained goods
(c) ascertained goods
(d) contingent goods [ ]
4. Risk passes with
(a) property
(b) sale
(c) agreement
(d) contract [ ]
5. In partnership, partners’ liabilities are
(a) unlimited
(b) limited to the capital of the business
(c) limited
(d) Both (a) and (c) [ ]
6. A partner, who neither contributes to the capital nor shares the profits or
takes part in the conduct of the business of the firm, is known as
(a) secret partner
(b) nominal partner
(c) sub-partner
(d) dormant partner [ ]
7. When the bank has reason to believe that the title of the presenter is
defective, then the cheque will be
(a) dishonoured
(b) cancelled
(c) stalled
(d) countermanded [ ]

/59 2 [ Contd.
 8. A _____ is an instrument in writing, containing an unconditional
undertaking signed by the maker to pay a certain sum of money only to or
to the order of, a certain person or to the bearer of the instrument.

(a) promissory note

(b) bill of exchange

(c) cheque

(d) None of the above [ ]

9. The Consumer Protection Act, 1986 seeks to promote and protect the
rights of consumer regarding

(a) the right to make provisions for the investigation and settlement of
industrial disputes

(b) the right to secure industrial peace through voluntary negotiation and
compulsory adjudication

(c) the right to secure economic justice to the workmen

(d) the right to seek redressal against unfair trade practices or

unscrupulous exploitation of consumer
[ ]
10. The main objective of the Right to Information Act, 2005 is

(a) to promote transparency and accountability in the working of every

public authority

(b) the right to seek redressal against unfair trade practices or restrictive
trade practices or unscrupulous exploitation of consumers

(c) the right to be protected against the marketing of goods and services
which are hazardous to life and property

(d) the right to be informed about the quality, quantity, potency, purity,
standard and price of goods or services, as the case may be to protect
the consumer against unfair trade practices
[ ]

/59 3 [ Contd.
 ( SECTION : B—SHORT ANSWER )
( Marks : 15 )

Write notes on the following : 3×5=15

UNIT—I
1. Acceptance
OR
2. Contract of indemnity

UNIT—II
3. Existing goods
OR
4. Sale by auction

UNIT—III
5. Partnership at Will
OR
6. Partnership deed

UNIT—IV
7. Negotiable instrument
OR
8. Discounting of bill of exchange

UNIT—V
9. Definition of consumer
OR
10. Objectives of the RTI Act, 2005

/59 4 [ Contd.
 ( SECTION : C—DESCRIPTIVE )
( Marks : 50 )
Answer the following : 10×5=50

UNIT—I
1. When is consent said to be free? Distinguish between Coercion and Undue
influence. 5+5=10
OR
2. State the circumstances under which a contract is said to be discharged. 10

UNIT—II
3. When does property in goods pass from the seller to the buyer in a contract
of sale of goods? 10
OR
4. What are the implied conditions in a contract of sale of goods? 10

UNIT—III
5. What is partnership? Enumerate the contents of a partnership deed.
2+8=10
OR
6. What are different types of partnership? Who is an active partner? 8+2=10

UNIT—IV
7. What are the essential elements of a bill of exchange? What is a promissory
note? 7+3=10
OR
8. Write notes on the following : 5+5=10
(a) Holder and holder in due course
(b) Dishonour of a cheque

/59 5 [ Contd.
 UNIT—V
9. What is a complaint? What rights of consumers does the Consumer
Protection Act seek to promote and protect? 2+8=10
OR
10. Discuss the objects and salient features of the RTI Act, 2005. 10

HHH

/59 6 G23—550