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CHRIST UNIVERSITY, BANGALORE-560029

End Semester Examination April - 2013
BBA Finance & Accountancy
Code : BBF234

Max. Marks : 100

Duration : 3Hrs

Sub : BUSINESS AND INDUSTRIAL LAW

SECTION A
Answer all questions. Each right answer will fetch 1 mark. Wrong answer will carry 0.25%
negative
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Two or more persons are said to consent when they__________________

15 X 1 = 15

a) Agree upon the same thing in same sense. b) Agree upon different thing in same sense.

c) Agree upon same thing in different sense. d) Agree upon different thing in different sense.
On the valid performance of the contractual obligations by the parties, the contract
a) becomes void b) becomes enforceable c) is discharged d) None of the above
What is the nature of agreement which involves payment of a sum of money upon the determination of an
uncertain event? _____________________
a) Wagering Agreement b) Quasi Contract c) Minors Agreement d) Bailment
Contract of Sale is .

a)Executed Contract b)Executory Contract c)Both of the above

A wrong representation when made without any intention to deceive the other party amounts to
______________________

a) Coercion b) Undue influence c) Misrepresentation d) Fraud

An agreement which is enforceable by law at the option of one or more of the parties thereon but not at
the option of the other or others is a __________________

a)Valid Contract b)Void Contract c)Voidable Contract d) Illegal Contract

A person is said to be of sound mind for the purpose of making a contract if, at the time when he makes it
he is capable of understanding it and of _______________________

a) Forming a irrational judgement b) Forming a rational judgement c) Not forming any judgement.
When the person to whom the proposal is made signifies his assent, it is an _________________ of the
proposal.

a)Revocation b)Consideration c)Acceptance

The Maximum Number of Partners in a Limited Liability Partnership under the Limited Liability
Partnership Act, 2008 is ____________________

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a)10 in case of Banking. b)20 in other cases. c)50. d)Unlimited.

Current Account Transaction means a transaction other than

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a) Capital Account Transaction

b) Revenue Account Transaction
c) Deferred Revenue Account
Transaction
Foreign Currency means any other than Indian Currency.

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a)Currency. b)Foreign Notes. c)Cheques. d)All of the above.

No person employed in the Public Utility Service shall go on strike in breach of contract within
.. days of giving such Notice.

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a)21 days b)15 days c)14 days d)30 days

Arbitrator under the Industrial Disputes Act, includes an____________________

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a. Umpire b. Employer c. Employee d. None of the above

________________ when accepted becomes a proposal.
a)Consideration b)Promise c) Acceptance d)Contract

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The treat to commit suicide amounts to: __________________

a) Coercion. b) Undue Influence. c) Misrepresentation. d) Fraud.
SECTION B

Answer any FOUR out of FIVE questions. Each question carries 5 Marks.
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17
18
19
20

4 X 5 = 20

Explain the Capital Account Transaction under the Foreign Exchange Management Act, 1999.
What is a contract of sale? State its essential characteristics?
Explain the essentials of partnership under the Partnership Act 1932.
Discuss who is a Consumer under the Competition Act 2002.
Explain the differences between lay-off and lock-out.
SECTION C

Answer any THREE out of FIVE questions. Each question carries 15 Marks
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24
25

3 X 15 = 45

Discuss fully the essentials of a valid contract.

State the various ways in which a contract may be said to be discharged.
What is Dissolution of Partnership Firm? Explain the various ways leading to Dissolution of Firm and
Consequences of Dissolution of the Partnership Firm.
Explain the various prohibitions enshrined in the Competition Act, 2002, to protect the abuse of Dominant
Position.
Explain the Provisions on Strikes and Lock Out under the Industrial Disputes Act, 1947.
SECTION D

Compulsory Question.
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1 X 20 = 20

A chemist advertised that he would pay a reward of Rs. 1000/- to anyone who contracted influenza after
using a prescription supplied by him, if used according to the directions supplied with it. X and Y both
purchased the prescriptions and used it and contracted Influenza. X has seen the advertisement but Y had
not. Can they or either of them recover Rs. 1,000/- from the Chemist.

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