IGNOU| BUSINESS LAW (BCOC - 133)| QUESTION PAPER – (DEC - 2023)| B.COM| ENGLISH MEDIUM
BACHELOR OF COMMERCE (B. COM.)
Term-End Examination
December - 2023
BCOC-133
BUSINESS LAW
Time: 3 Hours
Maximum Marks: 100
Note: Answer any five questions. All questions carry
equal marks.
1. (a) “Law of contract is not the whole law of agreements nor it is the whole law of obligations.” Comment. 10
(b)
Distinguish between the following: 10
(i) Void
agreement and voidable contract
(ii) Void
agreement and illegal agreement
2. Define the term „offer‟. Discuss the legal rules for a
valid offer. 20
3. Define consideration under Indian Contract Act with
suitable example. What are the essential features (legal rules) for valid
consideration? Explain in detail. 5, 15
4. Explain the right of surety against (a) Principal debtor
(b) Creditor and (c) Co-sureties. 10+10
5. (a) Define partnership and describe the essential
characteristics of partnership. 10
(b) Explain the
rights and liabilities of partners on dissolution of partnership firm. 10
6. Define „condition‟ and „warranty‟ in Sale of Goods Act.
Explain implied conditions as to the title (ownership) and sale by description
in detail. 8, 12
7. (a) Distinguish between „lien‟ and „stoppage in
transit‟. 8
(b) Who is
finder of goods? What are his rights and duties? 12
8. What is a Promissory Note? Describe its essential
characteristics. Differentiate between Promissory Note and Bill of Exchange. 4,
8, 8
9. Discuss the rights and duties of an agent. 20
10. Write explanatory notes on any two of the following:
10+10
(a) Doctrine of
supervening impossibility
(b) Pledge by
non-owners
(c) Fraud
(d) Limited
liability partnership.
***
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