SUB: CORPORATE LAW
MARKS: 80
N.B.: 1 Attempt any Twelve Questions
2) Last
two Questions are compulsory
Q.1. In the following
statements only one is correct statement. Explain Briefly? (5 Marks)
i)
An
invitation to negotiate is a good offer.
ii)
A quasi-contract
is not a contract at all.
iii)
An
agreement to agree is a valid contract.
Q.2. A ship-owner agreed to
carry to cargo of sugar belonging to A from Constanza to Busrah. He knew that
there was a sugar market in Busrah and that A was a sugar merchant, but did not
know that he intended to sell the cargo, immediately on its arrival. Owning to
Shipment’s default, the voyage was delayed and sugar fetched a lower price than
it would have done had it arrived on time. A claimed compensation for the full
loss suffered by him because of the delay. Give your decision. Explain
Briefly? (5 Marks)
Q.3. The proprietors of a medical preparation called
the “Carbolic Smoke Ball” published in several newspapers the following
advertisement:-
“£ 1000 reward will be paid by the Carbolic Smoke Ball Co. to any
person who contracts the increasing epidemic influenza after having used the
Smoke Ball three times daily for two weeks according to printed directions
supplied with each ball. £ 1000 is deposited with the Alliance Bank showing our
sincerity in the matter.
On the faith in this advertisement, the plaintiff bought a Smoke
Ball and used it as directed. She was attacked by influenza. She sued the
company for the reward. Will she succeed? Explain Briefly
(5 Marks)
Q.4. Fazal consigned four cases of Chinese crackers at Kanpur to be
carried to Allahabad on the 30th May, 1987. He intended to sell them at the
Shabarat festival of 5th June 1987. The railway discovered that
the consignment could not be sent by passenger
train and asked Fazal either to remove them or authorize their dispatch by
goods train. He took no action and the goods arrived at Allahabad a month after
they were booked.
Fazal
filed a suit against Railways for damages due to late delivery of the goods
which deprived him of the special profits at the festival sale. Decide &
explain briefly ?
(5 Marks)
Q.5. ‘Lifeoy’ Soap company advertised that it would
give a reward of Rs. 2000 who contracted skin disease after using the ‘Lifeoy’
soap of the company for a certain period according to the printed directions.
Mrs. Jacob purchased the advertised ‘Lifeboy’ and contracted skin disease
inspite of using this soap according to the printed instructions. She claimed
reward of Rs. 2000. The claim is resisted by the company on the ground that
offer was not made to her and that in any case she had not communicated her
acceptance of the offer. Decide whether Mrs. Jacob can claim the reward or
not.
Give reasons. Explain briefly? (5
Marks)
Q.6. In each set of statements, only one is correct. State the correct
statements & Explain briefly?
a)
i)A bailee
has a general lien on the goods bailed.
ii)
The
ownership of goods pawned passes to the pawnee.
iii)
A gratuitous bailment can be terminated by the bailor even before
the stated time.
b)
i) A substituted agent is as good an agent of the agent as a
sub-agent.
ii)
An
ostensible agency is as effective as an express agency.
iii)
A principal can always revoke an agent’s authority. (5 Marks) Q.7.
A, an unpaid seller, sends goods to B by railway. B becomes insolvent
And A sends a telegram to Railway authorities not to deliver the
goods to B. B. goes to the Parcel office of Railway Yard and by presenting R.
R. (Railway Receipt) takes delivery of the goods and
starts putting them in the
cart. Meanwhile the Station Master comes running with the telegram in hand and
takes possession of the goods from B. Discuss the rights of A and B to the
goods in
possession
of Railway authorities. (5
Marks)
Q.8. X needs Rs. 10,000 but cannot
raise this amount because his credit is not good enough. Y whose credit is good
accommodates. X by giving him a pronote made out in favour of X, though Y owes
no money to X. X endorses the pronote to Z for value received. Z who is holder
in due course the pronote to Z for value received. Z who is holder in due
course demands payment from Y. Can
Q.9. Will C has the right of further negotiation in
the following cases: (B signs the endorsements)
Explain
briefly? (5
Marks)
i)
‘Pay C
for my use’
ii)
‘Pay C’)
iv)
‘Pay C
or order for the account of B’
Q.10. A promissory note was made
without mentioning any time for payment. The holder added the words’ on demand
on the face of the instrument. State whether it amounted to material alteration
and explain the effect of such alteration. Explain briefly? (5 Marks)
Q.11. State whether the
following instruments are valid promissory notes:
i)
I promise to pay Rs. 5000 to B on the dearth of ‘B’s uncle provided
that D in his will gives me a legacy sufficient for the promise of payment of
the said sum.
ii)
I hereby acknowledge that I owe X Rs. 5,000 on account of rent due
and I agree that the said sum will be paid be me in regular installments.
iii)
I
acknowledge myself indebted to B in Rs. 5000 to be paid on demand for value
received.
(5 Marks)
Q.12. A Payee holder of a bill of exchange. He
endorses it in blank and delivers it to B. B endorses in full to C or order. C
without endorsement transfers the bill to D. State giving reasons whether D as
bearer of the bill of exchange is entitled to recover the payment from A or B
or C. Explain briefly?
(5 Marks)
Q.13.
Write a short note on the Doctrine of Indoor Management? Explain briefly? (5
Marks)
Q.14. The shareholders at an annual general meeting
passed a resolution for the payment of dividend at a rate higher than that
recommended by the Board of Directors. Examine the validity of the resolution.
Explain briefly? (5 Marks)
Q.15. In
a prospectus issued by a company the Managing Director stated that the company
had paid dividend every year during 1921 – 27, which was a fact. However, the
company had sustained losses during the relevant period and had paid dividends
out of secret reserves accumulated in the past. Examine the consequences of the
observation made by the Managing Director. Explain briefly?
(5 Marks)
Q.16. In a prospectus issued by a
company the Managing Director stated that the company had paid dividend every
year during 1921-27, which was a fact. However, the company had sustained
losses during the relevant period and had dividends out of secret reserves
accumulated in the past. Examine the consequences of the observation made by
the Managing Director. Explain briefly?
(5 Marks)
Q.17. A buys from B 400 shares in a company on
the faith of a share certificate issued by the company. A tender to the company
a transfer deed duly executed together with B’s share certificate. The company
discovers that the certificate in the name of B has been fraudulently obtained
and refuses to
register
the transfer. Advise A. Explain briefly? (5
Marks)
Q.18. A insured his house against
fire. Later while insure, A killed his wife, severely injured his only son, set
fire to the house and died in the fire. The son survived and sued the insurer
for the fire loss,
advice
the insurer. Explain briefly? (5
Marks)
Q.19. a) Satrang Singh admitted his only infant
son in a private nursing home. As a result of strong dose of medicine
administered by the nursing attendant, the child has become mentally retarded.
Satrang Singh wants to make a complaint to the District Forum under the
Consumer Protection Act, 1986 seeking relief by way of compensation on the
ground that there was deficiency in service by the nursing home. Does his
complaint give rise to a consumer dispute? Who is the consumer in the instant
case? Explain briefly?
b)
Smart booked a motor vehicle through one of the
dealers. He was informed subsequently that the procedure for purchasing the
motor vehicle had changed and was called upon to make further payment to
continue the booking before delivery. On being aggrieved, Smart filed a
complaint with the State Commission under the Consumer Protection Act, 1986.
Will he succeed? Explain briefly?
c)
Brittle and Company, a small-scale industry,
sought nursing and financing facilities from its bankers by means of grant of
further advances and adequate margin money in anticipation of good demand for
its products. In failing to obtain this and having become sick, it proceeds
against its bankers
Q.20. X who was working as a truck driver had taken a
general insurance policy to cover the risk of injuries for a period from
1.11.1998 to 30.11.1999. He renewed the policy for a further period of one year
on 10.11.1999. On the same day, he met with an accident and suffered multiple
injuries including fractures. X submitted the claim along with documents to the
insurance company. The insurance company repudiated the claim on the ground
that the premium for the renewed policy was received in the office only at 2.30
p.m. on 10.11.1999, while the accident had taken place at 10.00 a.m. on that
day and hence there was no policy at the time of accident. Will X succeed if he
files a complaint against the insurance company for this claim? Explain
briefly?
(5 Marks)
Q.21. Avinash booked his goods with Superfast Freight
Carriers at Delhi for being carried to Ferozabad. The goods receipt note
mentioned that all the disputes would be subject to jurisdiction of the Mumbai
Court. Avinash lodged a complaint for certain deficiency in service against the
transporter in the District Forum at Delhi. Superfast Carriers contested that
District Forum at Delhi had no jurisdiction to entertain the complaint as the
head office of the transporter was at Mumbai and the jurisdiction has been
clearly stated in the goods receipt not. Is the contention of the transporter
tenable?
Explain briefly? (5
Marks)
Q.22. With reference to the
provisions of the Consumer Protection Act, 1986, decide the following giving
reasons in support of your answer.
i)
Sukh Dukh Ltd. dispatched certain consignments of goods by road
through Fastrack Roadways Ltd. The goods were unloaded and stored in a godown
enroute on the suggestion of consignee. A fire broke out in the neighbouring
godown spread to the godown and goods were destroyed. The Fastrack Roadways
Ltd. claimed that there was neither negligence nor deficiency in service on
their part and goods were being carried at “Owner risk” and since no special
premium was paid, they were not responsible for the loss caused by fire.
Whether Fastrack Roadways Ltd. is liable to pay damages to consignor?
ii)
Life Insurance Corporation (LIC) formulated a scheme called ‘salary
saving scheme’ under which employees of an organisation could buy an insurance
policy. Premium due on each policy was collected by the employer from the
salary of the employees nor did it issue any premium notice. When the widow of
the deceased employee made a claim to LIC on the death of her husband, the LIC
repudiated the claim on the ground that four installments of premium had not
been paid. The
Explain?
iii)
Raman booked a ticket from Delhi to New York by
Lufthansa Airlines. The airport authorities in New Delhi did not find any fault
in his visa and other documents. However, at Frankfurt airport authorities
instituted proceedings of verification because of which Raman missed his flight
to New York. After necessary verification, Raman was able to reach New York by
the next flight. The airline authorities’ tendered apology to Raman for the
inconvenience caused to him and also paid as
goodwill gesture a sum of Rs.
5,000. Raman intends to institute proceedings under the Consumer Protection
Act, 1986 against Lufthansa Airlines for deficiency in service. Will he
succeed?
(10 Marks )
Q.23. With reference to the provisions of the
Consumer Protection Act, 1986, decide the following giving reasons in support
of your answer.
i)
Sohn sent all relevant documents in an envelope
regarding consignment of goods to a buyer in the USA through Fast Service
Couriers. The documents did not reach the buyer as a consequence of which the
buyer could not take delivery of the goods. By the time the duplicate copies of
the document had been received by the buyer, the season of the goods was over.
He claimed that he had suffered a loss of US $ 5,000 as a result of the negligence
of the courier. The State Commission ordered the payment to be made by the Fast
Service Couriers, but the National Commission in appeal reversed the order and
ordered payment of US $ 100 only as per the receipt issued by the Fast Service
Courier to the consignor at the time of the dispatch of the latter. Advise
Sohan.
ii)
Mahesh purchased a machine from Astute Ltd. to operate it himself
for earning his liverhood. He took the assistance of a person to assist him in
operating the machine. The machine developed fault during the warranty period.
He filed a claim in the consumer forum against the company for deficiency in
service. Astute Ltd. alleged that Mahesh did not operate the machine himself
but had appointed a person exclusively to operate the machine. Will Mahesh
succeed?
iii)
Pillai purchased a car by taking a loan from Kerala cooperative
Bank Ltd. and gave post-dated cheques to the bank not only in respect of
repayment of loan instalments but also of premium of insurance policy for two
succeeding years. On the expiry of the policy. Pillai’s car met with an
accident. Will Pillai succeed in getting a
claim against the
Bank ? (10
Marks)
Corporate Law
Q1. Discuss tangible and intangible propebly
Q2. Is it safe to go in for oral contracts?
Q3. Differentiate between offer and invitation to offer
Q4. Define consumer
Q5. How to determine the value of assets
Q6. State procedure of investigation of combination
Q7. What is the standard form contract ?
Q8. What are the kinds of bailments?
Corporate Law
Answer
the following question.
Q1. Explain concept of possession
(10 marks)
Q2. Give meaning and effect of
unilateral mistake (10 marks)
Q3. Discuss Foreign Investment in
small scale sector (10 marks)
Q4. What are the essentials of
contract (10 marks)
Q5. What do you mean by consent
and free consent (10 marks)
Q6. Classify Mercantile or
commercial agents (10 marks)
Q7. Distinguish partnership and
coownership (10 marks)
Q8. What are the
exceptions to “The Majority Rule”
SUBJECT:-CORPORATE
LAW
Q1)
Write short notes (any two) (10
Marks)
c)
Void Contracts and Void able Contracts
d)
Standard Terms and Freedom of Contract
e)
Banking Law
f)
Negotiable Instruments
Q2) Explain the procedure of Incorporation of
Companies, issuance of
Prospectus
and Rising of Capital? (10
Marks)
Q3) Explain the law of Contract and discuss the
term Offer, Acceptance and
|
Agreement?
|
(10 Marks)
|
|
Q4)
Discuss
the Fundamental Rights of the Business?
|
(10 Marks)
|
Q5) Discuss the aims and objectives Indian Sale of
Goods Act, 1930?
(10 Marks)
Q6) What is the Intellectual Property Rights Law.
Discuss its relevance to
liberalization
and Globalization? (10 Marks )
Q7) What is the aims and objectives of the
Standards of Weights and
Measures
Act, 1976? (10
Marks)
Q8) Discuss in brief the Consumer Protection Act
198? (10 Marks)
Subject : COPERATE LAW
Total
Marks: 80
Note : All Questions are Compulsory
Each Question Carries Equal
Marks 10 Marks
v) What are the
functions of controller.
vi)
Distinguish cheque and bill of exchange
vii) Discuss power to impose
lesser penalty
viii)
State the miscellaneous provisions as regards charges.
ix)
How to convert public company in to a private company.
x)
How to employ a controller and other officers.
xi)
What are the liability of members
xii) How to determine the value of assets
SUB: CORPORATE LAW
Total Marks : 80
(10 marks each )
1. What is the Intellectual Property Rights
Law. Discuss its relevance to liberalization and Globalization?
2. Discuss in brief the Consumer Protection
Act 1986 ?
3. Write short notes (any two)
a) Void Contracts and Void able Contracts
b) Standard Terms and Freedom of Contract
c) Banking Law
d) Negotiable Instruments
4) Discuss the aims and objectives Indian Sale
of Goods Act, 1930?
g) Explain the procedure of
Incorporation of Companies, issuance of Prospectus and
Rising of Capital?
Page 1 Out of 1
iii) 
Discuss the Fundamental Rights of the Business?
Discuss the Fundamental Rights of the Business?
iv)
Discuss
the aims and objectives Indian Sale of Goods Act, 1930?
Corporate Law
Q1. Explain why financial
planning is important to today’s chief executives?
Q2. Discuss power to impose
lesser penalty
Q3. State the Rights of partners
Q4. What do you mean by consent
and free consent
Q5. State which persons are
competent to contract
Q6. Explain gifting of Corporate
veil
Q7. How to determine the value of
assets
Q8. Define consumer
Corporate Law
Q1.
What Are Financial Management Objectives? (10 marks)
Q2.
Distinguish between sale and agreement to sell. (10 marks)
Q3.
What is Contract of Indemnity? (10 marks)
Q4.
What do you mean by consent and free consent (10 marks)
Q5. Classify public law and private law (10 marks)
Q6.
What are different segments constituting environment of business (10 marks)
Q7.
Give meaning and effect of unilateral mistake (10 marks)
Q8.
Explain concept of possession
Corporate Law
Q1. What is the meaning of price
(10 marks)
Q2. Who can employ (10 marks)
Q3. What is environment of
business (10 marks)
Q4. What is an unlimited company
(10 marks)
Q5. State procedure of
investigation of combination (10 marks)
Q6. How to determine the value of
assets (10 marks)
Q7. Explain concept of possession
(10 marks)
Q8. Discuss tangible and intangible propebly
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