Download GTU (Gujarat Technological University) MBA (Master of Business Administration) 2016 Winter 3rd Sem 2830002 Legal Aspects Of Business Lab Previous Question Paper
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER (3) ? EXAMINATION ? WINTER 2016
Subject Code: 2830002 Date: 31/12/2016
Subject Name: Legal Aspects of Business (LAB)
Time: 02:30 pm to 05:30 pm Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
6
Q.1 (a) A contract is a
1.
A. Legally binding
agreement
B. Mutual understanding between two
parties
C. Verbal
understanding
between any party
D. Written agreement between two or more
parties
2.
An essential part of a contract is that
A. There should be a
valid offer and valid
acceptance
B. There should be a physical product to
transact
C. Both parties should
live in Sri Lanka
D The agreement entered should be
certified by an Attorney at Law
3.
One of the statements is wrong as to the duties of the buyer.
A. To accept the
delivery of goods
when the seller is
willing to make the
delivery as per the
contract
B. To pay the price in exchange for
possession of the goods
C. To apply for the
delivery of goods
D. Demand delivery of the goods at any
time
4.
Consumers Protection Act provides
A. Protection to
Consumers, Traders
and Manufacturers
B. Protection to Consumers and Traders
C. Protection to
Consumers only
D. Protection to consumers who buy Fast
Moving Consumer Goods ( FMCGs)
5.
One of the implied conditions as to Title in Sale of Goods ordinance is
A. The seller has the
right to sell the
goods if it is a sale
B. The goods should be in merchantable
condition
C. The goods should
match the sample
D. The goods should match the sample as
well as the description
6.
One of the statements is incorrect as to ?Fit for purpose? implied condition
is considered. Underline that statement
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Page 1 of 3
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER (3) ? EXAMINATION ? WINTER 2016
Subject Code: 2830002 Date: 31/12/2016
Subject Name: Legal Aspects of Business (LAB)
Time: 02:30 pm to 05:30 pm Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
6
Q.1 (a) A contract is a
1.
A. Legally binding
agreement
B. Mutual understanding between two
parties
C. Verbal
understanding
between any party
D. Written agreement between two or more
parties
2.
An essential part of a contract is that
A. There should be a
valid offer and valid
acceptance
B. There should be a physical product to
transact
C. Both parties should
live in Sri Lanka
D The agreement entered should be
certified by an Attorney at Law
3.
One of the statements is wrong as to the duties of the buyer.
A. To accept the
delivery of goods
when the seller is
willing to make the
delivery as per the
contract
B. To pay the price in exchange for
possession of the goods
C. To apply for the
delivery of goods
D. Demand delivery of the goods at any
time
4.
Consumers Protection Act provides
A. Protection to
Consumers, Traders
and Manufacturers
B. Protection to Consumers and Traders
C. Protection to
Consumers only
D. Protection to consumers who buy Fast
Moving Consumer Goods ( FMCGs)
5.
One of the implied conditions as to Title in Sale of Goods ordinance is
A. The seller has the
right to sell the
goods if it is a sale
B. The goods should be in merchantable
condition
C. The goods should
match the sample
D. The goods should match the sample as
well as the description
6.
One of the statements is incorrect as to ?Fit for purpose? implied condition
is considered. Underline that statement
Page 2 of 3
A. The buyer makes
known to the seller
the particular
purpose the goods
are required
B. The buyer has to show a sample of the
product he wants to buy
C. The buyer relies on
the seller?s skill or
judgment
D. The supplier ordinarily supplies such
products in his normal course of business
Q.1 (b) i) What is Consideration?
ii) Give the meaning of Mistake.
iii) What is Service under CPA?
iv) Who is a ?Pardha Nishin? woman?
04
Q.1 (c) What is the doctrine of ultra vires? 04
Q.2 (a) How is a sale contract made? Briefly state the formalities of such a
contract with examples.
07
(b) What is Indemnity and Guarantee? What are their characteristics? 07
OR
(b) What is Suretyship? Explain the rights and liabilities of a surety. 07
Q.3 (a) Discuss the clauses of the MOA and AOA of a company. 07
(b) A general meeting took place in December 1994. Then the meeting
was held in March 1995. Subsequently, the meeting was held in
February 1997. Can the company be liable for any irregularity?
Explain.
07
OR
Q.3 (a) Explain the concept of intellectual property rights? What are Trade
Related Intellectual Property Rights?
07
(b) Explain the legal position of a Director. What are the powers of the
Board of Directors?
07
Q.4 (a) What are the objects of the Consumer Protection Act? Explain the
rights of a consumer under the Act
07
(b) What do you understand by the term ?crossing a Cheque?? State the
different types of crossings.
07
OR
Q.4 (a) ?I promise to pay Payal or bearer a sum of Rs.5000 less charges
involved in documentation of accounts? ? Signed Mahesh. Is the
instrument valid? Explain.
07
(b) Explain ?digital signature? and ?digital signature certificate?? Who can
issue digital signature certificates?
07
Q.5 Read the Case and answer the questions given at the end.
Vikram is setting up an industry. Towards this end, he has to
hire the services of an industrial engineering consultant. Rajesh is one
such consultant. The two come together.
Explore the following four different agreements between them.
Agreement 1: Rajesh agrees to prepare a project report for a
fee of Rs.1 lakh. Vikram gets a perfectly fine report from Rajesh but
pays him only Rs.70,000.
Agreement 2: Rajesh is Vikram's tenant. Rajesh agrees to
14
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Page 1 of 3
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER (3) ? EXAMINATION ? WINTER 2016
Subject Code: 2830002 Date: 31/12/2016
Subject Name: Legal Aspects of Business (LAB)
Time: 02:30 pm to 05:30 pm Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
6
Q.1 (a) A contract is a
1.
A. Legally binding
agreement
B. Mutual understanding between two
parties
C. Verbal
understanding
between any party
D. Written agreement between two or more
parties
2.
An essential part of a contract is that
A. There should be a
valid offer and valid
acceptance
B. There should be a physical product to
transact
C. Both parties should
live in Sri Lanka
D The agreement entered should be
certified by an Attorney at Law
3.
One of the statements is wrong as to the duties of the buyer.
A. To accept the
delivery of goods
when the seller is
willing to make the
delivery as per the
contract
B. To pay the price in exchange for
possession of the goods
C. To apply for the
delivery of goods
D. Demand delivery of the goods at any
time
4.
Consumers Protection Act provides
A. Protection to
Consumers, Traders
and Manufacturers
B. Protection to Consumers and Traders
C. Protection to
Consumers only
D. Protection to consumers who buy Fast
Moving Consumer Goods ( FMCGs)
5.
One of the implied conditions as to Title in Sale of Goods ordinance is
A. The seller has the
right to sell the
goods if it is a sale
B. The goods should be in merchantable
condition
C. The goods should
match the sample
D. The goods should match the sample as
well as the description
6.
One of the statements is incorrect as to ?Fit for purpose? implied condition
is considered. Underline that statement
Page 2 of 3
A. The buyer makes
known to the seller
the particular
purpose the goods
are required
B. The buyer has to show a sample of the
product he wants to buy
C. The buyer relies on
the seller?s skill or
judgment
D. The supplier ordinarily supplies such
products in his normal course of business
Q.1 (b) i) What is Consideration?
ii) Give the meaning of Mistake.
iii) What is Service under CPA?
iv) Who is a ?Pardha Nishin? woman?
04
Q.1 (c) What is the doctrine of ultra vires? 04
Q.2 (a) How is a sale contract made? Briefly state the formalities of such a
contract with examples.
07
(b) What is Indemnity and Guarantee? What are their characteristics? 07
OR
(b) What is Suretyship? Explain the rights and liabilities of a surety. 07
Q.3 (a) Discuss the clauses of the MOA and AOA of a company. 07
(b) A general meeting took place in December 1994. Then the meeting
was held in March 1995. Subsequently, the meeting was held in
February 1997. Can the company be liable for any irregularity?
Explain.
07
OR
Q.3 (a) Explain the concept of intellectual property rights? What are Trade
Related Intellectual Property Rights?
07
(b) Explain the legal position of a Director. What are the powers of the
Board of Directors?
07
Q.4 (a) What are the objects of the Consumer Protection Act? Explain the
rights of a consumer under the Act
07
(b) What do you understand by the term ?crossing a Cheque?? State the
different types of crossings.
07
OR
Q.4 (a) ?I promise to pay Payal or bearer a sum of Rs.5000 less charges
involved in documentation of accounts? ? Signed Mahesh. Is the
instrument valid? Explain.
07
(b) Explain ?digital signature? and ?digital signature certificate?? Who can
issue digital signature certificates?
07
Q.5 Read the Case and answer the questions given at the end.
Vikram is setting up an industry. Towards this end, he has to
hire the services of an industrial engineering consultant. Rajesh is one
such consultant. The two come together.
Explore the following four different agreements between them.
Agreement 1: Rajesh agrees to prepare a project report for a
fee of Rs.1 lakh. Vikram gets a perfectly fine report from Rajesh but
pays him only Rs.70,000.
Agreement 2: Rajesh is Vikram's tenant. Rajesh agrees to
14
Page 3 of 3
prepare a project report for Vikram and in return, Vikram promises
not to file a suit for evicting Rajesh from the house. Vikram gets a
perfectly fine report from Rajesh, but despite this, he files a suit to
evict Rajesh from his property.
Agreement 3: Vikram agrees to accept a project report from
Rajesh and implement it, but he demands Rs.50,000 from Rajesh for
trying out an untested idea. Vikram collects Rs.50,000 from Rajesh,
but does not use the report.
Agreement 4: Vikram tells Rajesh, "One should not do
business with friends. I know you are in great financial difficulty. You
are a friend. I will give you Rs.1 lakh any way." Within a week of
this, the stock market crashes and Vikram loses a lot of money. He
feels vulnerable. He refuses to give Rs.1 lakh to Rajesh. Rajesh is
demanding the money.
Discuss the following questions:
1. Identify the consideration for each of the parties in the above
agreements.
2. Which among the above agreements are contracts?
OR
Q.5 Read the Case and answer the questions given at the end.
After a tiring search in the city market place, Mahesh finally saw an
electric iron in the showcase of a shop. A label below the iron
mentioned the price as Rs.600. He had been looking for that model of
electric iron for a long time.
He approached the shop to buy one such iron. However, he was told
that the shop did not have that model in stock. The shopkeeper also
said that he could not promise him one later either, as the
manufacturing company of that iron was facing financial difficulties
and it was being closed down. The person insisted that he had a right
to buy the one kept in the showcase.
You decide a solution.
Who offers and accepts when:
1. We go into a shop;
2. A shop advertises its goods with a price list;
3. Some bargaining as to the price of the goods being sold takes place.
14
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This post was last modified on 19 February 2020