Download PTU MBA 2020 March 2nd Sem 76154 Legal Environment For Business Question Paper

Roll No. ____________________ Total No. of Pages : 02

Total No. of Questions : 17

MBA (2018 Batch) (Sem.-2)

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LEGAL ENVIRONMENT FOR BUSINESS

Subject Code: MBA-202-18

M.Code : 76154

Time : 3 Hrs. Max. Marks : 60

INSTRUCTIONS TO CANDIDATES :

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1. SECTION-A contains EIGHT questions carrying TWO marks each and students has to attempt ALL questions.
2. SECTION-B consists of FOUR Subsections: Units-I, II, III & IV. Each Subsection contains TWO questions each carrying EIGHT marks each and student has to attempt any ONE question from each Subsection.
3. SECTION-C is COMPULSORY carrying TWELVE marks.

SECTION-A

Write short notes on the following :

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1. What is a Contract?
2. Who is a Chairman of Board?
3. What is a Promissory Note?
4. What is Bailment?
5. Who is an Agent?

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6. What is transfer of title?
7. What is dishonor of a cheque?
8. What is a Void Contract?

SECTION-B

UNIT-I

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9. Discuss the structure of Indian legal system.
10. Discuss the major provisions related to discharge of a contract.

UNIT-II

11. Discuss the rights of unpaid seller in detail.
12. Write a detailed note on transfer of ownership and property.

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UNIT-III

13. What is Partnership Act? Discuss its objectives.
14. How the negotiable instruments promote the business? Discuss.

UNIT-IV

15. What is a company? Discuss its incorporation as per Company Act, 2013.

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16. What is corporate veil? In what circumstances it can be lifted? Discuss.

SECTION-C

17. Read the following case and answer the questions :

    This appeal raised an interesting point of law, with respect to the nature of dividend income. While deciding the issue, the Supreme Court had also clearly explained the relationship between a shareholder and a company and the rights of the shareholder vis-a-vis the properties of the company and also the nature of shares. The appellant, Mrs. Gupta was, in the accounting year 1949-50, a shareholder in two tea companies and received from these companies dividends aggregating to Rs. 2,750. The two companies carried on business of growing, manufacturing and sale of tea and that 40% of the income of the tea companies was taxed as income from the manufacture and sale of tea and 60% of such income was exempt from tax as agricultural income. According to the appellant, the dividend income received by her in respect of the shares held by her in the said Tea companies is to the extent of 60% agricultural income in her hands and therefore exempt from tax while the Revenue department contends that dividend income is not agricultural income and therefore the whole of the income is liable to tax.

    Answer the following questions :

    1. What is the central theme of the case study?

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    2. "Is the dividend income in the case is taxable"? Yes or No. Justify.

NOTE : Disclosure of Identity by writing Mobile No. or Making of passing request on any page of Answer Sheet will lead to UMC against the Student.

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