Business law

1. "Insufficiency of consideration is immaterial but an agreement without consideration is void". Comment.

2. Chequed crossed"not negotiable" are nevertheless transferable. Explain.

3. S admitted his only infant son in a private nursing home. As a result of strong dose of medicine adminstered by the nursing attendant, the child became mentally retarded. S wants to make a complaint to the district forum 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?

4    The legal personality of a company is distinct and different from its members individually and collectively". Comment and point out the circumstances when the separate of a company is disregarded by the courts.

5. State the procedure District Forum follows on receipt of a complaint from a consumer.

6.    Has a holder of a cheque any remedy against the banker for wrongful dishonour of the cheque? Solve by www.solvezone.in contact for more details at 8882309876.

7.    What is the practical importance of knowing the exact moment when the property in goods passes from the seller to the buyer? State and illustrate the rules which determine such moment or Risk facie passes with property. Elucidate.

8.    What are the provisions of the Companies Act 1956, in respect of extraordinary general meeting to be held on requisition?

Case Study

Q.No 1: M agreed on Monday to sell his property to N by a written agreement which stated that:" this offer to be left over until Saturday 10am".In the meantime, on Wednesday M enters into a contract to sell the property to O. N who was sitting in the next room, hears about the deal betweem M and O. On friday, N accepts the offer and delievers to M, the letter of acceptance. Is N's acceptance valid?

Q.No 2: J, the owner of a Maruti car, wants to sell his car. For this purpose he hands over the car to P, a mercantile agent for sale at aprice not less than Rs 90,000. The agent sells the car for Rs 80,000 to A, who buys the car in good faith and without notice of any limitation on P's authority. P misappropriated the money also. J sues A to recover the car. Decide giving reasons whether J would succeed.

Q.No 3: A consigned goods by railways. The consignment, at the time of delivery, was found damaged. After obtaing a certificate of damages from the Railways Officer, A cliamed from the Railways compensation of Rs 2,300. The general manager of the Railways sent him a cheque for Rs 1,300 in full and final settlement. The cheque was encashed, but after a lapse of sometime. A claimed that the payment had satisfied only a part of his claim and demanded payment of the balance. Discuss the claim of A for payment of the balance amount.

Assignment C
1. Consideration 
 (A): must be adequate to the promise made
 (B): need not be adequate to the promise made
 (C): must be of reasonable value
 (D): must be of more value than the value of promise made.

2. In case of private company the quorum should be
 (A): 2 members
 (B): 3 members
 (C): 4 members
 (D): None of these

3. Flaw in a capacity to contract may arise from –
 (A): want of consideration
 (B): unsoundness of mind
 (C): illegality of object
 (D): uncertainty of object

4. Which of the following meeting can be held more than once in a calendar year? Solve by www.solvezone.in contact for more details at 8882309876.
 (A): E.G.M
 (B): S.G.M
 (C): A.G.M
 (D): None of the above

5. A wagering agreement is
 (A): forbidden by law
 (B): immoral
 (C): opposed to public policy
 (D): none of the above.

6. On the face of the ticket for a journey the words? For conditions see back? Are printed in small print .The passenger –
 (A): is bound by the conditions whether he takes care to read them or not
 (B): is not bound by the conditions
 (C): may not take note of the conditions
 (D): none of the above

7. Anticipatory breach of a contract takes place –
 (A): during the performance of the contract
 (B): at the time when the performance is due
 (C): before the performance is due
 (D): at the time when the contract is entered into

8. In case of a wrongful dishonour of a cheque by a banker having funds to the credit of the customer, the court may award----
 (A): ordinary damages
 (B): nominal damages
 (C): exemplary damages
 (D): contemptuous damages

9. Share holders are _________
 (A): Owners
 (B): Creditors
 (C): Debtors
 (D): None of the above

10. Which of the following have voting rights _______
 (A): Share holders
 (B): Debenture holder
 (C): Both (a) & (b)
 (D): None of the above

11. Debentures which have the charge on the property of the company is ________
 (A): Secured
 (B): Unsecured
 (C): Registered
 (D): None of the above

12. Commencement of winding up of a company does not affect the nature of ______
 (A): A fixed charge
 (B): A floating charge
 (C): Both a) & b)
 (D): None of the above

13. What is the time limit for conducting statutory meeting? Solve by www.solvezone.in contact for more details at 8882309876.
 (A): 1 to 5 months
 (B): 1 to 6 months
 (C): 1 to 9 months
 (D): None of these

14. Responsibility of a consumer includes
 (A): Exercise rights
 (B): Quality conscious
 (C): Insist on cash memo
 (D): All

15. Which of the following right is not provided by the Consumer Protection Act to the consumers?
 (A): Right to safety
 (B): Right to scold
 (C): Right to choose
 (D): Right to seek redressal

16. The central council shall meet as and when necessary but at least ___ meeting of the council shall be held every year
 (A): One
 (B): Two
 (C): Three
 (D): Four

17. Which one of the following know as Consumer disputes redressal agency
 (A): District forum
 (B): State commission
 (C): National commission
 (D): All the above

18. President of district forum is
 (A): Collector of the district
 (B): A person who are qualified as advocate
 (C): A person who are qualified to be a district judge
 (D): None of these

19. Provided that the minimum amount of sum so payable shall not be less than ____ of the value of such defective goods sold or services provided, as the case may be to such consumers.
 (A): Rs 25000/-
 (B): 10%
 (C): 5%
 (D): None of these

20. Maximum members in case of private company
 (A): 50
 (B): 100
 (C): 75
 (D): None of these
 
21. When you receive a check made out to you in your name, you are called the
 (A): maker.
 (B): holder
 (C): assignee
 (D): drawer

22. Managing director will be counted as _____________ while calculating maximum limit in case of private company.
 (A): Member
 (B): Employee
 (C): Shareholder
 (D): None of these

23. When the date is omitted
 (A): the date when the instrument is negotiated is considered the date of issue.
 (B): the instrument must be returned and the date inserted.
 (C): the date when the instrument is received is considered to be the date of issue.
 (D): the instrument is not negotiable

24. In case of Non –Profit making Companies books of accounts are required to be preserved for ________years
 (A): 2
 (B): 4
 (C): 6
 (D): 8

25. A blank indorsement
 (A): requires the words "without recourse" on the back of the check
 (B): requires the words "with recourse" on the back of the check.
 (C): consists of the signature alone on the instrument
 (D): requires the words "pay to the order of" on the back of a check

26. M.M. ltd is incorporated on Jan 1, 2007. It must hold its first AGM before.
 (A): Dec 312007
 (B): Dec 312008
 (C): June 30 2007
 (D): June 30 – 2008

27. A bad cheque is one that
 (A): the bank deems to old to honor.
 (B): the bank is liable for any loss that you might suffer
 (C): is drawn on an account in which there is insufficient funds
 (D): is signed by someone other than the drawer

28. Notice of Adjourn meeting is not required of a meeting is
 (A): Adjourn for want of quorum
 (B): Adjourn sine die
 (C): Adjourn for more than 30 days
 (D): None

29. AGM should be held at
 (A): Company
 (B): Registered office
 (C): Corporate office
 (D): None of these

30. In which one of the following cases an ordinary resolution may be passed _________
 (A): Commencement of a new business
 (B): alteration of articles
 (C): Compulsory winding up of the company
 (D): none of the above

31. Company should file a prospectus in case of conversion of private company into a public company with in __________ from the date of resolution
 (A): 30 days
 (B): 45 days
 (C): 60 days
 (D): none of these

32. ______ is the conclusive evidence in case of company that statutory requirements have complied with
 (A): Certificate of Incorporation
 (B): Certificate of commencement of Business
 (C): Both
 (D): None of the above

33. A company can change its name at its own discretion by passing _________
 (A): Ordinary resolution
 (B): Special resolution
 (C): Boards resolution
 (D): None of the above

34. For calculating number of members in a private company joint holders will be as __________
 (A): 1
 (B): 2
 (C): 3
 (D): 4

35. ______ are the contracts entered into by promoters on behalf of a prospectus company.
 (A): Provisional contracts
 (B): PreIncorporation Contracts
 (C): Preliminary contracts
 (D): Both a) & b)

36. A company can accept or renew deposits for a period less than 6 months if they do not exceed 10% of the aggregate of
 (A): Paid up Capital
 (B): Free reserves
 (C): Paid up capital and Free reserves
 (D): None of the above

37. Which of the given below members are not shareholders
 (A): Death of members
 (B): Insolvent
 (C): Share warrant holders
 (D): All of the above

38. In the event of appointing a proxy joint holders shall sign the proxy form. Solve by www.solvezone.in contact for more details at 8882309876.
 (A): Singularly
 (B): Jointly
 (C): None of the above
 (D): both (a) & (b)

39. A company can become a members of another company if it is so authorized by _________
 (A): MOA
 (B): AOA
 (C): Both (a) & (b)
 (D): None of the above

40. Which of the following is not true _________
 (A): Every member is a contributory
 (B): Every contributory is a member.
 (C): Both (a) & (b)
 (D): None of the above