Course Content
01 – Introduction to Business Law
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Q 1.1. “Law and business are closely related disciplines.” Discuss.
Q 1.2. What is ‘Law’? What is the need for managers to know about law?
Q 1.3. Define the term Business law. What are the main sources of business law in India?
MCQs
True or False
Fill in the Blanks
02 – Indian Contract Act, 1872: Nature and Kind of Contracts
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Q 2.1. “All agreements are not contracts but all contracts are agreements”. Examine this statement.
Q 2.2. Explain the essentials of a valid contract.
Q 2.3. “An agreement enforceable by law is a contract”. Discuss the statement.
Q 2.4. Discuss the different types of contract.
Q 2.5. Distinguish between void and voidable contract.
Q 2.6. What are the similarities between void and illegal agreements?
Practical Problem: 1
Practical Problem: 2
True or False
Match the Pairs
Fill in the Blanks
03 – Indian Contract Act, 1872: Offer and Acceptance
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Q 3.1. What is a general offer? Illustrate.
Q 3.2. Distinguish between ‘general’ and ‘specific’ offer.
Q 3.3. “A counter-offer can constitute an acceptance of an offer”.
Q 3.4. Discuss the role of ‘offer’ and ‘acceptance’ in the formation of a valid contract.
Q 3.5. Explain rules regarding communication of offer and acceptance.
Q 3.6. A mere mental acceptance is no acceptance. Comment on this statement.
Q 3.7. Explain the role of communication, acceptance and revocation of proposals in the formation of valid contract.
Practical Problem: 1
Practical Problem: 2
04 – Indian Contract Act, 1872: Capacity of Parties and Consideration
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Q 4.1. A minor can be a promisee. Comment on this statement.
Q 4.2. Briefly explain ‘competency to contract’. Who is competent to contract as per the Indian Contract Act?
Q 4.3. Explain the rule ‘no consideration, no contract’. Are there any exceptions to this rule?
Q 4.4. Write a short note on “Minor’s contract for necessities”.
Q 4.5. What are the essential elements of a valid consideration?
Q 4.6. Insolvent person can enter into a contract. Comment.
Practical Problem: 1
Practical Problem: 2
Practical Problem: 3
05 – Indian Contract Act, 1872: Other Essential Elements of a Contract
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Q 5.1. When is consent said to be given under coercion? How coercion differs from undue influence?
Q 5.2. “A contract caused by unilateral mistake may be valid, voidable or void.” Explain.
Q 5.3. ‘Mere silence would amount to fraud under certain circumstances. ’Discuss this statement.
Q 5.4. Define mistake. Differentiate between bilateral and unilateral mistake by giving suitable examples.
Q 5.5. What do you understand by the contingent contract? Discuss the rules regarding enforcement of contingent contracts.
Q 5.6. Explain briefly: (a) Agreement in restraint of marriage
Q 5.6. Explain briefly: (b) Invitation to treat does not amount to an offer
Q 5.6. Explain briefly: (c) Consideration must be sufficient but need not be adequate.
Q 5.7. Explain the concept of ‘misrepresentation’ in the matters of contract.
Q 5.8. “Consideration is required for every kind of contract”. Comment.
Q 5.9. Insufficiency of consideration is immaterial but an agreement without consideration is void. Comment.
Q 5.10. “All agreements against public policy are void”. Comment.
06 – Indian Contract Act, 1872: Performance and Discharge of Contract
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Q 6.1. Write a short note on the performance of the contract.
Q 6.2. What are the requisites of the valid tender of performance?
Q 6.3. Is there any difference between the tender of services and tender of money?
Q 6.4. Who can perform the promise under a contract?
Q 6.5. Who can demand the performance of promise?
Q 6.6. Explain rules with regard to demand of promise by the joint promisors.
Q 6.7. State the provisions relating to the performance of reciprocal promises.
Q 6.8. Discuss the various methods of termination of contract.
Q 6.9. How is the contract discharged on the performance of a promise?
Q 6.10. Explain the meaning of the term ‘remission’. Write the short note on the novation of contract.
Q 6.11. Write a short note on the anticipatory breach of contract.
Practical Problem: 1
Practical Problem: 2
Practical Problem: 3
Practical Problem: 4
Practical Problem: 5
07 – Indian Contract Act, 1872: Remedies for Breach of Contract and Quasi-Contract
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Q 7.1. What are the remedies available to an aggrieved party on the breach of contract?
Q 7.2. What kind of damage may be awarded in case of the breach of contract under the law of contract?
Q 7.3. Explain special damages with suitable example.
Q 7.4. What do you understand by vindictive damage? Explain.
Q 7.5. When can a specific performance not be granted by the court?
Q 7.6. When can the party to contract claim on quantum meruit? Explain.
Q 7.7. Write a note on quasi-contracts.
Practical Problem: 1
Practical Problem: 2
Practical Problem: 3
08 – Indian Contract Act, 1872: Indemnity and Guarantee
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Q 8.1. Explain the contract of indemnity.
Q 8.2. What are the essential elements of the contract of indemnity?
Q 8.3. Discuss the rights of the indemnity holder.
Q 8.4. Define the contract of guarantee.
Q 8.5. There is no consideration in case of the contract of guarantee. Comment.
Q 8.6. The contract of guarantee may be oral or in writing. Comment.
Q 8.7. What are the various kinds of guarantee?
Q 8.8. What is a continuing guarantee? How it can be revokes?
Q 8.9. State the nature and extent of the surety’s liability.
Q 8.10. Liability of the surety is primary and independent. Comment.
Q 8.11. What are the rights of surety against the other co-surety?
Q 8.12. What are the rights of surety against the creditor?
Q 8.13. When does the creditor’s act discharge surety?
Q 8.14. Explain the difference between the contract of indemnity and the contract of guarantee.
Practical Problem : 1
Practical Problem : 2
09 – Indian Contract Act, 1872: Agency
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Q 9.1. Every person has the right to employ an agent lawfully. Comment on this statement.
Q 9.2. Discuss the essentials of a valid contract of agency.
Q 9.3. Differentiate between an agent and an independent contract.
Q 9.4. Write a short note on different kinds of agent.
Q 9.5. Explain the various modes of creation of agency.
Q 9.6. What do you understand by agency by ratification? What are the essentials of a valid ratification?
Q 9.7. Write a short note on rights and duties of an agent.
Q 9.8. Distinguish between a sub- agent and a substituted agent.
Q 9.9. Discuss the various modes by which the authority of an agent may be terminated.
Q 9.10. Write a short note on an irrevocable agency.
Practical Problem : 1
Practical Problem : 2
10 – Sales of Goods Act, 1930
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Q 10.1. Define the goods. Explain it with suitable examples.
Q 10.2. State briefly the essential elements of a contract of sale under the Sales of Goods Act, 1930.
Q 10.3. Distinguish between a sale and an agreement to sell.
Q 10.4. What do you understand by the conditions and warranties of a contract of the sales of goods?
Q 10.5. What are the circumstances when a condition can be treated as a warranty?
Q 10.6. What are the implied warranties in a contract of sale under the sales of goods act, 1930?
Q 10.7. What do you understand by ‘caveat emptor’ under the sale of goods act, 1930? What are the exceptions to this rule?
Q 10.8. In the contract of sale, when does the property in goods passes on to the buyer?
Q 10.9. What are the rules relating to the delivery of the goods in a contract of sale of goods?
Q 10.10. Write a short note on an unpaid seller’s lien.
Q 10.11. What type of remedies are available to the buyer against the seller?
Practical Problem : 1
Practical Problem : 2
Practical Problem : 3
Practical Problem : 4
Practical Problem : 5
11 – The Negotiable Instruments Act, 1881
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Q 11.1. What are the presumptions applicable to all the negotiable instruments, as provided under the negotiable instruments Act, 1881?
Q 11.2. Define the bill of exchange and explain its salient features.
Q 11.3. State the difference between ‘promissory notes’ and ‘bill of exchange’.
Q 11.4. How can negotiable instrument be classified?
Q 11.5. What is demand instrument?
Q 11.6. What are the differences between an ambiguous instrument and inchoate instrument?
Q 11.7. Can a negotiable instrument be drawn without consideration?
Q 11.8. Write a short note on the endorsement and different kind of endorsement.
Q 11.9. What do you understand by negotiation?
Q 11.10. Write a short note on crossing of cheques.
Q 11.11. A paying banker is always protected. Comment.
Q 11.12. When is an alteration of an instrument as material alteration under act?
Q 11.13. Explain the meaning of ‘acceptance for honour under the negotiable instrument Act,1881.
Q 11.14. When the negotiable instrument is discharged?
Practical Problem : 1
Practical Problem : 2
Practical Problem : 3
Practical Problem : 4
12 – Companies Act, 2013: Types of Companies and their Characteristics
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Q 12.1. Define Company and explain its characteristics as regard to perpetual secession.
Q 12.2. What is a ‘Company limited by shares’ and ‘Limited by guarantee’?
Q 12.3. Write a short note on misstatement in prospectus.
Q 12.4. Write a short note on ‘Pre-incorporation contract’.
Q 12.5. Define Holding company.
Q 12.6. Define Public Company. How does it differ from Private Company?
Q 12.7. Define ‘Perpetual Succession’ and ‘Common Seal’.
Practical Problem : 1
Practical Problem : 2
Practical Problem : 3
Practical Problem : 4
Practical Problem : 5
13 – Companies Act, 2013: Memorandum, Articles of Association and Prospectus
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Q 13.1. Write a short note on the form of the memorandum of association.
Q 13.2. What are the requirements of the association clause?
Q 13.3. Any act which is ultra-vires to the directors is void – comment.
Q 13.4. What are the content of the article of association?
Q 13.5. Can a Company alter article of association? If so then how?
Q 13.6. What are the legal requirements as to the Liability Claus? Can liability of a member be increased?
Q 13.7. The power to alter article is wide yet it is subject to large number of limitations – Comment.
Q 13.8. State the procedure to be followed by a company for change in registered office from one place to another within same state.
Q 13.9. What are the legal requirements as to the liability clause? Can liability of a member be increased?
Q 13.10. Any act which isultra- vires to the directors is void – comment.
Q 13.11. State the procedure to be followed by a company to shift its registered office from one state to another state.
Q 13.12. When registrar of company shall refuse to register the prospectus?
14 – Companies Act, 2013: Share Capital And Transfer of Shares
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Q 14.1. Write down five rights available to a group of members.
Q 14.2. Issue of further share capital should be should first be made to existing shareholders. Comment.
Q 14.3. What is return of allotment? When a company is required to file return of allotment?
Q 14.4. What are the conditions required to be complied with by public company before allotment of shares?
Q 14.5. Explain the procedure for reduction of capital.
Q 14.6. On redemption of preference shares, a person ceases to be a member of a company. Comment.
Q 14.7. What are the different kinds of shares which a company can issue under Companies Act, 2013?
Q 14.8. Out of which sources can a company redeem preference shares?
Q 14.9. What is the difference between called-up capital and un-called capital.
Q 14.10. When can a company issue redeemable preference shares?
Q 14.11. Explain the various terms used in reference of capital under Companies Act, 2013. A Company can exercise lien any time. Comment.
Q 14.12. Define Underwriting. As per the Companies Act, what is maximum percentage of underwriting paid by a company?
15 – Companies Act, 2013: Meeting and Power of Board
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Q 15.1. Every general meeting, in order to be valid, must be duly conveyed, properly constituted and conducted comment.
Q 15.2. Explain the provisions regarding notice of a general meeting.
Q 15.3. What is the significance of annual general meeting?
Q 15.4. What is extraordinary general meeting? When it is called?
Q 15.5. What is the meaning of quorum? What are the provisions of quorum under Companies Act?
Q 15.6. When should the chairman order for poll?
Q 15.7. State the procedure for postal ballot.
Q 15.8. Adjourned meetings do not require fresh notice. Comment.
Q 15.9. Write short note on meeting of creditors.
Q 15.10. Write short note on minutes of general meeting.
Q 15.11. What is the quorum for a board meeting? How is it calculated?
Q 15.12. How is voting is carried out at a board meeting?
Q 15.13. Explain the powers available to the board of directors only with consent of shareholders.
16 – Companies Act, 2013: Management of Company
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Q 16.1. What are the qualifications of a director?
Q 16.2. When is a person disqualified for appointment as a director of the company?
Q 16.3. Who may be appointed as director of a company?
Q 16.4. Explain the law relating to number of directors.
Q 16.5. How can the small shareholder’s director be appointed?
Q 16.6. How can the directors be removed from the office before the expiry of their term?
Q 16.7. Under what circumstances is a director deemed to have vacated the office of directorship?
Q 16.8. Distinguish between managing director and managing director and manager.
Q 16.9. State the provisions relating to making loans to directors.
Q 16.10. What are the disqualifications for managing directors?
17 – Consumer Protection Act, 2015
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Q 17.1. Discuss the scope and applicability of Consumer Protection Act.
Q 17.2. What are the basic rights available to consumers?
Q 17.3. Write a short note on deficiency in services.
Q 17.4. Explain the term ‘consumer’ under Consumer Protection Act with suitable examples.
Q 17.5. Who can file a complaint? Can a parent or guardian of minor file complaint on his behalf?
Q 17.6. Write short note on district forum and state commission.
Q 17.7. Explain reliefs available under the consumer protection act, 2019.
Q 17.8. What are the powers available to the Dispute Redressal Agencies under the Consumer Protection Act, 2019?
18 – Limited Liability Partnership Act, 2008
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Q 18.1. What do you mean by Limited Liability Partnership? State the salient features of Limited Liability Partnerships.
Q 18.2. A limited liability partnership is a body corporate. Comment.
Q 18.3. Provisions of Indian Partnership Act, 1932, are applicable to LLPs and body corporate may be partner of LLP. Comment.
Q 18.4. There is no shareholders in a limited liability partnership; instead, there are partners. Comment
Q 18.5. Can a LLP has less than two partners?
Q 18.6. What are the major duties of a designated partner?
Q 18.7. Write short note on whistle blowing.
Q 18.8. Explain whether audit of all LLPs is mandatory.
Q 18.9. Is the partner, on cessation of the partnership, entitled to receive anything from the LLP?
Q 18.10. How is the profit of a limited liability partnership treated for the purpose of Tax Acts?
Q 18.11. Discuss the advantages and disadvantages of LLP. Practical Problems
QB – Business Laws
Q 2.5. Distinguish between void and voidable contract.
 
Answer: –

 

Contracts can be classified as void or voidable based on their legal enforceability. The key differences are

 

Basis Void Contract Voidable Contract
Definition A contract that is not enforceable by law and has no legal effect. A contract that is enforceable by law but can be canceled by one party.
Validity Invalid from the beginning or becomes invalid later. Initially valid but can be declared void at the option of one party.
Legal Obligation No party has a legal obligation to perform. One party is bound unless the other chooses to cancel it.
Causes Arises due to illegality or impossibility of performance. Arises due to coercion, fraud, misrepresentation, or undue influence.
Example A contract with an illegal objective is void. A contract signed under pressure can be voidable by the affected party.

 Thus, void contracts are never enforceable, while voidable contracts can be enforced unless canceled by the aggrieved party.

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