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154
ROLL NO, rcessescseeresscesnees
Time allowed : 3 hours Maximum marks ; 100
Yotal number of questions : 8 Total number of printed pages : 4
PART —- A
(Answer Question No.1 which is cempulsory
and any two of the rest from this part.)
1. (a) State, with reasons in brief, whether the following statements are uc or false. Attempt any five :
@
Gi)
Gi)
Gy)
()
wid
(vin)
The liability of a sleeping partner is limited.
The Indian Contract Act, 1872 is not exhaustive on the law of contract.
Cheques are always payable on demand.
Future goods can be the subject matter of sale.
Continuing guarantee cannot be revoked.
A minor cannot be a full-fledged partner in a partnership firrn.
A foreign company cannot be incorporated in India.
(2 marks euch)
{b) Re-write the following sentenccs after filling-in the blank spaces with appropriate
word(sVfigure(s) :
@) A partnership comes into existence by means of between the partners.
(i) The entire process of the company formation may be divided into distinct
stages. .
Gi) ~~ Minor's is Hable for necessaries of life supplied to him.
(iv) A public company must have at least members,
(vy) A negotiable instrument may be transferred by negotiation or by
1/2011 /EBLM
(1 mark each)
P.T.O.
154/1
154
()
22:
Mohan, a singer agrees to sing at Twinkle’s theatre for a certain period. He further agrees that
during the prescribed period, he will not sing at any other theatre, Afterwards, Mohan makes
a contract with Sohan to sing at his theatre during that period and refuses to sing at Twinkle’s
theatre. What remedies Twinkle has against Mohan ? Give reasons.
(5 marks)
2. Distinguish between any tirve of the following :
@
Gi)
(it)
(iv)
‘Negotiability’ and ‘assignability’,
‘Sale’ and ‘bailment’.
‘Particular lien’ and ‘general lien’.
‘Manager’ and ‘managing director’ of a company.
(5 marks each) *
3. Attempt any three of the following :
@
di)
it
(iv)
Enumerate the sources of Indian mercantile law.
Write a note on ‘material alteration’.
When is an ‘agency’ irrevocable ? Explain.
What is quanuen meruit 7
(3 marks each)
4, Attempt any three of the following :
@
i
(i)
tiv)
Amit is the payee of an order cheque. Bhanu steals the cheque and forges Amit's signature and
endorses the cheque in his own favour. Bhanu then endorses it to Chander who takes the
same in good faith and for valuable consideration. Is Chander a holder in due course ? Give
reasons.
Sandeep is a jeweller. He deals in artificial jewellery. Sandeep sells his business to Kuldeep
and also charges for the goodwill. Sandeep further agrees with Kuldeep that he will not do
the business in artificial jewellery as well as in real jewellery within local limits and for a certain
period of time, Is this a valid contract ? Give reasons,
“No one can question the validity of a certificate of incorporation of a company ance it is
issued,” Comment on this statement.
“Promoters stand in a fiduciary-relation vis-a-vis the company they promote.” Comment on
this statement,
(3 marks each)
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