Ic Mind - Business Law Essay

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Need Answer Sheet of this Question paper, contact aravind.banakar@gmail.com www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 Business Law 1. (a) Discuss the term ‘Continuing Guarantee’. How can it be revoked? b) State briefly the rights and obligations of a bailee. 2. (a) What do you understand by the term Implied ‘Authority of a partner’? (b) Enumerate the acts, which are not covered under implied authority. 3. (a) What are the rights and duties of a minor in relation to partnership business? (b) Distinguish between -- (i) Sub-agent and Substituted Agent (ii) Sale, Bailment and Pledge 4. (a) Explain the rights of a partner. (b) Distinguish between the following: (i) Succession and Assignment. (ii) Contract of Indemnity and Contract of Guarantee. 5. Write short note on. i) Non-registration of a firm. ii) Capacity of Contract iii) Kinds of Bailment. iv) Anticipatory breach of a Contract. 6. a) When is a Surety Discharged from Liability by the conduct of the creditor? b) Describe the rules relating to passing of property in the sale of goods. 7. a) What is an illegal agreement? State the effects of illegality. b) What is ‘Supervening Impossibility’? What are their effects upon the contract? c) What are the remedies available to the buyer when goods in wrong quantity delivered to him? d) When shall a retired partner be discharged from his liabilities for the acts of the firm before retirement? 8. (a) State the principles on which damages are assessed for breach of contract. (b) Describe the law relating to the ‘right of resale’

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