SUBJECT:- Corporate Law

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INDIAN SCHOOL OF BUSINESS

MANAGEMENT & ADMINISTRATION

AN ISO 9001 : 2008 CERTIFIED INSTITUTION

SUBJECT:- Corporate Law

MARKS :80

Course :MBA-4 Sem (Masters In Business Administration

Name :

           

Answer the question in one line.

Q1. Discuss tangible and intangible propebly. (10 marks)

Answer:Tangible property in law is, literally, anything which can be touched, and includes both real property and personal property (or moveable property), and stands in distinction to intangible property.

In English law and some Commonwealth legal systems, items of tangible property are referred to as choses in possession (or a chose in possession in the singular). However, some property, despite being physical in nature, is classified in

Q2. What is FERA? (10 marks)

Answer:The Foreign Exchange Regulation Act (FERA) was legislation passed by the Indian Parliament in 1973 by the government of Indira Gandhi and came into force with effect from January 1, 1974. FERA imposed stringent regulations on certain kinds of payments, the dealings in foreign exchange and securities and the transactions which had an indirect impact on the foreign exchange and the import and export of currency. The bill was

Q3. What is FEMA? (10 marks)

Answer:The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India". It was passed in the winter session of Parliament in 1999, replacing the Foreign Exchange Regulation Act (

Q4. What are the essentials of contract (10 marks)

Answer: Minimum two parties :-Atleast two parties are needed to enter into a contact. One party has to make an offer and other must accept it. The person who makes the 'proposal' or 'offer' is called the 'promisor' or 'offeror'. While, the person to whom the offer is made is called the 'offeree' and the person who accepts the offer is called the 'acceptor'.

Offer and acceptance :- There must be an 'offer' and an 'acceptance' to the offer, resulting into an agreement. Both offer and acceptance should be lawful

Q5. Write the distinguishing points of void agreement and voidable contract (10 marks)

Answer: A contract or a document that is void means that everything on it stays nothing can be changed for a said amount of time like when a major corporation sends your a check and you have up to 180 days to cash it, but nothing on that check changes at all within those days. Just like a document that is a contract for a cleaning company for six months with set items to do nothing more and nothing less. If any part of this document of tender changes it is then voided and not any good to the presented and the maker. Now for the voidable

Q6. State which persons are competent to contract (10 marks)

Answer:According to section 10 of the Indian Contract Act the parties must be competent to contract.

The question who are competent to contract is answered by section 11 of the Indian Contract Act . Section 11 says that every person is competent to contract who is of the age of majority according to the law to which he is subject , and who is of sound mind , and is not disqualified from contracting by any law to which he is subject .

Q7. What do you mean by consent and free consent (10 marks)

Answer:CONSENT :-Without the consent of the parties contract cannot take place. Where the parties have different things in mind or understand the same thing in different ways is not real consent. It defines in the following words :

"When two or more person agree upon the same thing in the same sense, they are said to be consent."

In above definition two words are more important, same thing and same sense. In some cases the consent may have been given under the mistake which

Q8. Threat to commit suicide - is it coercion? (10 marks)

Answer: Coercion is the practice of compelling a person or manipulating them to behave in an involuntary way (whether through action or inaction) by use of threats, intimidation or some other form of pressure or force. Coercion may involve the actual infliction of physical or psychological harm in order to enhance the credibility of a threat. The threat of further harm may then lead to the cooperation or obedience of the person being coerced.

The term is often associated with circumstances which involve the unethical use of threats or harm to achieve some objective. Coercion may also

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