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Xaviers Institute of Business Management Studies
COURSE :MBA
Corporate Law
Maximum Marks: 100
Note: Answer any Five questions. All questions
carry equal marks.
Question: 1."All contracts are agreements
but all agreements are not contracts." Discuss this statement in light of
the essential elements of a valid contract. Also mention briefly the different
kinds of agreements under the India Contract Act, 1872.
Answer:
Question: 2. Discuss, what are the rights,
liabilities and disabilities of a minor as per the Indian Partnership Act,
1932.
Answer:
Minor: According to Section 3 of the Indian Majority Act, a person who has not
attained the age of majority i.e. 18 years, is known as minor. Section 4 of the
Indian Partnership Act, 1932, defines partnership and partner as follows:
‘Partnership is the relation between persons who have agreed to share the
profits of a business carried on by all or any of them acting for all. Persons
who have entered a partnership with one
Question: 3. What do you understand by implied
warranties and conditions of sale according to the sale of Goods Act, 1930?
Answer: The Sale of Goods Act came into effect on 1st July 1930 and deals
with the contracts or agreements related to sale/purchase of goods. The
contract of sale of goods, whereby a seller transfers or agrees to transfer the
property in the goods to the buyer for a specific consideration, i.e. price,
has following main essentials for its validity: Two consenting parties
·
Buyer – A person
who buys or agrees to buy goods.
·
Seller – A person
who
Question: 4. Differentiate between lay-off and
retrenchment according to the Industrial Disputes Act, 1947.
Answer: The biggest difference between layoff and retrenchment is that
layoff is volatile in nature, i.e. employees are recalled, once the period of
layoff is over while retrenchment is non-volatile i.e. that involves full and
final termination of services.
Question: 5. Give the provisions related to
safety as given in the Factories Act, 1948.
Answer: Safety-related
provision
Section 21
Fencing of machinery
In every factory where a motion or transmission machine is used in
that condition, fencing is a must. The speed of the automatic moving machine is
very high and it creates the danger of the life of workers. But we remove
fencing
Question: 6. What are the characteristics or
essential features of a company and briefly mention the types of companies.
Answer: The most important characteristics of a
company:
1. Legal person – It is created by law. It is considered as a person
in the eyes of law.
2.
Artificial person
– It has no body and mind of its own. It can act only through other persons
elected for the purpose.
3. Continued existence – A company
7. What do you understand by electronic governance
and what are the attributes of electronic records as mentioned in the
Information Technology Act, 2000.
Answer:
8. Discuss the concept of free consent and
misrepresentation as per the Indian Contract Act, 1872.
Answer:
9. Distinguish between private and public
company. What are the special privileges of a private company over public
company according to Companies Act, 1956?
Answer:
10. Write short notes on any two of the
following:
(a) Cyber regulation
(b) Industrial Dispute
(c) Breach of Contact
(d) Voidable contracts.
Dear
students, Get assignments and Case
studies
Do send your
query at :
or call us at
:08263069601
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