Question bank for Legal Aspects of Business

The below said is the Question Bank for Legal Aspects of Business (LAB) with answers. This question bank will make you familiar with the type and pattern of questions that could be asked in university exams. You will also come to know about the probable marking Scheme of the questions.

It is always advisable to prepare the compete syllabus of any subject to fetch good marks. you can consider this question bank for important questions and get to know the type of questions and how the markings will be done generally.

Act wise Questions are Given and along with that expected marking scheme for each points is also mentioned. According to that the students can estimate the weight-age that should be given to respective subpoints.

Indian Contract Act 1871(1872)

1   What is a contract as per Indian Contract Act and also explain the essentials of Valid Contract.

Marking Type

Contract – 3 Marks

Essentials of Valid Contract – 7 marks

2    Explain the Contract of Guarantee and state the circumstances in which the Surety liability is discharged

Marking Type

Contract of Guarantee – 3 Marks

Discharge of surety – 7 marks

3 a) “A agrees to deliver 1000 tons of sugar to B at two installments 500 tons each on 15th and 21st October. On 15th of  October A did not deliver the goods”

Is it a breach of Contract? If yes the who is the aggrieved party here.

b)Discuss the remedies available to the aggrieved parties in case of Breach of Contract.

 Marking Type

a-   4 marks

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b – 6 marks

4. What are the Rights, duties and liabilities of an agent and principal and how and when the Agency can be terminated.                                         

Marking Type

Rights, duties and liabilities-6 marks

Termination – 4 marks

5.      Explain the below said Concepts

a.Capacity to Contract

b.Exception to no consideration no Contract

c.Quasi Contract

Marking Type

a-  3 Marks

b-  4 marks

c-  3 marks

 Sale of Goods Act 1930

1 Define Goods under sale of Goods Act? And explain the types of Goods under sale of Goods Act

 Marking Type

Definition- 3 marks

Types – 7 marks

2 a)“X agrees to produce the oil to Y in the containers which Y will give to X. and X filled all the containers mean while fire broken and all the containers destroyed “

In this case the ownership lies with whom X or Y.

b) State the provisions relating to transfer of ownership and property according to Sale of Goods Act, 1930?

 Marking Type

a- 4 marks

b-  6 marks

3 Explain the nature of a contract of sale of goods and also Differentiate Sale and Agreement to Sell with suitable examples.

 Marking Type

Nature – 4 marks

Difference- 6 marks

4. Explain the concept of Conditions and Warranties. What are its types? And differentiate them

 Marking Type

Concept- 3 mark

Types – 4 marks

Difference- 3 marks

5. Who is an Unpaid seller? Discuss the rights available to him

Marking Type

Unpaid seller- 3 marks

Rights- 4 marks

SEE ALSO:  Rights of Consumers according to Consumer Protection Act

Negotiable Instruments Act 1881

1. Define Negotiable Instruments? Discuss the types and various uses of Negotiable Instruments.

 Marking Type

Definition- 3 marks

Types- 7 marks

2. Who is a Holder in Due course as per Negotiable Instruments Act 1881. What are the Special Privileges available to him

 Marking Type

Meaning- 4marks

Special Privileges-  6 marks

3. How and when the Dishonour of Negotiable Instruments Happens. What is  noting and protesting

 Marking Type

Dishonour- 6 marks

Noting and Protest- 4 marks

4. What is an Endorsement? Explain the various Types of Endorsement with illustrations.

 Marking Type

Endorsement- 3 marks

Types- 7 marks

5 What are the Characteristics of a Negotiable Instrument and explain the liabilities on parties involved in Negotiable instruments.

 Marking Type

Characteristics- 5 marks

Liabilities- 5 marks

Companies Act 1956

1. Define Company as per Companies Act?. Discuss the kinds of companies with current examples

 Marking Type

Definition – 3 marks

Types- 7 marks

2 What is the importance of Memorandum of Association and Articles of Association?  How and when it can be altered

 Marking Type

Importance- 5 marks

Alterations- 5 marks

3  “A certification of incorporation is conclusive evidence that all the requirements of companies Act have been compiled with” Discuss the statement

 Marking Type

Meaning of Statement of Incorporation  3 marks

Discussion on Statement-  7 marks

4. What is a prospectus, why and how it is made. what is statement in lieu of Prospectus

 Marking Type

Meaning – 4 marks

Lieu- 6 marks

5. Explain the types of share capital and provisions related to increase and decrease of share capital

 Marking Type

Types- 5 marks

Provisions- 5 marks.

Other Acts ( consumer Protection Act, Information Technology Act, Intellectual Property Act) 

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1. Explain the Concept of Patents, Copy right, Trade mark & Design under the Patents Act

 Marking Type

Patents – 4 marks

Trade mark- 3 marks

Copyright – 3 marks

2. What is a Digital Signature and state provisions relating to Electronic Governance

 Marking Type

Digital Signature- 5 marks

Governance  – 5 marks

3. Define consumer? Discuss the Restrictive and unfair trade Practices as per Consumer Protection Act along with examples.

 Marking Type

Consumer – 2 marks

Unfair and restrictive trade Practices- 8 marks

4. a)“St ate the provisions regarding the consumer dispute redressal agencies as per Consumer Protection Act 1986”

b) “Do you think there is a requirement of amendment in this Act”- Justify your Suggestion.

 Marking Type

a- 6 Marks

b- 4 Marks

5   “ Consumer Protection Act provides cheap and expeditious remedies to the Consumers” – comment also discuss the rights of Consumers as per Consumer Protection Act 1986

 Marking Type

Comment- 6 marks

Rights- 4 marks

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