MBA MAGADH UNIVERSITY QUESTION (2016-2018) (Fourth Semester) Business and Industrial Law

MBA MAGADH UNIVERSITY QUESTION (2016-2018) (Fourth Semester) Business and Industrial Law 
MBA MAGADH UNIVERSITY QUESTION (2016-2018) (Fourth Semester) Business and Industrial Law

                                                                        2016-2018
                                                                      Time: 4 hours
                                                                      Full marks: 80
                                       Candidates are required to give their answers in their
                                                       Own words as far as practicable.
                                                       The questions are of equal value.
                                                           Answer any five questions.

1. "All contracts are agreements, but all agreements are not contracts". Discuss the statement explaining the essential elements of a valid contract.

2. Define the term "Offer" . Explain the legal rules regarding a valid offer.

3. What do you understand by the term 'acceptance'? What are the essentials of a valid acceptance?

4. Define consideration. Discuss the essential elements of it.

5. What do you mean by ' capacity to contract'? What is the effect of agreements made by persons of unsound mind?

6. Define Agency. Give the general rules of agency.

7. Define partnership. Discuss the essential elements of partnership.

8. Define Negotiable Instrument. Explain the characteristics of it.

9. Define insolvent under law of insolvency. Discuss the objects of insolvency laws.

10. Write short notes on any two of the following:
       (a) Free Consent
       (b) Misrepresentation
       (c) Minor
       (d) Fire Insurance

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