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C
Course Code: DCOM404
Course Title: Corporate Legal Framework
Time Allowed: 3 hours Max. Marks: 80

1. This paper contains 10 questions divided in two parts on 1 page.


2. Part A is compulsory.
3. In Part B (Questions 2 to 10), attempt any 6 questions out of 9. Attempt all parts of the
selected question.
4. The marks assigned to each question are shown at the end of each question in square brackets.
5. Answer all questions in serial order.
6. The student is required to attempt the question paper in English medium only.
Part A
Q1.
(a) What is the meaning of Acceptance?
(b) What is difference between Offer and invitation to offer?
(c) What is the difference between Indemnity and guarantee?
(d) What is the meaning of principal?
(e) What are the rights of surety?
(f) What is difference between Sub agent and substitute agent?
(g) What is the meaning of “Negotiable instrument “?
(h) What do you understand by Memorandum of Association?
(i) What is a prospectus?
(j) What do you mean by limited liability under Company act 1956? [2x10= 20]

Part B
Q2. Write five differences between mistake and misrepresentation under Indian contract act? [10]
Q3. What are modes of discharge of contract? [10]
Q 4. Explain the powers and functions of SEBI. [10]
Q5. Discuss the kinds of company in details. [10]
Q6.Describe the offences under IT act? [10]
Q7. Explain consumer dispute redressal agencies. [10]
Q8. Describe the benefits under .Pension fund scheme. [10]
Q 9. a) The director of a railway company which had fully exhausted its borrowing powers advertised for
money to be lent on the security of debentures. W lent Rs 500000 upon the footing of advertisement and
received debentures. Can W recover the amount? Give reason.
b) A telephone company put up telephone wires in a certain area. The company had no power in the
memorandum to put up wires there. X cut them down. Can company sue X for damages? Give reason.
[2X5=10]
Q10. a) The memorandum of association of a company formed to improve and encourage the breeding of
poultry contained a provision that no remuneration should be paid to the members of governing body of the
company. But the company owing to its increase in the business passed a special resolution providing
equitable remuneration to such members for service rendered . Is this alteration of MOA valid? Give reason.

b) A company was incorporated in England for the purpose of selling in England tyres made in Germany by a
German company which held the bulk of shares in English company . The holders of remaining shares,
except one, and all the directors were Germans , resident in Germany. During the first world war, the English
company started an action for recovery of a trade debt . Can the English company recover the trade debt?
Give reason. [2X5=10]