Nr R5 15 Mba Business Law And Regulations

NR/R5

Code No: NR/R5-1/MBA M.B.A. I-Semester Examinations, JAN/FEB 2008. BUSINESS LAW AND REGULATIONS Time: 3 hours

Max Marks: 60 Answer any FIVE questions Any question carry equal marks ---

1.

Define ‘consideration’. Why is it treated as an essential part of a contract? State the legal rules regarding consideration.

2.

What do you understand by a contingent contract? What are the essentials and legal rules for a valid contingent contract?

3.

Define a contract of Guarantee. What are the essentials of a contract of Guarantee?

4.

“ A partnership comes into existence by virtue of an agreement and by status”. Comment.

5.

How you will classify the negotiable instruments? What are the different kinds of a negotiable instrument?

6.

“ The fundamental attribute of corporate personality is that the corporation is a legal entity distinct from its members”. Discuss.

7.

What are the main provisions of Income Tax Act?

8.

Give a comprehensive note on the concept Substantiate your answer with suitable examples. ****

of

VAT.