IIBMS – CORPORATE LAW

1. (a) Discuss the term ‘Continuing Guarantee’. How can it be revoked?

(b) State briefly the rights and obligations of a bailee.

1. (a) What do you understand by the term Implied ‘Authority of a partner’?

(b) Enumerate the acts which are not covered under implied authority.

1. (a) What are the rights and duties of a minor in relation to partnership business?

(b) Distinguish between —

(i) Sub-agent and Substituted Agent

(ii) Sale, Bailment and Pledge

1. (a) Explain the rights of a partner.

(b) Distinguish between the following:

(i) Succession and Assignment.

(ii) Contract of Indemnity and Contract of Guarantee.

1. Write short note on.
2. i) Non-registration of a firm.
3. ii) Capacity of Contract

iii) Kinds of Bailment.

1. iv) Anticipatory breach of a Contract.
2. a) When is a Surety Discharged from Liability by the conduct of the creditor.
3. b) Describe the rules relating to passing of property in the sale of goods.
4. a) What is an illegal agreement? State the effects of illegality.
5. b) What is ‘Supervening Impossibility’? What are its effect upon the contract?
6. c) What are the remedies available to the buyer when goods in wrong quantity delivered to him?
7. d) When shall a retired partner be discharged from his liabilities for the acts of the firm before retirement?
8. (a) State the principles on which damages are assessed for breach of contract.
9. (b) Describe the law relating to the ‘right of resale’ available to an unpaid seller in the Sale of Goods Act, 1930.

1. a) What are the rules regarding delivery of goods?
2. b) Distinguish between:
3. i) Novation and Alteration.
4. ii) Liquidated damages and penalty
5. a) Transferee of a partner’s interest cannot exercise the right of transferring partner.
6. b) Appropriation is a right primarily of the debtor and for his benefit.
7. c) A proposal can be revoked otherwise than by communication.
8. d) Right of stoppage in transit is an extension of the right of lien.

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