ICSI BUSINESS LAW PART 2 

1. (a) Distinguish between sale and hirepurchase agreement.
(b) "Once an instrument passes through the hands of a holder in due course, it is purged of all defects." Explain.
(c) Write a note on contract over the telephone

2. (a) Distinguish between dissolution of partnership and dissolution of partnership firm 

(b) Under what circumstances can an aggrieved party institute a suit for injunction and for specific performance of a contract? Explain with examples. 

(c) Ajeet, owner of an apple orchard, believes that all the apple trees in his orchard are fruitbearing trees. However, he has no sufficient ground for his belief. Even then, Ajeet states to Baljeet that his orchard has all fruitbearing trees. Induced by this statement, Baljeet purchases the orchard. Later on, it is found that only 50% trees are fruitbearing. Now, Baljeet files a suit for the repudiation of the contract. Will Baljeet succeed ? Give reasons.

3. (a) Distinguish between any two of the following 
(i) Condition and warranty. 
(ii) Partnership and Hindu Undivided Family
(iii) Private company and public company.

4. (a) Distinguish between sale and an agreement to sell under the Sale of Goods Act, 1930. 
(b) Discuss briefly whether an agreement by way of wager is a voidable contract.
(c) Define negotiable instrument. Distinguish between a bill of exchange and cheque. 

5. Distinguish between void contract and voidable contract.

6. Distinguish between shareholders and members of a company

7.Distinguish between functional form of departmentation and product form of departmentation. Describe with the help of diagrams and illustrations 

 

8. Distinguish between negotiation and assignment