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DRIVE
SUMMER
2014
PROGRAM
Bachelor
of Business Administration- BBA
SEMESTER
III
SUBJECT
CODE & NAME
BBA
301-Legal and Regulatory Framework
Q.1.
Explain the clause related to the acceptance of proposal and the mandatory
conditions attached with it. ( Explanation of acceptance of proposal,
Explanation of mandatory conditions) 5,5
ANS:
Acceptance of proposal: ICA states: “A proposal is said to be accepted when the
person to whom the proposal
is made signifies his assent thereto. A proposal when accepted becomes a promise.” The offeree
agrees to be bound by the terms of the offer by accepting it. When the
receiver of a proposal communicates his agreement to the proposer to act as per
the proposal, he gives his ‘acceptance’ to the proposal. A proposal, when
accepted,
Q.2.
Define the meaning of a ‘Cheque’.Explain the crossing of a cheque and its
types. (Meaning of ‘cheque’, Crossing of a cheque, Types of crossing) 3,3,4
ANS:
Meaning
of ‘cheque’: the
Negotiable Instruments Act defines a cheque as a “bill of exchange drawn on a
specified banker and not expressed to be payable otherwise than on demand and
it includes the electronic image of a truncated cheque and a cheque in the
electronic form.” A cheque is a a bill of exchange but it has the following
additional qualifications:
Q.3.
Decisions of the members at general meetings are expressed by way of
resolutions. What do you understand by the term resolution here? Explain it
with its kinds. (Explanation of resolution, Explanation of kinds of
resolutions) 10
ANS:
Resolution: Decisions of the members at
general meetings are expressed by way of resolutions. At the meetings, a
definite proposal in the form of a ‘motion’ is placed; it is discussed
thoroughly and finally is put to vote. Once voted upon by a majority of
members, it becomes a resolution and is recorded by the company.
Resolutions are used as tools for introducing new policies and for amending
existing policies of the company.
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Q.4.
“CPA provides for the establishment of the central consumer protection
council”. Explain the objectives of the central council in the light of the
above statement. (Explanation of objectives) 10
ANS:
Objectives
of the Central Council: The
primary objective of the Central Council is to promote and protect the rights
of the customers. These rights are as follows:
1. Right to safety: Consumers
have the right to be protected against the marketing of goods and services,
which
Q.5.
FEMA clearly defines the acts that can be termed as offences under its purview.
What are these malpractices which are covered under FEMA act? ( Explanation of offences under FEMA) 10
ANS:
Offences
under FEMA: FEMA
clearly defines the Acts that can be termed as offences under its purview.
It is the duty of the Directorate of Enforcement to investigate and prevent
leakage of foreign exchange which generally occurs through the following
malpractices:
·
Remittances
of Indians abroad otherwise than through normal banking channels, i.e. through
compensatory payments.
Q.6.
List the features and precautions of Trade mark Act, 1999. ( Listing of
features, Listing of precautions) 8,2
ANS:
Salient features of Trade Mark
Act, 1999 :
1. Multi class applications are
allowed in India. However, statutory filing fees will be applicable for each
class.
2. Classification of goods and
services is according to Trademark Classification of Goods and Services (45
classes).
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