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DRIVE: SPRING 2016
PROGRAM: Bachelor
of Business Administration- BBA
SEMESTER: 3
SUBJECT CODE &
NAME: BBA 301 LEGAL AND REGULATORY FRAMEWORK
BK ID: B1595
CREDITS AND MARKS:
4 CREDITS AND 60 MARKS
Q.1:
Explain the various types of contracts in detail.
Types
of Contracts (10 Marks)
Ans:
Types
of Contracts:
Contracts
can be classified into various types according to three criteria:
1. According to enforceability by
law
i)
Valid contract:
A contract or an agreement between two parties becomes valid and enforceable by
law when it fulfils all the essential elements of a valid contract.
ii)
Voidable contract:
A contract that can be nullified at the option of an authorised party is called
a voidable
Q.2: What are the characteristics
of a negotiable instrument?
Define Negotiable Instrument. (2
Marks)
Characteristics of Negotiable
Instrument. (8 Marks)
Ans:
Define Negotiable Instrument:
Negotiable
Instruments Act, 1881, a negotiable instrument means a promissory note, bill of
exchange or cheque payable either in order or to bearer.
Explanation – A promissory note, bill of
exchange or cheque is payable to order which is expressed to be so payable or
which is expressed to be payable to a particular person, and does not contain
words prohibiting
Q.3: Define partnership. What are
the modes of determining existence of a partnership?
Define Partnership (2 Marks)
Modes of determining existence of
partnership (8 Marks)
Ans:
Define Partnership:
The
relation between persons who have agreed to share profits of a business carried
on by all over or any of them acting for all.
Modes of determining existence of
partnership:
The
common method for determining whether a group of persons is a firm or not a
firm is to consider the real relation
Q.4: Discuss the different
provisions laid down in District Forum, State Commission and National
Commission.
Consumer Redressal Agencies:
District Forum (2 Marks)
State Commission (4 Marks)
National Commission (4 Marks)
Ans:
District Forum:
This
forum is established in each district of the State by the State Government by
notification in the official gazette for redressal of consumers’ grievances and
disputes.
State
Q.5: Bring out the difference
between FERA and FEMA.
Difference between FERA and FEMA
(10 Marks)
Ans:
Difference between FERA and FEMA:
Foreign
Exchange Management Act, 1999 (FEMA) came into existence as a replacement for the
Foreign Exchange Regulation Act, 1973 (FERA) and came into force on the 1st of
June, 2000. The new Act was brought into force because it was felt that FERA no
longer addressed all the issues related to foreign exchange,
Q.6:
“Patents do not cover abstract ideas or theories, but are intended to cover
specific technical solutions that have some practical application, use or
benefit. A patent is generally available for an eligible invention.” Do you
agree? Substantiate your agreement/disagreement.
Patents
rights are intended for specific technical solutions having some practical
application, use or benefit and no abstract ideas. A patent right is granted
for an eligible invention (10 Marks)
Ans:
Patents
rights are intended for specific technical solutions having some practical
application, use or benefit and no abstract ideas. A patent right is granted
for an eligible invention:
Partnership form of
business organisation has certain advantages, which are as follows:
- Easy to form – Like sole proprietorship,
the partnership business can be formed easily without any legal
formalities. It is not mandatory to get the firm registered. A simple
agreement, either oral or in writing, is sufficient to
Get fully solved assignment. Buy online from website
online store
or
plz drop a mail with your sub code
we will revert you within 2-3 hour or immediate
Charges rs
125/subject and rs 700/semester only.
if urgent then call us on 08791490301, 08273413412
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