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Tilak Vidyalaya Higher Secondary School (TVHSS), Kallidaikurichi
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Paper 2: Business Laws, Ethics and Communication Question Answers to questions are to be given only in English except in the case of candidates who have opted for Hindi medium. If a candidate who has not opted for Hindi medium, answer in Hindi, his answer in Hindi will not be valued. PART I Question Nos. 1 and 2 are compulsory. Attempt any eight questions from the rest. 1. (a) Ashok lends Rs.50,000, on terms that it will be returned in two month s time, to Sanjay for helping the latter buy certain contraband transmitting equipment. Can Ashok get the loan amount returned in case Sanjay defaults and under what circumstances? (b) State with reason whether the following statements are correct or incorrect: (i) A minor is a person who has not completed 21 years of age. (ii) Strikes, lock-out and civil disturbances do not discharge a contract. (c) Pick out the correct answer from the following and give reasons. (i) X undertakes to paint a picture of Y. X dies before painting it. The contract is (a) (b) becomes voidable at the option of Y. (c) becomes voidable at the option of X s legal representatives. (d) (ii) discharged by X s death. will have to be performed by that legal representative of X, who has good painting skills. Specific performance may be ordered by the Court when (a) the contract is voidable. (b) damages are an adequate remedy. (c) damages are not an adequate remedy. (d) the contract is uncertain. (iii) A contract of indemnity is a (a) (b) Wagering Contract. (c) Quasi Contract (d) 2. Contingent Contract. Void Agreement (a) Annual General Meeting of a Public Company was scheduled to be held on 15.12.2008. Mr. A, a shareholder, issued two Proxies in respect of the shares held by him in favour of Mr Y and later another in favour of Mr. X . The proxy in favour of Y was lodged on 12.12.2008 and the one in favour of 6

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Chartered Accountancy (ICAI India) : Integrated Professional Competence Course (IPCC) - Model / Mock Test Paper for Business Laws, Ethics & Communication Group I Paper 2

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