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CA IPCC : Revision Test Paper (with Answers) - BUSINESS LAWS, ETHICS & COMMUNICATION May 2015

17 pages, 28 questions, 0 questions with responses, 0 total responses,

CA IPCC
Tilak Vidyalaya Higher Secondary School (TVHSS), Kallidaikurichi

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PAPER 2: BUSINESS LAWS, ETHICS & COMMUNICATION QUESTIONS PART A: BUSINESS LAWS The Indian Contract Act, 1872 1. (a) A railway company refuses to deliver up certain goods to the consignee, except on the payment of an illegal charge for carriage. The consignee pays the sum charged in order to obtain the goods. Decide the legal position of the consignee as per the Indian Contract Act, 1872. (b) Mr. Anand contracts with Mr. Birendra that, if he (Anand) practices as a surgeon within Calcutta, he will pay Birendra ` 5000. Later, Anand starts practising as a surgeon in Calcutta. Discuss the right available to Birendra with reference to the provisions of the Indian Contract Act, 1872. 2. (a) Aditya holds a lease from Birla which is terminable on three months notice. C, an unauthorized person gives notice of termination to Aditya. Examine with reference to the provisions of the Indian Contract Act, 1872, whether Aditya is bound by termination of Lease. (b) A owns a shop in Serampore, living himself in Calcutta, and visiting the shop occasionally. The shop is managed by B, and he is in the habit of ordering goods from C in the name of A for the purposes of the shop, and of paying for them out of A s funds with A s knowledge. Discuss in the light of the provisions of the Indian Contract Act, 1872, whether B is authorised to conduct the business in the name of A. The Negotiable Instruments Act, 1881 3. Mr. Wise obtains from Mr. Decent, a cheque crossed Not Negotiable frauduently. He later transfers the cheque to Mr. T, who gets the cheque encashed from Bank, which is not the Drawee Bank. Mr. Decent comes to know about the fraudulent act of Mr. Wise, he sues Bank for the recovery of money. Examine with reference to the relevant provisions of the Negotiable Instruments Act, 1881, whether Mr. Decent will be successful in his claim. Would your answer be still the same in case Mr, Wise does not transfer the cheque and gets the cheque encashed from Bank himself? 4. Bal Bharti executed a promissory note in favour of Kulbhushan for ` 1 crore. The said amount was payable three days after sight. Kulbhushan, on maturity, presented the promissory note on 1st January, 2015 to Bal Bharti. Bal Bharti made the payments on 4th January, 2015. Kulbhushan wants to recover interest for one day from Bal Bharti. Advise Bal Bharti, in the light of provisions of the Negotiable Instruments Act, 1881, whether he is liable to pay the interest for one day? The Institute of Chartered Accountants of India

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