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CA IPCC : Question Paper (with Answers) - BUSINESS LAWS, ETHICS & COMMUNICATION Nov 2010

17 pages, 34 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 AND COMMUNICATION Question No.1 is compulsory. Attempt any five questions from the remaining six questions. Question 1 (a) X sent a consignment of mobile phones worth Rs. 60,000 to Y and obtained a railway receipt therefore. Later, he borrowed a loan of Rs. 40,000 from Star Bank and endorsed the railway receipt in favour of the Bank as security. In transit the consignment of mobile phones was lost. The Bank files a suit against the railway for a claim of Rs.60,000, the value of the consignment. The railway contended that the Bank is entitled to recover the amount of loan i.e. Rs. 40,000 only. Examining the provisions of the Indian Contract Act, 1872, decide, whether the contention of the railway is valid. (5 Marks) (b) (I) State with reasons whether the following statements are correct or incorrect. (i) A promissory note duly executed in favour of minor is void. (ii) No consideration is necessary to create an Agency. (2 1 Marks) (II) Choose the correct answer from the following and give reasons (3 1 Marks) (i) Where both the parties to an agreement are under mistake as to a matter of fact, which is essential to the agreement, the agreement is: (a) Valid (b) Voidable (c) Void (d) Illegal. (ii) In a Contract of Guarantee there is/are : (a) One contract (b) Two contracts (c) Three contracts (d) Four contracts. (iii) Cash is withdrawn by the customer of a bank from the automatic teller machine is an example of: (a) Express contract (b) Void contract (c) Tacit contract (d) Illegal contract. (c) RSP Limited, allotted 500 fully paid-up shares of Rs. 100 each to Z, a minor, in response to his application without knowing that he was a minor and entered his name in the (c) Copyright The Institute of Chartered Accountants of India

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