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

14 pages, 29 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 PART I Answer all the questions Question 1 (a) Z rented out his house situated at Mumbai to W for Rs. 10,000 per month. A sum of Rs. 5 lacs, the house tax payable by Z to the Municipal Corporation being in arrears, his house is advertised for sale by the Corporation. W pays the Corporation, the sum due from Z to avoid legal consequences. Referring to the provisions of the Indian Contract Act, 1872 decide whether W is entitled to get the reimbursement of the said amount from Z. (5 Marks) (b) State with reasons whether the following statements are correct or incorrect: (i) Employees can relinquish their right to receive minimum bonus by an agreement with employer. (ii) Ratification of agency is valid even if knowledge of the principal is materially defective. (2 x 1 = 2 Marks) (c) Pick out the correct answer from the following and give reasons: (i) X sells the goodwill of his retail store to Y for Rs. 5 lacs and promises not to carry on the same business forever and anywhere in India. Is the agreement : 1. Valid 2. Void 3. Voidable 4. Illegal (3 x 1 = 3 Marks) (ii) A without B s authority let outs B s flat to C. Afterwards B accepts rent of the flat from C. It is an agency by : 1. Holding out 2. Estoppel 3. Ratification 4. Necessity (iii) P, obtains a cheque drawn by M by way of gift. Here P is a : 1. holder in due course 2. holder for value 3. holder 4. None of the above The Institute of Chartered Accountants of India

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