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CA IPCC : Question Paper (with Answers) - BUSINESS LAWS, ETHICS & COMMUNICATION May 2011

15 pages, 30 questions, 2 questions with responses, 2 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) What is the law relating to determination of compensation, on breach of contract, contained in section 73 of the Indian Contract Act, 1872 ? (5 Marks) (b) (I) State whether the following statements are correct or incorrect.: (i) (2 1= 2 Marks) An agreement with a minor may be ratified on his attaining majority. (ii) A cheque marked Not-Negotiable is not transferable. (II) Choose the correct answer from the following : (i) (3 1= 3 Marks) Which one of the following statements is not true about minor s position in the firm: (a) He can not become a partner in the firm. (b) A minor and a major can enter into an agreement of partnership. (c) He can be admitted to the benefits in the firm. (d) He can become a partner on becoming a major. (ii) The delivery of goods by one person to another for some specific purpose and time is known as: (a) Mortage (b) Pledge (c) Bailment (d) Charge (iii) An agency in which the agent himself has interest in the subject matter of agency is called: (a) Agency by estoppel (b) Agency by holding out (c) Agency by necessity (d) Agency coupled with interest (c) Explain clearly the concept of perpetual-succession and common-seal in relation to a company incorporated under the Companies Act, 1956. (5 Marks) (d) What is the law and procedure relating to registration of a non-profit organization as a company under the Companies Act, 1956 ? (5 Marks) The Institute of Chartered Accountants of India

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