M.B.A. I Semester Supplimentary Examinations, Jul/Aug 2008 BUSINESS LAW AND REGULATION ---Time: 3 hours Max Marks: 60 Answer any FIVE Questions All Questions carry equal marks
1. What are the essentials of valid consideration? Answer with suitable examples. 2. What do you understand by reciprocal promises? 3. Explain the doctrine ‘Caveat Emptor’ and state the exceptions to it. 4. What are the diﬀerences between joint Hindu family organization and the partnership organization? 5. Deﬁne a negotiable instrument. Describe brieﬂy the characteristics of a negotiable instrument. Give examples for negotiable instruments. 6. (a) Write a note on “Doctrine of Indoor Management”. (b) What is a Prospectus? State its contents. Also discuss the consequences of non-disclosure of matters which ought to be included in the prospectus. 7. Deﬁne the following terms: (a) Person (b) Assessee (c) Assessment Year (d) Previous Year. 8. Deﬁne the terms ‘Manufacture’ and ‘Manufacturer’. Bring out the basic ingredients of manufacture.