Time: 3 Hours
New course (Business Laws)
Full Marks: 80
Pass Marks: 24
1. Fill in the blanks: 1x4=4
(a) A contract is not ____________________ by commercial impossibility.
(b) Indian Contract Act was enacted in __________________.
(c) A sale is an ___________ contract.
(d) State commission can entertain complaints of goods/services up to Rs. _______________.
2. Write true or false: 1x4=4
(a) Promissory note involves three parties.
(b) National savings certificates are not negotiable instruments.
(c) Public utility service includes railway service.
(d) Industrial disputes Act was enacted in 1948.
3. (a) “ No Consideration, no contract.” Explain. Discuss the exception to this rule 4+10=14