Business Laws<br />Multiple Choice Questions:<br /><ul><li>Property of the company belongs to</li></ul>a) Company<br /> b)...
200</li></ul>3.   Minimum paid up share capital in case of a private company is _______<br /><ul><li>1 Lakh
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competition act


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competition act

  1. 1. Business Laws<br />Multiple Choice Questions:<br /><ul><li>Property of the company belongs to</li></ul>a) Company<br /> b) Share holders <br />c) Members <br />d) Promoters<br />2. Maximum no. of members in case of private company is<br /><ul><li>50
  2. 2. 100
  3. 3. 150
  4. 4. 200</li></ul>3. Minimum paid up share capital in case of a private company is _______<br /><ul><li>1 Lakh
  5. 5. 2 Lakhs
  6. 6. 3 Lakhs
  7. 7. 4 Lakhs</li></ul>4. The company’s nationality is decided by its<br /><ul><li>Shareholders
  8. 8. Registered office
  9. 9. Place at books of accounts are kept
  10. 10. None of the above</li></ul>5. The liability of members if company is limited by guarantee.<br /><ul><li>Unpaid value of shares
  11. 11. Guarantee amount
  12. 12. Unlimited liability
  13. 13. None of the above</li></ul>6. The liability of members if company is limited by shares<br /><ul><li>Unpaid value of shares
  14. 14. Guarantee amount
  15. 15. Unlimited liability
  16. 16. None of the above</li></ul>7. Transfer of shares in the company is<br /><ul><li>Restricted
  17. 17. Freely transferable
  18. 18. Prohibited
  19. 19. None of these</li></ul>8. If the guarantee Co. having share capital the liability of shareholders will be<br /><ul><li>Guarantee +unpaid value of shares
  20. 20. Unpaid value of shares
  21. 21. Unlimited
  22. 22. None of the above</li></ul>9. Y Pvt.Co. is subsidiary of X Co. which is a public Company? Mention Y is a<br /><ul><li>Private Co.
  23. 23. Public Co.
  24. 24. Government Co.
  25. 25. None of these</li></ul>10. XYZ Co, is having 10% share capital held by another Public Company and 35% held by Central<br />Government and 55% held by people then that Company is<br /><ul><li>Government Company
  26. 26. Private Company
  27. 27. Public Company
  28. 28. None of these
  29. 29. Fill in the Blanks:</li></ul>Minimum number of members in case of public company is __7_____________.<br />Minimum no. of Directors in case of a public company is _____3_____<br />Age limit of Directors in case of private company is _______35__<br />A company is named as govt. company if it is holds more than___51______% of paid up share capital<br />_________memorandum of association_______ the charter of a company.<br />The companies which are formed under special Act are called _______statutory companies_________.<br />______promissory note________ is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking signed by the maker to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument.<br />___asymmetric crypto system________________ means a system of a secure key pair consisting of a private key for creating a digital signature and a public key to verify the digital signature.<br />A __condition____________ is a stipulation essential to the main purpose of the contract.<br />____PIO_______ are officers designated by the public authorities in all administrative units or offices under it to provide information to the citizens requesting for information under the RTI Act, 2005.<br />Each Question carries two-marks<br />What is the time-limit for getting the information under the RTI Act, 2005?<br />30 DAYS GENERALLY, 48 HOURS IN CASE OF LIFE N LIBERTY CASES, <br />What are the duties of the subscribers under the Information Technology Act, 2000?<br />GENERATING KEY PAIR, ACCEPTANCE OF DIGITAL SIGNATURE CERTIFICATE & CONTROL OF PVT. KEY<br />Explain ‘Doctrine of Caveat Emptor’.<br />LET THE BUYER BEWARE<br />What is the composition of ‘Competition Commission of India’?<br />Define ‘Factory’ as per Factories Act, 1948.<br />Each Question carries five marks<br />Elaborate on the ‘Rights of An Unpaid-Seller’.<br />What is a negotiable instrument? Explain its special characteristics.<br />What is meant by crossing of a cheque? What are the different types of crossing?<br />Define a Contract of Sale. Differentiate Sale and Agreement to Sell.<br />Each Question carries ten marks:<br />Define a company. Elaborate on the various kinds of Companies.<br />Define ‘Winding up of a Company’. Explain the different modes of winding up.<br /><ul><li>Read the following Case-Study and Answer the Questions that follow:
  30. 30. Mr. Kailash, being an unemployed youth holding a Route Permit of Autorickshaw, purchased one Diesel Vikram (3-wheeler Model and colour 410 D/Auto/Yellow & Black) from the dealer, M/s Manik Motors as per Invoice for Rs. 1,01,000/- (payment by cash of Rs. 21,000/- and by DD of Rs. 80,000/- taken as loan from the Co-operative Agricultural Rural Development Bank, Aliporeduar). But within 15 days from the date of purchase, the engine plate of the Autorickshaw broke down, lube oil leaked with excess consumption and the engine got heated and the problem over starting of the vehicle developed. The Complainant at once informed the dealer over telephone of such problems arising in the vehicle but the dealer did not take any step. The Complainant suffered financial loss and various hazards as a result. Hence, he brought his complaint before the Consumer Forum praying for an order for refund of consideration money with interest and compensation for a sum of Rs. 2,09,000/- and cost of litigation of Rs. 2,000/-.
  31. 31. The first contention of the dealer is that under the terms of the Warranty that was valid for 6 months, if the purchaser does not avail himself of the benefit of free service once every month during this period of six months, then he will be deprived of getting any benefit of this warranty and, therefore, the contention of the Complainant that the vehicle developed defects during the period of warranty is of no avail.
  32. 32. Since, the distance between the place of the Complainant and the place where the Service Centre of the dealer was situated was extremely long being 360 km, it was not possible for the Complainant to come to such a distant place every month with his defective vehicle for obvious reasons, as such an exercise would involve not only excessive cost but also a good number of hazards of different kinds, for example, either it would have to be carried in a truck on payment of substantial amount of hiring charges or it would have to be carried along such a route manually by means of pulling and pushing over the road. Further, the dealer gave an assurance to the Complainant at the time of the purchase of the vehicle that a service centre would be set up at Aliporeduar to enable the purchasers like the Complainant to have servicing of their vehicles done easily and conveniently, but the dealer did not care to keep its words and the Complainant thereby had rightly and justifiably taken the plea that on the basis of such assurance being given by the dealer, he purchased the Autorickshaw and the assurance having not been fulfilled, it is the dealer who is at fault and not the Complainant for such violation of the term of warranty.
  33. 33. Discuss whether Mr. Kailash is a consumer as defined in the Consumer Protection Act, 1986.
  34. 34. Advice Mr. Kailash on the ‘Dispute Redressal Forum’ that should be approached by him.
  35. 35. Discuss if there is a deficiency in service on part of the dealer as per the CPA, 1986
  36. 36. Decide the case based on your knowledge of the Consumer Protection Act, 1986.
  37. 37. 5+5+10+10=30