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    Default CS Foundation :Elements Of Business Law And Management- Dec 2007 Paper


    0 Not allowed! Not allowed!
    Roll No………
    Time allowed : 3 hours Maximum marks : 100
    Total number of questions : 8 Total number of printed pages : 3
    PART — A
    (Answer Question No.1 which is compulsory and any two of the rest from this part.)
    1. (a) State, with reasons in brief, whether the following statements are correct or incorrect :
    (i) A specific guarantee once given is irrevocable. (0)
    (ii) Future goods can be the subject matter of a ‘sale’. (0)
    (iii) Sharing of losses is an essential element of the existence of partnership. (0)
    (iv) Cheques are always payable on demand. (0)
    (v) A company is an incorporated individual having a separate legal entity. (0)
    (2 marks each)
    (b) Attempt any two of the following :
    (i) “No seller can give to the buyer a better title to the goods than what he himself has.” Comment. (0)
    (ii) Explain the legal position of a minor under the Indian Contract Act, 1872 for necessaries supplied to him. (0)
    (iii) Anubhav, an author, enters into a contract with Balwant, a publisher, for writing a book for him. But, subsequently Anubhav refuses to write the book for Balwant. Now, Balwant files a suit against Anubhav for specific performance of the contract. Will Balwant succeed ? Give reasons. (0)
    (iv) Amit promises to procure an employment for Bimal in a government department and Bimal promises to pay Rs.5,000 to Amit for the same. Amit gets the said job for Bimal. However, Bimal refuses to pay the promised money to Amit who files a suit in the court of law to recover Rs.5,000 from Bimal. Will Amit succeed ? Give reasons. (0)
    (5 marks each)
    2. (a) Distinguish between ‘sale’ and ‘an agreement to sell’ under the Sale of Goods Act, 1930. (0)
    (b) Discuss briefly whether an agreement by way of wager is a voidable contract. (0)
    (c) Define ‘negotiable instrument’. Distinguish between a ‘bill of exchange’ and ‘cheque’. (0)
    (5 marks each)
    3. (a) Distinguish between ‘dissolution of partnership’ and ‘dissolution of partnership firm’. (0)
    (5 marks)
    (b) Explain the provisions of the Companies Act, 1956 with regard to the following : (i) Period within which the first and the subsequent annual general meeting must be held; and
    (ii) Business which may be transacted at an annual general meeting.
    (0)
    (5 marks)
    (c) Who is an ‘unpaid seller’ ? State the rights of an unpaid seller. (0)
    (5 marks)
    4. (a) “Risk passes with property.” Comment. (0)
    (5 marks)
    (b) Aslam is the payee of an order cheque. Bahadur steals the cheque and forges Aslam’s signature and endorses the cheque in his (Bahadur’s ) favour. Bahadur then endorses it to Champak who takes it in good faith and for valuable consideration. Is Champak a holder in due course ? Give reasons. (0)
    (5 marks)
    (c) Manjeet and Navneet are working under a trade partnership. They execute a deed declaring that the partnership is dissolved from 10th of December. However, a public notice of dissolution is not given. They continued the business. In January, Manjeet endorses a bill of exchange in the firm’s name to Umesh who is not aware of the dissolution. Is the firm liable on the bill ? Give reasons. (0)
    (5 marks)



    PART—B
    (Answer Question No.5 which is compulsory and any two of the rest from this part.)
    5. (a) State, with reasons in brief, whether the following statements are correct or incorrect. Attempt any five :
    (i) Human skills are required at all levels of management. (0)
    (ii) Coordination is not a function of management. (0)
    (iii) Communication is transmission of understanding. (0)
    (iv) An effective leader is one who is able to force his will on his subordinates. (0)
    (v) Planning is a secondary function of management. (0)
    (vi) Recruitment involves rejection of some candidates and is described as a negative process. (0)
    (vii) No manager can be successful without understanding employees’ motivation. (0)
    (2 marks each)
    (b) Write notes on any two of the following :
    (i) Matrix organisation (0)
    (ii) Characteristics of organisation development. (0)
    (iii) Limits of authority (0)
    (iv) Policies and procedures. (0)
    (5 marks each)
    6. (a) “Controls must aim at performance and not at persons.” Comment. (0)
    (5 marks)
    (b) Distinguish between ‘delegation of authority’ and ‘decentralisation’. (0)
    (5 marks)
    (c) Explain basic approaches followed by managers for the direction of subordinates. (0)
    (5 marks)
    7. (a) “Management is both a science and an art.” Explain the statement with suitable examples. (0)
    (8 marks)
    (b) A successful chief executive claims that ‘his doors are always open’ and that he will always meet any employee whosoever wants to see him. Discuss this attitude and some of its important consequences. (0)
    (7 marks)
    8. (a) Explain the principal barriers to communication. How can these barriers be overcome ? (0)
    (8 marks)
    (b) What is meant by change ? Discuss important reasons of resistance to change. (0)
    (7 marks)

 

 

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