SECTION A BUSINESS LAWS UNIT 1 INDIAN CONTRACT ACT, 1872 CHAPTER 1 NATURE OF CONTRACT 1.5 CHAPTER 2 OFFER & ACCEPTANCE 2.1 CHAPTER 3 CAPACITY TO CONTRACT 3.1 CHAPTER 4 CONSIDERATION 4.1 CHAPTER 5 FREE CONSENT 5.1 CHAPTER 6 LEGALITY OF OBJECT & CONSIDERATION 6.1 CHAPTER 7 VOID AGREEMENTS 7.1 CHAPTER 8 CONTINGENT & QUASI CONTRACTS 8.1 Note to Students I-5 Chapter-wise Marks Distribution of Previous Examinations (New Syllabus) I 7 I-9 CONTENTS
I-10 CHAPTER 9 PERFORMANCE OF A CONTRACT 9.1 CHAPTER 10 DISCHARGE OF A CONTRACT 10.1 UNIT 2 SALE OF GOODS ACT, 1930 CHAPTER 11 FORMATION OF THE CONTRACT OF SALE 11.3 CHAPTER 12 CONDITIONS & WARRANTIES 12.1 CHAPTER 13 TRANSFER OF OWNERSHIP 13.1 CHAPTER 14 UNPAID SELLER 14.1 UNIT 3 INDIAN PARTNERSHIP ACT, 1932 CHAPTER 15 GENERAL NATURE OF A PARTNERSHIP 15.3 CHAPTER 16 RELATIONS OF PARTNERS 16.1 CHAPTER 17 REGISTRATION OF A FIRM & DISSOLUTION OF A FIRM 17.1 UNIT 4 LIMITED LIABILITY PARTNERSHIP ACT, 2008 CHAPTER 18 LIMITED LIABILITY PARTNERSHIP ACT, 2008 18.3
I-11 UNIT 5 COMPANIES ACT, 2013 CHAPTER 19 COMPANIES ACT, 2013 19.3 SECTION B BUSINESS CORRESPONDENCE & REPORTING UNIT 1 COMMUNICATION CHAPTER 20 COMMUNICATION 20.5 UNIT 2 SENTENCE TYPES & WORD POWER CHAPTER 21 SENTENCE TYPES 21.3 CHAPTER 22 VOCABULARY 22.1 CHAPTER 23 COMPREHENSION PASSAGES 23.1 CHAPTER 24 NOTE MAKING 24.1 CHAPTER 25 PRECIS WRITING 25.1 CHAPTER 26 ARTICLE WRITING 26.1 CHAPTER 27 REPORT WRITING 27.1 CHAPTER 28 LETTER WRITING 28.1
I-12 CHAPTER 29 E-MAIL WRITING 29.1 CHAPTER 30 RESUME WRITING 30.1 CHAPTER 31 BUSINESS MEETINGS 31.1 SOLVED PAPER: DECEMBER 2021 P.1 SOLVED PAPER: JUNE 2022 P.19
2.1 LONG ANSWER QUESTIONS: Q.1 What is an offer? List the essentials of a valid offer. [RTP Nov. 2019] Ans. a ‘offeror’ ‘promisor’ ‘offeree’ ‘promisee’ 1. An offer may be express or implied. 2. An offer may be specific or general. 3. An offer must be made with a view to create legal relationship. 4. Offer must be distinguished from an invitation to offer. 5. An offer must be communicated to the offeree. 6. The terms of offer must be certain & may include an act or an abstinence 7. An offer may be conditional and all special terms & conditions must be communicated along with the offer. 8. An offer must not be “negative” in terms. An offer should not contain a term the non-compliance of which would amount to acceptance. 9. An intention to make an offer in the future does not result in an offer. Q.2 Define acceptance. What are the essentials of a valid[Jan.acceptance?2021,7Marks] Ans. b 1. Acceptance must be absolute and unqualified. 2. Acceptance must be given only by the person to whom the offer is made. 3. Acceptance may be expressed in words, spoken or written or may be given by conduct. OFFER & ACCEPTANCE CHAPTER 2
2.2 4. Acceptance must be expressed in the prescribed manner or when nothing is prescribed then in some usual and reasonable manner. 5. Acceptance must be communicated by the acceptor. 6. Acceptance must be given within a reasonable time and before the offer lapses and or is revoked. 7. Acceptance must succeed the offer. 8. Rejected offers can be accepted only, if renewed. 9. Generally acceptance cannot be presumed from silence. Q.3 Explain the modes of revocation of an offer as per the Indian Contract Act, 1872. Ans. i By notice : ii By Lapse of time : iii By failure to fulfil condition precedent : iv By death or insanity of offeror : v By counter offer : vi By death or insanity of the offeree : vii By destruction of subject matter :viii By change in law :ix By non-acceptance of the offer as per the prescribed mode :-
2.3 SHORT QUESTIONS: Q.4 Write a short note on: (a) Cross offer (b) Counter Offer (c) Invitation to make an Offer [RTP Nov. 2019] Ans. a Cross Offer :b Counter Offer:c Invitation to offer or invitation to treat:
2.4Q.5 What are the exceptional cases when silence may be regarded as an acceptance to an offer? Ans. iii Q.6 What are the rules for completion of communication of offer & acceptance by post? [RTP Nov. 2020] Ans. i As against the offeror ii As against the offeree: CASE STUDIES: Q.7 A shopkeeper exhibits an article in his shop window with a price tag attached to it. A customer offers to buy the article for the same price. Is the shopkeeper bound to part with the article receiving the price offered by the Ans.customer?Hint:
Ans. Hint:
iiiiiiiv
Q.8 A railway passenger receives a ticket on the face of which is printed ‘This ticket is issued subject to rules/regulations/conditions contained in the current timetable of the railways’. Comment on whether he is bound by these terms.
Ans. Hint: Q.9 State when the communication will be complete in the following cases:
Q.11 Ramaswami proposed to sell his house to Ramanathan. Ramanathan sent his acceptance by post. Next day, Ramanathan sends a telegram withdrawing his acceptance. Examine the validity of the acceptance in the light of the following:(
i) The telegram of revocation of acceptance was received by Ramaswami before the letter of acceptance.
(i) D proposes, by a letter, to sell his printing machine to E for ` 50,000. (ii) E accepts D’s proposal. (iii) D revokes his proposal by a telegram. (iv) E revokes his acceptance by telegram
Ans. Hint: [Carlill v. Carbolic Smoke Ball Co.]
Q.10 “Good Girl” Soap Co. advertised that it would give a reward of ` 1,000 who developed skin disease after using, “Good Girl” soap of the company for a certain period according to the printed directions. Miss Rakhi purchased the advertised “Good Girl” and developed skin disease in spite of using this soap according to the printed instructions. She claimed reward of ` 1,000. The company refused the reward on the ground that offer was not made to her and that in any case she had not communicated her acceptance of the offer. Decide whether Miss Rakhi can claim the reward or not. Refer the relevant case law, if any.
2.5
Ans.Q.13
2.6(ii)
Shambhu Dayal started “Self service” system in his shop. Smt. Prakash entered the shop, took a basket and after taking articles of her choice into the basket reached the cashier for payments. The cashier refuses to accept the price. Can Shambhu Dayal be compelled to sell the said articles to Smt. Prakash? Decide as per the provisions of the Indian Contract Act, 1872. (MTP May 2019, MTP July 2021)
The telegram of revocation and letter of acceptance both reached together. Hint:
(i) (ii Q.12)
Ans.
A shop-keeper displayed a pair of dress in the show-room and a price tag of ` 2,000 was attached to the dress. Ms. Lovely, looked at the tag and rushed to the cash counter. Then she asked the shop-keeper to receive the payment and pack up the dress. The shop-keeper refused to hand-over the dress to Ms. Lovely in consideration of the price stated in the price tag attached to the dress. Ms. Lovely seeks your advice whether she can sue the shop-keeper for the above cause under the Indian Contract Act, 1872. [Nov. 18, 3 Marks]
Q.15Hint:Xpurchased
“We agree to buy Bumper Hall Penn at the price of ` 50,000 asked by you. Send the title deeds. “Comment on the validity of contract created between H & K. Ans.
2.7 Ans.
a steamer ticket for travelling from Dublin to Whitehaven. Terms & conditions were printed on the back of the ticket. One of the conditions prescribed that the shipping company shall not be liable in the event of loss, injury or delay to the passengers or their luggage. X did not see the back of the ticket and there was no instruction on the face of the ticket to see the back for the terms & conditions. During the journey X’s luggage is lost due to negligence of the staff on board. X claims loss from the shipping company which denies its liability on the grounds that the company has expressly excluded its liability at the time of formation of contract comment whether the shipping company’s stand is tenable in the context of provisions of the Indian Contract Act, 1872. Ans.
Q.14HintHsent
a telegram to K asking - “Will you sell us Bumper Hall Penn? Telegraph the lowest cash price.” K replied through a telegram. “The lowest cash price for Bumper Hall Penn is ` 50,000.” H replies through a telegram.
A sends an offer to B to sell his second-car for Rs. 1,40,000 with a condition that if B does not reply within a week, he (A) shall treat the offer as accepted. Is A correct in his proposition? What shall be the position if B communicates his acceptance after one week? (RTP Nov. 2019)
2.8Q.16
Ans.Q.17
B sent a draft agreement relating to supply of coal and coke to Manager of a Railway Company for his acceptance. The Manager wrote “approved” on the same and put the draft in his table drawer, intending to sent it to the company’s solicitors for a formal contract to be drawn up. By oversight, the draft agreement remained in the drawer. Comment on the validity of the contract in the light of the Indian Contract Act, 1872. Ans. i.e.
2.9 Q. 18. Mr. B makes a proposal to Mr. S by post to sell his house for ` 10 lakhs and posted the letter on 10th April 2020 and the letter reaches to Mr. S on 12th April 2020. He reads the letter on 13th April 2020. Mr. S sends his letter of acceptance on 16th April 2020 and the letter reaches Mr. B on 20th April 2020. On 17th April Mr. S changed his mind and sends a telegram withdrawing his acceptance. Telegram reaches to Mr. B on 19th April 2020. Examine with reference to the Indian Contract Act, 1872 : (i) On which date, the offer made by Mr. B will complete ? (ii) Discuss the validity of acceptance. (iii) What would be validity of acceptance if letter of revocation and letter of acceptance reached together ? [Jan. 2021, 6 Marks] Ans. (i) i.e. (ii) i.e.
(2.10 iii)
Rs. : 450 | USD : 37 AUTHOR : S.K. Agrawal , Manmeet Kaur PUBLISHER : TAXMANN DATE OF PUBLICATION : July 2022 EDITION : 6th Edition ISBN NO : 9789356223158 NO. OF PAGES : 404 BINDING TYPE : PAPERBACK Business Laws & Business Correspondence and Reporting (Law & BCR | BLBCR) | CRACKER ORDER NOW Description This book is prepared exclusively for the Foundation Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI. The Present Publication is the 6th Edition & updated till 30th April 2022 for CA-Foundation | New Syllabus | Dec.2022/June 2023 exams. This book is authored by Dr. S.K. Agrawal & CA Manmeet Kaur, with the following noteworthy features: · As per the latest syllabus of ICAI · Coverage of this book includes: All Past Exam Questions CA Foundation Solved Paper – December 2021 CA Foundation Solved Paper – June 2022 Theoretical Questions Short Notes Case PracticeStudiesQuestions in Business Correspondence & Reporting [Most Amended & Updated] This book covers all the latest applicable amendments · [Marks Distribution] Chapter-wise marks distribution from May 2018 onwards
