ICAB Business & Commercial Law Question Analysis Knowledge Level from June 2010 to Dec 2015

ICAB Business & Commercial Law Question Analysis Knowledge Level from June 2010 to Dec 2015

1. Contract formation

1. Distinguish between executed and executor consideration. (June-10)(Marks-4)(Page-)
2. What are the various ways through which a contract is discharged? (June-10)(Marks-4)(Page-)
3. Match the terms to its definition: (June-10)(Marks-4)(Page-)

   (a) Voidable	(i) The contract is valid but the parties cannot be held to its terms
   (b) Unenforceable	(ii) Neither party is bound
   (c) Void	(iii) The contract is binding unless and until one party chooses to avoid it.

4. What are the 4 methods of termination of offer? (June-10)(Marks-4)(Page-)
5. How a proposal would transform into a contract. (June-10)(Marks-4)(Page-)
6. What are the 4 essentials of a proposal? (June-10)(Marks-4)(Page-)
7. What is a contract and name 3 essential elements of a Contract? (June-10)(Marks-4)(Page-)
8. What is a counter offer? (June-10)(Marks-4)(Page-)
9. “All contracts are agreements but all agreements are not contracts” – explain. (Dec-10) (Marks-6)(Page-)
10. “A contract caused by mistake is void.” – explain (Dec-10)(Marks-5)(Page-)
11. “An invitation to offer is not an offer” – elucidate the statement with examples. (Dec-10)(Marks-6)(Page-)
12. Distinct between void and voidable contracts. (June-11)(Marks-4)(Page-)
13. Which contracts are declared void by the law? (June-11)(Marks-6)(Page-)
14. What is consideration of a contract? (June-11)(Marks-3)(Page-)
15. When an agreement is valid without consideration? (June-11)(Marks-7)(Page-)
16. Distinguish between contract and agreement. What are the essential elements for a contract to be valid in the eye of law? (Dec-11)(Marks-8+3)(Page-)
17. What is an ‘offer’ according to the Contract Act 1872? How an offer is revoked? (Dec-11)(Marks-2+4)(Page-)
18. Distinguish between executed and executory contracts. (Dec-11)(Marks-4)(Page-)
19. Distinguish between void and voidable contract (June-12)(Marks-6)(Page-)
20. What are the essential elements of a valid contract? (June-12)(Marks-6)(Page-)
21. An agreement made without consideration is void. Discuss. (June-12)(Marks-6)(Page-)
22. “An Agreement enforceable by law is a contract”— explain. (Dec-12)(Marks-7)(Page-)
23. What do you understand by capacity of parties? Is it essential for a valid contract? (Dec-12)(Marks-5)(Page-)
24. What is an offer & acceptance? When will an acceptance be valid? (Dec-12)(Marks-6)(Page-)
25. An agreement without consideration is void. But there are certain exceptions to this. (June-2013)(Marks-5)(Page-)
26. What are those exceptions? (June-2013)(Marks-5)(Page-)
27. What are the differences between Void Contract and Voidable Contract? (June-2013)(Marks-5)(Page-)
28. Describe the cases when consideration or object of a contract becomes unlawful. (June-2013)(Marks-10)(Page-)
29. “All contracts are agreements but all agreements are not contracts”: ‐ explain. (Dec-13)(Marks-8)(Page-)
30. Explain the term “sound mind” in the law of contract? (Dec-13)(Marks-7)(Page-)
31. What are the differences between Contingent Contract and Quasi Contract? (Dec-13)(Marks-6)(Page-)
32. “An agreement enforceable by law is a contract” – explain. (June-14)(Marks-7)(Page-)
33. Explain under what circumstances a valid contract becomes a void contract? (June-14)(Marks-6)(Page-)
34. Define proposal and mention its elements. How can a proposal be revoked? (June-14)(Marks-10)(Page-)
35. What are the essential elements of a valid contract? (Dec-14)(Marks-8)
36. Case (Dec-14)(Marks-5)
37. When does an offer lapse as per provisions of Law of Contract? (Dec-14)(Marks-8)
38. Case (Dec-14)(Marks-4)
39. What do you understand by the doctrine of Privity of Contract? Distinguish between contract and agreement. (June-15)(Marks-2+7)(Page-)
40. Describe the situations when an agreement becomes enforceable. (June-15)(Marks-4)(Page-)
41. Describe the circumstances when proposal revoked. (June-15)(Marks-7)(Page-)
42. Case (June-15)(Marks-3)(Page-)
43. Case (June-15)(Marks-6)(Page-)
44. Case (June-15)(Marks-4)(Page-)
45. What is a valid contract? Write the essential elements of a valid contract? (Dec-15)(Marks-3+4)
46. Case(Dec-15)(Marks-4)
47. Describe the situations when consideration or object of a contract becomes unlawful. (Dec-15)(Marks-8)
48. Distinguish between Void Contract and Voidable Contract. In which cases a contract can be void? (Dec-15)(Marks-6)
49. Case(Dec-15)(Marks-4)

2. Termination of contract

1. Point out the various modes by which an agency may be terminated.
2. State various remedies available to the aggrieved party for a breach of contract. (June-2013)(Marks-10)(Page-)
3. Describe the contracts which are not required to be performed. (June-2013)(Marks-5)(Page-)

3. Agency

1. Identify the four ways in which an agency can arise. (June-10)(Marks-4)(Page-)
2. Distinguish between Indemnity and Guarantee. (June-10)(Marks-4)(Page-)
3. Write down 4 rights of a bailee. (June-10)(Marks-4)(Page-)
4. Mention 4 duties of Agent to Principal. (June-10)(Marks-4)(Page-)
5. Define bailment and point out its essential elements. (June-11)(Marks-2+8)(Page-)
6. What is ‘Bailment without Reward’? State the rights of a bailee. (Dec-11)(Marks-2+6)(Page-)
7. How an agency is created? (Dec-11)(Marks-5)(Page-)
8. What are the rights of a commercial agent against his principal? (Dec-11)(Marks-4)(Page-)
9. Who may employ an Agent? Who may be an Agent? (June-12)(Marks-6)(Page-)
10. Describe briefly the various modes by which an agency may be terminated? (June-12)(Marks-8)(Page-)
11. Define and distinguish between indemnity and guarantee. (Dec-12)(Marks-10)(Page-)
12. What is bailment? Classify Bailment. (Dec-12)(Marks-5)(Page-)
13. Identify the four ways in which an agency can arise. (Dec-12)(Marks-5)(Page-)
14. Describe the ways how an agency may be terminated. (June-2013)(Marks-5)(Page-)
15. What is agency by ratification? What are the requisites of a valid ratification? (Dec-13)(Marks-8)(Page-)
16. Discuss in brief how an agency may be terminated by operation of law? (Dec-13)(Marks-7)(Page-)
17. Define Bailment? What are the rights of a Bailee? (Dec-13)(Marks-7)(Page-)
18. Who is mercantile agent? Explain various kinds of mercantile agent. (June-14)(Marks-7)(Page-)
19. Define and distinguish between indemnity and guarantee. (June-14)(Marks-7)(Page-)
20. Distinguish between Indemnity and Guarantee. (Dec-14)(Marks-6)(Page)
21. Describe the responsibilities of the principal and the agent when the relationship is based on commercial activities. (Dec-14)(Marks-8)(Page)
22. Define condition and warranty under a contract of sale of goods. (Dec-14)(Marks-4)(Page)
23. Explain the consequences of breach of condition and warranty. (Dec-14)(Marks-6)(Page)

50. What are the remedies for breach of contract? Write the rights of a bailor and bailee under the contract Act?(Dec-15)(Marks3+4)

4. Sale of Goods

1. What are the rights of an unpaid seller of goods under the Sales of Goods Act 1930? (June-10)(Marks-4)(Page-)
2. Distinguish between a contract of a sale and agreement to sell? (June-10)(Marks-4)(Page-)
3. Explain the rule of Caveat Emptor. (Dec-10)(Marks-5)(Page-)
4. “No one can give better title to the goods than he has himself” – Discuss the exceptions. (Dec-10)(Marks-8)(Page-)
5. Define contract of sale of goods. Mention the essentials of a contract of sale. (Dec-10)(Marks-2+5)(Page-)
6. Define and distinguish condition and warranties. (Dec-10)(Marks-2+5)(Page-)
7. Who is unpaid seller and what are his rights under the Sale of Goods Act 1930? (June-11)(Marks-3+5)(Page-)
8. What is unpaid seller’s lien and how is the unpaid seller’s lien terminated? (June-11)(Marks-3+5)(Page-)
9. Define the term ‘sale’ and ‘agreement to sell’ and distinguish between these two. (Dec-11)(Marks-6)(Page-)
10. What are the consequences of breach of condition and warranty? (Dec-11)(Marks-5+2)(Page-)
11. When the property in goods passes from the seller to the buyer? (Dec-11)(Marks-9)(Page-)
12. Define sale and agreement to sale. How is a contract of sale made? (June-12)(Marks-8)(Page-)
13. Explain implied conditions and warranties in contracts for sale of goods. (Dec-12)(Marks-10)(Page-)
14. Who is unpaid seller? Point out the rights of unpaid seller. (Dec-12)(Marks-6)(Page-)
15. How is a contract of sale made? Present the basic distinction between sales & an agreement to sell. (Dec-12)(Marks-10)(Page-)
16. What are the implied conditions by operation of law in contracts for the Sale of Goods? (June-2013)(Marks-7)(Page-)
17. Describe the general rules as to delivery of goods in accordance with The Sale of Goods Act 1930. (June-2013)(Marks-8)(Page-)
18. Define contract of sale of goods. Mention the essentials of a contract of sale. (Dec-13)(Marks-8)(Page-)
19. Explain the rights of an unpaid seller against the buyer. (Dec-13)(Marks-7)(Page-)
20. What do you understand by the doctrine of Caveat Emptor? What are the exceptions to this doctrine? (June-14)(Marks-8)(Page-)
21. Distinguish between sale and agreement to sell. (June-14)(Marks-7)(Page-)
22. What are the implied conditions by operation of law in case of contract for the Sale of Goods? (June-14)(Marks-8)(Page-)
23. Write short notes on: (June-15)(Marks-3*3=9)(Page-)

1. Implied terms of contract.
2. Caveat Emptor Rule
3. Promissory Notes.

24. Describe the general rules as to delivery of goods in accordance with The Sale of Goods Act, 1930. (June-15)(Marks-10)(Page-)
25. What is meant by Stipulation in a sale of Goods contract? Define Warranty?(Dec-15)(Marks-2+2)
26. What is an unpaid seller’s lien? Mention the different circumstances when a seller is entitled to the lien? How is the unpaid seller’s lien terminated?(Dec-15)(Marks-7)

5. Partnership

1. Write down 4 rights of Partners. (June-10)(Marks-4)(Page-)
2. What are the essential elements of partnership? (June-10)(Marks-4)(Page-)
3. What are the grounds of dissolution of a Partnership firm? (Dec-10)(Marks-8)(Page-)
4. Can a minor be admitted to a partnership? If yes, then under what conditions? (Dec-10)(Marks-7)(Page-)
5. State different types of partnership. (June-11)(Marks-6)(Page-)
6. What is a partnership deed? State its main contents. (June-11)(Marks-3+7)(Page-)
7. Write down the rights and duties of a partner in a partnership firm. (Dec-11)(Marks-5+5)(Page-)
8. Identify five differences between incorporated companies and ordinary partnership. (June-12)(Marks-6)(Page-)
9. How does dissolution of a firm take place without order of the court? (June-12)(Marks-8)(Page-)
10. What are the rules for a minor in a firm to become a partner? Discuss their rights and liabilities under partnership Act, 1932. (June-12)(Marks-10)(Page-)
11. What is partnership? Discuss in short the different classes of partnership. (Dec-12)(Marks-3+5)(Page-)
12. Point out the main contents of a partnership deed. (June-2013)(Marks-5)(Page-)
13. Describe the rules regarding rights of an outgoing Partner to carry on competing business. (June-2013)(Marks-5)(Page-)
14. What are the rules for a minor to become a partner in a firm? Discuss the rights and responsibilities of a minor becoming a partner of a firm under Partnership Act, 1932. (June-2013)(Marks-5)(Page-)
15. Describe the consequences in case of non‐registration of a Partnership Firm. (Dec-13)(Marks-6)(Page-)
16. When and how may a partner retire? What restrictions are imposed on a retiring partner? (June-14)(Marks-8)(Page-)
17. What is partnership deed? (Dec-14)(Marks-3)(Page)
18. States its main contents.(Dec-14)(Marks-7)(Page)
19. Case(Dec-14)(Marks-9)(Page) Question-9
20. What are the differences between Partnership and Co-Ownership. (June-15)(Marks-10)(Page-)
21. Can a minor be a partner in a firm? State his rights and liabilities on attaining majority if he (a) elects become a partner (b) does not elect to become a partner(June-15)(Marks-10)(Page-)
22. Loss arising out of partner’s Insolvency can be recouped from whom? What happens to the Authority of a partner to bind a firm after the dissolution of a firm.(Dec-15)(Marks3+4)
23. What was the decision in Garner Vs Murray case? (Dec-15)(Marks-4)
24. Case(Dec-15)(Marks-4)

6. Negotiable Instruments Act

1. What are 3 prime features of Negotiable Instruments? (June-10)(Marks-4)(Page-)
2. Who may accept a bill of exchange? (June-10)(Marks-4)(Page-)
3. What punishments the court may award to the drawer for dishonor of a cheque? (June-10)(Marks-4)(Page-)
4. Define Negotiable Instrument with 2 conditions to satisfy. (June-10)(Marks-4)(Page-)
5. What are the essential requisites of a Promissory Note? (June-10)(Marks-4)(Page-)
6. Define and distinguish between a cheque and bill of exchange. (Dec-10)(Marks-3+4)(Page-)
7. What is crossing a cheque? What are the various types of crossing? (June-11)(Marks-2+7)(Page-)
8. What is ‘Acceptance for Honour’? (June-11)(Marks-5)(Page-)
9. What is ‘Bill of Exchange? What are the essentials of a bill of exchange? (Dec-11)(Marks-2+8)(Page-)
10. What is presentment? When is the presentment for acceptance of a bill excused? (Dec-11)(Marks-2+4)(Page-)
11. Distinguish between a bill of exchange and a promissory note. (June-12)(Marks-8)(Page-)
12. When must a banker dishonor a customer’s cheque? (June-12)(Marks-7)(Page-)
13. Distinguish between check and bill of exchange. What do you understand by ‘Holder in due course’? (Dec-12)(Marks-10)(Page-)
14. How a negotiable instrument may be dishonored? What are the duties of a holder of dishonored bill? (June-2013)(Marks-10)(Page-)
15. What are the essential requisites of a Promissory Note? (Dec-13)(Marks-5)(Page-)
16. What are the distinctions between Cheques and Bills of Exchange? (Dec-13)(Marks-5)(Page-)
17. Discuss the rules regarding negotiation of a lost instrument and an instrument obtained by fraud. (June-14)(Marks-8)(Page-)
18. What is `crossing a cheque’? Discuss various types of crossing? (June-14)(Marks-8)(Page-)
19. What are the essential requisites of a Promissory Note? (Dec-14)(Marks-5)(Page-)
20. Explain the circumstances when a banker must refuse payment of his customer’s cheque? (Dec-14)(Marks-10)(Page-)
21. Discuss the rules regarding negotiation of a lost instrument and an instrument obtained by fraud. (June-15)(Marks-10)(Page-)
22. Explain the meaning of Negotiable Instruments.(Dec-15)(Marks-4)
23. Case(Dec-15)(Marks-4)

7. Bankruptcy law

1. Who are eligible creditors under Bankruptcy Act 1997? (June-10)(Marks-4)(Page-)
2. What is order of adjudication? What are the effects of adjudication under the Bankruptcy Act, 1997? (Dec-10)(Marks-3+4)(Page-)
3. State the disqualifications of an undercharged bankrupt. Which properties are ‘exempted property’ under the Bankruptcy Act, 1997? (Dec-10)(Marks-4+4)(Page-)
4. Point out the disqualifications of an undercharged bankrupt. (June-11)(Marks-5)(Page-)
5. Which acts of a debtor cause him to be a bankrupt? (Dec-11)(Marks-8)(Page-)
6. Explain the object of the law of bankruptcy? (June-12)(Marks-3)(Page-)
7. Against whom bankruptcy proceedings may be and may not be initiated? (June-12)(Marks-7) (Page-)
8. Which acts are considered as act of bankruptcy? Against whom can a bankruptcy proceeding be initiated? (Dec-12)(Marks-6+4)(Page-)
9. Point out the conditions for filing plaint by creditors and debtors. (June-2013)(Marks-10)(Page-)
10. Describe the cases which are considered as “Acts of Bankruptcy”. (Dec-13)(Marks-10)(Page-)
11. What do you understand by “protected Transactions” in case of bankruptcy? (Dec-13)(Marks-6)(Page-)
12. Describe the properties which are exempted from the proceedings of Bankruptcy. (June-14)(Marks-8)(Page-)
13. Describe the cases which are considered as “Acts of Bankruptcy”. (Dec-14)(Marks-7)(Page-)
14. What do you understand by “protected Transactions” in case of bankruptcy? (June-15)(Marks-8)(Page-)
15. What do you understand by Bankruptcy? Write the purposes of the law of Bankrupptcy? Who may or may not be adjudged as Bankrupt? (Dec-15)(Marks-2+2+5)(Page-)

8. Arbitration Law

1. Name 3 matters that cannot be referred to Arbitration. (June-10)(Marks-4)(Page-)
2. What are the effects of an Arbitration Agreement? (June-10)(Marks-4)(Page-)
3. What is an arbitral award? Is it bindings on both parties? (June-10)(Marks-4)(Page-)
4. What are those matters cannot be referred to Arbitration? (Dec-10)(Marks-6)(Page-)
5. Define a promissory note. What are its essential elements? (June-11)(Marks-2+8)(Page-)
6. What do you mean by an ‘award’? What are the grounds on which the court can modify or correct an award? (June-11)(Marks-3+6)(Page-)
7. Point out the duties of an arbitrator. (Dec-11)(Marks-6)(Page-)
8. What is an Arbitration agreement? What are the essential elements of an Arbitration agreement? (June-12)(Marks-8) (Page-)
9. What are the modes of Arbitration? What do you mean by ‘remitting the award’? (Dec-12)(Marks-3+4)(Page-)
10. Who can refer dispute to arbitration? What matters can and what matters cannot be referred to arbitration? (June-2013)(Marks-10)(Page-)
11. What do you mean by an `award’? What are the grounds on which the court can modify or correct an award? (Dec-13)(Marks-10)(Page-)
12. State the rights and duties of Arbitrators. (June-14)(Marks-8)(Page-)
13. Who can refer dispute to arbitration? What matters can and what matters cannot be referred to arbitration? (Dec-14)(Marks-10)(Page-)
14. What is arbitration agreement? Describe the general responsibilities of the arbitral tribunal? (June-15)(Marks-10)(Page-)
15. What is arbitration? Are there any advantages of arbitration? Can you arbitrate a dispute when there is no arbitration clause in the relevant agreement? (Dec-15)(Marks-2+2+3)(Page-)
16. What is difference between arbitration and litigation? (Dec-15)(Marks-3)(Page-)

Others

1. What is pledge? State the rights and duties of Pawnee. (Dec-10)(Marks-2+5)(Page-)
2. What do you understand by ‘Nothing’? What is its content? (June-12)(Marks-6)(Page-)
3. Write short notes on: a) Continuing Guarantee b) Foreign Instruments c) Partnership Property (Dec-15)(Marks-3*3=9)