1.

The fundamental attribute of corporate personality is that company is a legal entity distinct from the members.Elucidate the statement .Also specify the important features of a company. Discuss the essential elements of a valid contract. Explain - different modes of crossing of a cheque and section 138 as per the provisions of the Negotiable Instrument Act, 1881. What are the characteristics of negotiable Instrument? Discuss the privileges of holder in due course as per the provisions of the Negotiable Instruments Act, 1881? Also state the important amendment to be incorporated under sec 138 of the act. Elaborately explain the essential features of the consumer protection act 1986. Also briefly discuss unfair trade practice and restrictive trade practice as discussed under consumer protection Act? Write short notes on any three of the following. (a) A stranger to the consideration can enforce the contract. Explain the exceptions in the following.

2. 3. 4.

5.

6.

i-

Supervening Impossibility iiNovation

(b)Anticipatory breach of Contract (c) A private company has only 2 shareholders who are also the directors with equal rights of management and voting power. The company has made large profits, but there is a complete deadlock in the management of the company. One of the shareholders applied for the winding up of the company. Decide at what moment does a winding up by the court commence? (d) What is a Prospectus? Is it obligatory for a company to file a prospectus or a statement in lieu of prospectus with the Registrar of Companies? (e) What is meant by the rule of Caveat Emptor and what are its exceptions?

7. 8.

A company is a legal person distinct from its members taken individually or collectively. Comment. Also detail the important features of a company. Discuss consumer dispute redressal forums & consumer councils with respect to its pecuniary (Financial) jurisdictions?

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