Topic of Business Law for Final Exam

Introduction
1. Definition of law, Rule of law, Sources of commercial law

Law of Contract
02 Q
1. Definition of contract, the essential elements of a contract and classification of contract.
2. Definition of offer and acceptance, rules regarding offer and acceptance and revocation of an
Offer.
3. Definition of consideration, types and rules of consideration, “no consideration no contract”
exceptions to the rule
4. Definition of void, voidable, unenforceable, and illegal agreement and their differences.
5. Capacity of parties, persons of unsound mind, Minor, Foreign sovereigns, Women.
6. Definition of Free consent, coercion, undue influence, misrepresentation, fraud, and
distinction between fraud and misrepresentation.
1/2 Q
7. Methods of termination or discharge of contract and remedies of breach of contract.

Law of Agency
1. Definition of agency, Power of Attorney, Agent and servant, different classes of agents,
1/2 Q
methods of creating agency. Agent’s and principal’s duty to each other. Termination of agency.

Sale of Goods act-1930

1. Sale and agreement to sale and their differences, the essential elements, the doctrine of caveat
1Q
emptor, Duties and rights of seller and buyer of goods, Transfer of ownership.
2. Hire-purchase agreement, Conditions, and warranties.

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 Negotiable Instrument Act
1. Negotiable Instruments, Characteristics of Negotiable Instruments, Types of Negotiable

01 Q Instruments, Promissory Note, Bill of Exchange, Cheque, mode of dishonor of a negotiable

instrument and its consequences.

Partnership Act
1.Chapter-1: Nature of partnership

1/2 Q

Company Law
1. Chapter-1: Introduction
2. Chapter-2: The Memorandum and Articles of Association
½Q
3. Chapter-3: The formation of a Company.

………………………….. GOOD LUCK ………………………

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