North Campus

Midterm Exam (Hourly-I) Spring - 2021

Subject: Business Law and Taxation Submission Day/Date: Monday/ 3-6

Instructor: M. Mohsin Naeem Submission Duration: 3 Hours
Program: BBA Max. Marks: 12.5

Department of Business Administration

Please follow the instructions carefully:

1. Write your answers in a Word file and upload the file before the due time on BlackBoard.

2. Write your name and registration ID on the first page of your Word file.

3. Answer scripts can be uploaded on BlackBoard within or before its deadline.

Therefore, do not wait for the last hour to avoid any unforeseen problems.

4. Submission of answer copy(ies) will be considered acceptable through BlackBoard

only. Therefore, do not submit your document through email or any other medium.

5. Use 12 pt. font size and Times New Roman font style along with 1-inch page margins.

6. Follow the requirements of the word limit and the marking criteria while writing your
answers.

7. Provide relevant, original and conceptual answers, as this exam aims to test your ability to
examine, explain, modify or develop concepts discussed in class.

8. Do not copy answers from the internet or other sources. The plagiarism of your answers
may be checked through Turnitin.

9. Recheck your answers before the submission on BlackBoard to correct any content or
language related errors.

10. Double check your word file before uploading it on BlackBoard to ensure that you have
uploaded the correct file with your answers.
Ali is the manager of a well reputed organization. He is assigned to auction some assets of the firm.
Instead of organizing an auction Ali compiles a list of items and puts an advertisement on the paper
stating that anyone who is willing to purchase the said articles for Rs. 1 Lac can contact him directly by
15th April 2021.
Ahmed saw the advertisement and emailed Ali on 12th April asking for pictures of the items or if it was
possible for him to view the items. Ali provided the pictures. Ahmed then emailed Ali that he is willing to
purchase the said articles for Rs. 90 thousand and wrote that if Ali did not reply he will assume that Ali
has accepted the offer.
On 14th April at 3 pm, Saad emailed Ali and said the following, “I will purchase the listed articles.”
On 14th April at 4:30 pm, Khan called Ali and brokered a deal to purchase the articles.

Answer the following questions. Each question carries 2.5 marks

1. What kind of offer did Ali made? What were the terms of offer
2. What do you understand by counter offer? Who made the counter offer and what were the
terms
3. Ali sold the articles to Khan. Was Khan’s acceptance valid? What are the concerns
4. Advise Saad if he can purse Ali to obtain the articles
5. Ahmed now claims that he has a right to claim the articles based on the email. Advise him.