DCM 6105 BUSINESS AND ECONOMIC LAWS JULY-AUG 2025

Description

SESSION	JULY-AUG 2025
PROGRAM	MASTER OF COMMERCE (M COM)
SEMESTER	I
COURSE CODE & NAME	DCM6105  BUSINESS AND ECONOMIC LAWS

 

 

Set – 1

 

 

Q1. Discuss the duties of a bailor and bailee under the Indian Contract Act.     5+5     

Ans 1.

Duties of the Bailor

Under the Indian Contract Act, 1872, a bailor is the person who delivers goods to another person (the bailee) for a specific purpose upon a contract that the goods shall be returned or disposed of as per the bailor’s directions. The Act lays down several duties that the bailor must fulfill to ensure fairness and legal balance in a contract of bailment.

One of the primary duties of the bailor is to disclose all known faults in the goods bailed. Section 150 of the Act provides that the bailor is bound to disclose faults which materially

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Q2. Write a short note on:               

1. Sources of Indian Law 5
2. Capacity to Contract 5

Ans 2.

1. Sources of Indian Law

Indian law is derived from multiple sources that collectively shape the legal system of the country. The primary source of Indian law is the Constitution of India, which is the supreme law and provides the fundamental framework for governance, rights, duties, and powers of institutions. Any law inconsistent with the Constitution is considered void.

Legislation is another significant source of Indian law. Laws enacted by Parliament and State Legislatures govern various aspects of civil, criminal, commercial, and administrative

 

 

Q3. Describe the relations of the partners of a firm to one another under the Partnership Act, 1932. 10      

Ans 3.

General Principle of Mutual Rights and Duties

The Partnership Act, 1932 governs the internal relationship among partners of a firm. The relations of partners to one another are primarily based on mutual trust, good faith, and contractual understanding. Subject to any agreement between the partners, the rights and duties laid down in the Act apply uniformly. Section 9 of the Act emphasizes that partners must carry on the business of the firm to the greatest common advantage and must be just and

 

Set – 2

 

Q4. Explain the remedies available to the consumer under the Consumer Protection Act.       10

Ans 4.

Right to Seek Redressal Against Defective Goods and Deficient Services

The Consumer Protection Act provides consumers with the right to seek remedies against defective goods and deficient services. A consumer may file a complaint when goods suffer from defects or services fall short of promised standards. The Act ensures quick and effective redressal through a structured grievance mechanism.

Replacement of Goods

One of the key remedies available to consumers is the replacement of defective goods. If

 

Q5. Discuss the various types of meetings and their provisions under the Companies Act, 2013. 10   

Ans 5.

Meaning and Importance of Company Meetings

A meeting under the Companies Act, 2013 refers to a lawful assembly of members, directors, or stakeholders convened for discussing and deciding matters relating to the company. Meetings play a vital role in corporate governance as they provide a formal platform for decision-making, approval of policies, and protection of shareholder interests. The Act prescribes different types of meetings with specific provisions regarding notice, quorum,

 

 

Q6. Describe the meaning and civil remedies available for infringement of copyright. 3+7     

Ans 6.

Copyright Infringement

Copyright infringement refers to the unauthorized use, reproduction, distribution, communication, adaptation, or translation of a copyrighted work in violation of the exclusive rights granted to the copyright owner under the Copyright Act, 1957. When any person, without obtaining permission or license from the copyright holder, performs an act that is legally reserved for the owner, such action amounts to infringement. Copyright protects original literary, dramatic, musical, artistic works, cinematograph films, and sound