Express Contract is one in which the parties directly state the terms of the contract orally or in writing at the time the contract is created. Implied Contract is one in which the offer or acceptance is made but not by words, written or spoken and made by acts and conduct of parties. Constructive Contract is one in which the law imposes a contract under special circumstances. Executed Contract is the one when both parties have completely performed their obligations. Executory Contract is the one when both the parties are yet to perform their obligations.
Here we present Business Law Practice Question Paper Set 9:
Q.1) Explain rights and duties of a partner. – 8 marks
Q.2) Define Memorandum of Association and explain its clauses. – 7 marks
Q.3) Write a note on District Forum. – 8 marks
Q.4) Distinguish between contract of sale and agreement to sell. – 7 marks
Q.5) Explain legal rules relating to offer and acceptance with reference to Mrs. Carlill vs Carbolic Smoke Ball co. – 15 marks
Q.6) Define or explain the terms: 15 marks
a) Void agreement
b) Sale
c) Company
d) Complainant
e) Services
f) Negotiable Instrument
g) Promissory Note
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