Hello FYBMS students, We’ve been receiving many requests by students to publish some questions we think are important from the exam preparations perspective. Since this is the first time FYBMS exams are conducted, we weren’t able to put together a question bank, however someone from the fraternity shared this with us...
Business Law– Revised FYBMS Syllabus 2016 Modules at a Glance Sr. No. Modules No. of Lectures 1 Contract Act, 1872 & Sale of Goods Act, 1930 15 2 Negotiable Instrument Act, 1981 & Consumer Protection Act, 1986 15 3 Company Law 15 4 Intellectual Property Rights(IPR) 15 Total...
Introduction: A strong legal system is the necessity of any society’s well being and it would be foolish of us to deny that! As BMS students we are a bunch of rebellious young adults who do everything but follow the rules and regulations set for us, in fact we...
Fraud means cheating. It is intentionally stating something untrue as true. Section 17 defines Fraud as “Fraud means and included any of the following acts committed by a party to a contract or with his connivance, or his agent, which intent to decided another party thereto or his agent,...
Section18 defines misrepresentation as – “a false representation a fact made innocently or non disclosure of a material fact without any intention to deceive the other party.” The essential features of misrepresentation are 1) Party to the contract making misrepresentation – The false statement must be by...
The following kinds of agreements are expressly declared to be void :- 1) Agreement made by incompetent person, For e.g. minor, a person of unsound mind 2) Agreement made under mutual mistake as to matter of fact essential to the agreement. 3) Agreement made under mistake as to a...
A Contract is said to be discharged when the rights and obligations created by it come to an end. A contract may be discharged in the following modes:- 1. Discharge by performance – Discharge by performance takes place when the parties to a contract fulfill their obligations arising under the...
The term ‘negotiable’ means transferable and the word ‘document’ means ‘in writing’. Therefore, negotiable means a written promise or order to pay money which may be transferred from one person to another. Section 13 of the Negotiable Instruments Act, 1881 states – “A negotiable instrument means a promissory note,...
“A promissory note is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument..” Illustrations...
As per Section 5 a “bill of exchange” is “an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument.”...
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