Faculty of Commerce
Syllabus: B.Com Part 2

(GROUP-A-Accounts)
Paper-III: BUSINESS LAW

• Indian Contract Act- 1872:
  (a) Agreement & Contract. Valid, Void, Contingent & Quasi Contract and e-contract. Offer
  or proposal-Definitions & Essential elements, Acceptance-Definitions & Essential elements,
  Promise, Communication of Offer and Acceptance and Revocation. Capacity to Contract,
  Consent and Free Consent, Consideration and Void Agreements.
  (b) Law of Indemnity and Guarantee.
  (c) Law of Bailment and Pledge.
  (d) Law of Agency.
• Sale of Goods Act-1930:
  (a) Introduction, Definition, Formalities of the contract of sales,
  (b) Distinction between ‘sale’ and ‘agreement of sale’
  (c) Distinction between’ sale’ and ‘hire purchase agreement’.
  (d) Conditions and Warranties.
  (e) Transfer of Property as between the seller and the buyer. Rights of an unpaid seller.
• Negotiable Instruments Act-1881.
  (a) Meaning and Characteristics of Negotiable Instrument.
  (b) Promissory and bill of Exchange: Essential elements, Acceptor and Acceptance,
  Acceptance for Honour
  (c) Drawer, Drawee in case of needs, Payee.
  (d) Types of Cheque and Penalties in case of dishonour, Difference between cheque and Bill
  of exchange.
• Carriage of Goods Act.
• Insolvency and Arbitration Act
• Indian Partnership Act.
  Books Recommended:
• Dr. G.K. Varshney- Business Law
• M.C. Kuchhal & Vivek Kuchhal- Business Laws
• N.D. Kapoor- Business Laws.
  

MODEL QUESTION PAPER
B.Com Part-2
BUSINESS LAW (Hons) Paper-III
Answer any five questions

1. What is contract? Explain the essential elements of a valid contract.
2. Explain the offer and acceptance and discuss their legal rules.
3. What is competency to contract? Who are the persons considered competent to enter a
   contract by the Indian Contract Act.
4. Define consent. When is consent said to be free?
5. Describe the law relating to minor’s contracts in India.
6. Define Consideration and discuss its characteristics.
7. Discuss the various agreements which are expressly declared by the Indian contract Act.
8. Discuss the rule regarding performance of contracts.
9. Define Agency? Explain how it is created and how it is terminated.
10. What is contract of sale? Discuss the characteristics of sale.

Paper-IV: SPECIALISED ACCOUNTING

1. Profit or Loss Prior and after Incorporation, Bonus shares
2. Amalgamation, Absorption and Reconstruction of a Company
3. Liquidation of a Company (voluntary)
4. Holding Company: Preparation of Consolidated Balance Sheet with one Subsidiary.
5. Account of Banking Company.
6. Accounting of non-trading institutions: Receipts & Payment Account and Income &
   Expenditure Account.
7. Insolvency.
   Books Recommended:
8. Dr.S.M. Shukla & Dr. K.L. Gupta: Specialised Accounting
9. Dr. S.K. Singh: Financial Accounting & Specialised Accounting
10. Steven M. Bragg: Accounting Best Practices.

10. A Company issued 20000 Shares of Rs. 10 each payable as Rs. 3 per share on application, Rs
    3 per share on allotment and Rs 4 per share on call.
    Applications were received on 25000 shares. The company rejected the excess application
    on 5000 shares. When the call was made all sum due were received except on 2000 shares.
    Show Journal Entries.

(GROUP-B-CORPORATE ADMINISTRATION)
Paper-III: BUSINESS LAW

1. Indian Contract Act- 1872:
   (a) Agreement & Contract. Valid, Void, Contingent & Quasi Contract and e-contract. Offer
   or proposal-Definitions & Essential elements, Acceptance-Definitions & Essential
   elements, Promise, Communication of Offer and Acceptance and Revocation. Capacity
   to Contract, Consent and Free Consent, Consideration and Void Agreements.
   (b) Law of Indemnity and Guarantee.
   (c) Law of Bailment and Pledge.
   (d) Law of Agency.
2. Sale of Goods Act-1930:
   (a) Introduction, Definition, Formalities of the contract of sales,
   (b) Distinction between ‘sale’ and ‘agreement of sale’
   (c) Distinction between’ sale’ and ‘hire purchase agreement’.
   (d) Conditions and Warranties.
   (e) Transfer of Property as between the seller and the buyer. Rights of an unpaid seller.
3. Negotiable Instruments Act-1881.
   (a) Meaning and Characteristics of Negotiable Instrument.
   (b) Promissory and bill of Exchange: Essential elements, Acceptor and Acceptance,
   Acceptance for Honour
   (c) Drawer, Drawee in case of needs, Payee.
   (d) Types of Cheque and Penalties in case of dishonour, Difference between cheque and Bill
   of exchange.
4. Carriage of Goods Act.
5. Insolvency and Arbitration Act
6. Indian Partnership Act.

• MODEL QUESTION PAPER
• B.Com Part-2
• BUSINESS LAW (Hons) Paper-III
• Answer any five questions
• What is contract? Explain the essential elements of a valid contract.
• Explain the offer and acceptance and discuss their legal rules.
• What is competency to contract? Who are the persons considered competent to enter a
  contract by the Indian Contract Act.
• Define consent. When is consent said to be free?
• Describe the law relating to minor’s contracts in India.
• Define Consideration and discuss its characteristics.
• Discuss the various agreements which are expressly declared by the Indian contract Act.
• Discuss the rule regarding performance of contracts.
• Define Agency. How it is created and how it is terminated?
• What is contract of sale? Discuss the characteristics of sale.
• 
  Paper-IV: COMPANY LAW & ADMINISTRATION
  A. Company Law: Detailed study of the Companies Act, 1956. Definition and meaning,
  Incorporation of company and connected matters; prospectus, shares and debentures;
  Registration of changes; Management, Audit and Accounting; Directors, Managing Directors,
  etc.
  Meetings, Resolutions and procedures; Secretaries and treasurer, Arbitration and
  compromise, Arrangements and Reconstruction, Prevention of Oppression and
  Mismanagement; Winding up of Companies-Voluntary and Compulsory-Companies
  Incorporated outside India- Government Companies.
  B. Administration: Company Profit and Finance, Pattern of liability and assets, sources and
  uses of funds-loans and investments; Capital issues-Dividend, Companies incorporated
  outside but working in India. The Department of Company Law Administration; the Advisory
  Commission.

MODEL QUESTION PAPER
B.Com Part-2
MONEY & BANKING
Answer any five questions

• Define money. Discuss its importance.
• What are the different kinds of paper money? State their merits and demerits.
• What is inflation? Discuss its causes and effects.
• What is meant by Deflation? Discuss its causes and effects.
• What is index number? How are they constructed?
• What is unit banking? Discuss its merits & demerits
• Discuss the functions of commercial banks.
• Discuss the investment policy of commercial banks.
• State the various method of credit control of central bank.
• Explain the functions of central banks.
• 
  II. PLANNING & ECONOMIC DEVELOPMENT:
• Nature of Economic System: Capitalism, Socialism and Mixed Economycharacteristics, features, merits & demerits of each system.
• Economic Planning: Meaning, nature, object, scope & Importance; Features of
  underdeveloped economy.
• Economic Development of India: Role of State in growth and industrial development
  in a Country.
• Indian Agriculture: Growth and development of Agriculture in India- Land ReformsSubdivisions and Fragmentation of landholdings-Fixation of Ceiling-Consolidation of
  Holdings and Co-operative farming-Five Year Plans and Agriculture-Food Problem
  and food production in India.
• Problems of Industrialisation in India: Industrial policy of the Government of India
  since 1948-Growth of Public Sector. Large Scale Industries-Problems and present
  position of Iron & Steel, Cotton, Textiles, Jute & Sugar industries, Protection to
  Industries, Importance of Small scale and Cottage Industries.
• Trade: Trends and special features of foreign trade-Tariff protection, composition &
  directive since 1950, Means of Transport, Railways, Road & Air transport and their
  progresses after independence.