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ca inter law test marathon test 6 corporate and other laws ca intermediate test series july 2020 chapter 10 contract act chapter 12 general clauses act 1 the question paper ...

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                                                              CA Inter Law Test Marathon – Test 6 
                
                                                                CORPORATE AND OTHER LAWS 
                                                                  CA Intermediate Test Series – July 2020 
               Chapter 10 – Contract Act 
               Chapter 12 – General Clauses Act 
               1.       The question paper comprises two parts, Part I and Part II. 
               2.       Part I comprises Multiple Choice Questions (MCQs). 
               3.       There is no requirement to give any reasoning for MCQs. 
               4.       Part II comprises questions which require descriptive type answers. 
               5.       Duration of the examination is 1 hour. 
                        ______________________________________________________________________________________                       
                                                                                           
                                                                                    PART – I 
                                                                      (7 MCQs x 1 marks each = 7 marks) 
                         
               Q1:      A, B and C, as sureties for D for a sum of INR 1,00,000/- lent to E, and there is a contract among A, B and C that A is to 
                        be responsible up to an extent of INR 25,000, B up to an extent of INR 25,000 and C up to an extent of INR 50,000. E 
                        makes a default in payment of INR 60,000. State the liability of A, B and C  
               (a)      A and B are liable INR 15,000 each and C for INR 30,000 
               (b)      A, B and C are liable for INR 20,000 each  
               (c)      A and B are liable for INR 25,000 each and C for INR 10,000 
               (d)      A is liable for INR 20,000; B is for INR 25,000 and C for INR 15,000 
                         
               Q2:      A good friend of Mr. A, Mr. D is a property dealer in Delhi and works for many renowned registered real estate 
                        developers. As Mr. D is doing very well in his work, Mr. A also wanted to work as a property dealer or property agent. 
                        Mr. X, a real estate developer of Delhi, appointed Mr. D as his agent for selling flats in his upcoming project, and asked 
                        him to name some other person to work for him, for another project. At this time, he introduced Mr. A to Mr. X, saying 
                        that he is also in the same field for last 10 years, although Mr. A did not had any experience in this field. Going by his 
                        words, Mr. X instructed to appoint Mr. A also for his other ventures. From the following, Mr. A will be treated as 
               (a)      Agent of Mr. X 
               (b)      Sub-agent of Mr. D 
               (c)      Substituted agent of Mr. X 
               (d)      Sub- agent of Mr. X 
                         
               Q3:      Aman contracts to indemnify Megha against the consequences of any proceedings which Chandar may take against 
                        Megha in respect of a sum of   15000/- advanced by Chandar to Megha. Now, Megha who is called upon to pay the sum 
                        of money to Chandar but she fails to do so. Now, as per the provisions of the Indian Contract Act, 1872, advise the future 
                        course of action to be taken by Chandar. 
               (a)      Chandar cannot recover the amount only from Megha 
               (b)      Chandar can recover the full amount from Aman 
               (c)      Chandar cannot recover the amount from Aman 
               (d)      Chandar can recover at least 10% of the total amount from Megha 
                         
               Q4:      A had to travel to a different town for 5 days. He left his cow in the custody of B so that she can be taken care of. After 
                        two days the cow delivers a calf. Now, B has to return to A – 
               (a)      Only the cow 
               (b)      Only the calf 
               (c)      Both the cow and the calf 
               (d)      Either the cow or the calf 
                         
               Q5:      Substituted agent is the agent of  
               (a)      Agent 
               (b)      Principal 
               (c)      Sub-agent 
               (d)      Third party 
                
                  CA Harsh Gupta                                                                                                  t.me/CA_Law_HarshGupta 
                                            CA Inter Law Test Marathon – Test 6 
            
                  
           Q6:   Where an act of parliament does not expressly specify any particular day as to the day of coming into operation of such 
                 Act, then it shall come into operation on the day on which 
           (a)   It receives the assent of the President 
           (b)   It receives the assent of the Governor General 
           (c)   It is notified in the official gazette 
           (d)   None of these 
                  
           Q7:   Which of the following given Statement/s is/are correct? 
                 (1)   In all Central Acts and Regulations, any words which denote the masculine gender shall also be taken to include 
                       females, and vice versa. 
                 (2)   In all Central Acts and Regulations, words in the singular shall include the plural, but not vice versa. 
           (a)   Only statement (1) is correct 
           (b)   Only statement (2) is correct 
           (c)   Both the statements are correct 
           (d)   None of the statement is correct 
                  
            
                                          
            
             CA Harsh Gupta                                                                 t.me/CA_Law_HarshGupta 
                                                        CA Inter Law Test Marathon – Test 6 
               
                                                                             PART – II 
                                                                             (18 marks) 
                      
                    Question paper comprises 4 questions. Answer Question No. 1 which is compulsory and any 2 out of the remaining 3 
                     questions. 
                    Working notes should form part of the answer. 
                      
              1.    
                     (a)     Manoj guarantees for Ranjan, a retail textile merchant, for an amount of   1,00,000, for which Sharma, the 
                             supplier may from time to time supply goods on credit basis to Ranjan during the next 3 months.  
                             After 1 month, Manoj revokes the guarantee, when Sharma had supplied goods on credit for   40,000. Referring 
                             to the provisions other Indian Contract Act, 1872, decide whether Manoj is discharged from all the liabilities to 
                             Sharma for any subsequent credit supply What would be your answer in case Ranjan makes default in paying back 
                             Sharma for the goods already supplied on credit i.e.   40,000? 
                                                                                                                                         (3 marks) 
                                                                                                                                                    
                     (b)     X owned a land with 50 tamarind trees. He sold his land and the timber (obtained after cutting the 50 trees) to Y. 
                             X wants to know whether the sale of timber tantamount to sale of immovable property. Advise him with reference 
                             to provisions of “General Clauses Act, 1897”.  
                                                                                                                                         (3 marks) 
                               
              2.    
                     (a)    Define contract of indemnity and contract of guarantee and state the conditions when guarantee is considered 
                            invalid?  
                                                                                                                                         (3 marks) 
                             
                     (b)    What do you understand by the term ‘Good Faith’. Explain it as per the provisions of the General Clauses Act, 
                            1897. Mr. X purchased a watch from Mr. Y carelessly without proper enquiry. Whether the purchase made could 
                            said to be made in good faith.  
                                                                                                                                         (3 marks) 
                                                                                                                                                    
              3.   
                     (a)   Amar bailed 50 kg of high quality sugar to Srijith, who owned a kirana shop, promising to give   200 at the time of 
                           taking back the bailed goods. Srijith's employee, unaware of this, mixed the 50 kg of sugar belonging to Amar with 
                           the sugar in the shop and packaged it for sale when Srijith was away. This came to light only when Amar came 
                           asking for the sugar he had bailed with Srijith, as the price of the specific quality of sugar had trebled. What is the 
                           remedy available to Amar?  
                                                                                                                                         (3 marks) 
                     (b)     ‘Repeal' of provision is different from 'deletion of provision. Explain. 
                                                                                                                                         (3 marks) 
                             .  
              4.   
                     (a)      Rahul, a transporter was entrusted with the duty of transporting tomatoes from a rural farm to a city by Aswin. 
                             Due to heavy rains, Rahul was stranded for more than two days. Rahul sold the tomatoes below the market rate in 
                             the nearby market where he was stranded fearing that the tomatoes may perish. Can Aswin recover the loss from 
                             Rahul on the ground that Rahul had acted beyond his authority?  
                                                                                                                                         (3 marks) 
                              
                     (b)     A notice was served on Mr. P for appearing in the court. However, the notice could not be served on account of 
                             the fact that the house of the Mr. P was found locked. Thus, Mr. P. did not appear in the court at the said date. 
                             Examine the situation as per the provisions of the General Clauses Act, 1897 and determine whether Mr. P. will 
                             be liable in the given situation.  
                                                                                                                                         (3 marks) 
                          
                          
               
                CA Harsh Gupta                                                                                      t.me/CA_Law_HarshGupta 
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...Ca inter law test marathon corporate and other laws intermediate series july chapter contract act general clauses the question paper comprises two parts part i ii multiple choice questions mcqs there is no requirement to give any reasoning for which require descriptive type answers duration of examination hour x marks each q a b c as sureties d sum inr lent e among that be responsible up an extent makes default in payment state liability are liable good friend mr property dealer delhi works many renowned registered real estate developers doing very well his work also wanted or agent developer appointed selling flats upcoming project asked him name some person another at this time he introduced saying same field last years although did not had experience going by words instructed appoint ventures from following will treated sub substituted aman contracts indemnify megha against consequences proceedings chandar may take respect advanced now who called upon pay money but she fails do so p...

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