Postgraduate Diploma in Marketing December 2013 Examination ... of the law in the Sri Lankan ... of a contract of sales as per the Sale of Goods Ordin...
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Postgraduate Diploma in Marketing December 2013 Examination Economic and Legal Impact – Paper II (Legal) Date: 19th June 2013 Time: 1100 Hrs – 1200 Hrs
Duration: One (01) Hrs
Total marks for this paper is 100 marks. There are three parts in this question paper. All questions in Part One and Part Two are compulsory. Part One includes 10 Compulsory multiple choice questions. Select the most appropriate answer from the given choices and mark it in the given space in the answer book. Part Two includes 03 Compulsory short answer questions. Part Three includes 03 Essay Type Questions. Answer only 01 Question from this part.
Instructions to candidates 1
2. 3. 4.
5.
State your Registration Number on the front cover of the answer book and on each and every additional paper attached to it. Your name must not appear anywhere in the answer book or answer scripts Always start answering a question on a new page You are reminded that answers should not be written in pencil or red pen except in drawing diagrams Answer the questions using: Effective arrangement and presentation Clarity of expression Logical and precise arguments Clear diagrams and examples where appropriate Page 1 of 6 Illegible hand writing and language errors will be penalised
PART ONE Read the question and select the most appropriate answer out of the four given choices. Tick your choice in the given space in the answer booklet. Question 01 Question 1.1 Which of the following are sources of the law in the Sri Lankan legal system? a. b. c. d.
Constitution—statutes—customs—case law Treaties—arbitration—law merchant—case law Statutes—treaties—administrative regulations Constitutions—mediation—civil law—equity
Question 1.2 Ann offers her house for sale to Bill. Five days after the offer, a flood destroys Ann's house. The destruction of the house automatically causes Ann’s offer to: a. b. c. d.
extend terminate transform into an option whereby Bill can accept or not transform into a firm offer
Question 1.3 The case Fisher v Bell established the following point of law: a. All advertisements in a magazine will constitute an offer to sell b. A price tag on an item displayed in a shop window must be sold at the displayed price by the retailer c. An item in a shop window displaying a price tag is generally held as an invitation to treat d. All adverts through the internet are considered offers and are not examples of an invitation to treat
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Question 1.4 A agrees to sell his car worth Rs.200,000 to B for Rs.10,000 only. A’s consent was obtained by threat. Here the agreement is: a. b. c. d.
Void Valid Voidable Unlawful
Question 1.5 An intention to create legal relations will be presumed in which of the following situations? a. Between friends and social acquaintances b. Between husband and wife c. Where parties in a commercial relationship have established the agreement between them is 'in honour only' d. Between parties in a commercial relationship. Question 1.6 An agent is under a duty to obey: a. b. c. d.
Any instruction given by the principal All lawful instructions given by the principal All instructions given by the principal Only those lawful instructions which will reasonably benefit the agent
Question 1.7 Breach of the following term will entitle the innocent party to claim damages AND repudiate the contract: a. b. c. d.
A condition A warranty An innominate term A representation
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Question 1.8 Under the Sale of Goods Ordinance, 'future goods' means: a. b. c. d.
goods which are not yet in existence unascertained goods ascertained goods specific goods
Question 1.9 Which of the following is necessary for the formation of the contract of sale of goods under the Sale of Goods Ordinance: a. b. c. d.
payment delivery both payment and delivery neither payment nor delivery
Question 1.10 Duration of a patent is: a. b. c. d.
twenty years Thirty years Ten years Fifteen years
(4 Marks X 10 Questions) (Total 40 Marks)
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PART TWO This part includes THREE compulsory short answer questions Answer all questions Question 02 What are the differences between Civil Law and Criminal Law? (10 Marks) Question 03 Under Patent Rights, what are the rights of the owner of a patent? (10 Marks) Question 04 What are the duties of an agent? (10 Marks) (Total 30 Marks)
PART THREE This part includes Three Essay Type Questions Answer only ONE question from this part
Question 05 a. What kind of goods can be the subject matter of a contract of sales as per the Sale of Goods Ordinance 1896? Support your answer with examples. (15 Marks) b. Discuss with reference to decided cases the implied condition as to title in sale of goods law. (15 Marks) (Total 30 Marks)
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Question 06 a. State whether the following statements are True or False. Give reasons briefly. i. ii. iii. iv. v.
A contract with a minor for his benefit cannot be enforced. A minor can ratify his contract after attaining majority. The guardian of a minor can bind the minor by a contract entered into on his behalf for the sale of immoveable property which belongs to the minor. Mere weakness of mind is not a sufficient test of unsound mind. A married woman cannot enter into a valid contract. (3 Marks x 5 Questions) (15 Marks)
b. What are the general rules regarding communication of acceptance by post? Explain (15 Marks) (Total 30 marks) Question 07 a. What are the main characteristics of a ‘Negotiable Instrument’? (15 Marks) b. Under what circumstances will banks not pay cheques?
