Business Law 1st Year Important Questions 2024

Today you will get a bunch of business law 1st year important questions for the new session 2024. 

These questions have been taken from the question bank. 

As you know business law deals with the legal rights of the company or organization. 

The categories included in this are - the law of copyright, contractual law, financial law, IPR, workplace safety regulation, and more. 

This subject is very important from a career perspective. 

You can choose this subject to make a career for a long period. 

The companies are paying very good and lucrative remuneration to the employees. 

Now come to the point. 

These bcom 1st year business law important questions are for you as per the syllabus. 

If your university syllabus is not matching then go with them. 

Treat these questions as a 1st year business law model question paper for the preparations. 

Before starting to write the answers to the questions, read the related lesson in the textbook. 

Then understand the concept of the chapter. 

Now start to write the answer with the help of your university-recommended textbook.

Focus on writing the answer in your own words. 

You see that decent business law notes have been prepared for's 1st year.

These tips save you time and help to memorize the answer in a very short time. 

Let's start to write the answer.

Business Law 1st Year Question Paper 1st Year 1st Paper Business Law Important Questions

Paper-1 Business Management

  • Who can make a valid contract? Discuss the validity of agreements made by a minor.
  • When is the consent said to be free?
  • When is the revocation of the proposal made?
  • Point out the remedies against breach of contract.
  • Who employs substituted agents?
  • Distinguish between holder and holder in due course. 
  • Distinguish between noting and protest.
  • What is the jurisdiction of the National Commission?
  • What is the constitution of central and state consumer protection councils?
  • What is included in foreign exchange?
  • Define 'Service'.
  • "All contracts are agreements but all agreements are not contracts". Discuss this statement.
  • Discuss in brief the remedies available to an aggrieved party in case of breach of the contract. 
  • Who is a Bailor? State his rights and duties.
  • What do you mean by the crossing of a cheque? Discuss different kinds of crossing with suitable examples. 
  • What is a 'negotiable instrument'? Describe the essential characteristics of a negotiable instrument?
  • What is a District Consumer Forum? Describe the Jurisdiction and powers of a district forum.
  • Explain the main objects of the Monopolies and Restrictive Trade Practice Act. 
  • State the main provisions of FEMA with regard to the regulation and management of foreign exchange. 
  • Write short notes on the following:- (a) Trademark Act 1999 (b) Patent Act 1971. 1st Year 2nd Paper Business Law Important Questions

Paper-2 Business Law 

  • Define consideration. Under what circumstances is the object or consideration of a contract deemed unlawful? Give illustrations. 
  • Define Agency. How it is created and how it is terminated?
  • What do you mean by the term pledge? Explain the respective rights and duties of the Pawnee and Pawner.
  • Define an unpaid seller. What are the rights of an unpaid seller against the goods? 
  • Define partnership and enumerate the rights and duties of partners. 
  • What do you understand by bailment? Throw light on the rights and duties of a bailor. 
  • What is an illegal agreement?
  • State any one example of an illegal agreement?
  • What is a void agreement?
  • What is a contract of indemnity?
  • What is a contract of sale?
  • What is the performance of the contract? Under what circumstances does a contract need not be performed?

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