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Exam Paper for Business Law in BBA (With
Answers)
PAPER # 1
**Exam Paper: Business Law for BBA**
**Duration:** 2 hours
**Instructions:**
1
...

2
...

3
...

4
...

5
...

**Section A: Multiple Choice Questions (15 points)**
Choose the correct answer for each question
...
Which of the following is not a characteristic of a legally binding
contract?
a) Offer and acceptance
b) Intention to create legal relations
c) Consideration
d) Handshake agreement

2

**Answer:** d) Handshake agreement
2
...
Which law regulates unfair business practices and protects
consumers?
a) Contract law
b) Tort law
c) Antitrust law
d) Consumer protection law
**Answer:** d) Consumer protection law
4
...
In a negotiation process, what is the term for an agreement to keep
an offer open for a specified period?
a) Acceptance
b) Counteroffer
c) Option contract
d) Lapse of offer
**Answer:** c) Option contract
**Section B: Short Answer Questions (20 points)**
6
...

Provide an example where this concept might apply
...
This concept may apply when the corporate form is abused, and
the corporate entity is used to shield individuals from personal liability
...

7
...

**Answer:** Freedom of contract is a fundamental principle in contract
law that allows parties to enter into agreements on their own terms
without undue interference from the government or external parties
...
This principle encourages
business transactions by providing a sense of predictability and trust
in contractual relationships
...

**Section C: Essay Questions (65 points)**
8
...

Provide examples to illustrate each element
...
It must be
communicated to the offeree and demonstrate an intention to be
bound
...

**Acceptance:** Acceptance is the offeree's positive and unconditional
agreement to the terms of the offer
...
For instance, if a buyer agrees to purchase the car
at the advertised price, it constitutes acceptance
...
It can be money, goods, services, or
a promise to do or not do something
...
In a contract to sell a car, the

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buyer's promise to pay and the seller's promise to transfer ownership
constitute consideration
...
Social or domestic
agreements usually lack this intention, but business contracts typically
do
...
However, if a supplier and a
business agree on terms for the supply of goods, there is a clear
intention to create legal relations
...
Define and differentiate between tort law and contract law
...

**Answer:**
**Tort Law:** Tort law deals with civil wrongs or harms caused by one
party to another, leading to legal liability
...
g
...

Tort law does not necessarily involve a pre-existing agreement
between the parties
...
g
...
g
...
g
...
For instance, if a driver causes an accident
by running a red light, resulting in injuries to another driver, it would be
a case of tort law
...
It is based on the principle that parties
are bound by the terms they voluntarily agree to
...
For example, if a

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person agrees to purchase a car for a specific price but later refuses
to pay, it is a contract law issue
...
You are a business owner looking to hire an independent
contractor to provide web development services for your company's
website
...
Include provisions related to payment,
deliverables, deadlines, and dispute resolution
...
The answer would vary based on the student's
understanding of contract drafting
...

**1
...


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**2
...
g
...
Payment shall be made within
[Specify Payment Terms, e
...
, 30 days] of receipt of an invoice
...
Deliverables:**

- Contractor shall deliver the following milestones and deliverables:
- [List Deliverables and Milestones]
**4
...
Intellectual Property:**
- All work product and intellectual property created as part of this
engagement shall belong to the Client upon full payment
...
Confidentiality:**
- Contractor agrees to maintain the confidentiality of all Client
information and project details
...
Dispute Resolution:**
- Any disputes arising under or in connection with this Contract shall
be resolved through mediation, with each party bearing its own costs
...
Termination:**

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- Either party may terminate this Contract with written notice if the
other party breaches its obligations
...
Governing Law:**
- This Contract shall be governed by and construed in accordance
with the laws of [Specify Jurisdiction]
...
Entire Agreement:**
- This Contract constitutes the entire agreement between the
parties and supersedes all prior oral or written agreements,
understandings, or representations
...

**Client:**
[Your Name]
[Your Company Name]
[Signature]
[Date]
**Contractor:**
[Contractor's Name]
[Signature]
[Date]
**Exhibit A: Scope of Work**
[Detailed description of the web development services to be provided]

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--Please note that this is a simplified contract template
...

Remember that the points for this section would be awarded based on
the quality and completeness of the contract drafted by the student
...




Each question carries 20 marks
...


Section A
Multiple Choice Questions
1
...
Which of the following is an essential element of a contract?
(a) Offer (b) Acceptance (c) Consideration (d) All of the above
Answer: (d)
3
...
Which of the following is a type of breach of contract?
(a) Anticipatory breach (b) Actual breach (c) Fundamental breach (d) All of the above
Answer: (d)
5
...
Define the following terms:
(a) Offer (b) Acceptance (c) Consideration
Answer:

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(a) Offer: An offer is a proposal to enter into a contract
...

(b) Acceptance: Acceptance is the agreement to an offer
...

(c) Consideration: Consideration is something of value that is exchanged for a promise
in a contract
...

2
...

Answer:
A void contract is a contract that has no legal effect from the very beginning
...
An unenforceable contract, on the other hand, is a
contract that has legal effect, but cannot be enforced in court
...
For example, a contract
may be void if it is illegal, if it is made by a minor, or if it is made under duress or undue
influence
...
For
example, a contract may be unenforceable if it is not in writing, if it is not signed by both
parties, or if it is not supported by consideration
...
Discuss the remedies available to an innocent party for breach of contract
...
However, the most common
remedies are damages, specific performance, and injunction
...
Specific performance is an order
from the court requiring the breaching party to perform their obligations under the
contract
...


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Section C
Essay Question
1
...

Answer:
There are four main types of business organizations: sole proprietorships, partnerships,
corporations, and limited liability companies (LLCs)
...
The sole proprietor is personally liable for all of the
business's debts and liabilities
...
The partners are personally liable for all of the business's debts
and liabilities
...
The
corporation's owners, known as shareholders, are not personally liable for the
corporation's debts and liabilities
...


Each type of business organization has its own advantages and disadvantages
...


PAPER # 3

Business Law Exam Paper for BBA
Instructions: Answer all questions
...
Which of the following is NOT an essential element of a contract?
o

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(A) Agreement

o

(B) Consideration

o

(C) Capacity

o

(D) Legality

2
...
Which of the following is NOT a type of discharge of contract?
o

(A) Performance

o

(B) Agreement

o

(C) Breach

o

(D) Frustration

4
...
Which of the following is NOT a type of business organization?
o

(A) Sole proprietorship

o

(B) Partnership

o

(C) Corporation

o

(D) Franchising

Part B: Short Answer (40 marks)
1
...
What are the rights of an unpaid seller?
3
...
What are the advantages and disadvantages of different types of business
organizations?
Part C: Essay (50 marks)
1
...

2
...

3
...

Answers
Part A:
1
...
(D) All of the above
3
...
(D) All of the above
5
...
A condition is a term of a contract that is so fundamental that its breach gives the
innocent party the right to rescind the contract
...

2
...

3
...

4
...
For example, sole proprietorship is the
simplest and easiest type of business organization to create, but it also offers the
least amount of personal liability protection
...
Corporations offer the most personal liability protection,

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but they are also the most complex and expensive type of business organization
to create and maintain
...
The elements of a valid contract are:
o

Offer and acceptance

o

Consideration

o

Capacity

o

Legality

2
...

3
...
Which of the following is NOT an essential element of a contract?

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o

(A) Agreement

o

(B) Consideration

o

(C) Capacity

o

(D) Legality

2
...
Which of the following is NOT a type of discharge of contract?
o

(A) Performance

o

(B) Agreement

o

(C) Breach

o

(D) Frustration

4
...
Which of the following is NOT a type of business organization?
o

(A) Sole proprietorship

o

(B) Partnership

o

(C) Corporation

o

(D) Franchising

Part B: Short Answer (40 marks)
1
...
What are the rights of an unpaid seller?
3
...
What are the advantages and disadvantages of different types of business
organizations?
Part C: Essay (50 marks)
1
...

2
...

3
...

Answers
Part A:
1
...
(D) All of the above
3
...
(D) All of the above
5
...
A condition is a term of a contract that is so fundamental that its breach gives the
innocent party the right to rescind the contract
...

2
...

3
...

4
...
For example, sole proprietorship is the
simplest and easiest type of business organization to create, but it also offers the
least amount of personal liability protection
...
Corporations offer the most personal liability protection,
but they are also the most complex and expensive type of business organization
to create and maintain
...
The elements of a valid contract are:
o

Offer and acceptance

o

Consideration

o

Capacity

o

Legality

2
...

3
...


KEYWORDS:
1
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BBA Exam Paper
3
...
BBA Program

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5
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Exam Preparation
7
...
Legal Studies
9
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BBA Curriculum
11
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Law in Business
13
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Case Studies
15
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Business Law Practice
17
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Study Guide
19
...
BBA Study Resources

Here is a list of tags for the Exam Paper for Business Law in BBA (With Answers):

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

Contract Law



Business Organizations



Property Law



Agency Law



Employment Law



Torts



Securities Regulation



Antitrust Law



Consumer Law



Environmental Law



Intellectual Property Law



International Business Law

Here are some examples of how these tags can be used in the exam paper:
Contract Law
 What are the essential elements of a contract?


What are the different types of contracts?



What are the remedies for breach of contract?

Business Organizations
 What are the different types of business organizations?


What are the advantages and disadvantages of each type of business
organization?



How are business organizations formed and dissolved?

Property Law


What are the different types of property?



What are the rights of property owners?



How is property transferred?

Agency Law
 What is the relationship between an agent and a principal?


What are the duties and liabilities of agents and principals?



How is an agency relationship terminated?

Employment Law
 What are the rights of employees?


What are the responsibilities of employers?



What are the different types of employment discrimination?

Torts

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

What is a tort?



What are the different types of torts?



What are the elements of a negligence claim?

Securities Regulation


What are the securities laws?



What are the different types of securities?



What are the requirements for registering securities with the Securities and
Exchange Commission?

Antitrust Law
 What are the antitrust laws?


What are the different types of antitrust violations?



What are the penalties for antitrust violations?

Consumer Law
 What are the rights of consumers?


What are the responsibilities of businesses?



What are the different types of consumer protection laws?

Environmental Law


What are the environmental laws?



What are the different types of environmental pollution?



What are the responsibilities of businesses to protect the environment?

Intellectual Property Law
 What are the different types of intellectual property?


What are the rights of intellectual property owners?



How is intellectual property protected?

International Business Law
 What are the different types of international business transactions?

22



What are the legal considerations for international business transactions?



How are international business disputes resolved?



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