Chapter wise Important questions of Business Law

Chapter-wise Important Questions with their answer in the following section

Chapter-1/2 General Introduction to Law and Business Law

1. Define law and explain its characteristics.
2. State and explain the characteristics of Nepalese business law.
3. Explain the types of law.
4. What are the sources of law/business law?
5. Explain need and importance of business law.

Chapter Wise Important Questions of Business Law

Chapter-2 Fundamental Aspects of General Contract

1. Explain the essential elements of a valid contract.
2. Differentiate contracts from the agreement.
3. Discuss the nature and functions of the contract.
4. Define void contract. Explain the contracts that are declared as expressly void.
5. Discuss the major provisions of Civil Code, 2074.

Chapter-3 Offer and Acceptance

1. Explain the rules regarding the valid offers.
2. Explain the rules regarding acceptance.
3. What is the revocation of the offer? What are the grounds for the validity of the revocation of the offer?
4. Explain the rules relating to communication of offer and acceptance and their revocation.

Chapter-4 Consideration

1. Explain the exceptions to the general rule ‘no consideration no contract’. OR Explain the circumstances where a contract becomes valid without consideration.
2. Discuss the rules regarding consideration.
3. Why is the consideration important in the contract?

Chapter-5 Contractual Capacity/ Incapacity to Contract

1. Who is a competent party to contract? Explain the rules regarding an agreement made by a minor.
2. What are the circumstances in which incapable persons are liable?
3. Who are disqualified persons to contract? What is the legal effect of the contract made by/with them?
4. Define necessities. When is a minor liable to a contract for necessaries? 

Chapter-6 Free Consent

1. What is free consent? Explain the importance of free consent in the formation of a valid contract.
2. Distinguish between coercion and undue influence.
3. What is the mistake? Explain the effect of bilateral mistake in the validity of a contract. Or define and discuss the effect of different kinds of mistake in a contract.
4. Explain the circumstances that do not make a consent free. Or Explain the vitiating elements of free consent with suitable examples.

You can find the answer to these questions in the next post under the same label.