Business Law (bcoc-133) - Volume 2 - Free Notes PDF

Business Law (BCOC-133) - Volume 2

June 17, 2026

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Exam Questions (3 & 5 marks)

From Business Law

Q1. Explain any three features of e-contracts.

3 marks

Answer

Features of e-contracts (any three):

Formed electronically and paperless.
Quick acceptance through clicks/online consent.
Records stored electronically; terms often standardized.

Q2. Explain express, implied and quasi contracts (any three points).

3 marks

Answer

Express contract: formed by words (written or spoken).
Implied contract: formed by conduct or circumstances.
Quasi contract: obligation imposed by law to prevent unjust enrichment, even without agreement.

Q3. Describe the sources of business law and explain each briefly with examples. Use a table.

5 marks

Answer

Sources of business law are the origins from which legal rules are derived. Understanding sources helps students know how business rules are formed and enforced.

Source	Meaning	Example
Constitution	basic legal framework; legislative powers	distribution of law-making powers
Statutes (legislation)	Acts passed by legislature	Indian Contract Act, Sale of Goods Act
Judicial precedents	decisions of courts guiding later cases	Supreme Court/High Court rulings
Customs and usage	long-established practices recognized by law	trade customs in markets
Delegated legislation	rules/regulations under an Act	rules, notifications, regulations

Therefore, business law comes from both written laws and recognized practices and court interpretations.

Complete Youtube Videos for this Subject - Business Law

Business law encompasses all of the laws that dictate how to form and run a business. This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. Business laws establish the rules that all businesses should follow.

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Business Law (BCOC-133) - Volume 2

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Related Videos for Business Law (BCOC-133) - Volume 2

Exam Questions (3 & 5 marks)

Complete Youtube Videos for this Subject - Business Law

Download our app for easy access

Exam Questions (3 & 5 marks)