Business Law - Question Paper, Bachelor of Commerce(Hons.)

Introduction
Business Law is a crucial subject for students pursuing a Bachelor of Commerce(Hons.) degree. It encompasses various legal principles and regulations that govern business activities. One of the common assessment methods for this subject is multiple-choice question (MCQ) papers. In this document, we will provide a sample business law question paper consisting of MCQs.

Question 1
Which of the following is not a characteristic of a valid contract?
- a) Offer and acceptance
- b) Consideration
- c) Capacity to contract
- d) Coercion

Question 2
What is the purpose of intellectual property laws?
- a) To protect inventions and creations
- b) To restrict competition
- c) To grant monopolies
- d) To encourage piracy

Question 3
What is the legal consequence of breach of contract?
- a) Specific performance
- b) Damages
- c) Rescission
- d) All of the above

Question 4
Which of the following is not a form of alternative dispute resolution?
- a) Mediation
- b) Arbitration
- c) Litigation
- d) Negotiation

Question 5
What is the purpose of the Competition Act?
- a) To regulate mergers and acquisitions
- b) To prevent anti-competitive practices
- c) To promote monopolies
- d) To encourage price-fixing

Question 6
What is the legal principle of "vicarious liability"?
- a) Liability of an employer for the actions of an employee
- b) Liability of a government for tortious acts
- c) Liability of a company for the actions of a shareholder
- d) Liability of a minor for contractual obligations

Question 7
Which of the following is a legal requirement for a valid will?
- a) Testator's signature
- b) Witnesses' signatures
- c) Notarization
- d) All of the above

Question 8
What is the purpose of consumer protection laws?
- a) To ensure fair trade practices
- b) To regulate product quality and safety
- c) To protect consumers from fraud and unfair contracts
- d) All of the above

Question 9
Which of the following is a form of business organization?
- a) Sole proprietorship
- b) Partnership
- c) Corporation
- d) All of the above

Question 10
What is the legal consequence of defamation?
- a) Monetary damages
- b) Injunctions
- c) Public apology
- d) All of the above

Conclusion
In this sample business law question paper, we covered various topics such as contract law, intellectual property, dispute resolution, competition law, liability, wills, consumer protection, and business organizations. These MCQs will assess students' understanding of key concepts in business law. Remember to answer each question carefully, considering the