SEMESTER 3 COMMON
DRIVE- SPRING 2014
PROGRAM- MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2 — SEM 3 PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN — SEM 1
SUBJECT CODE & NAME- MB0051-Legal Aspects of Business
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Q1. What are the rights of a surety? (Rights against creditors, Rights against Principal Debtor, Right against Co-Sureties) 2, 4, 4
Answer: Rights of Surety against the Creditor
1. Ask the creditor to sue the debtor: On the guaranteed debt having fallen due for payment, the surety may ask the creditor to sue the debtor to collect the due amount, but he cannot compel him to do so. But he must then indemnify the creditor against any risk or delay arising as a consequence.
2. Require the creditor to terminate the debtor’s services: In the case of the fidelity guarantee, if the principal debtor’s dishonesty comes to light, the surety can require the creditor
2. Require the creditor to terminate the debtor’s services: In the case of the fidelity guarantee, if the principal debtor’s dishonesty comes to light, the surety can require the creditor
Q2. Explain duties of a Bailor and a Bailee. (Duties of Bailor, Duties of Bailee) 5, 5
Answer: Duties of bailor (i) the bailor is bound to disclose to the bailee all faults in the goods bailed of which the bailor is aware and which materially interfere with the use of them or which expose the bailee to extraordinary risks. If he fails to do so, he is liable to the bailee in damages.
(ii) Where goods are bailed by way of hire, the bailor is liable to make good loss caused to the bailee by such defects, whether he was aware of their existence or not. Notice that there is a
Q3. “Power of Attorney is considered as an important concept in Business Law”. Explain (Meaning, Types, Registration) 3, 2, 5
Answer: Power of Attorney
Power of attorney is defined by Section 2(21) of the Stamp Act as including “any instrument not chargeable with a fee under the law relating to court fees for the time being in force,” that empowers “a specified person to act for and in the name of the person executing it”. It is the Powers of Attorney Act,
1882, which deals with the subject but does not define it. In common parlance, a power of attorney is an instrument or a deed by which a person is empowered to act for and in the name of the person executing it. The person executing the deed is known as the principal or donor and the one in whose favor it is executed is the agent, or the power agent or the power of attorney agent.
Q4. “The Banking Regulation Act, 1949, provides various methods of regulation of the banking business”. Describe the key areas of regulation. (Methods of regulation) 10
Answer: The Banking Regulation Act, 1949, provides various methods of regulation of the banking business. Some of the key areas of regulation are:
· Power to provide directions — Sections 21 and 35A of the Act empower the RBI to regulate the business of banks by issuing directions controlling various aspects of banking. Section 21 provides the power to regulate advances of banking companies, while Section 35A provides powers of regulation over banks. These statutory directions issued by the RBI are binding on banks. The circulars issued by the RBI, pertaining to its statutory power are binding on banks. The RBI is expected to issue directives with bonafide intentions and is competent to provide advice or caution to the banking companies under Section 36.
Q5. Explain the nature and scope of complaints under the Consumer Protection Act? (Persons competent to make complaints, Place of complaint, Procedure for filing a complaint, Admission of complaint, Power of the District Forum) 3, 1, 2, 2, 2
Answer: Persons competent to file a complaint (Section 12)
Any of the following people may file a complaint under the Act:
· The consumer to whom such goods are sold or delivered or agreed to be sold or delivered or such service provided or agreed to be provided. In case of death of a consumer, the legal heir or representative can file a complaint.
Q6. Explain the need and types of meetings. (Need for meeting, Statutory meetings, Annual General Meetings, Extraordinary meetings, Class meetings) 2, 2, 2, 2
Answer:
Need for meetings
A company is an artificial person and therefore, must act through some human intermediary. The various provisions of law empower shareholders to do certain things. They are specifically reserved for them to be done in company’s general meetings. Section 291 empowers the Board of Directors to manage the affairs of the company. In this context, meetings of shareholders and directors become necessary. The Act has made provisions for following different types of
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DRIVE- SPRING 2014
PROGRAM-MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2 — SEM 3 PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN — SEM 1
SUBJECT CODE & NAME- MB0050-RESEARCH METHODOLOGY
BK ID-B1700
CREDITS-4
MARKS-60
Q1. Briefly describe the different steps involved in a research process. Distinguish between descriptive and causal research studies.
(Meaning of research, Steps, Differences) 2, 5, 3 (10 marks)
Answer.
Meaning of research
The word research is composed of two syllables, ‘re’ and ‘search’. Search is defined as a verb meaning ‘to examine closely and carefully’, ‘to test and try’, or ‘to probe’. Together, they form a noun describing a careful, systematic, patient study and investigation in some field of knowledge, undertaken to establish facts or principles.
Q2. Distinguish between primary and secondary methods of data collection. Explain the Interview method of data collection
(Differences, Explanation of Interview method of data collection) 5, 5(10 marks)
Answer.
Differences between primary and secondary methods of data collection
The data collection methods may be classified into secondary and primary data methods. Primary data is original and collected first hand for the problem under study. There are a number of primary data methods available to the researcher like interviews, focus group discussions, personal/telephonic interviews/mail surveys and questionnaires.
Q3. a. Discuss four types of measurement scales with examples.
b. Briefly explain the concepts of reliability, validity and sensitivity.
(Meaning of Measurement scales and types of Measurement scales with examples, Explanation of the concepts of reliability, validity and sensitivity)5,5(10 marks)
Answer.
a) Meaning Types of Measurement Scales
The term ‘measurement’ means assigning numbers or some other symbols to the characteristics of certain objects. Scaling is an extension of measurement. Scaling involves creating a continuum on which measurements on objects are located. There are four types of measurement scales–nominal, ordinal, interval and ratio.
Q4. a. Distinguish between:
i. Schedules and Questionnaires
ii. Open ended and closed ended questions
b. What are the different modes of administering a questionnaire? What are the conditions that merit the use of one over the other? Discuss by using suitable examples.
(Differences, Modes of administering a questionnaire) 4, 6(10 marks)
Answer.
a) Differences
i) Schedules and Questionnaires
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S.No
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Questionnaire
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Schedule
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1.
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Questionnaire is generally sent through mail to informants to be answered as specified in a covering letter, but otherwise without further assistance from the sender.
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A schedule is generally filled by the research worker or enumerator, who can interpret the questions when necessary.
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2.
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Data collection is cheap and economical as the money is spent in preparation of questionnaire and in mailing the same to respondents.
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Data collection is more expensive as money is spent on enumerators and in imparting trainings to them. Money is also spent in preparing schedules.
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Q5. a. What is the analysis of variance? What are the assumptions of the technique? Give a few examples where the techniques could be used.
b. The following data represents the number of units produced by four operators during three different shifts:
Perform a two-way analysis of variance and interpret the result.
(Meaning, Assumptions and examples, Formulas, Calculation, Solution and Interpretation to the problem) 4, 6(10 marks)
Answer.
a) Meaning of analysis of variance
Suppose we know that the sales of a product is influenced by the price level. In this case, sales are a dependent variable and the price is the independent variable. Let there be three levels of price, namely, low, medium and high. We wish to determine the most effective price level i.e. at which price level the sale is highest. Here, the test units are the stores which are randomly assigned to the three treatment level. The average sales for each price level is computed and examined to see whether there is any significant difference in the sale at various price levels. The statistical technique to test for such a difference is called analysis of variance (ANOVA).
Q6. Explain the three basic principles of professional ethics that any research must follow. How do you follow an ethical practice while collecting information from the respondents?
(Basic principles of professional ethics, Ethical codes related to respondents)6, 4(10 marks)
Answer.
Basic principles of professional ethics
Professional special educators are guided by the CEC professional ethical principles and practice standards in ways that respect the diverse characteristics and needs of individuals with exceptionalities and their families. They are committed to upholding and advancing the following principles:
A. Maintaining challenging expectations for individuals with exceptionalities to develop the highest possible learning outcomes and quality of life potential in ways that respect their dignity, culture, language,
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