RAK Midterm Fall 2025 Question Paper

Daffodil International University Faculty of Business and Entre prene urship De partment of Business Administrat ion Program: BBA PART - A ( 3+3 +4 =10) Question: 3 (Answer all the question s) 1 . Define the following te rms with e xamples : (a) Past Consideration (b) Implied Contract (c) Acceptance (CLO 1, Level I ) 3 2. "Explain the statement ‘All contracts are agreements, but all agreements are not contracts’ by referring to the essential elements required for a valid contract. (CL02, Level II ) 3 3 . “ A contract generally requires something in return to be valid, yet there a re situations where these requirement is overlo o ked . ” Analyze the statement with examples of those situations. (CL O 4, Level IV) 4 PART - B (5x3=15) Question: 5 (Answer all the question s) 1 . An auction house advertised the sale of rare paintings. Mr. Karim traveled a long d istance to attend the auction , but the items were withdrawn before auction. He claims compensation, arguing the advertisement was a binding offe r. I s he entitled to compensation? Justify your an s wer . (CLO 3, Level III ) Semester: Fall , 2025 Examination: Midterm Time: 1 hour 30 minutes Full Marks: 25 Course code: 0421 - 215 Course title: Business Law Teacher's Name: RAK Section: 67(A - G)