This question paper contains 7 printed pages.

4350 ' Your Roll f:lo . ................................ ..

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LL.B. / VI Term ' · I

Paper LB-603 2- INSUR ANCE AND BANKI NG

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Time : 3 hours Maximum Marks : 100

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, Attemp~ any five questions. .· _. · .. i

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1. "It is true of'all types' of insurance COI?,tracts·that it is .

the ~uty of both the_parties .to help _each other. in · .
reaching a right .conclusi~n, by disclo~ing all . material · .
· fact~ relating to the cont~act of in~ura_nce and not to
.- hold each other ·at arm's length in .defence of their ..
conflictirig inter es ts:" With the .help •of ·d~cided cases ·'
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. . expla,i n the n~·t ur~ and scope· of this duty. What could
. be the consequences, if this.dutY, is not.carried ?ut? . ·_
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2~ (a) Explain ~ ~J'%Jls ~ ,applicab1e ·: _.'(or ·:·. prope~ '·.
: ~ ·._ . ·. · constructio•n ··ar insura~ce poHcies>_,-:-:-~·-_._ ~...; : .· .-.';·.-< >~:-/-·
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·. : _ · (b) A ~~s ~~d-. runs· a sh~p wher~ ~~11s electr n1. ·
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· ·year '2017 for a period 'Of o_n e. ye~r. o~~

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' . clauses: of the insurance c9ntract- tat .'. · , "No ·

inflamuiable _. ma't eiiaf- ~half-. be 'ke . { .~f st~re~·fl. in ·
the shop". The .shop was:g~ttedfiy· 1r on-January'·
'1, 2018.· It ~as_found ~ut>tiiat~: at-the .-time.· when ·,· .
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-~ire _broke . o_u_t,,: a ~ooking _s~ove_Jvas 'kept '-in· 'the:,

shop· for :.making· tea for workers which co.:n tained ..
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a ~ery s~all_quant,1ty of ~eroserie· oil.- ,~lain .the.
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, po~sibi.lity of A ge~_ting -insura~ce c!aim.~: . : ._.:.- ., ·_,
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. 3. "Sect ion 13 oft e ·Negotiable Inst:ruments Ac~/ 1881 -
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confe rs . pfo~ect~on to a :coll~cti~g ·: b:an~er: re~iv i~g ,

a
paym ent of chequ e in case the title. of dje customer_ · :-. . _,
.is ·prove d .defe~tive. ;, State ~he essential"requirements . . · .
for claiming s~ch protecH9n. ·D.iscuss .~!·h .the he_ lp of ..
decided :-_cases ·_the standard ·o f ca·re·.· ~xpected -o(' a-
. : . . collect,i~g banker to 'enjlble it io claj_~ .t~.J, prote cti9n.'·. ;' ·
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. ($ g· 5 4350

cheques fqr insufficiency of funds in the Account" in

the Act.

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. 7. (a) Discuss· the . essential ch~racteristics of a valid
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(b) Decide the type and · v~lidity .9f, t~e ; following
instruments: · · · ·· · · - · ··

Rt:f fct~oo· -~~a~ cl~rR'-lfRa c:hlf\ll({: . ·..

·(i) · "I promise to pay the _bearer Rs. 5000 on
.· demand._"_ lj_Q2 '.. .
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- ~-_'if ~ .en) lfrlR. lR. 500~· ~o . ~;t_cliT -~llfGI
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(ii) A leaf from the_cheque-b~o~ containing the · .
.Ian.guage "Pay A or Order· Rs. 5000" and-- ·
dated 1-1-2020. ~
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~~ cliT ,llcn q;;rr ~ ~~ · fcl&I -~ "Pay A ··

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P. T. 0.

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or . order ·Rs. 5000" o2TT -aR1{§ 1-1-2020

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 31'lTffi qiR'IJJ (Causa Proxima) ~ ~
(e) Power of Reserve Bank of India to grant or refuse
a license u/s 22 of the Banking Rc::gulatiOn Act,
194~. .

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