Discuss the common features of a promissory note, bill of exchange and cheque

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2. Business Law Q1.a) What is a breach of contract? b) What do you understand by an anticipatory breach of contract? c) State the rights of the promise in case of anticipatory breach. Q2.a) State the effect of death, insanity and insolvency of the principal or agent on a contract of agency. b) When does termination of agency takes effect? c) When is an agency irrevocable? Q3.Discuss the common features of a promissory note, bill of exchange and cheque. Q4. a) What is meant by maturity of an instrument? b) What is meant by day of grace? c) Explain the provision relating to the calculation of date of maturity

3. Q5.Explain with example the doctrine of supervening impossibility. Q6.a) What are the agreements by way of wager? b) State the legal effect of such agreements. c) Is a contract of insurance a wager? Q7.“No action is allowed on an illegal agreement. ”Comment and state the exceptions (if any) to this rule. Q8.a) Define Coercion. b) State the effect of Coercion on the validity of a contract. c) Does the threat of commit suicide amount to Coercion? d) On whom the burden of proof lies in case of Coercion

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