SPRING-2018
Get solved
assignments at nominal price.
Mail us at: subjects4u@gmail.com or contact at
08894344452, 8219081362
Master of
Business Administration- MBA Semester 3
MBA302 - Legal
Aspects of Business
Q1. What is fiduciary relationship in
a contract of guarantee? Explain the kinds of guarantees.
Answer. Special relationship of trust and
confidence which, in the words justice Benjamin Nathan Cardozo (1870-1938; US
Supreme court judge from 1932 to 1938) is "something more than the
ordinary honor of the marketplace, the very punctilio of honesty and
forthrightness." Fiduciary relationships exist between an agent and
principal, testator and trustee, testator and executor, ward and guardian,
customer and bank, client and attorney, patient and doctor, partner and
partner, stockholders (shareholders) and
Q2. i) Do you think contract with a
minor is valid? Narrate with the help of the facts and judgement in the case:
Mohori Bibee v. Dharmodas Ghose.
ii) Explain the rules and remedies
for discharge of contract by breach
Answer.
According to Section 2(B) of the Indian Contract Act, 1872, when the
person to whom the proposal is made signifies his assent thereto, the proposal
is said to be accepted. A proposal, when accepted, becomes a promise.
Judgement
On July 20,
1895, the respondent, Dharmodas Ghose, executed a mortgage in favour of Brahmo
Dutt, a money-lender carrying on business at Calcutta and elsewhere, to secure
the repayment of Rs. 20,000 at 12
Q3. I.) Narrate the facts and
judgment in the case Howell vs. Coupland.
ii) Who is an unpaid seller? What are
the rights enjoyed by an unpaid seller under the extant provisions of law?
Answer. Case study: Howell vs. Coupland
The
“principle” in Howell v Coupland
1. It is
generally thought that section 7 of the Act was formulated in reliance on the
decision of the CA in Howell v Coupland (1876) 1 QBD 258.D agreed to sell 200
tons of potatoes to be grown on a particular field. The crop failed so that the
defendant was able to deliver only 80 tons. It was held that he was relieved of
the obligation to deliver the further 120 tons by reason of impossibility of
performance. The CA upheld the judge’s decision holding that:
The true
ground on which the contract should be interpreted is that by the simple and
obvious construction of the agreement both parties understood and agreed, that
there should be a condition implied that before the time for the performance of
the contract the potatoes should be, or should have been in existence, and
should still be existing when the time came for performance. It was not an
absolute contract of delivery under all circumstances, but a contract to
deliver so many potatoes, of a particular
SET - 2
Q1. The Banking Regulation Act, 1949,
provides various methods of regulation of the banking business. Elaborate the
key areas of regulation.
Answer. Regulation of business
The Banking
Regulation Act, 1949 is legislation in India that regulates all banking firms
in India. Initially, the law was applicable only to banking companies. But, 1965
it was amended to make it applicable to cooperative banks and to introduce
other changes.
As per
Section 5(c) of the Banking Regulation Act, 1949 a "Banking Company"
means any company which transacts the business of banking in India.
Explanation:
Any company which is engaged in the manufacture of goods or carries on any
trade and which accepts the deposits of money from public merely for the
purpose of financing its business as such
Q2. Explain the nature and scope of
complaints under the Consumer Protection Act?
Answer. Consumer Protection Act, 1986 is an
Act of the Parliament of India enacted in 1986 to protect the interests of
consumers in India. It makes provision for the establishment of consumer
councils and other authorities for the settlement of consumers' disputes and
for matters connected therewith also.
Consumer
Protection Councils are established at the national, state and district level
to increase consumer awareness.
Q3. a) Differentiate between a holder
and a holder in due course.
b) Explain the privileges enjoyed by
a holder in due course
Answer. Holder: Holder is the person who is
entitled in his own name to the possession of a negotiable instrument.
Ø Normally a payee or endorsee is a
holder.
Ø Holder may be or may not be with
possession of the Instrument.
Ø If the payee or endorsee dies, then
the legal heir is the holder.
Ø If there is a forged endorsement
then, last endorsee is the holder.
SPRING-2018
Get solved
assignments at nominal price.
Mail us at: subjects4u@gmail.com or contact at
08894344452, 8219081362
No comments:
Post a Comment