Business Laws/ Legal Aspects of Business

 
MBA Assignment A

Question1.  “The fundamental attribute of corporate personality is that company is a legal entity distinct from the members.”Elucidate the statement .Also specify the important features of a company.

Question2. Elaborately explain the essential features of the consumer protection act 1986. Also briefly discuss unfair trade practice and restrictive trade practice as discussed under consumer protection Act?

Question3. What are the characteristics of negotiable Instrument? Discuss the ‘privileges’ of holder in due course as per the provisions of the Negotiable Instruments Act, 1881? Also state the important amendment to be incorporated under sec 138 of the act.

Question4. Discuss the essential elements of a valid contract.

Question5. Write short notes on any three of the following.

(a)“A stranger to the consideration can enforce the contract”. Explain the exceptions in the following.

i-    Supervening Impossibility

ii-   Novation

(b)Anticipatory breach of Contract

(c) A private company has only 2 shareholders who are also the directors with equal rights of management and voting power. The company has made large profits, but there is a complete deadlock in the management of the company. One of the shareholders applied for the winding up of the company. Decide at what moment does a winding up by the court commence?

(d)   What is a ‘Prospectus’? Is it obligatory for a company to file a prospectus or a statement in lieu of prospectus with the Registrar of Companies?

(e)   What is meant by the rule of ‘Caveat Emptor’ and what are its exceptions?

Question6. Explain – ‘different modes of crossing of a cheque’ and section 138 as per the provisions of the Negotiable Instrument Act, 1881.

Question7. “A company is a legal person distinct from its members taken individually or collectively”. Comment. Also detail the important features of a company.

Question8. Discuss consumer dispute redressal forums & consumer councils with respect to its pecuniary (Financial) jurisdictions?

MBA Assignment B

Read the case study given below and answer the questions given at the end
Case Study
Aditya Mass Communication Private Limited Vs A.P. state Road Transport Corporation

A.P. State Road Transport Corporation, Hyderabad advertised tender notice on calling for tenders for display of advertisements on the buses owned by it. According to the condition of the Tender Notice, each tender form had to be accompanied by a demand draft for Rs 20 lakhs and tender forms completed in all respects had to be put in the tender box. The accompanying sum of money was the Earnest Money Deposit (E.M.D). Clause (10) of the terms provided that the tender will be opened at 3:00 p.m. on October 31, 1996, in presence of the tenderers or their authorized agents. Clause (14) provided that tenderers will not be permitted to withdraw their tender after the tenders were opened .Clause (15) provided that if the highest tenderer backs out from taking up the agency , for whatsoever reason, the E.M.D. paid by him will be forfeited.

Aditya mass Communication Private Limited submitted its duly filled tender along with demand draft of Rs. 20 lakhs. In relation to this tender, another person approached the High Court and got an order restraining the Transport Corporation from proceeding further with the tender. Following the order, the A.P. State Road Transport Corporation opened the tender box at 3 p.m. and found six sealed covers. In view of the directions of the High Court, the covers were again placed back in the tender box without opening the seals. The signature of the tenderers and their agents was taken to this effect .The tenders were not opened to find out the highest bidder. Aditya Mass Communication Private Limited wrote a letter on November 11, 1996 stating that no reasons were given to him for non-opening of the tenders and that he could not keep the huge amount of Rs 20 lakhs locked in with all the uncertainty associated with the tender. It, thus, requested for return of the Earnest Money Deposit. A.P. State Road Transport Corporation replied on November 14, 1996 that the Aditya Mass communication had signed on the note recording the proceedings of opening the tender box and putting back sealed covers. Thus, it could not put up the argument that no reasons for non-opening of the tender was given on it. The letter notified that the tenders would be opened on November 16, 1996 at 11:30 hrs. Aditya Mass Communication once again wrote a letter on November 15, 1996 that the question of their participation in the opening of tenders did not arise as they asked for the return of E.M.D. The A.P. State Road Transport Corporation went ahead with the opening of the tender, found Aditya Mass Communication to be the highest bidder and awarded the tender to it. Aditya Mass Communication was informed of this but it demanded refund of Earnest Money Deposit. The A.P. State Road Transport Corporation following the terms of tender forfeited the earnest money deposit of Aditya Mass Communication.

 

Question 1. Elaborately state the important legal issue/s covered under this case.

Question 2. What are the essential features of a tender?

Question 3. Give your reasons in support of your decision for the issue discussed in this case.

 

MBA Assignment C

1. Annual – general Meeting is required to be held-
2. An acceptance is complete and effective only when it has been-
3. Name of a company can be changed by passing a special resolution and with the approval of-
4. Which of the following is a mode of discharge of contract-
5. Limited liability means liability of its-
6. In a contract of sale, property means-
7. The goods which are yet to be acquired by the seller, are called-
8. A contract becomes voidable if it has been caused by-
9. If the goods have perished, the contract of sale of such specific goods, will become-
10. Articles can be altered by-
11. A contract entered into between the parties by words is called-
12. Acceptance of an offer is complete as against the offeror as soon as-
13. If a company fails to pay its debts suit can be filed against the-
14. A contract with a minor is-
15. Who is liable for the supply of necessaries to a minor-
16. A prospectus is issued-
17. When, before the contract becomes due for performance, the promisor declares his intention of not performing his promise, it is called-
18. A bailment cannot be made about-
19. The damages which arise in the usual course of things happening from the breach of contract, are called-
20. When a person is employed to represent another in dealings with third person, it is a contract of-
21. Which of the following is not an essential element of a contract of sale-
22. In return for a new television, Raju agrees to give his old television valued at Rs. 3,000 and an amount of cash worth Rs. 5,000 to Ganesh. This is a-
23. Which of the following rights is held by an unpaid seller-
24. After exercising the right of lien, the seller can resell the goods of perishable nature-
25. Which of the following is not a remedy for breach of contract-
26. A contract by which one party promises to save the other from loss is called-
27. Surety’s liability is-
28. Crossed cheques payable to bearer are negotiated by-
29. In a contract of sale, which of the following is treated as implied condition-
30. Consideration must move at the desire of-
31. Which of the following does not relate to ‘termination of agency by operation of law’-
32. Which of the following sentence is a valid promissory note-
33. A stipulation collateral to the main purpose of the contract, is called a-
34. A person who receives a negotiable instrument for consideration, before maturity, and in good faith, is called-
35. A director must vacate his office if he fails to obtain qualification shares within-
36. Which of the following rights are available to a finder of goods-
37. A private company has at least-
38. A cheque payable to order may be negotiated-
39. Which of the following endorsements is invalid-
40. When a cheque bears across its face an addition of the words “&” between two parallel transverse lines, it is called-

 

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