Mb0051 Solved Assignment Fall 2013

 

Sikkim Manipal University - MBA - MB0051 – Legal Aspects of BusinessSemester: 3 - Assignment Set: 1

c)

Injunction.

When a contract has been breached, the party who suffers by such breach is entitled toreceive, from the party who has breached the contract, compensation for any loss or damagecaused to him thereby, being loss or damages which naturally arose in the usual course of things from such breach or which the parties knew, when they made the contract, to be likelyto result from the breach of it. Such compensation is not to be given for any remote andindirect loss of damage sustained by reason of the breach.A person who rightfully rescinds a contract is entitled to compensation for any damage, whichhe has sustained through non-fulfillment of the contract.

Liquidated damages and penal stipulations:

If a sum is named in the contract as the amount to be paid in case of breach of contract, or if the contract contains any other stipulation by way of penalty, the party complaining of thebreach is entitled, whether or not actual damage of loss is proved to have been causedthereby, to receive, from the party who has broken the contract, reasonable compensation, notexceeding the amount so named or the penalty stipulated for.A stipulation for increased interest from the date of default may be regarded as a stipulation by “way of penalty”. The court is empowered to reduce it to an amount which is reasonable in thecircumstances.

Specific performance:

In certain special cases (dealt with in the Specific Relief Act, 1963), the court may directagainst the party in default “specific performance” of the contract, that is to say, the party maybe directed to perform the very obligation which he has undertaken, by the contract. Thisremedy is discretionary and granted in exceptional cases. Specific performance means actualexecution of the contract as agreed between the parties. Specific Performance of any contractmay, in the discretion of the court be enforced in the following situations

When there exists no standard for ascertaining the actual damage caused by the non-performance of the act agreed to be done; or

When the act agreed to be done is such that monetary compensation for its non-performance would not afford adequate relief.

Instances where compensation would be deemed adequate relief are:

Agreement as a consequence of a breach by a landlord for repair of the rentedpremises;

Contract for the sale of any goods, for instance machinery or goods.

Exceptions:

A contract which runs into such minute or numerous details or which is so dependent on thepersonal qualifications or volition of the parties, or otherwise from its nature is such, that thecourt cannot enforce specific performance of its material terms, cannot be specifically enforced.

Bhupinder Singh Reg. No. 521063004 Page 3 of 9

SMU MBA WINTER 2015-2016 solved Assignments are available

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SMU MBA WINTER 2015 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420 or S M S your “ Email ID ” us in the following Format “ On +91 9995105420 we will reach back you with in 24H ”

 

 

ASSIGNMENT

DRIVEWINTER 2015
PROGRAMMBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 3
SUBJECT CODE & NAMEMB 0051

LEGAL ASPECTS OF BUSINESS

BKIDB1725
CREDIT4
MARKS60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

Q.NoQuestionMarksTotal Marks
1Narrate the exceptions to the rule “No consideration no contract”

How is a contract discharged ?

Exception to the rule, “No consideration no contract”

Discharge of a contract

5

 

5

 

10

2Narrate the rights and liabilities of a surety in a contract of guarantee.
Rights and liabilities of a surety in a contract of guarantee1010
3When and how is a partnership and firm get dissolved ?
Dissolution of partnership and firm1010
4Narrate the Latin maxim “Nemo dat quod non habet” and its exceptions in sale of Goods Act 1930.

A sells certain goods to B and promises to deliver the goods on the next day. But before delivery A sells and delivers the goods to C who buys those in good faith and without knowledge of the prior sale to B.

Explain B’s remedy in such circumstances.

A, B and C are three brothers who owned a 3-story building, each of them agreed to share a floor. The building was constructed by the supervision of A, who had a general power of attorney given by B and C. A, B and C contributed equally to the construction of the property.

C was staying abroad and was supposed to occupy his flat at a later date. Meanwhile A sells

C’s flat to X by virtue of the general power of attorney. Give your comments.
 

 

Narrate  the  Latin  maxim  “Nemo  dat  quod  non

 

 

5

 

10

habet” and its exceptions in sale of Goods Act 1930.
A sells certain goods to B and promises to deliver
the goods on the next day. But before delivery A2
sells and delivers the goods to C who buys those in
good faith and without knowledge of the prior sale
to B.
Explain B’s remedy in such circumstances.
A, B and C are three brothers who owned a 3-story3
building, each of them agreed  to share a floor. The
building was constructed by the supervision of A,
who had a general power of attorney given by B and
C.      A,   B   and   C   contributed   equally   to   the
construction of the property.
C was staying abroad and was supposed to occupy
his flat at a later date. Meanwhile A sells C’s flat to
X by virtue of the general power of attorney.
Give your comments.
5Section16 of the Companies Act, 2013 provides the rules for alteration of Memorandum of Association. Explain the rules.
Explain the rules for alteration of clauses in Memorandum of Association as per Section 16 of Companies Act, 20131010
6Narrate the prohibition of anti-competitive agreements and abuse of dominant position as per Competition Act, 2002.
Prohibition of anti-competitive agreements5 

10

Prohibition of Abuse of dominant position5

 

 

 

 

SMU MBA WINTER 2015-2016 solved Assignments are available

Dear Students,

SMU MBA WINTER 2015 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420 or S M S your “ Email ID ” us in the following Format “ On +91 9995105420 we will reach back you with in 24H ”

 

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