GM06
Business Law and Corporate Governance
Assignment I
Assignment Code: 2014GM06B1 Last Date of Submission : 15th October 2014 Maximum Marks: 100
Attempt all the questions. All questions are compulsory and carry equal marks.
Section A
1. (a) Define free consent. What are the different flaws in consent? Explain them with the help of important and leading cases?
(b) “In cases of Equal guilt, the position of the defendant is better than that of the Plaintiff” Comment.
2. (a) What are the various ways in which a contract may be discharged?
(b) What remedies are available to an aggrieved party on breach of a contract ?
3. (a) Explain the nature of a contract of sale of goods and bring out clearly the distinction
between a sale and an agreement to sell.
(b) Distinguish between condition and warranty. Explain the rule of caveat emptor and state how far it is modified by implied conditions.
4. What are the provisions of Sale of goods act in regard to the passing of property in ascertained
goods, unascertained goods, Goods sold on approval or on sale or return.
Section B
Case Study
The Underwood Ltd. Agreed to sell to Burgh Castle Brick a condensing engine on Feb 19,2009. The engine was affixed to the soil, in the premises of the Underwood .It needed to be detached before being dispatched to Burgh by train to yarkmouth, a town in England. Certain parts of engine were sent on first On August 6th2009, while being loaded on to a railway track, the bed plate of engine broke.When the consignment reached Burge Castle, they refused to accept it as the engine was damaged.
After going through the facts, Answer the following questions-
(a) Whether the property had passed to the defendant at the time when the accident took place?
(b) Whether within the law on sales of goods act the seller is bound to do something to the goods to put them in a deliverable state?
(c) )As per your opinion what is the remedy the defendant was left with ?
GM06
Business Law and Corporate Governance
Assignment II
Assignment code: 2014GM06B2 Last Date of Submission : 15th November 2014
Maximum Marks: 100
Attempt all the questions. All the questions are compulsory and carry equal marks.
Section A
1. (a) Define negotiable instrument? Draw the specimen of three important
Negotiable Instruments.
(b) What is meant by dishonor by non-acceptance or dishonor by non-payment?
(c ) What are the penalties prescribed in the Negotiable instrument Act in case of dishonor of a cheque for insufficiency of funds in the account of the person issuing the cheque?
2. (a) Classify the companies on the basis of liability,On the basis of number of members and on the basis of control.
(b) Define “Prospectus “. When a company not required to issue a prospectus? Also explain the liabilities for mis-statement in the prospectus?
3. What do you mean by Winding up of a company? What are the different modes of winding up.
4. (a) Define Stakeholders theory applied in Corporate Governess And mention features of Sarbanes Oxley Act 2002.
(b) Explain the Satyam case as a failure of corporate governance system and compare it with Enron case of USA .
Section B
Case Study
Mr. Wall, as the secretary of East Holyford Mining Co, signed a letter to its Bank, forwarding a resolution of the board of directors. The resolution named three directors, and instructed the bank to pay cheque signed by any two of them and countersigned by the secretary. Specimen signatures were attached. The instructions were entirely in accordance with the company’s memorandum of article. However there had never been any proper appointment of directors or a secretary by the company. Those who had formed the company had assumed these roles .Following the letter,the bank had honoured the cheques in accordance with the instruction contained in the letter.
Please answer the questions below-
(a) Whether the company was bound by the cheques?
(b) Whether the bank be bound in exercise of ordinary care and precaution,to know whether or not that company is actually carrying on transacting business or not.
(c) In the light of this case explain the benefit of the doctrine of indoor management.
(d) Who will be asked to compensate the loss of the Bank
Business Law and Corporate Governance
Assignment I
Assignment Code: 2014GM06B1 Last Date of Submission : 15th October 2014 Maximum Marks: 100
Attempt all the questions. All questions are compulsory and carry equal marks.
Section A
1. (a) Define free consent. What are the different flaws in consent? Explain them with the help of important and leading cases?
(b) “In cases of Equal guilt, the position of the defendant is better than that of the Plaintiff” Comment.
2. (a) What are the various ways in which a contract may be discharged?
(b) What remedies are available to an aggrieved party on breach of a contract ?
3. (a) Explain the nature of a contract of sale of goods and bring out clearly the distinction
between a sale and an agreement to sell.
(b) Distinguish between condition and warranty. Explain the rule of caveat emptor and state how far it is modified by implied conditions.
4. What are the provisions of Sale of goods act in regard to the passing of property in ascertained
goods, unascertained goods, Goods sold on approval or on sale or return.
Section B
Case Study
The Underwood Ltd. Agreed to sell to Burgh Castle Brick a condensing engine on Feb 19,2009. The engine was affixed to the soil, in the premises of the Underwood .It needed to be detached before being dispatched to Burgh by train to yarkmouth, a town in England. Certain parts of engine were sent on first On August 6th2009, while being loaded on to a railway track, the bed plate of engine broke.When the consignment reached Burge Castle, they refused to accept it as the engine was damaged.
After going through the facts, Answer the following questions-
(a) Whether the property had passed to the defendant at the time when the accident took place?
(b) Whether within the law on sales of goods act the seller is bound to do something to the goods to put them in a deliverable state?
(c) )As per your opinion what is the remedy the defendant was left with ?
GM06
Business Law and Corporate Governance
Assignment II
Assignment code: 2014GM06B2 Last Date of Submission : 15th November 2014
Maximum Marks: 100
Attempt all the questions. All the questions are compulsory and carry equal marks.
Section A
1. (a) Define negotiable instrument? Draw the specimen of three important
Negotiable Instruments.
(b) What is meant by dishonor by non-acceptance or dishonor by non-payment?
(c ) What are the penalties prescribed in the Negotiable instrument Act in case of dishonor of a cheque for insufficiency of funds in the account of the person issuing the cheque?
2. (a) Classify the companies on the basis of liability,On the basis of number of members and on the basis of control.
(b) Define “Prospectus “. When a company not required to issue a prospectus? Also explain the liabilities for mis-statement in the prospectus?
3. What do you mean by Winding up of a company? What are the different modes of winding up.
4. (a) Define Stakeholders theory applied in Corporate Governess And mention features of Sarbanes Oxley Act 2002.
(b) Explain the Satyam case as a failure of corporate governance system and compare it with Enron case of USA .
Section B
Case Study
Mr. Wall, as the secretary of East Holyford Mining Co, signed a letter to its Bank, forwarding a resolution of the board of directors. The resolution named three directors, and instructed the bank to pay cheque signed by any two of them and countersigned by the secretary. Specimen signatures were attached. The instructions were entirely in accordance with the company’s memorandum of article. However there had never been any proper appointment of directors or a secretary by the company. Those who had formed the company had assumed these roles .Following the letter,the bank had honoured the cheques in accordance with the instruction contained in the letter.
Please answer the questions below-
(a) Whether the company was bound by the cheques?
(b) Whether the bank be bound in exercise of ordinary care and precaution,to know whether or not that company is actually carrying on transacting business or not.
(c) In the light of this case explain the benefit of the doctrine of indoor management.
(d) Who will be asked to compensate the loss of the Bank
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