Business Law
1. Explain which type of contract does an Insurance falls under. Also, please explain the features of such contract along with rights of an Insurer and Insured vis-à-vis the type of contract entered.
2. Competition law is a specific law which was passed in 2002 and called as “The Competition Act”. It aims at promoting sustainable competition between the various market parties and protect the interests of customers. It also ensures that the freedom to carry out a trade by each party in the market is maintained. It avoids any player from carrying out any activities which have an “adverse appreciable effect on the competition”. Under this law, the Competition Commission of India has been established which is aimed at preventing those activities that have an adverse effect on competition in India. Please describe atleast 2 cases in which Competition Commission of India has prevented adverse effect on competition in India. (For each case please present an introduction, facts and the order passed in the case) (10 Marks)
3. Amar had gone to buy Crockery from a Mall. He impulsively selected the crockery from the display area and proceeded to the billing counter. The crockery was from the stock clearance sale and therefore there was no guarantee or warranty on the goods. He paid the amount and left the Mall. Upon exiting the mall he realized that the crockery selected by him suffered from some defects. He went back to the shop and asked to replace the goods, the shopkeeper refused stating that there was no guarantee or warranty and hence was not liable to replace or give any refund. Please advise Amar
a. Can Amar insist on his claim to replace the goods. Please give reasons for your answer and explain the underlying legal principle. (Please provide an introduction, to your answer along with reasoning and underlying principle)
b. Assuming, “if Amar had not selected the goods but had informed the shopkeeper about his requirement and based on such requirement Amar was provided with crockery”. Would such assumption have any affect to claim of Amar. (Please provide an introduction, to your answer along with reasoning)
1. Explain which type of contract does an Insurance falls under. Also, please explain the features of such contract along with rights of an Insurer and Insured vis-à-vis the type of contract entered.
2. Competition law is a specific law which was passed in 2002 and called as “The Competition Act”. It aims at promoting sustainable competition between the various market parties and protect the interests of customers. It also ensures that the freedom to carry out a trade by each party in the market is maintained. It avoids any player from carrying out any activities which have an “adverse appreciable effect on the competition”. Under this law, the Competition Commission of India has been established which is aimed at preventing those activities that have an adverse effect on competition in India. Please describe atleast 2 cases in which Competition Commission of India has prevented adverse effect on competition in India. (For each case please present an introduction, facts and the order passed in the case) (10 Marks)
3. Amar had gone to buy Crockery from a Mall. He impulsively selected the crockery from the display area and proceeded to the billing counter. The crockery was from the stock clearance sale and therefore there was no guarantee or warranty on the goods. He paid the amount and left the Mall. Upon exiting the mall he realized that the crockery selected by him suffered from some defects. He went back to the shop and asked to replace the goods, the shopkeeper refused stating that there was no guarantee or warranty and hence was not liable to replace or give any refund. Please advise Amar
a. Can Amar insist on his claim to replace the goods. Please give reasons for your answer and explain the underlying legal principle. (Please provide an introduction, to your answer along with reasoning and underlying principle)
b. Assuming, “if Amar had not selected the goods but had informed the shopkeeper about his requirement and based on such requirement Amar was provided with crockery”. Would such assumption have any affect to claim of Amar. (Please provide an introduction, to your answer along with reasoning)
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