AURO UNIVERSITY

MBA 2014-16Semester - 2, Block - 4Mid TermLegal Aspects of Business

Duration: 60 Min. Total Marks: 50Weightage: 20%

Instructions:-

Please mention relevant cases/examples in support of your answers. ----------------------------------------------------------------------------------------------------------------

Theory

Part A

Fill in the blanks (2 marks each) (10 Marks)

1. Maximum _______ person can become partners in LLP.2. Tax rate on LLP is _______% & Maximum interest rate payable on capital is _____%3. DPIN stands for ______________4. Every decision of LLP to be recorded in minutes within ________ days.5. In LLP there shall be minimum ______ Designated Partners.

Part B

Difference between Partnership Firm & LLP (10 Marks)

P.T.O

Cases

Case 1 (10 Marks)

ABC is unregistered firm in Surat. It filed a suit against the ONGC for a commercial dispute. Whether the suit is sustainable? Yes/No Give the reasons for it.

Case 2 (10 Marks)

Ajay, Sanjay & Vijay (Minor) are the partners of a firm named Auro Enterprise. Vijay became major on April 1, 2014. He continues to be a partner of the firm till today. A files a suit for recovery of contract amount from Auro Enterprise. Whether Z can be personally liable for the amount ? Yes / No. Giver the reasons.

Case 3

Discuss Marwar Tant Factory v/s. Union of India (AIR 1990 SC 1753) (10 Marks)

********** End of Question Paper **********All the Best

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