mba 302 legal aspects of business 3rd sem mba fall 2017 smu solved assignments
TRANSCRIPT
MBA 302 Legal Aspects of Business
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1 What is fiduciary relationship in a contract of guarantee? Explain the kinds of
guarantees.
Fiduciary relationship
Answer: A contract of guarantee is not a contract “Uberrimae fidei” (requiring utmost good faith).
Nevertheless, the suretyship relation is one of trust and confidence and the validity of the contract
depends on the good faith of the creditor.
2 i) Do you think contract with a minor is valid? Narrate with the help of the facts and
judgement in the case: Mohori Bibee v. Dharmodas Ghose.
Answer: Minors’ contracts
The law protects minors against their own inexperience and the possible improper designs of
those who are experienced.
ii) Explain the rules and remedies for discharge of contract by breach
Answer: Discharge of contract by breach
A breach of contract is one party’s failure to live up to the promises under a contract without
a legal excuse. If the promisor has not performed his/her promise in accordance with the
terms of the contract or where the performance is not excused by tender, mutual consent or
impossibility or operation of law,
3 i) Narrate the facts and judgement in the case Howell vs. Coupland.
Answer: Howell vs. Coupland
In this case, the seller agreed to sell 200 tonnes of potatoes to be grown by him, to the buyer at £2 a
ton.
ii) Who is an unpaid seller? What are the rights enjoyed by an unpaid seller under the
extant provisions of law?
Answer: Who is an unpaid seller?
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SET-2
1 “The Banking Regulation Act, 1949, provides various methods of regulation of the
banking business”. Elaborate the key areas of regulation.
2 Explain the nature and scope of complaints under the Consumer Protection Act?
Answer: To provide simple, speedy and inexpensive redressal of consumer grievances, the Act
envisages three-tier quasi-judicial machinery at the district, state and national levels. At the district
level, the redressal forum is called as District Forum.
3 a) Differentiate between a holder and a holder in due course.
b) Explain the privileges enjoyed by a holder in due course
Answer: a) Holder and Holder in Due Course
According to Section 8, a holder of a negotiable instrument is the person who has
possession of instrument and the right to recover the monies due (i.e., possession under
legal title). Only the holder can give valid discharge of a negotiable instrument.
Dear students to get solved assignments of
SMU MBA FALL 2017 call us at 8510092683 or
mail us at [email protected]