GM06 Business Law

Assignment No.I
Assignment Code: 2011GM06A1 Last Date of Submission: 31st March 2011 Maximum Marks:100

Attempt all the questions. All the questions are compulsory and carry equal marks.

Section-A Ques.1 Keshav, a singer, enters into a contract with India Habitat Centre to sing during dinner hours, at the latter’s restaurant every Monday, Wednesday and Friday for a period of three months. It is agreed that Keshav will be paid Rs.400 for each evening’s performance. The payment is to be made at the end of each month. This arrangement is to begin on Ist July and end on 30th Sept. On the last Friday of July, Keshav willfully absented himself. The management of IHC was furious. They now intend to a. cancel the contract (can cancel) b. make no payment to Keshav for the month of July (can't cut full payment ) c. claim compensation from the singer. (yes can claim…..) Can the management of IHC take these actions?

Effect of refusal of party to perform promise wholly
When a party to a contract has refused to perform, or disabled himself from performing, his promise in its entirety, the promisee may put an end to the contract,unless he has signified, by words or conduct, his acquiescence in its continuance\
a) payment of wages act, 1936 b) sec 75 of Indian contract act Ques. 2 Ques. 3 Ques. 4 Explain the circumstances under which a surety may be discharged from the liability by the conduct of the creditor. Explain what is meant by “Void”, “Voidable,” “Illegal”, and “Valid” contracts. Briefly refer to the rights of parties under such agreements. Discuss the different sources of Indian business law. Section-B

CASE: (a) A guest, arriving late for dinner at a Hotel, saw a number of ladies coats left in an ante-room which
was previously used as supervised cloak room. At that time however, there was no attendant in the room. Nevertheless, she left her mink coat with the other coats. Whilst she was dining, the coat was stolen. Is the hotel owner liable for the loss?

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and acting upon that representation I have done things whereby I am damaged unless I can hold somebody. The agent may come to me and say. his agent. with a bill of lading relating to certain goods and instructs B not to sell the goods for less than a certain price. Section-A Ques. Therefore the law gives me the right to hold A." and I may rely on that alone. and furthermore I cannot hold A. X (There may be a holding out by the agent. Discuss the issues involved and different view points pertaining to these issues. upon which the third persons relies.1 Ques. through him.) GM06 Business Law Assignment No. 2 of 3 . and none by the principal. on the contract. a merchant entrusts B.4 What are the grounds on which a tribunal may order winding up of a company? The country is presently witnessing a controversy regarding the composition of Boards of Directors of companies and the role of independent directors. Harbottle and state whether there are exceptions to this principle? Write short Notes on: a) Conditions and Warranties b) Bill of Exchange c) Protection to a paying banker d) Doctrines of ultra vires Ques. "I am P's agent for this purpose. the agent. In that case I cannot hold P if A was not authorized by P. and not to give credit to D. because I did not purport to make that contract with him.3 Ques. B sell the goods to D for less than that price and gives D three month’s credit advise A. Page No. Yet A has represented to me that he was P's agent.(b) A . but with P. II Assignment Code: 2011GM06A2 Last Date of Submission: 15th May 2011 Maximum Marks:100 Attempt all the questions.2 Discuss the principle laid down in the case of Foss Vs. upon a warranty by him that he has authority. All the questions are compulsory and carry equal marks. We will consider this liability and also the other cases of the agent's liability to third persons.

3 of 3 . Page No.Section-B What is meant by corporate Governance Discuss five major recommendations of CII. for desirable code of conduct for companies.