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Business Law and Corporate Governance

Assignment I
Assignment Code: 2014GM06B1 Last Date o
!u"mission : 1#
%cto"er 2014 Ma&imum Mar's:
Attempt a(( t$e )uestions* A(( )uestions are compu(sor+ and carr+
e)ua( mar's*
!ection A
1. (a) Defne free consent. What are the diferent faws in consent? Explain
them with the help of important and leading cases?
(b) !n cases of E"#al g#ilt$ the position of the defendant is better than
that of the %laintif& 'omment.
(. (a) What are the )ario#s wa*s in which a contract ma* be discharged?
(b)What remedies are a)ailable to an aggrie)ed part* on breach of a
contract ?
+. (a) Explain the nat#re of a contract of sale of goods and bring o#t clearl*
the distinction
between a sale and an agreement to sell.
(b) Disting#ish between condition and warrant*. Explain the r#le of ca)eat
emptor and state how far it is modifed b* implied conditions.
,. What are the pro)isions of -ale of goods act in regard to the passing of
propert* in ascertained
goods$ #nascertained goods$ .oods sold on appro)al or on sale or ret#rn.
!ection B
Case !tud+
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1he 2nderwood 3td. 4greed to sell to 5#rgh 'astle 5ric6 a condensing engine on 7eb
18$(998. 1he engine was a:xed to the soil$ in the premises of the 2nderwood .!t needed to
be detached before being dispatched to 5#rgh b* train to *ar6mo#th$ a town in England.
'ertain parts of engine were sent on frst ;n 4#g#st <
(998$ while being loaded on to a
railwa* trac6$ the bed plate of engine bro6e.When the consignment reached 5#rge 'astle$
the* ref#sed to accept it as the engine was damaged.
Ater going t$roug$ t$e acts, Answer t$e o((owing )uestions-
(a) Whether the propert* had passed to the defendant at the time when the accident
too6 place?
(b) Whether within the law on sales of goods act the seller is bo#nd to do something to
the goods to p#t them in a deli)erable state?
(c) )4s per *o#r opinion what is the remed* the defendant was left with ?
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Business Law and Corporate Governance
Assignment II
Assignment code: 2014GM06B2 Last Date o
!u"mission : 1#
.ovem"er 2014
Ma&imum Mar's: 100
Attempt a(( t$e )uestions* A(( t$e )uestions are compu(sor+ and
carr+ e)ua( mar's*
!ection A
1. (a) Defne negotiable instr#ment? Draw the specimen of three
/egotiable !nstr#ments.
(b) What is meant b* dishonor b* non=acceptance or dishonor b*
(c ) What are the penalties prescribed in the /egotiable instr#ment
4ct in case of dishonor of a che"#e for ins#:cienc* of f#nds
in the acco#nt of the person iss#ing the che"#e?
(. (a) 'lassif* the companies on the basis of liabilit*$;n the basis of
n#mber of members and on the basis of control.
(b) Defne %rospect#s . When a compan* not re"#ired to iss#e a
prospect#s? 4lso explain the liabilities for mis=statement in the
+. What do *o# mean b* Winding #p of a compan*? What are the
diferent modes of winding #p.
,. (a) Defne -ta6eholders theor* applied in 'orporate .o)erness 4nd
mention feat#res of -arbanes ;xle* 4ct (99(.
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(b) Explain the -at*am case as a fail#re of corporate go)ernance
s*stem and compare it with Enron case of 2-4 .

!ection B
Case !tud+

>r. Wall$ as the secretar* of East ?ol*ford >ining 'o$ signed a letter to its
5an6$ forwarding a resol#tion of the board of directors. 1he resol#tion named
three directors$ and instr#cted the ban6 to pa* che"#e signed b* an* two of
them and co#ntersigned b* the secretar*. -pecimen signat#res were
attached. 1he instr#ctions were entirel* in accordance with the compan*@s
memorand#m of article. ?owe)er there had ne)er been an* proper
appointment of directors or a secretar* b* the compan*. 1hose who had
formed the compan* had ass#med these roles .7ollowing the letter$the ban6
had hono#red the che"#es in accordance with the instr#ction contained in
the letter.
/(ease answer t$e )uestions "e(ow-
(a) Whether the compan* was bo#nd b* the che"#es?
(b) Whether the ban6 be bo#nd in exercise of ordinar* care and
preca#tion$to 6now whether or not that compan* is act#all* carr*ing on
transacting b#siness or not.
(c) !n the light of this case explain the beneft of the doctrine of indoor
(d) Who will be as6ed to compensate the loss of the 5an6
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