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GM06

Business Law and Corporate Governance


Assignment I
Assignment Code: 2014GM06B1 Last Date o
!u"mission : 1#
t$
%cto"er 2014 Ma&imum Mar's:
100
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 <
th
(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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GM06
Business Law and Corporate Governance
Assignment II
Assignment code: 2014GM06B2 Last Date o
!u"mission : 1#
t$
.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
important
/egotiable !nstr#ments.
(b) What is meant b* dishonor b* non=acceptance or dishonor b*
non=pa*ment?
(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
prospect#s?
+. 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
management.
(d) Who will be as6ed to compensate the loss of the 5an6
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