Business Laws and Business Correspondence and Reporting - January 2021

Mr. S aged 58 years was employed in a Govt. Department. He was 4 going to retire after two years. Mr. D made a proposal to Mr. S to apply for voluntary retirement from his post so that Mr. D can be appointed in his place. Mr. D offered a sum of % 10 Lakhs as consideration to Mr. S in order to induce him to retire. Mr. S refused at first instance but when he evaluated the amount ’…

4. (a) What are the differences between a ‘Condition’ and ‘Warranty’ in a 6 contract of sale ? Also explain, when shall a ‘breach of condition’ be treated as ‘breach of warranty’ under provisions of the Sale of Goods Act, 1930 ? ; (b) M,N and P were partners in a firm. The firm ordered JR Limited to 6 supply the furniture. P dies, and M and N continues the business in the firm’s name. The firm did not give…

(a) Mr. T was a retail trader of fans of various kinds. Mr. M came to his 6 shop and asked for an exhaust fan for kitchen. Mr. T showed him different brands and Mr. M approved of a particular brand and paid for it. Fan was delivered at Mr. M’s house; at the time of opening the packet he found that it was a table fan. He informed Mr. T about the delivery of the wrong fan. Mr. T…

6. (a) The general rule is that an agreement without consideration is void. 5 Discuss the cases where the agreement though made without consideration will be valid and enforceable as per Indian Contract Act, 1872. (b) Discuss the liability of a partner for the act of the firm and liability of 4 firm for act of a partner to third parties as per Indian Partnership Act, 1932. (c) SK Infrastructure Limited has a paid-up share capital divided into 3 6,00,000…

7. (a) Read the passage carefully and answer the questions given below : Success of any organization depends on offering quality products at competitive prices. All over the world, it is being realized that quality control be ensured through inspection and test alone. Every department and individual has a contribution to make in the achievement of quality. Quality product at competitive prices is the most significant factor in determining the long - run success of any organization. High quality of…