Business Laws and Business Correspondence and Reporting - June 2023

2. (a) As per the general rule, "Stranger to a contract cannot file a suit in case of breach of contract". Comment and explain the exceptions to this rule as per the provisions of the Indian Contract Act, 1872. 7 (b) Discuss the liabilities of Limited Liability Partnership (LLP) and its partners in case of fraud as per the provisions of the Limited Liability Partnership Act, 2008. 5 PMQ-H (3) PMQ-H

8. (a) Explain about the registration procedure of a partnership firm as prescribed under the Indian Partnership Act, 1932. (b) (i) Mr. A, the employer induced his employee Mr. B to sell his one room flat to him at less than the market value to secure promotion. Mr. B sold the flat to Mr. A. Later on, Mr. B changed his mind and decided to sue Mr. A. Examine the validity of the contract as per the provisions of the…

4. (a) Describe in brief the rights of the buyer against the seller in case of breach of contract of Sale. (b) P, Q and R are partners in a partnership firm. R retires from the firm without giving public notice. P approached S, an electronic appliances trader, for purchase of 25 fans for his firm. P introduced E, an employee of the firm, as his partner to S. S believing E and R as partners supplied 25 fans to…

(a) (@) An auction sale of the certain goods was held on 7 March, 2023 by the fall of hammer in favour of the highest bidder X. The payment of auction price was made on 8 March, 2023 followed by the delivery of goods on 10 March, 2023. Based upon on the provisions of the Sale of Goods Act, 1930, decide when the auction sale is complete. 2 (ii) Certain goods were sold by sample by J to K, who…

Distinguish between Void Contract and Voidable Contract according to the Indian Contract Act, 1872. (b) What are the rights of partners with respect to conduct of the business of a firm as prescribed under the Indian Partnership Act, 1932? 4 (©) ABC Private Limited is a registered company under the Companies Act, 2013 with paid up capital of ₹35 lakhs and turnover of ₹2.5 crores. Whether the ABC Private Limited can avail the status of a Small Company in accordance…

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