Business Laws and Business Correspondence and Reporting - September 2025

VG and Mr. PG were trading in unlisted shares for the last 3 seven years. They used to borrow funds from each other whenever required for any trade. Within a week’s time, they used to refund the money to each other:as per circumstances of the case. They were following this practice for the last five years. On 25% January 2025, Mr. PG wants to buy 20,000 shares of an unlisted company @ % 500/- each. But due to insufficiency of…

(a) (i) X< offered to sell Y a machine for % 5,00,000/-. Y refused to buy it 4 unless the machine is made into a running condition. X agreed to do the same but while the machine was being repaired, it was destroyed without the fault of any person. With reference to the relevant provisions of the Sale of Goods Act, 1930 examine whether X can recover the price from Y ? (ii) For the purpose of making uniforms for…

M/s M&M Associates was registered in 1985 by its three partners 7 namely Mr. X, Mr. Y and Mr. Z as the partnership at will. On 5“ January 2022, Mr. X, being a very senior partner of age 75 years decided to retire and transfer his shares in the firm to his grandson Mr. S, who was 17 years old at the time of the transfer. Mr. Y and Mr. Z were not interested but when they came to know…

4. (a) With reference to provisions of the Indian Contract Act, 1872, analyse the given situations and answer each of the following questions : (i) Mr. X visited a Cosmo Mega Mall at Nagpur, which has a variety 4 of items for day-to-day use. The mall has a self-service system. Mr. X took a basket, picked up ten different items of his choice, and reached the cashier for payments. The cashier accepted the price of nine items but did not…

Ms. § visits an electronic store and asks for a laptop suitable for 3 high-end graphic design work. The salesman recommends a specific model, assuring her that it will meet her needs. Relying on this advice, Ms. S purchases the laptop. However, after using it, she realises that the laptop lacks the necessary processing power and graphics capability for her work. Can Ms. S take legal action against the seller under the Sale of Goods Act, 1930 ? Justify your…

(i) Mr. K draws a bill of exchange payable 60 days after sight to Mr. 3 J. Mr. J holds the bill for 30 days before presenting it to Mr. N, the drawee, for acceptance. Mr. N accepts the bill upon presentation. Decide as per the provisions of the Negotiable Instruments Act, 1881, when does the maturity period of the bill commence ? (ii) A promissory note is made payable at a specific place on a fixed date, The holder…

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