Dear students, get latest Solved NMIMS assignments and case study help by professionals.
Mail us at : help.mbaassignments@gmail.com
Call us at : 08263069601
Business Law
September 2021 Examination
1. Please explain Clayton’s Rule of Appropriation by pointing out the relevant provisions of law. (10 Marks)
Ans 1.
Introduction
When it comes to business studies, the term “appropriation” refers to the process of saving a specified quantity of money for a specific purpose or requirement. For example, a business may elect to set aside a particular portion of profit to expand their operations or put the money aside for a disaster relief fund.
2. Explain in detail two (2) real-life cases where provisions of information have been denied on grounds of the exemption stated in Right to Information Act, 2005. (10 Marks)
Ans 2.
Introduction
Information can be defined as any correct data. Emails, public records, news releases, documents, reports, papers, and any other data material, whether in electronic or physical form, are all included in this category. Information is critical in the decision-making process as well as in the exchange of information between two parties. To make the best decision possible, a person needs to have access to the appropriate information.
3. Jean Valjean has an adventure sports equipment shop. This shop is the only adventure sports equipment shop in the city of Nagpur. Cosette, a young (adult) adventure enthusiast, intends to begin a startup by setting up an adventure sports equipment shop and adventure experience services like hiking, trekking, nature trail cycling, etc. Understanding Cosette as a competitor, Jean Valjean looks at an opportunity to tie up with Cosette, and both agree to the following deal and have signed a contract to that extent:
i. Both will divide the territory of Nagpur into two parts between themselves, and each one will sell and market in their respective territory only. In case of any sale queries coming from the other’s territory, they will inform them.
ii. Both will share the price list and adhere to the price. In other words, neither of them will sell below the price.
iii. They will create an adventure certification program and tie-up with Nagpur local authorities for endorsement. This program will be made compulsory for anyone starting a shop, outlet, or startup for adventure sports equipment in Nagpur.
a) Is the Agreement between Jean Valjean and Cosette valid or illegal? Please support your answer with reasons and legal provisions (5 Marks)
Ans 3a.
Introduction
An agreement is a legally binding contract that outlines the facts, policies, rules, and laws that two parties have agreed to adhere to. In an agreement, we can write down and record the responsibilities that each side is responsible for. We formalize the arrangement by signing the contract that outlines the terms of the agreement.
b) Which authority has the jurisdiction to decide the legality of such transactions and what are the powers of such authority (5 Marks)
Ans 3b.
Introduction
A country’s judicial authority or the powers of legal entities are referred to as its jurisdiction in this context. It makes decisions and renders legal judgments for the benefit of the entire county population. Generally speaking, the primary function of such an authority is to enforce the law and oversee its execution and punish those who do not abide by the law.
Dear students, get latest Solved NMIMS assignments and case study help by professionals.
Mail us at : help.mbaassignments@gmail.com
Call us at : 08263069601