Course: Business Law

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NMIMS Global Access

School for Continuing Education (NGA-SCE)

 

Course: Business Law

 

Internal Assignment Applicable for December 2015 Examination

 

 

Assignment Marks: 30

 

Q.1 Explain Bailment by quoting an appropriate example and discuss the Essentials/Features of Bailment vis-à-vis the quoted example?

Answer 1 –

A contract is a written or expressed agreement between two parties to provide a product or service. There are essentially six elements of a contract that make it a legal and binding document

On analyzing the above definition, we find the following characteristics of bailment:

  1. There should be a contract:

A bailment is based on a contract, i.e., it is created by a contract. The contract of bailment may be express or implied. In some cases e.g., in case of finder of goods, a contract of bailment can be implied by law.

 

 

 

Q.2. ‘X’ had visited a leading E-Commerce Website to purchase a Mobile Smartphone for Rs.35, 000/-. The steps of the transaction were as follows:

  1. X visits the E-Commerce Website (“Website”) and searches for a Mobile Smartphone listed on the Website;
  2. X selects the desired Mobile Smartphone and checks the price, which displays at Rs.35, 000/-. The price is an all inclusive price and includes taxes and other charges.

iii. X then adds the selected product to the E-shopping Cart and fills in the relevant details for registration and purchase. Thereafter, ‘X’ proceeds to do the payment for the selected Mobile Smartphone;

  1. On completing the payment formalities, the Website displayed the message “Product Unavailable at the selected Price”. The Price for the Mobile Smartphone had increased. The Amount for the Mobile Smartphone was not deducted from the account of ‘X’.
  2. a) Is the Contract between ‘X’ and the Website initiated? Can ‘X’ sue the E-Commerce Website for not making available the Mobile Smartphone at the price selected by ‘X’. If yes, give reasons? If no, give reasons?

 

 

Answer : A contract is a written or expressed agreement between two parties to provide a product or service. There are essentially six elements of a contract that make it a legal and binding document.

In order for a contract to be enforceable, it must contain:

  1. An offer that specifically details exactly what will be provided
  2. Acceptance, which is the agreement by the other party to the offer presented
  3. Consideration, money or

 

 

 

 

  1. b) Assuming if the amount of Rs.35, 000/- was deducted from the account of ‘X’ and the amount was received by the Website. Is the Contract between ‘X’ and the Website initiated? Can ‘X’ sue the Website for not making available the Mobile Smartphone at the price selected by ‘X’ even after deducting the amount?

Answer: If the amount of Rs35000 has been paid by X and received by the website then there is a valid contract initiated between both the parties .

Yes, X can sue the another party for not making available the delivery of smartphone even at the price selected by the X even after making of payment by X . In this case there was an offer and  acceptance and is legally enforceable .

A party to a contract is one who holds the obligations and receives the benefits of a legally binding agreement. When two parties enter into an agreement, there are two distinct roles each play: the promisor and the promisee. The promisor is the party that

 

 

 

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