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ASSIGNMENT
| DRIVE FALL | SUMMER 2014 |
| PROGRAM | MBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 3
PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN – SEM 1 |
| SUBJECT CODE & NAME | MB0051-Legal Aspects of Business |
| BK ID | B1725 |
| CREDITS | 4 |
| MARKS | 60 |
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
- 1. Explain the performance of contracts
Answer: Definition
Execution of a contract by which the contracting parties are automatically discharged (see discharge of contract) of their obligations under it. Although contracts usually call for full and precise performance, a substantial performance may be acceptable under certain circumstances, on a pro rata basis, or on payment of damages for the unfinished or defective performance. Execution of the terms of a contract after which the involved parties are discharged from their duties, as listed within the contract. A payment is usually made
- 2. Elaborate the rights of surety.
Answer: Rights of Surety can be classified into three groups, as follows;
- Rights against Principal debtor.
- Rights against Creditor.
- Rights against Co-Sureties.
- 3. Discuss the termination of bailment.
Answer: A contract of bailment is voidable at the option of the bailor, if the bailee does any act with regard to the foods bailed, inconsistent with the conditions of the bailment.For example, A lets to B, for hire, a horse of his own riding B drives the horse in his carriage. This is, at the option of A, a termination of the bailment.
Law relating to termination of bailment is
- 4. Explain the performance of a contract of sale of goods.
Answer: Performance of a contract of sale implies a duty of the seller to deliver the goods, and of the buyer to accept the delivery of the goods and make payment in accordance with the terms of the contract (sec. 31).
Delivery of goods sold may be made by doing anything which the parties agree shall be treated as delivery or which has the effect of putting the goods in the possession of the buyer or of any person authorized by him (Sec. 33).
- 5. Discuss the law related to the prohibition of anti-competitive agreements.
Answer: Agreements which cause or are likely to cause appreciable adverse effect on competition are anti-competitive agreements. Horizontal agreements are those that are between enterprises at the same stage of the production chain. For example, agreement between two rivals is a horizontal agreement. In cases of agreements between rivals for fixing prices or for limiting production or for sharing markets, there is a presumption in the Act that such agreements cause appreciable adverse effects on competition.
the implications of anti-competitive agreements and
- 6. Explain the need and types of meetings.
Answer: Members of a company discuss organizational issues and other agenda through a personal gathering or through a conference call. A meeting is a routine activity in a company. It is even part of the weekly itinerary of many working individuals and business people. Meetings can be formal or informal, but for the most part, organizational meetings usually take a formal setting where preparation must be done to properly plan and execute the meeting.
There are various types of meetings that may depend on its nature and the objectives or purpose of the gathering. Any company can utilize a particular type of meeting according to what the participants aim to achieve after the conference.
Need for meeting: Formulating a set of
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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or
call us at : 08263069601