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DRIVE-
SUMMER 2015
PROGRAM-
BBA
SEMESTER-
III
SUBJECT
CODE & NAME- BBA 301
LEGAL
AND REGULATORY FRAMEWORK
Qus:1
“Every person is competent to contract who is of the age of majority according
to the law to which he is subject, and who is of sound mind, and is not
disqualified from contracting by any law to which he is subject”. In the light
of above elaborate the extant provisions of Indian Contract Act, 1872 referring
to the famous case : Mohori Bibi V. Dharamadas Ghose.
·
Qualifications
disqualifications of persons competent to contract and persons who are
incompetent.
·
Case
law : Mohori Bibi V. Dharamadas Ghose.
Answer:
Qualifications
disqualifications of persons competent to contract and persons who are
incompetent
Disqualified
persons:
ICA disqualifies
the following persons from contracting:
i)
Alien friend can contract but an alien
enemy cannot. It means that a foreigner living in India can enter into a
contract during peace time between his country and India. But he cannot do so
if
Qus:2
Distinguish between Conditions and Warranties in an agreement to sell. What are
the rights of an unpaid seller ?
·
Conditions
and Warranties in an agreement to sell.
·
Rights
of an unpaid seller
Answer:
Conditions
and Warranties in an agreement to sell:
A stipulation in
a contract of sale may be a condition or a warranty, with reference to goods
which are the subject matterof the contract [Sec.12 (1)].
Condition
[Sec.12 (2)]: A
condition is a stipulation which is essential to the main purpose of the contract.
It goes to the root of the contract. Its nonfulfillment upsets the very basis
of the contract. It is defined by Fletcher Moulton L.J in (1910) 2 K.B. 1012 as
an “obligation which goes so directly to the substance of the contract, or in
other words is so essentials to its very nature
Qus:3
“A negotiable instrument is said to be discharged when all the rights of
actions under it are completely extinguished and when the instrument ceases to
be negotiable” Elucidate the statement citing the modes of discharge.
·
Modes
of discharge of a negotiable instrument
Answer:
Modes
of discharge of a negotiable instrument:
The different
mode of discharges of an instrument are as follows:
i)
By
payment in due course: This is the most obvious and the
usual mode of discharges of an instrument and of the parties to it. The
instrument is discharged by payment made in due course by the
Qus:4
X, Y and Z decide to form a private limited company. Elaborate the steps to
form their company as per the Companies Act, 1956.
·
Steps
to form a private limited company.
Answer:
Steps
to form a private limited company:
The Companies Act of
1956 sets down rules for the establishment of both public and private
companies. The most commonly used corporate form is the limited company,
unlimited companies being relatively uncommon. A company is formed by
registering the Memorandum and Articles of Association with the State Registrar
of Companies of the state in which the main
Qus:5
Your client approaches you to learn the grievance redressal procedures as per
Consumer protection Act, 1986. Advise your client.
·
Grievance
redressal procedures as per Consumer Protection Act, 1986
Answer:
Grievance
redressal procedures as per Consumer Protection Act, 1986:
The Consumer Protection
Act, 1986 (in short, ‘the Act’), is a benevolent social legislation that lays
down the rights of the consumers and provides their for promotion and
protection of the rights of the consumers. The first and the only Act of its
kind in India, it has enabled ordinary
Qus:6
“Patents do not cover abstract ideas or theories, but are intended to cover
specific technical solutions that have some practical application, use or
benefit. A patent is generally available for an eligible invention.” Do you
agree ? Substantiate your agreement/disagreement.
·
Explain
the concept that patents rights are intended for specific technical solutions
having some practical application, use or benefit and no abstract ideas. A
patent right is granted for an eligible invention.
Answer:
Explain
the concept that patents rights are intended for specific technical solutions
having some practical application, use or benefit and no abstract ideas. A
patent right is granted for an eligible invention:
An
invention is a technical solution relating to a product or process in any field
and is granted by a legal protection if it is new, involves an inventive step
and is industrially applicable (“Law on
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