Business Laws and Business Correspondence and Reporting - 7 mtp MTP

(a) (i) ‘Nakul’ made promissory note in favour of ‘Sahdev’ of ₹10,000 and delivered to him. ‘Sahdev’ indorsed the promissory note in favour of ‘Arjun’ but delivered to Arjun’s agent. Subsequently, Arjun’s agent died, and promissory note was found by ‘Arjun’ in his agent’s table drawer. ‘Arjun’ sued ‘Nakul’ for the recovery of promissory note. Whether ‘Arjun’ can recover amount under the provisions of the Negotiable Instrument Act 1881? (4 Marks) (ii) Utkarsh purchased some goods from Saksham for =…

1. (a) Rahul owns an electronics store. Pankaj visited the store to buy a water purifier priced at = 54,000/-. He specifically requested Rahul for a purifier with a copper filter. As Pankaj wanted to buy the purifier on credit, with the intention of paying in 9 equal monthly instalments, Rahul demands a guarantor for the transaction. Sooraj (a friend of Pankaj) came forward and gave the guarantee for payment of water purifier. Rahul sold Pankaj, a water purifier of…

(a) (i) Ashish, a trader, delivered a camera to Mohan on 'sale or return’ basis. Mohan delivers the camera to Raj on the terms of 'sale for cash only or return’. Afterward, Raj delivered it to Vikas on a 'sale or return’ basis without paying cash to Mohan. The camera, which was in possession of Vikas, was lost by theft though he exercised due care for its safety. Referring to the provisions of the Sale of Goods Act, 1930, analyse…

3. (a) Referring to the provisions of the Indian Partnership Act, 1932, answer the following: (i) Ram and Shyam are partners in a partnership firm named as RS & Co. (the firm). Gaurav, a renowned businessman, is their common friend. Ram introduced Gaurav to Sahil, a supplier to the firm, as his newly joined partner. Gaurav knowing that he is not a partner preferred to keep quiet on such an introduction. This information about Gaurav, being a partner of the…

(i) Mr. R extended a loan to Mr. D with X, Y, and Z as sureties. Each surety executed a bond with varying penalty amounts, X with a penalty of = 10,000, Y with = 20,000 and Z with % 40,000, in the event of Mr. D's failure to repay the borrowed money to Mr. R. Examine the liabilities of the sureties in accordance with the Indian Contract Act, 1872, when Mr. D defaults to the tune of = 42,000.…

(a) (i) Karan agreed to sell his laptop to Vishal for a price to be fixed by Kiran a hardware engineer. However, before the delivery of the laptop, Karan changed his mind and did not share any particulars and configuration of the laptop with Kiran, which made her unable to do the valuation. Kiran refused to do valuation. Vishal needed laptop for his project, so he promised Karan that, if the laptop is delivered to him, he would pay a…