DRIVE

PROGRAM

SUBJECT CODE &

NAME
BK ID
CREDIT
MARKS

ASSIGNMENT
WINTER 2015

MBADS/ MBAFLEX/ MBAHCSN3/ MBA SEM 3

MB 0051
LEGAL ASPECTS OF BUSINESS
B1725
4
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.
Q.No
Question
Marks
1
Narrate the exceptions to the rule No consideration no contract
How is a contract discharged ?
Exception to the rule, No consideration no
contract
Discharge of a contract
2

10
5

10

10

When and how is a partnership and firm get dissolved ?

Dissolution of partnership and firm

Narrate the rights and liabilities of a surety in a contract of guarantee.

Rights and liabilities of a surety in a contract of
guarantee

Total Marks

10

10

Narrate the Latin maxim Nemo dat quod non habet and its exceptions in sale of Goods
Act 1930.
A sells certain goods to B and promises to deliver the goods on the next day. But before
delivery A sells and delivers the goods to C who buys those in good faith and without
knowledge of the prior sale to B.
Explain Bs remedy in such circumstances.
A, B and C are three brothers who owned a 3-story building, each of them agreed to share
a floor. The building was constructed by the supervision of A, who had a general power of
attorney given by B and C. A, B and C contributed equally to the construction of the
property.
C was staying abroad and was supposed to occupy his flat at a later date. Meanwhile A sells

Cs flat to X by virtue of the general power of attorney.

Give your comments.

10
Narrate the Latin maxim Nemo dat quod non 5
habet and its exceptions in sale of Goods Act 1930.
A sells certain goods to B and promises to deliver
the goods on the next day. But before delivery A 2
sells and delivers the goods to C who buys those in
good faith and without knowledge of the prior sale
to B.
Explain Bs remedy in such circumstances.
A, B and C are three brothers who owned a 3-story 3
building, each of them agreed to share a floor. The
building was constructed by the supervision of A,
who had a general power of attorney given by B and
C.
A, B and C contributed equally to the
construction of the property.
C was staying abroad and was supposed to occupy
his flat at a later date. Meanwhile A sells Cs flat to
X by virtue of the general power of attorney.
Give your comments.
5

Section 16 of the Companies Act, 2013 provides the rules for alteration of Memorandum of
Association. Explain the rules.
Explain the rules for alteration of clauses in
Memorandum of Association as per Section 16 of
Companies Act, 2013

10

10

Narrate the prohibition of anti-competitive agreements and abuse of dominant position as

per Competition Act, 2002.
Prohibition of anti-competitive agreements
Prohibition of Abuse of dominant position

5
5

10