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Business Law
September 2021 Examination
1. Please explain Clayton's Rule of
Appropriation by pointing out the relevant provisions of law. (10 Marks)
Ans 1.
Introduction
When
it comes to business studies, the term "appropriation" refers to the
process of saving a specified quantity of money for a specific purpose or
requirement. For example, a business may elect to set aside a particular
portion of profit to expand their operations or put the money aside for a
disaster relief fund.
2. Explain in detail two (2)
real-life cases where provisions of information have been denied on grounds of
the exemption stated in Right to Information Act, 2005. (10 Marks)
Ans 2.
Introduction
Information
can be defined as any correct data. Emails, public records, news releases,
documents, reports, papers, and any other data material, whether in electronic
or physical form, are all included in this category. Information is critical in
the decision-making process as well as in the exchange of information between
two parties. To make the best decision possible, a person needs to have access
to the appropriate information.
3. Jean Valjean has an adventure
sports equipment shop. This shop is the only adventure sports equipment shop in
the city of Nagpur. Cosette, a young (adult) adventure enthusiast, intends to
begin a startup by setting up an adventure sports equipment shop and adventure
experience services like hiking, trekking, nature trail cycling, etc.
Understanding Cosette as a competitor, Jean Valjean looks at an opportunity to
tie up with Cosette, and both agree to the following deal and have signed a
contract to that extent:
i. Both will divide the territory of
Nagpur into two parts between themselves, and each one will sell and market in
their respective territory only. In case of any sale queries coming from the
other's territory, they will inform them.
ii. Both will share the price list
and adhere to the price. In other words, neither of them will sell below the
price.
iii. They will create an adventure
certification program and tie-up with Nagpur local authorities for endorsement.
This program will be made compulsory for anyone starting a shop, outlet, or
startup for adventure sports equipment in Nagpur.
a) Is the Agreement between Jean
Valjean and Cosette valid or illegal? Please support your answer with reasons
and legal provisions (5 Marks)
Ans 3a.
Introduction
An agreement is a legally binding contract
that outlines the facts, policies, rules, and laws that two parties have agreed
to adhere to. In an agreement, we can write down and record the
responsibilities that each side is responsible for. We formalize the
arrangement by signing the contract that outlines the terms of the agreement.
b) Which authority has the
jurisdiction to decide the legality of such transactions and what are the
powers of such authority (5 Marks)
Ans 3b.
Introduction
A
country's judicial authority or the powers of legal entities are referred to as
its jurisdiction in this context. It makes decisions and renders legal
judgments for the benefit of the entire county population. Generally speaking,
the primary function of such an authority is to enforce the law and oversee its
execution and punish those who do not abide by the law.
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case study help by professionals.
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