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Xaviers Institute of
Business Management Studies
MARKS: 80
COURSE: MBA
SUB: CORPORATE LAW
N.B.:
1 Attempt any Twelve
Questions
2) Last two Questions are compulsory
Q.1. In the following statements only one is
correct statement. Explain Briefly?
(5 Marks)
i) An invitation to negotiate is a good offer.
ii) A quasi-contract is not a contract at all.
iii) An agreement to agree is a valid contract.
Q.2. A
ship-owner agreed to carry to cargo of sugar belonging to A from Constanza to
Busrah. He knew that there was a sugar
market in Busrah and that A was a sugar merchant, but did not know that he
intended to sell the cargo, immediately on its arrival. Owning to Shipment’s default, the voyage was
delayed and sugar fetched a lower price than it would have done had it arrived
on time. A claimed compensation for the
full loss suffered by him because of the delay.
Give your decision. Explain Briefly?
(5 Marks)
Q.3. The
proprietors of a medical preparation called the “Carbolic Smoke Ball” published
in several newspapers the following advertisement:-
“£
1000 reward will be paid by the Carbolic Smoke Ball Co. to any person who
contracts the increasing epidemic influenza after having used the Smoke Ball
three times daily for two weeks according to printed directions supplied with
each ball. £ 1000 is deposited with the Alliance Bank showing our sincerity in
the matter.
On
the faith in this advertisement, the plaintiff bought a Smoke Ball and used it
as directed. She was attacked by influenza.
She sued the company for the reward.
Will she succeed? Explain
Briefly (5 Marks)
Q.4. Fazal
consigned four cases of Chinese crackers at Kanpur to be carried to Allahabad
on the 30th May, 1987. He
intended to sell them at the Shabarat festival of 5th June
1987. The railway discovered that the
consignment could not be sent by passenger train and asked Fazal either to
remove them or authorize their dispatch by goods train. He took no action and the goods arrived at
Allahabad a month after they were booked.
Fazal
filed a suit against Railways for damages due to late delivery of the goods
which deprived him of the special profits at the festival sale. Decide & explain briefly ?
(5 Marks)
Q.5. ‘Lifeoy’
Soap company advertised that it would give a reward of Rs. 2000 who contracted
skin disease after using the ‘Lifeoy’ soap of the company for a certain period
according to the printed directions.
Mrs. Jacob purchased the advertised ‘Lifeboy’ and contracted skin
disease inspite of using this soap according to the printed instructions. She claimed reward of Rs. 2000. The claim is
resisted by the company on the ground that offer was not made to her and that
in any case she had not communicated her acceptance of the offer. Decide whether Mrs. Jacob can claim the reward
or not. Give reasons. Explain briefly? (5 Marks)
Q.6. In
each set of statements, only one is correct.
State the correct statements & Explain briefly?
a) i) A bailee has a general lien on the
goods bailed.
ii) The ownership of goods pawned
passes to the pawnee.
iii)
A gratuitous bailment can
be terminated by the bailor even
before the stated time.
b) i) A
substituted agent is as good an agent of the agent as a sub-
agent.
ii)
An ostensible agency is as
effective as an express agency.
iii)
A principal can always
revoke an agent’s authority. (5 Marks)
Q.7. A, an unpaid seller, sends goods to B
by railway. B becomes insolvent
And A sends a telegram to Railway authorities not to
deliver the goods to B. B. goes to the Parcel office of Railway Yard and by
presenting R. R. (Railway Receipt) takes
delivery of the goods and starts putting them in the cart. Meanwhile the Station Master comes running
with the telegram in hand and takes possession of the goods from B. Discuss the rights of A and B to the goods in
possession of Railway authorities. (5 Marks)
Q.8. X
needs Rs. 10,000 but cannot raise this amount because his credit is not good
enough. Y whose credit is good
accommodates. X by giving him a pronote
made out in favour of X, though Y owes no money to X. X endorses the pronote to Z for value
received. Z who is holder in due
course demands payment from Y. Can Y refuse
and plead the arrangement between him and X Explain briefly? (5 Marks)
Q.9. Will
C has the right of further negotiation in the following cases: (B signs the
endorsements) Explain briefly? (5 Marks)
i) ‘Pay C for my use’
ii) ‘Pay C’)
iii)
‘Pay C or order for the
account of B’
Q.10. A
promissory note was made without mentioning any time for payment. The holder added the words’ on demand on the
face of the instrument. State whether it
amounted to material alteration and explain the effect of such alteration. Explain briefly? (5 Marks)
Q.11. State
whether the following instruments are valid promissory notes:
i) I
promise to pay Rs. 5000 to B on the dearth of ‘B’s uncle provided that D in his
will gives me a legacy sufficient for the promise of payment of the said sum.
ii) I
hereby acknowledge that I owe X Rs. 5,000 on account of rent due and I agree
that the said sum will be paid be me in regular installments.
iii)
I acknowledge myself
indebted to B in Rs. 5000 to be paid on demand for value received. (5 Marks)
Q.12. A
Payee holder of a bill of exchange. He
endorses it in blank and delivers it to B.
B endorses in full to C or order.
C without endorsement transfers the bill to D. State giving reasons whether D as bearer of
the bill of exchange is entitled to recover the payment from A or B or C. Explain briefly?
(5 Marks)
Q.13. Write
a short note on the Doctrine of Indoor Management? Explain briefly? (5 Marks)
Q.14. The
shareholders at an annual general meeting passed a resolution for the payment
of dividend at a rate higher than that recommended by the Board of
Directors. Examine the validity of the
resolution. Explain briefly?
(5 Marks)
Q.15. In
a prospectus issued by a company the Managing Director stated that the company
had paid dividend every year during 1921 – 27, which was a fact. However, the company had sustained losses
during the relevant period and had paid dividends out of secret reserves
accumulated in the past. Examine the
consequences of the observation made by the Managing Director. Explain briefly? (5 Marks)
Q.16. In
a prospectus issued by a company the Managing Director stated that the company
had paid dividend every year during 1921-27, which was a fact. However, the company had sustained losses
during the relevant period and had dividends out of secret reserves accumulated
in the past. Examine the consequences of
the observation made by the Managing Director.
Explain briefly? (5 Marks)
Q.17.
A buys from B 400 shares in a company on the faith of a share
certificate issued by the company. A
tender to the company a transfer deed duly executed together with B’s share
certificate. The company discovers that
the certificate in the name of B has been fraudulently obtained and refuses to
register the transfer. Advise A. Explain briefly? (5 Marks)
Q.18. A
insured his house against fire. Later
while insure, A killed his wife, severely injured his only son, set fire to the
house and died in the fire. The son
survived and sued the insurer for the fire loss, advice the insurer. Explain briefly? (5 Marks)
Q.19. a) Satrang Singh admitted his
only infant son in a private nursing home.
As a result of strong dose of medicine administered by the nursing
attendant, the child has become mentally retarded. Satrang Singh wants to make
a complaint to the District Forum under the Consumer Protection Act, 1986
seeking relief by way of compensation on the ground that there was deficiency
in service by the nursing home. Does his
complaint give rise to a consumer dispute?
Who is the consumer in the instant case? Explain briefly?
b) Smart
booked a motor vehicle through one of the dealers. He was informed subsequently that the
procedure for purchasing the motor vehicle had changed and was called upon to
make further payment to continue the booking before delivery. On being aggrieved, Smart filed a complaint
with the State Commission under the Consumer Protection Act, 1986. Will he succeed? Explain briefly?
c) Brittle
and Company, a small-scale industry, sought nursing and financing facilities
from its bankers by means of grant of further advances and adequate margin
money in anticipation of good demand for its products. In failing to obtain this and having become
sick, it proceeds against its bankers under the Consumer Protection Act, 1986,
Will it succeed? Explain briefly?
(5 Marks)
Q.20. X
who was working as a truck driver had taken a general insurance policy to cover
the risk of injuries for a period from 1.11.1998 to 30.11.1999. He renewed the policy for a further period of
one year on 10.11.1999. On the same day,
he met with an accident and suffered multiple injuries including
fractures. X submitted the claim along
with documents to the insurance company. The insurance company repudiated the
claim on the ground that the premium for the renewed policy was received in the
office only at 2.30 p.m. on 10.11.1999, while the accident had taken place at
10.00 a.m. on that day and hence there was no policy at the time of
accident. Will X succeed if he files a
complaint against the insurance company for this claim? Explain briefly? (5
Marks)
Q.21. Avinash
booked his goods with Superfast Freight Carriers at Delhi for being carried to
Ferozabad. The goods receipt note
mentioned that all the disputes would be subject to jurisdiction of the Mumbai
Court. Avinash lodged a complaint for
certain deficiency in service against the transporter in the District Forum at
Delhi. Superfast Carriers contested that
District Forum at Delhi had no jurisdiction to entertain the complaint as the
head office of the transporter was at Mumbai and the jurisdiction has been
clearly stated in the goods receipt not.
Is the contention of the transporter tenable? Explain briefly? (5 Marks)
Q.22. With
reference to the provisions of the Consumer Protection Act, 1986, decide the
following giving reasons in support of your answer.
i) Sukh
Dukh Ltd. dispatched certain consignments of goods by road through Fastrack
Roadways Ltd. The goods were unloaded and stored in a godown enroute on the
suggestion of consignee. A fire broke
out in the neighbouring godown spread to the godown and goods were
destroyed. The Fastrack Roadways Ltd.
claimed that there was neither negligence nor deficiency in service on their
part and goods were being carried at “Owner risk” and since no special premium
was paid, they were not responsible for the loss caused by fire. Whether Fastrack Roadways Ltd. is liable to
pay damages to consignor?
ii) Life
Insurance Corporation (LIC) formulated a scheme called ‘salary saving scheme’
under which employees of an organisation could buy an insurance policy. Premium due on each policy was collected by
the employer from the salary of the employees nor did it issue any premium
notice. When the widow of the deceased
employee made a claim to LIC on the death of her husband, the LIC repudiated
the claim on the ground that four installments of premium had not been
paid. The widow was approached the
consumer forum for redressal. Is the LIC liable for deficiency in service?
Explain?
iii) Raman
booked a ticket from Delhi to New York by Lufthansa Airlines. The airport authorities in New Delhi did not
find any fault in his visa and other documents.
However, at Frankfurt airport authorities instituted proceedings of
verification because of which Raman missed his flight to New York. After necessary verification, Raman was able
to reach New York by the next flight.
The airline authorities’ tendered apology to Raman for the inconvenience
caused to him and also paid as goodwill gesture a sum of Rs. 5,000. Raman intends to institute proceedings under
the Consumer Protection Act, 1986 against Lufthansa Airlines for deficiency in
service. Will he succeed? (10 Marks )
Q.23. With
reference to the provisions of the Consumer Protection Act, 1986, decide the
following giving reasons in support of your answer.
i) Sohn
sent all relevant documents in an envelope regarding consignment of goods to a
buyer in the USA through Fast Service Couriers.
The documents did not reach the buyer as a consequence of which the
buyer could not take delivery of the goods.
By the time the duplicate copies of the document had been received by
the buyer, the season of the goods was over.
He claimed that he had suffered a loss of US $ 5,000 as a result of the
negligence of the courier. The State
Commission ordered the payment to be made by the Fast Service Couriers, but the
National Commission in appeal reversed the order and ordered payment of US $
100 only as per the receipt issued by the Fast Service Courier to the consignor
at the time of the dispatch of the latter.
Advise Sohan.
ii) Mahesh
purchased a machine from Astute Ltd. to operate it himself for earning his
liverhood. He took the assistance of a
person to assist him in operating the machine. The machine developed fault during the
warranty period. He filed a claim in the consumer forum against the company for
deficiency in service. Astute Ltd.
alleged that Mahesh did not operate the machine himself but had appointed a
person exclusively to operate the machine.
Will Mahesh succeed?
iii) Pillai
purchased a car by taking a loan from Kerala cooperative Bank Ltd. and gave
post-dated cheques to the bank not only in respect of repayment of loan
instalments but also of premium of insurance policy for two succeeding years.
On the expiry of the policy. Pillai’s
car met with an accident. Will Pillai
succeed in getting a claim against the
Bank ? (10
Marks)
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students, get latest Solved assignments by professionals.
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