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Legal
Aspect of Business
Jun
2025 Examination
PLEASE NOTE: This assignment
is application based, you have to apply what you have learnt in this subject into
real life scenario. You will find most of the information through internet
search and the remaining from your common sense. None of the answers appear
directly in the textbook chapters but are based on the content in the chapter
Q1. A startup named "SunDisk Pvt. Ltd."
specialises in software development. Initially, its Memorandum of Association
(MOA) focused solely on developing enterprise software solutions. However, when
market patterns changed, the business recognized profitable prospects in cloud
computing services and artificial intelligence (AI) consulting. The board of
directors decided to enter these segments without modifying the MOA. Soon
after, a major investor raised concerns that these activities were ultra vires
and could lead to legal consequences. The company now faces challenges related
to business expansion, legal compliance, and shareholder confidence.
Based on the given scenario, highlight the challenges
before SunDisk Pvt. Ltd. if the MOA continues to remain unamended. Please
explain the challenge by emphasizing the doctrine of ultra vires under the
Companies Act, 2013, and suggest potential solutions to avoid the company
violating the provisions of Companies Act, 2013 (10 Marks)
Q2A. Innovative Constructions Pvt. Ltd. signs a
contract with the government to build a highway in two years. The contract
includes terms about work deadlines and quality. However, the company faces
three major problems:
1. Delay in Work: Due to supply chain problems, only 90% of the
work is done on time. The government may take legal action for not completing
the project.
2. Change in Contract: The company asks for extra time, and the
government agrees, but some contract terms need to be changed.
3. Work Becomes Impossible: A new law bans an important material
needed for the project. The company claims that the contract should end because
completing the work is now impossible.
Question: Under the Indian Contract Act, 1872, explain
how the company should handle these problems legally. Consider rules about
performance (finishing the work), changing terms of the contracts by mutual
agreement, and what happens when the work becomes impossible to perform.
Mention relevant legal sections where applicable. (5 Marks)
Q2B. Harish, a real estate developer, signs a contract
with Mehta & Sons to build a luxury apartment complex in two years. The
contract states that if the project is delayed, Mehta & Sons must pay a
penalty (liquidated damages). However, due to poor management, they fail to
complete the project on time. Harish suffers financial loss and damage to his
reputation.
Question:
Under the Indian Contract Act, 1872, what legal
remedies does Harish have for this contract breach? What steps can he take to
prevent further delays? Mention relevant legal sections. (5 Marks)
Dear Students,
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over 10,000+ students!
100%
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