MB0051-Legal Aspects of Business

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ASSIGNMENT

DRIVE	SPRING 2015
PROGRAM	MBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 3 PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN – SEM 1
SUBJECT CODE & NAME	MB0051-Legal Aspects of Business
CREDIT	4
BK ID	B1725
MAX.MARKS	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.

Question. 1. What are the rights of a surety?

Answer:Rights of Surety can be classified into three groups, as follows;

·         Rights against Principal debtor.

·         Rights against Creditor.

Question.2. Explain duties of a Bailor and a Bailee.

Answer:Rights of Bailer

·         If bailee does not take care and destruction of goods takes place, bailer can claim compensation.

·         If bailee uses the goods for un-authorized purposes, bailer has the right to claim compensation.

·         Bailer has the right to claim return of goods.

·         Bailer has right to claim not only delivered goods but also accruals on goods if any.

·         In case where bailee has mixed the goods and they are of sufferable nature, bailer can claim cost of separation from bailee.

Question.3. “Power of Attorney is considered as an important concept in Business Law”. Explain

Answer: A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other. The person authorizing the other to act is the principal, grantor, or donor (of the power). The one authorized to act is the agent or, in some common law jurisdictions, the attorney-in-fact (attorney for short). Formerly, a power referred to an instrument under seal while a letter was an instrument under hand, but today both are signed by the grantor, and

Question.4. “The Banking Regulation Act, 1949, provides various methods of regulation of the banking business”. Describe the key areas of regulation.

Answer:The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India. Initially, the law was applicable only to banking companies. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes.

The Act provides a framework using which commercial

Question.5. Explain the nature and scope of complaints under the Consumer Protection Act?

Answer:When the Consumer Protection Act was initially enacted in 1986, goods purchased for commercial purpose (excluding those purchase for earning one’s livelihood) were excluded from the purview of the Act. Yet, surprisingly services availed or hired

Question.6. Explain the need and types of meetings.

Answer:Need for meeting: Meetings are the most misused tool in a leader's communications toolkit. In most instances, meetings are used by executive leadership as a first response to most situations unnecessarily. X has just happened so we need to call a meeting, or we need to meet to talk about Y. If leaders took the time to peruse their communications toolkits they would discover they have a number of tools that would be much more effective than having a meeting. A meeting is called to assemble a number of people for a defined singular purpose. The meeting

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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or

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