Get fully solved assignment.

Buy online from website

www.smuassignment.in

online store

or

plz drop a mail with your sub code

computeroperator4@gmail.com

we will revert you within 2-3 hour or immediate

Charges rs 125/subject

DRIVE- Winter 2016

PROGRAM- MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2 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

Q1. What are the rights of a surety? (Rights against creditors, Rights against Principal
Debtor, Right against Co-Sureties) 2, 4, 4

Answer: Rights of Surety against the Creditor

1. Ask the creditor to sue the debtor: On the guaranteed debt having fallen due for
payment, the surety may ask the creditor to sue the debtor to collect the due amount, but
he cannot compel him to do so. But he must then

Q2. Explain duties of a Bailor and a Bailee. (Duties of Bailor, Duties of Bailee) 5, 5

Answer: Duties of bailor (i) the bailor is bound to disclose to the bailee all faults in the goods
bailed of which the bailor is aware and which materially interfere with the use of them or which
expose the bailee to extraordinary risks. If he fails to do so, he is liable to the bailee in damages.

(ii) Where goods are bailed by way of hire, the bailor is liable to make good loss caused to the
bailee by such defects,
Q3. Power of Attorney is considered as an important concept in Business Law. Explain
(Meaning, Types, Registration) 3, 2, 5

Answer: Power of Attorney

Power of attorney is defined by Section 2(21) of the Stamp Act as including any instrument not
chargeable with a fee under the law relating to court fees for the time being in force, that
empowers a specified person to act for and in the name of the person executing it. It is the
Powers of Attorney Act,
1882, which

Q4. The Banking Regulation Act, 1949, provides various methods of regulation of the
banking business. Describe the key areas of regulation. (Methods of regulation) 10
Answer: The Banking Regulation Act, 1949, provides various methods of regulation of the
banking business. Some of the key areas of regulation are:

Power to provide directions Sections 21 and 35A of the Act empower the RBI to
regulate the business of banks by issuing directions controlling various aspects of
banking. Section 21 provides the power to regulate advances of banking companies,
while Section 35A provides powers of regulation over banks. These statutory directions
issued by

Q5. Explain the nature and scope of complaints under the Consumer Protection Act?
(Persons competent to make complaints, Place of complaint, Procedure for filing a
complaint, Admission of complaint, Power of the District Forum) 3, 1, 2, 2, 2
Answer: Persons competent to file a complaint (Section 12)
Any of the following people may file a complaint under the Act:

The consumer to whom such goods are sold or delivered or agreed to be sold or delivered
or such service provided or agreed to be provided. In case of death of a consumer, the
legal heir or representative can file a complaint.

Any recognised consumers association namely, any voluntary consumer association

registered under the Companies Act, 1956, or any other law for the time being in force. It
is not necessary

Q6. Explain the need and types of meetings. (Need for meeting, Statutory meetings, Annual
General Meetings, Extraordinary meetings, Class meetings) 2, 2, 2, 2
Answer:
Need for meetings
A company is an artificial person and therefore, must act through some human intermediary. The
various provisions of law empower shareholders to do certain things. They are specifically
reserved for them to be done in companys general meetings. Section 291 empowers the Board of
Directors to

Get fully solved assignment. Buy online from website

www.smuassignment.in

online store

or

plz drop a mail with your sub code

computeroperator4@gmail.com

we will revert you within 2-3 hour or immediate

Charges rs 125/subject