Thursday, January 10, 2008

Contract Act_Practicle Problems_65

X chartered a ship to Y which was described in the ‘Charter party’ and was represented to him as being not more than 2,800 tonnage register. It turned out that the registered tonnage was 3,045 tons. Y refused to accept the ship in fulfilment of the charter party. Is Y's action valid?

Contract Act_Practicle Problms_65

X sells by auction to Y a horse which X knows to be unsound. The horse appears to be sound but X knows about the unsoundness of the horse. Is this contract valid in each of the following alternative cases:

Case (a) X says nothing about the unsoundness of the horse to Y.
Case (b) If X says nothing about it to Y who is X’s daughter who has just come of age.
Case (c) If Y says to X “If you do not deny it, I shall assume that the horse is sound.” X says nothing.

Contract Act_Practicle Problms_64

X. an agent, refused to hand over the account books of Y, the principal to the new agent appointed in his place unless the principal released him from all liabili­ties. The principal had to give a release deed as demanded. Is this release deed binding upon the principal?

Fresh Fish

Am interested to share the below ……..a small story with you.

The Japanese have always loved fresh fish. But the water close to Japan has not held many fish for decades. So to feed the Japanese population, fishing boats got bigger and went farther than ever. The farther the fishermen went, the longer it took to bring the fish. If the return trip took more time, the fish were not fresh.

To solve this problem, fish companies installed freezers on their boats. They would catch the fish and freeze them at sea. Freezers allowed the boats to go farther and stay longer.

However, the Japanese could taste the difference between fresh and frozen fish. And they did not like the taste of frozen fish. The frozen fish brought a lower price. So, fishing companies installed fish tanks. They would catch the fish and stuff them in the tanks, fin to fin. After a little thrashing around, they were tired, dull, and lost their fresh-fish taste. The fishing industry faced an impending crisis! But today, they get fresh-tasting fish to Japan. How did they manage? To keep the fish tasting fresh, the Japanese fishing companies still put the fish in the tanks but with a small shark. The fish are challenged and hence are constantly on the move. The challenge they face keeps them alive and fresh!

Have you realized that some of us are also living in a pond but most of the time tired and dull? Basically in our lives, sharks are new challenges to keep us active. If you are steadily conquering challenges, you are happy.

"Your challenges keep you energized. Don't create success and revel in it in a state of inertia. You have the resources, skills and abilities to make a difference. Put a shark in your tank and see how far you can really go..!"