Thursday, December 31, 2009

Bridge of love

Once upon a time two brothers who lived on adjoining farms fell into conflict.

It was the first serious rift in 40 years of farming side by side, sharing machinery, and trading labor and goods as needed without a hitch.Then the long collaboration fell apart. It began with a small misunderstanding and it grew into a major difference, and finally it exploded into an exchange of bitter words followed by weeks of silence.?

One morning there was a knock on John's door. He opened it to find a man with a carpenter's toolbox. "I'm looking for a few days work" he said." Perhaps you would have a few small jobs here and there I could help with? Could I help you?

"Yes," said the older brother. "I do have a job for you. Look across the creek at that farm. That's my neighbor, in fact, it's my younger brother.Last week there was a meadow between us and he took his bulldozer to the river levee and now there is a creek between us.

Well, he may have done this to spite me, but I'll go him one better. See that pile of lumber by the barn?I? want you to build me a fence - - an 8-foot fence -- so I won't need to see his place or his face anymore."

The carpenter said, "I think I understand the situation. Show me the nails and the post hole digger and I'll be able to do a job that pleases you."

The older brother had to go to town, so he helped the carpenter get the materials ready and then he was off for the day. The carpenter worked hard all that day measuring, sawing, nailing, and hammering.

About sunset when the farmer returned, the carpenter had just finished his job. The farmer's eyes opened wide, his jaw dropped. There was no fence there at all.?

It was a bridge -- a bridge stretching from one side of the creek to the other! A fine piece of work handrails and all and the neighbor, his younger brother, was coming across, his hand outstretched."You are quite a fellow to build this bridge after all I've said and done."

The two brothers stood at each end of the bridge, and then they met in the middle, taking each other's hand. They turned to see the carpenter hoist his toolbox on his shoulder.

"No, wait! Stay a few days. I've a lot of other projects for you," said the older brother.

"I'd love to stay on," the carpenter said, "but, I have many more love bridges to build."

Sunday, December 27, 2009

NI Act_Practical Problems_61

A cheque is drawn payable to “B or order”. It is stolen and the thief forges B’s endorsement and endorses it to C. The banker pays the cheque in due course. Can B recover the money from the banker.

NI Act_Practical Problems_60

A draws a cheque for Rs. 100 and hands it over to B by way of gift. Is B a holder in due course?? Explain the nature of his title, interest and right to receive the proceeds of the cheque.

NI Act_Practical Problems_59

A promissory was made without mentioning any time for payment. The holder added the words “on demand” on the face of the instrument .Does this amount to material alteration?

NI Act_Practical Problems_58

A draws a cheque in favour of M ,a minor. M endorses the same in favour of X. The cheque is dishonoured by the bank on grounds of inadequate funds. Discuss the rights of X.

Wednesday, December 16, 2009

Practical Problems_Partnership Act_14

A, B and C are partners in a Partnership firm. They were carrying their business successfully for the past several years. Spouses of A and B fought in ladies club on their personal issue and A's wife was hurt badly. A got angry on the incident and he convinced C to expel B from their partnership firm. B was expelled from partnership without any notice from A and B. Considering the provisions of Indian Partnership Act, 1932 state whether they can expel a partner from the firm?

Practical Problems_Partnership Act_13

A, B, and C are partners in a trading firm. A ,without the knowledge or consent of B and C, borrows Rs. 10,000 from D, a customer of the firm, in the name of the firm. A then buys some goods for his personal household use with that borrowed money. Can D hold B and C liable for the loan?

Friday, December 11, 2009

Practical Problems_Sales of Goods Act_10

A purchased a car for Rs.70,000 from B who had no title for it. A used the car for eight months when the true owner of the car spotted it and demanded it from A. Can the true owner get back his car and can A recover the money from B or not ?

Practical Problems_Sales of Goods Act_9

A stock of wheat was sold at an agreed price per ton. The wheat was to be weighed by the agents of the seller as also of the buyer for ascertainment of the price. A part of the wheat was weighed and carried away by the buyer’s agent but the remainder was swept away by the flood. Who will bear the loss of the remainder?

Contract Act_Practical Problems_112

Mr. Aman of Kolkata engaged Mr. Singh as his agent to buy a house in East Extension area. Mr. Singh bought a house for Rs.20 lakhs in the name of a nominee and then purchased it himself for Rs.24 lakhs. He then sold the same house to Mr. Aman for Rs.26 lakhs. Mr. Aman later comes to know the mischief of Mr. Singh and tries to recover the excess amount paid to Mr. Singh. Is he entitled to recover any amount from Mr. Singh? If so, how much? Explain.

Monday, December 07, 2009

Practical Problems_Sales of Goods Act_8

R gives his umbrella to M during raining season to be used for two days during Examinations. M keeps the umbrella for a week. While going to R’s house to return the umbrella ,M accidently slips and the umbrella is badly damaged. Who bear the loss and why?

Contract Act_Practical Problems_111

X buys from Y a painting which both believe to be the work of an old master and for which X pays a high price. The painting turns out to be only a modern copy .Discuss the validity of the contract?

Sunday, December 06, 2009

Contract Act_Practical Problems_110

A entered into an agreement with S to deliver five dozen bottles of a particular brand of champagne to be manufactured in his factory. The champagne could not be manufactured because of strike by the workers and A failed to supply the said dozen of champagne to S. Decide whether A can be exempted from liability under the provisions of the Indian Contract Act, 1872.