Practical Problems_Contract Act_92

Ajay found a defective video camera lying in a park. He pledged it with Vijay for Rs.3,000. Mohan, the real owner, came to know about it. Mohan sued Vijay to recover his camera. Vijay had incurred Rs.500 on repair to make the camera
operational. Can Mohan recover his camera ?

NI Act_Practical Problems_57

On a bill of exchange for Rs.10,000 Sumit’s acceptance to the bill is forged. Amit takes the bill from his customer in good faith and for consideration before the bill becomes payable. State with reasons whether Amit can receive the amount of the bill from Sumit.

Practical Problems_Partnership Act_8

A, B, C, D and E are partners in a firm. They decided to dissolve the firm from 1st January, 2006 but failed to give a public notice of its dissolution and continued the business of the firm even after that date. D died on 5th January, 2006 and E was declared insolvent on 10th January, 2006. On 11th January, 2006, A borrowed in the firm’s name Rs.20,000 from R who was ignorant of the dissolution. Discuss the liability of partners.