Companies Act_Practical Problems_94

A Company wants to provide financial assistance to its employees to enable them to subscribe for fully paid shares of the company. Does it amount to purchase of its own shares. If, in the instant case, the company itself purchasing to redeem its preference shares, does it amount to acquisition of its own shares?

Companies Act_Practical Problems_93

J held 100 partly paid up shares of LKM Limited. The company asked him to pay the final call money on the shares. Due to some unavoidable circumstances he was unable to pay the amount of call money to the company. At a general meeting of the shareholders, the chairman disallowed him to caste his vote on the ground that the articles do not permit a shareholder to vote if he has not paid the calls on the shares held by the him. J contested the decision of the chairman. Referring to the provisions of the Companies Act, 1956 decide whether the contention of J is valid.

NI_Act_Practical Problems_62

J, a shareholder of a co. purchased for his personal use goods from a mall on credit.He sent a cheque drawn on the co's A/c to the mall towards the full payment of bills.The cheque was dishounoured by the comapany's bank. J, the shareholder of comapny was neither a director nor a person incharge of the co. Examining the prov. of negotiable Act, state whether J has commited an offence under U/s 138 of the act and decide whether J can be held liable for the payment, for the goods purchased from the mall ?

Contract Act_Practical Problems_114

X,Y and Z are partners of software business jointly promise to pay Rs.30, 000 to A. Over a period of time Y became insolvent, but his assets are sufficient to pay one-forth of his debts. Z is compelled to pay the whole. Decide whether Z is required to pay whole amount himself to A in discharging joint promise?

Contract Act_Practical Problems_113

X and Y were two organizations trading in wheat of ‘Popular brand’ in Uttar Pradesh. X realizes that the wheat business is high yielding. To expand his business X offered Y a sum of Rupees ten lac on the condition that Y shall not sell ‘popular brand’ wheat in Uttar Pradesh. Accordingly Y stopped selling ‘popular brand’ wheat in Uttar Pradesh. X failed in making the promised payment to Y. Y filed a suit against X for the non-fulfillment of promise. Is the suit maintainable? Decide with reference to the provisions of the Indian Contract Act, 1872.

Companies Act_Practical Problems_92

In course of administration of the affairs of a limited company, Chairman of its Board of Directors came across a matter, which required the approval by say of a board resolution. In the prevailing circumstances, it is not possible to convent and hold a Board Meeting. The Chairman approaches you to advise him of the way and the relevant procedure to obtain such approval without holding the Board Meeting. You are required to advise him on the matter as per the provisions of the Companies Act, 1956.

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.

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?

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.

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?

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.

Companies Act_Practical Problems_91

Articles of association of a company reserved the powers for calling the annual general meeting. The managing director of the company, without reference to the Board, called an annual general meeting. Is the annual general meeting validly called ? If not, what should be done to make it valid ?

Companies Act_Practical Problems_90

A whole-time director of a company made an invention during the course of his employment with the company. He patented the invention in his own name and appropriated the benefits to himself. Can he do so ?