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.

Co-operative Society Act_Practical Problems_1

S is a member of a co-operative society registered with the unlimited liability under the Cooperative Societies Act, 1912. Holding shares of the society for ten months, S transfers his shares to M. Decide whether transfer of shares in favour of M is valid?

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."

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.