Practical Probelms_Partnership Act_6

Rohit is not a partner in a particular firm. But, he represents himself or knowingly permits himself to be represented as a partner of that particular firm to Sanjay, who on the faith of such a representation gives credit to the firm. Is Rohit liable as a partner in the firm ?

Practical Problems_Contract Act_90

Anurag promises to pay Rs. 11,000 to the management committee of a school by way of a donation. The management committee, on the basis of Anurag's promise, gets a Water Purifier System (Acquaguard) installed in the school at a cost of Rs.8,000 on credit. Now, Anurag refuses to pay the donation. What is the remedy available to the management committee of the school ? Give reasons.

Practical Problems_Contract Act_89

Ram sells the goodwill of his shop to Shyam for Rs. 4,00,000 and promises not to
carry on such business forever and anywhere in India. Is it valid agreement ? Why ?

Practical Problems_Contract Act_88

Kamala promises Ramesh to lend Rs. 50,000 in lieu of consideration that Ramesh
gets Kamala’s marriage dissolved and himself marries with her. Is it valid agreement why ?

What is restrictive & non-restrictive idorsement

A restrictive indorsement is an indorsement that contains some sort of instruction from the indorser.

A nonrestrictive indorsement is an indorsement that has no instructions or conditions attached to the payment of funds.

What is blank & special indorsement

A blank indorsement is an indorsement that does not specify a particular indorsee. It creates bearer paper.

A special indorsement is an indorsement that contains the signature of the indorser and specifies the person (indorsee) to whom the indorser intends the instrument to be payable. It creates order paper.

How order and bearer paper can be converted ?

Instruments can be converted from order paper to bearer paper, and vice versa, many times until the instrument is paid. The deciding factor is the type of indorsement placed on the instrument at the time of each subsequent transfer. An indorsement is the signature (and other directions) written by or on behalf of the holder somewhere on the instrument.