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problem 1:

On 01st of February 2009 Universal Books Ltd posted an offer to sell 1,000 sets of encyclopaedias to the Ministry of Education for price of Rs 1,000,000 and stated that the offer would remain applicable up to 30st of March 2009. On 10th of March 2009, Mr Luck the Permanent Secretary of Ministry phoned Universal Books Ltd and asked whether the state would be allowed some credit facilities. The manager of Universal Books Ltd replied that payment must be made cash on delivery. On 1st of April Universal Books Ltd sold the consignment to private school. On 30th of March 2009 Mr Luck wrote to Universal Books Ltd and acknowledged the offer. The letter was received by Universal Books Ltd on the 2nd of April 2009 and manager immediately phoned Mr Luck and informed him that the sets of encyclopaedias had been sold and similar encyclopaedias were not accessible. Advise the parties of their liabilities if any.

problem 2:

Arbitration, the form of alternative dispute resolution (ADR), is a legal technique for resolution of disputes outside the courts, where the parties to dispute refer it to one or more persons for their decision.

Discuss and illustrate out the essence of Arbitration as a substitute to litigations.

problem 3:

The Ministry of Social Security has decided to buy a second hand building to convert same in a rehabilitation centre. The agreed price is Rs 140,000,000. How the contract would be influenced in following circumstances:

(a) The building was constructed devoid of a building permit.

(b) If the building has been destroyed by tsunami two hours before the contract was signed.

(c) The building wasn’t meant for housing persons of both sexes because of insufficient toilet facilities.

problem 4:

(a) Illustrate out the ways and circumstances in which a party to a contract can be discharged from his contractual liabilities.

(b) “Any breach of contract always allows the injured party to sue for damages” Discuss and describe.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M99006

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