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Notre Dame University

Summer 2020 Trimester
Final Assessment Script

Student ID: 183010045 Dept.: Bachelor Business Administration Section: B

Course Code: LAW (2304) Course Title: Legal Environment of business

Batch: 12 Trimester & Date of submission: Summer 27.09.2020

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Answer to the question no 1

Doing business with none legal means to you're not right thanks to doing business. These is that the
course “Legal Environment of Business” it’s vital for our future and as a department of business
administration student need to skills doing business in legal way, what's the principles and regulations
of a business. So law may be a thanks to maintain order among business, brands, and corporations as
help to determine a particular standard for a way things should be run.

For both entrepreneurs and individuals who add the sector of business law, it's essential to ascertain all
sides of the undertaking you're handling . In these course we learn numerous things and that we can use
in future.

First is partnership business, the law is formed in 1932 according this Act, relationship between carried
on by all or anybody of them acting for all. So if we doing partnerships business, Partnership Deed is
extremely important, where the rights and obligation are going to be written, name, address, and
occupation of partners which will be mentioned. We learn also numerous rights of partners, what's the
duties of partners wish to be faithful, render true account, indemnify for fraud, to not claim
remuneration, share profit loss etc…

Second is corporate , it's in acted in 1994, section 2(1) © company means a corporation formed and
registered under this Act or a existing company. Before 1994 which companies are establish it are often
during a legal form, in order that these companies should be follow these instructions, rules and
regulations in 1994 act. a corporation establish by a legal formation, artificial entity, capital, perpetual
existence, number of shareholder, indebtedness company etc… the way to run a corporation there are
two important paper are Memorandum of Association and Article of Association, in these documents
there the way to business run, what's the activities of business, rules and regulations, internal manage
information that’s are included.

Third is Sales of excellent act, it's in acted in 1930, in these law which is merely applicable for
moveable goods. If anybody sells or transaction her property or any goods he or she need to follow
1930’s rules and conditions.

So at the top if we all know this stuff we've also idea about the business what's rights and wrong, in
above discussion we will understand in business how legality is vital.

Answer to the question no 2

Fact: Mr. Robi is the sole owner of the firm. He admits Mr. Alex as a partner. He will not be
responsible for any loss, not to bring any capital and all the powers of a partner.

Issue: Because Mr. Alex is a Sleeping or dormant partner. As we know dormant partner doesn’t take
part in the conduct of business. He contributes his share of capital and enjoy profit.. He isn’t liable to
third parties for the act of the firm.

Description: There are different sorts of partners and that they could also be classified within the
following manner: 1. Active Partner 2. Sleeping or Dormant Partner 3. Nominal Partner 4. Partner in
Profits Only 5. Minor as a Partner 6. Incoming Partner 7. Outgoing Partner 8. Partner by Estoppels or
Holding Out. A partner sharing the profits of the business without making himself liable for losses, if
any, is understood as partner in profits only. He contributes capital and is additionally susceptible to the
third parties like other partners. Such partners aren't allowed to require part within the management and
administration of the business.

Decision: As we know Mr. Robi is the sole owner of the firm so he take all the administrative in the
firm and take all the profits and losses and the other hand Mr. Alex take only profits.

Answer to the question no 3

Facts: A dealer in radios gives a ’Murphy’ radio to a customer on the terms that Tk. 1000 should be
paid by him immediately and Tk2000 more in two monthly equal installments . It was further agreed
that if the radio is found defective the customer may return it within a week but not later. The customer
makes default in paying the last installment.

Issue: Because if the radio is found defective customer may return it within a week but not later. It is in
contract of sale. In law in the case of sale of goods, the parties may agree that the price will be payable
by installment.

Description: In the case of installment we know that ownership of a product can be transfer after the
installment process has been done and the seller give the clearance of the selling product to the
customer and then the buyer can call him or herself as the owner of the product. So the radio dealer take
back the radio on his fault.

Decision: Yes, the radio dealer take back the radio on his fault. The customer will get the installment
that the company sell the product so when the customer pays the burnt installment but does not give it,
it will be the whole company.

Answer to the question no 4

Facts: In a private limited company it is mentioned in the articles of association that the majority of the
shares were held by the directors. The articles were altered and the directors were given powers to
compel members carrying on business in competition to sell their shares to a nominee of the directors.

Issue: In private limited company Director have the only administrative power besides that in here the
private company director have shares so he have a huge power.

Description: According to Sec. 2 (1) (c) the Companies Act,1994-“Company means a company formed
and registered under this Act or an existing company”. Thus, a company is an association of persons
formed under the Companies Act, 1994 with a view to achieving some common objectives. Though
company is regarded a legal person, it possesses similar rights and owes similar obligations like a
natural person. So the in here the director have a huge power.

Decision: yes, that alternative valid under the company act of 1994. Because director have the only
administrative power and he have shares in the company too.

Answer to the question no 5

Facts: Ali agreed to supply Binu 10 bags of first quality sugar for Tk 1600 per bag but supplied only
second quality sugar, the price of which was Tk 1500 per bag. Ali breached the condition of Contract.
Binu treat it as a breach of warranty and accept the second quality sugar and claim damages of Tk 100
per bag.

Issue: Because the law is violated. Ali agreed to supply Binu of first quality sugar but Ali breached the
quality of contract.

Description: In a contract of sale, parties make certain stipulations, agree to certain terms regarding the
quality of the goods, the price and the mode of its payment, the delivery of goods and its time and place
All stipulations cannot be treated on the same footing Some may be intended by the parties to be of a
fundamental nature, . Quality of the goods to be supplied, the breach of which therefore will be
regarded as a breach of the contract Some may be intended by the parties to be binding, but of a
subsidiary or inferior character., time of payment, so that a breach of these terms will not put an end to
the contract but will make the party committing the breach liable to damages The former stipulations
are called ‘conditions’ and the latter ‘warranties’. So in here Ali breached the quality of contract

Decision: Yes, Binu had an option to treat it as a breach of warranty and accept the second quality of
sugar and claim damages of TK. 100 per bag.