Name : Bidesh Guin

Subject : MB0051- LEGAL ASPECTS OF BUSINESS

Semester : III

Smu Assignments
Full Assignments (whole subjects)
Rs. 2500/Contact Devendra kachhi (8602695861)

Question 1. What are the rights of a surety?

Answer: 1. Rights against the creditor
In case of fidelity guarantee, the surety can direct a creditor to dismiss the employee whose
Question 2. Explain duties of a Bailor and a Bailee.
Answer : Duties of a bailor
To disclose known faults in goods (Section 150) The bailor is bound to disclose to
the bailee, all faults in goods bailed, of which he/she is aware of. These faults Question

3: Power of Attorney is considered as an important concept in Business Law.

Explain.
Answer: Power of Attorney
1 . Meaning
Power of attorney is defined by Section 2(21) of the Stamp Act as including any instrument
not chargeable with a fee under the law relating to court fees for the time being in force,
that empowers a specified person to act for and in the name of the person executing it. It is
Question 4. The Banking Regulation Act, 1949, provides various methods of
regulation of the banking business. Describe the key areas of regulation.
Answer : The Banking Regulation Act, 1949, provides various methods of control over
banks. In this section, we will first understand the key areas of controlling the organisation
of banks. Subsequently, we will also analyse the regulatory features of banking businesses.
1. Control on organisation
Some of the key areas of control exercised over the organisation and structure of banks are
as follows:
1

Name : Bidesh Guin

Subject : MB0051- LEGAL ASPECTS OF BUSINESS
Semester : III

Question 5: Explain the nature and scope of complaints under the Consumer
Protection Act?
Answer : To provide simple, speedy and inexpensive redressal of consumer grievances, the
Act envisages three-tier quasi-judicial machinery at the district, state and national levels. At
the district level, the redressal forum is called as District Forum. The State

Question 6. Explain the need and types of meetings.

Answer : Need for meetings
A company is an artificial person and therefore, must act through some human intermediary.
The various provisions of law empower shareholders to do certain things. They are

Smu Assignments
Full Assignments (whole subjects)
Rs. 2500/Contact Devendra kachhi (8602695861)