Chowdhury Mobarrat Haider (2020-2-95-016)

Part B
Ans to the ques no 2
Sale by description: Where there is a contract for the sale of goods by description, there is an
implied condition that the goods shall correspond with the description and if the sale is by
sample as well as by description, it is not sufficient that the bulk of the goods corresponds with
the sample if the goods do not also correspond with the description.

The general rule regarding stipulation as to time is when unless a different intention appears
from the terms of the contract, stipulations as to time of payment are not deemed to be of the
essence of a contract of sale. Whether any other stipulation as to time is of the essence of the
contract or not depends on the terms of the contract.

Ans to the ques no 3

(1) Where a contract of sale is subject to any condition to be fulfilled by the seller, the buyer may
waive the condition or elect to treat the breach of the condition as a breach of warranty and not
as a ground for treating the contract as repudiated.
(2) Where a contract of sale is not severable and the buyer has accepted the goods or part
thereof, the breach of any condition to be fulfilled by the seller can only be treated as a breach
of warranty and not as a ground for rejecting the goods and treating the contract as repudiated,
unless there is a term of the contract, express or implied, to that effect.
(3) Nothing in this section shall effect the case of any condition or warranty fulfilment of which is
excused by law by reason of impossibility or otherwise

Ans to the ques no 6

In the partnership act 1932-Sec 18- a partnership is a relationship between partner who agree
to sharethe rofit, loss and others responsibilities and duties as well.

In sec 19 – implied authority of partner which they can not empowred:

1) Open banking account of the firm on behalf of his firm.

2) Acquire improvable property on behalf of the firm.
3) Enter into a partnership with other firm on behalf of firm.

Ans to the ques no 1

1) Suit for price: Where under a contract of sale the property in the goods has passed to the
buyer wrongfully neglects or refuses to pay for the goods according to the terms of the contract,
the seller may sue him for the price of the goods.

2) Damages for non-acceptance: Where the buyer wrongfully neglects or refuses to accept and
pay for the goods, the seller may sue him for damages for nonacceptance.

3) Damages for non- delivery: Where the seller wrongfully neglects or refuses to deliver the
goods to the buyer, the buyer may sue the seller for damages for non-delivery

Ans to the ques no 7

Partner’s Authority is an Emergency: Section-21 extends the authority of a partner I an
emergency and lay down that “ a partner has authority in an emergency to do all such acts for
the purpose of protection the firm from loss as would be done by a person of ordinary prudence
in his own case, acting under similar circumstances and such act bind the firm.

1) Liability of a partner for acts of the form: Every partner is liable jointly with all the other
partners and also severally for all acts of the firm done while he is a partner.
2) Liability of the firm for wrongful acts of a partner: The wrongful act of omission of a
partner acting in the ordinary course of the business of the firm on with the authority of
his partners.
3) Liability of the firm for misapplication by the partners: where a partner acting within his
apparent authority eceives money or property from a third party and misapplies it.

Ans to the ques no 15

Extraordinary resolution: A a resolution is an extraordinary resolution if -i) in the notice it was
mentioned that this would be an extraordinary resolution; ii) passed by a majority of three fourth
of the members who are entitled to vote as are present in person or by proxy, where proxy is
allowed.

Special Resolutions: A special resolution is a resolution -i) which has been passed by such a
majority as required for passing an extraordinary resolution; ii) in the notice it was mentioned
that the resolution would be a special resolution; and iii) a notice of not less than 21 days’ has
been giffirm

Ans to the ques no 5

General duties: Every partner has the following general duties like carrying on the business to
the greatest common good, duty to be just and faithful towards each other, rendering true
accounts, and providing full information of all things affecting the firm.
 Ans to the ques no 4
The meaning of implied term as to quality or fitness under the Sale of Goods Act is subject to
the provisions of, this Act and of any statute in that behalf, there is no implied warranty or
condition as to the quality or fitness for any particular purpose of goods supplied under a
contract of sale, except as follows fitness.

(a) An implied warranty or condition as to quality or fitness for a particular purpose, may be
annexed by the usage of the trade.

(b) Where goods are bought by description from a seller who deals in goods of that description
(whether he be the manufacturer or not), there is an implied condition that the goods shall be of
merchantable quality; provided that if the buyer has examined the goods, there shall be no
implied condition as regards defects which such examination ought to have revealed.

(c) An express warranty or condition does not negative a warranty or condition implied by this
Act unless inconsistent therewith.

Ans to the ques no 11

Difference between Mediation and Conciliation:

1) Mediation it is the process of resolving issues between party where third party assist them in
resolving dispute, while in conciliation method in which an expert is appointed to settle dispute
between the parties.

2) Mediation mainly refer to code of civil procedure 1908 while, conciliation refers to arbitration
and conciliation act 1996.

3) confidentiality That depends on trust in mediation, while confidentiality those extent by law.

4) Mediator and act as facilitator, while conciliator act as facilitator and evaluator

5) In mediation there is an agreement between the parties. But in conciliation there is a

settlement agreement between the party.

6) mediation is enforceable by law, while it is executable as decree of Civil Court.

Ans to the ques no 14

Annual general meeting is mainly held for the following purposes:

A) Showing financial statement B) Dividend and profit declaration C) Relationship network 4)

Declare the future strategies
Legal consequences of not holding an AGM within the prescribed time

If a company, private or public, having a share capital or not, limited or unlimited fails to comply
with the provisions of Section 96 i.e., does not hold its AGM within the prescribed time then the
Tribunal under Section 97 of the Act of 2013 is empowered to call or direct the calling of AGM of
such company on the application of any member of the company and further order for any
consequential or ancillary measures or directions as it deems fit or appropriate under the
circumstances. Such meeting held under the directions of the tribunal shall be deemed to be an
AGM of such company

Part A
True False
1. F

2. T

3. F

4. T

5. T

6. T

7. F

8. T

9. F

10. F

11. T

12. T

13. T
14. T

15. T

16. F

17. T

18. F

19. F

20. F