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BUSINESS LAW
SUBMITTED BY
MANU VARGHESE
PART A
LAW OF OBLIGATIONS
1. Within the given state of affairs, there happened a breach of settlement. For the reason that
objects that Anu ordered become not a new version, she will claim against the provider for
misrepresentation. She has the right to get it changed and to get a brand new model or can ask for
the price that she paid to buy the gadget in conjunction with a applicable quantity of
compensation.
2. There's little need in submitting a match in opposition to Kiran via Benny. When you consider
that Kiran become the one who made offers regarding the specification works; Benny have to
take delivery of the issue on his activity and should pay the sufficient quantity which charges to
the ones works. Because the contract turned into made completed as per the settlement without
any trouble, Benny is compelled to make the fee.
3. Even though the settlement became made for a set amount; Ram, the only who entered is at
risk of pay the excess quantity to Shyam. It isn't always Shyam’s fault that created the shortage
of skilled labours and materials. As a end result, excess of time turned into taken consequently
and additional value have occurred. Therefore, Ram have to pay the amount that Shyam
demanded.
4. This case highlights the situation “vicarious liability”, which means that a person is made
answerable for the movements of every other person. Here, Milind is the guarantor of Binu, and
is therefore chargeable for his doings. He must do the vital things in addition to the applicable
compensation.
5. Prakash have the right to get lower back the watch, which turned into given to Sachin for a
length of only one week. Despite the fact that the watch became repaired a bit overdue, on the
premise of “Quantum meruit”, which means that price for the work executed, Sachin has the
right to get his fee.
PART B
1. COMPANIES
A company is any entity that engages in business. Liability in most types of company is assumed
by the owners, and can either be limited or unlimited depending on the type.
1.1 CEAT
CEAT, the flagship company of RPG Enterprises, was established in 1958. Its predecessor Cavi
Elettrici e Affini Torino SpA was established in Italy in 1924. Today, CEAT is one of India’s
leading tyre manufacturers and has presence in global markets, and has a capacity of over
95,000+ Tyres per day.
Headquarters: Mumbai
Sources of finance
Tie up with automobile industry
Long term debentures
Investment
1.2 GAIL
GAIL (India) Limited is the largest state-owned natural gas processing and distribution company
headquartered in New Delhi, India. It has following business segments: Natural Gas, Liquid
Hydrocarbon, Liquefied petroleum gas Transmission, Petrochemical, City Gas Distribution,
Exploration and Production, GAILTEL and Electricity Generation.
Sources of finance
Internal sources of funding(Customer, Profits)
Medium term debenture(Installment sale, leasing)
Source of finance
Asus’s shares are of high margins with minimum capital funding needs, permits it to supply
strong unfastened coins glide. The corporation’s fundamental earning is through sale of its
merchandise.
2. PARTNERSHIP
A partnership is an arrangement in which events, referred to as partners, comply with cooperate
to enhance their mutual interests. The companions in a partnership may be individuals,
businesses, hobby-primarily based businesses, colleges, governments or combos.
Sources of finance
Personal saving
Additional partners
Small business loan
Sources of finance
Friends and family
Private Investors
Cash from their family and also borrows from their friends and family. Borrowing from investors or non-
public monetary establishments is the first supply of finance for their business. And taking small small
lease from there knowing ones helped them to reach higher. By this they got many more investors.
2.3 Mc DONALD’S
Founded: 15 April 1955, Des Plaines, Illinois, United States
Sources of finance
Loan
Retained earnings
They started their business by taking loan from an area corporative bank in their neck of the
woods, paying a nominal rate of interest per month. They started this business by raising initial
capital from his family.
3. NGO
Key people
Website http://www.smilefoundationindia.org
Sources of finance
Medium term debentures
Community Stakeholders
They get help from the people, groups, organizations or businesses that have interest or concern
in the community. Stakeholders can affect or be affected by the community's actions, objectives
and policies. They take loan from commercial banks for there working.
Sources of finance
Donors
Trusts and foundations
Many of our interventions such as the Restoration of Vision and the Sponsor A Grandparent
programmes receive wide support from Trusts & Foundations across the country. Organisations
such as the Palriwala Foundation are pillars of Nanhi Kali. And through collection of charity
funds from schools, collages and public places.
Sources of finance
Individuals
Corporate and Business house