Advertisements
Advertisements
प्रश्न
Legal Principle: A characteristic feature of partnerships is the principle of mutual agency, i.e., every partner is an agent for every other partner and will hence be able to bind them by his act, within the business of the partnership.
Fact Situation: Ram and Shyam are partners of M/s R & S Trading Company which trades in rice varieties. Ram agrees to purchase ten tons of rice from Govind. Ram dies after the rice is delivered to the premises of M/s R & S Trading Company but before the payment of the price is made. Is the agreement binding on Shyam?
Which of the following statements is the most appropriate in relation to the legal principle stated above?
विकल्प
Being partners, Ram’s agreement to purchase rice for their partnership is not binding on Shyam.
Since Ram is no more, the agreement is not binding on Shyam.
Being partners, Ram’s agreement to purchase rice for their partnership is binding on Shyam.
The agreement is binding on Ram and not on Shyam since the rice is delivered only to M/s R & S Trading Company and not to Shyam.
Advertisements
उत्तर
Being partners, Ram’s agreement to purchase rice for their partnership is binding on Shyam.
Explanation:
Every partner is an agent of the firm and his other partners for the purpose of the business of the partnership; and the acts of every partner who does any act for carrying on in the usual way business of the kind carried on by the firm of which he is a member bind the firm and his partners unless the partner so acting has, in fact, no authority to act for the firm in the particular matter, and the person with whom he is dealing either knows that he has no authority or does not know or believe him to be a partner. The above discussion clearly explains that there is a mutual agency between partners acting within the authority for the purpose of the business of the partnership, thus option (3) is the most appropriate statement that is being partnered, Ram's agreement to purchase rice for their partnership is binding on Shyam.
APPEARS IN
संबंधित प्रश्न
Consists of legal proposition(s)/ principle(s) (hereinafter referred to as 'principle') and facts. Such principles may or may not be true in the real and legal sense, yet you have to conclusively assume them to be true for the purposes of this Section. In other words, in answering these questions, you must not rely on any principle except the principles that are given herein below for every question.
Further, you must not assume any facts other than those stated in the question. The objective of this section is to test your interest in the study of law, research aptitude, and problem-solving ability, even if the 'most reasonable conclusion' arrived at may be absurd or unacceptable for any other reason. It is not the objective of this section to test your knowledge of the law.
Therefore, to answer a question, the principle is to be applied to the given facts and to choose the most appropriate option.
Principle: When a person who has made a promise to another person to do something does not fulfill his promise, the other person becomes entitled to receive, from the person who did not fulfill his promise, compensation in the form of money.
Facts: ‘X’ made a promise to ‘Y’ to repair his car engine. ‘Y’ made the payment for repair. After the repair, ‘Y’ went for a drive in the same car. While driving the car, ‘Y’ met with an accident due to the bursting of a tire.
LEGAL PRINCIPLE When a contract has been broken, the party who suffers by such breach is entitled to receive, from the party who has broken the contract, compensation for any loss or damage caused to him thereby, which naturally arose in the usual course of things from such breach. or which the parties knew, when they made the contract to be likely to result from the breach of it. Such compensation is not given for any remote or indirect loss or damage sustained by reason of the breach. Decide, whether and to what extent B is entitled to damages in the following situation.
FACTUAL SITUATION A contracts with B to sell him 1000 tonnes of iron at ₹ 100 per tonne. B tells A that he needs the iron for export purposes, and that he would be selling the iron at ₹ 200 per tonne. A breaks the contract. When the question comes about damages, A says he will pay only ₹ 5000 as damages because the same variety of iron was available in the market at ₹ 105 per tonne. B however contends that he should be given ₹ 100000 because that was the profit which )he would have made had A fulfilled tbe contract B had actually bought the iron at ₹ 110 and had exported it. B is
The frustration of contract implies
Given below is a statement of legal principle followed by a factual situation. Apply the principle to the facts and select the most appropriate answer.
Principle: The object of an agreement is lawful unless it is forbidden by law; is of such a nature that, if permitted, it would defeat the provisions of any law; is fraudulent; involves or implies injury to the person or property of another person; the court regards it as immoral; it is opposed to public policy.
Factual Situation: The BCCI decided to hold an auction to sell IPL teams. 12 bidders registered for the auction. Unknown to the BCCI, these 12 bidders had entered into a contract that they would not bid more than a certain amount.
Apply the legal principles to the facts given below and select the most appropriate answer.
Legal Principles:
1. Consideration is something that moves from the promisee to the promisor, at the implied or express request of the latter, in return for his promise. The item that moves can be a right, interest, profit, loss, responsibility given or suffered, forbearance, or a benefit which is of some value in the eyes of law.
2. An offer may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterward.
Factual Situation: The defendant, Mr. Dhawan, wrote to the complainant, Mr. Chaman, with an offer to sell his house to him for Rs. 8,00,000. He promised that he would keep this offer open to him until Friday. However, on a Thursday Mr. Dhawan accepted an offer from a third party and sold his house. According to Mr. Chaman, he was going to accept this offer but had not said anything to Mr. Dhawan because he understood that he had time until Friday. Mr. Dhawan communicated to Mr. Chaman that the offer had been withdrawn, through a friend to the complainant. After hearing this, Mr. Chaman went to find the defendant, informing of his acceptance of the offer. Thereafter, the complainant brought an action for specific performance and breach of contract against the defendant. Whether the defendant's promise to keep the offer open until Friday morning was a binding contract between the parties and whether he was allowed to revoke this offer and sell to a third party?
LEGAL PRINCIPLE Where the parents of a minor child due to their negligence allow the child an opportunity to commit a tort, the parents are liable.
FACTUAL SITUATION The father supplied an airgun to his son who was about to turn 18 next month. After some complaints of mischief. the father took the gun away and placed it in a corner of their storeroom which was used by the family to store surplus and other unnecessary stuff. The son took it out of the store and shot A. A sued his father. Is the father liable? DECISION:
Given below is a statement of legal principle followed by a factual situation. Apply the principle to the facts and select the most appropriate answer.
Principle: The owner of a land is entitled to the column of air space above the surface ad infinitum. But, the right is restricted to such height as is necessary for the ordinary use and employment of his land, and the structure on it.
Factual Situation: A had constructed a single-storeyed house on a corner site. He had no intention of building an additional floor. B his neighbour, who ran an internet parlour got a hoarding made, which protruded over A's house at a height of around 6 feet above the terrace. A sues B for trespass.
Given below is a statement of legal principle followed by a factual situation. Apply the principle to the facts and select the most appropriate answer.
Principle: A contract requires a proposal and acceptance of the proposal. It is necessary to make a binding contract, not only that the proposal is accepted, but also that the acceptance is notified to the proposer.
Factual Situation: A sent a letter to B stating that he was willing to sell to B, 10 bags of rice at ₹ 20/- each. B wrote a letter to A accepting the offer and posted it.
Principle: The transferor of goods cannot pass a better title than what he himself possesses.
Facts: 'X' sells a stolen bike to 'Y' 'Y' buys it in good faith. As regards the title to bike, which of the following derivations is correct?
Principle: Contract is an agreement entered into between the parties.
Factual Situation: Ramlal was a dealer in cement. The Government of India, by an order issued under the Essential Commodities Act, fixed the price of cement and also, the quantity which a person can buy from the dealer, Ramlal carried on his business under this new order for some time, but he refused to pay sales tax on his sales transactions on the ground that these were not the contracts freely entered into by him.
Decision
