Statistics, Index Numbers, And Analysis For Business 17 October

www.afterschoool.tk AFTERSCHOOOL MATERIAL FOR PGPSE PARTICIPANTS

MERCANTILE LAW

AFTERSCHOOOL – DEVELOPING CHANGE MAKERS

CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME –

World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship

OPEN FOR ALL FREE FOR ALL


MERCANTILE LAW

Dr. T.K. Jain.

AFTERSCHOOOL

Centre for social entrepreneurship

Bikaner

M: 9414430763

[email protected]

www.afterschool.tk

www.afterschoool.tk


I PURCHASED A LAPTOP FROM MOHAN, BELIEVING THAT THE LAPTOP IS MADE IN THE USA. HOWEVER, I LATER FIND THAT THIS IS MADE IN CHINA. I WANT TO CANCEL THE CONTRACT. CAN I?

NO


Ramu’s father promised Mohini’s father that He will pay Rs. 1 lakh per month to Mohini on getting married to Ramu. After marriage, he refuses to make any payments. Can Mohini claim this amount?

Yes – it is a valid contract.


Anil, 17 years of age, represents himself as 23 years of age (he looks like 23 years of age) and enters into a contract with Mahendra. Is the contract valid?

No


Anil, 17 years of age, represents himself as 23 years of age (he looks like 23 years of age) and enters into a contract with Mahendra. After 2 years, he again signs the contract and verifies it. Is the contract valid?

NO


Ramu is illiterate, he puts his thumb impression on a contract. Ramu later asserts that he didn’t know about the matter. Is the contract valid?

No – he must have been totally explained – then only the contract would be valid.


Sunidhi Chouhan promises to sing at the grand party organised by Rishabh, however, she doesn’t come. Rishabh gives advance also for booking. What can Rishabh do now?

Rishabh can demand damages (or specific performance – but the date is already over, so he can only demand damages).


I give advertisement for an auction in Bikaner on 20 August. One party came from Bangalore to attend the Auction. I cancelled the auction. The party says they incurred Rs. 20000 in travel and stay. They claim this amount from me as damages. What should I do?

I shall not pay anything – as there was no contract or any offer even.


Rishabh invited all his friends for a dinner on his grand achievements. He booked Hotel Lalgarh Palace and Hotel Gaj Kesari for this purpose. He spent Rs. 10 lakhs for this purpose. Nobody turns up. What can he do?

Nothing – he cant do anything.


Nidhi gave loan to Rama, Nisha and Alka jointly. The three started a micro finance company together. Nidhi asked Rama to repay the entire money on due date. Rama says that she will pay only 1/3. Nidhi wants to get entire money from Rama. Will she succeed?

Yes = Nidhi will succeed.


I found the hand bag of Rishabh on the street. The bag contained Rs. 10 lakh. I gave it to Lata to return it to Rishabh, who gave it to Rishabh. Now I ask Rishabh to pay me Rs. 1 lakh as my reward. I know that Rishabh has already given Lata Rs. 1 Lakh as reward. Can I succeed?

No.


Khushboo sold her agricultural farm house to Anju, believing that the farm house is 1000 hectares. Actually the farm house is only 20 hectares. Is this a valid contract?

No = mistake of facts.


Khushboo sold her agricultural farm house to Anju, believing that the farm house is in Kolayat, but actually it is located in Deshnok. Can Anju cancel this contract?

Yes = as there is material fact, which is missing.


I give a cheque to Ram. Ram changes the amount of the cheque and collects the money. Can I recover the amount?

Yes


I give a bill to Ramu. Shyam takes the bill and makes a false signature of Ramu and indorses it to Hari, who takes in good faith. Can Hari get the payment?

No – this is the case of forgery.


Amitabh gives a crossed cheque to me, I indorse it to Sonu. Can Sonu get the payment?

No (crossed cheque cannot be negotiated).


I and Lata make an agreement to trade some commodities. The particulars of commodities and price are yet to be finalised. Is it a contract?

No


I sell the Car of Rishabh to Ajay, while Rishabh was watching. Is Ajay now owner of the car? (I didn’t have any authority to sell the car)

Yes (as per law of estoppel).


I found a bundle of apples on a street. I couldn’t find the owner. I decided to eat these. When they were finished, Ramu comes and asks me to make the payment of apples. Will he get the payment?

In case of perishable goods, if the buyer is not found by reasonable efforts, the finder can dispose it off. Thus Ramu cannot claim any money.


I sold 10 bags of cement to Ram on sale or return basis and ask him to take 10 days to decide. On second day Ram accepts the cements and communicates to me. On third day the cement becomes stone. Who will bear the loss?

Ram (because he has already become the owner of the cement).


Ram, Mohan and Hari are partners. Hari applies for insolvency on 1.1.8. He is declared insolvent on 10.11.8. when will the firm dissolve?

10.11.8 answer.


Ram, Mohan and Hari are partners. Hari is sleeping partner. Hari becomes insane on 8.8.8. When will he the firm dissolve?

Firm will not dissolve – as Hari is a sleeping partner.


Ram and shyam decide to share their expenses of foreign tour, are they partners?

No.


Ram and shyam decide to share their awards at CONFLUENCE – IIMA Contest, are they partners?

No


Ram and shyam decide to work together. Ram will buy cotton from Sriganganagar and Shyam will sell it in Delhi, they share profits & losses equally. are they partners? There is no written agreement.

Yes – oral agreement can also make partnerships.


Ram and shyam decide to work together. They purchase a godown together and put it to rent and share the rent amount. Are they partners?

No – they are joint owners.


Ram and shyam decide to stay together. They take a room on rent and share the rent equally. Are they partners?

No.


Ram and shyam decide to work together. They don’t have any property together. They offer consultancy together and share the fees. Are they partners?

Yes


ABOUT AFTERSCHOOOL Afterschoool conducts three year integrated PGPSE (after

class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.


Why such a programme?

To promote people to take up entrepreneurship and help develop the society

To enable people to take up franchising and other such options to start a business / social development project

To enable people to take up social development as their mission

To enable people to promote spirituality and positive thinking in the world


Who are our supporters?

Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.

You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.


About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs

Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just

an employee Option to take up part time job – so earn while

you learn The only absolutely free course on internet


Workshops from AFTERSCHOOOL IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management,

Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad


Flexible Specialisations: Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social

relevance


Salient features: The only programme of its kind (in the whole world) No publicity and low profile course For those who want to achieve success in life – not just a degree Indepth knowledge and expertise Professional approac: World class approach Strong intellectual and business capabilities Flexible – you may stay for a month and continue the rest of the

education by distance mode. / you may attend weekend classes Scholarships for those from poor economic background Latest and constantly changing curriculum – keeping pace with

the time Placement for those who are interested Admissions open throughout the year Latest and most advanced technologies, books and study material


Components Pedagogy curriculum and approach based on IIM Ahmedabad and ISB

Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development Essential softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)


Pedagogy Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits Presentations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) Rural development / Social welfare projects


Branches

AFTERSCHOOOL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.


Case Studies

We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.


Basic values at afterschoool Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support

and help Ask fundamental questions : why, when, how &

where? Embrace change – and compete with yourself

only


www.afterschoool.tk social entrepreneurship for better society

Statistics, Index Numbers, And Analysis For Business 17 October

Technology

valid contract

contract valid

years of age

hand bag of rishabh

agricultural farm house

lata rs

grand party

demand damages