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NMIMS Assignment Question
Q1. Concept of “indemnification” is undergoing a major overhaul in the current regime of globalization. Discuss this concept from the perspective of international commercial transactions and outline the challenges faced by both business houses & law makers.
Q2. The idea of Limited Liability Partnership was not widely adopted by the Indian market as it was expected. Discuss the reasons, identify lack of tax reforms and outline the relevance of LLPs.
Q3. Imagine you visited a mall with valet parking. You gave your car key to the mall’s staff to park your car. The parking tag given by the mall’s staff reads “In the event of any loss, theft or damage, the management shall not be held responsible for the same and the guest shall have no claim whatsoever against the management”. When you came out of the mall, you learnt that someone stole your car key and stole your car. In spite of the police complaint, the car is not traceable. Insurance company settles your claim of Rs.3 lakhs. Please analyse following points
a. Thereafter, can you issue a letter of subrogation in favour of the insurance company and approach the Consumer Commission by filing a complaint against the Mall’s management seeking payment of the value of the car and compensation for deficiency in service? Give your reason for either of your answer (5 Marks)
b. Analyse whether you are a “bailer” and mall’s management is “bailee” in the aforesaid case