Legal Environment of Business AU 2020

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1. Keerthi purchases some goods on credit from Durai, payable within 3 months. After 2 months, Keerthi makes out a blank cheque in favour of Durai, signs and delivers it to Durai with a request to fill up the amount due, as Keerthi does not know the exact amount payable by him.
Durai fills up fraudulently the amount larger than the amount payable by Keerthi and endorses the cheque to Bala in full payment of Durai’s own due. Keerthi’s cheque is dishonoured. Referring to the provisions of the Negotiable Instruments Act, 1881, discuss the rights of Durai and Bala.
2. Describe the provisions of The Limited Liability Partnership Act, 2008 and how does it differ from The Indian Partnership Act, 1932.
3. Explain the effect of a contract made by an agent with a third party – (a) where the agent discloses the existence but not the name of the principal; and (b) where the existence of the principal is not disclosed.
4. “Consumer Protection Act,1986 aims to provide for better protection of the interests of consumers and for that purpose to make provision for the establishment of consumer councils and other authorities for the settlement of consumers’’ disputes and for matters connected therewith”- Examine.

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