SEMESTER 2013 BMLW 5103- BUSINESS LAW ASSIGNMENT OBJECTIVE: To evaluate the students understanding in the element which effect free consent in a contract‚ the issues of repossession under a hire purchase agreement and the formation and dissolution of a partnership. INSTRUCTIONS: Students have to discuss all the questions and justify their answer with correct provisions under respective statutes and relevant precedents. QUESTION 1: a) “In simple language‚ a misrepresentation is a representation
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SYLLABUS Annexure ‘ J ’ ACCOUNTANCY (055) CLASS XII (2012-13) One Paper Unit Part A : 1. 2. 3. 4. 3 Hours 80 Marks Periods Accounting for Partnership Firms and Companies Accounting for Partnership Firms - Fundamentals Accounting for Partnership Firms - Reconstitution and Dissolution Accounting for Share Capital Accounting for Debentures Marks 10 25 18 7 60 24 20 42 12 8 20 86 40 12 24 12 12 26 4 6 4 6 20 86 Part B: Financial
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1 – Partnership Ownership Changes & Liquidations - Heading Chapter 14: Partnership Ownership Changes & Liquidations 3 – Partnership Dissolution - #1 • Dissolution is a legal termination • UPA § 31 & 32: – admission or withdrawal of Pr results in Pp dissolution • When act of dissolution occurs‚ Prs may – continue business as new Pp or – liquidate 2 – Partnership Dissolution - Heading Partnership Dissolution 4 – Partnership Dissolution - #2 • Remember dissolution is not
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Suggested Answer – Question 1(a): Partnership In Malaysia The main law governing partnership in Malaysia is the Partnership Act 1961. Partnership is defined in Section 3(1) of the Partnership Act 1961 as: “Partnership is the relation which subsists between persons carrying on business in common with a view of profit”. One of the essential ingredients of partnership are there must be more than 1 person‚ and shall not exceed 20 persons to constitute a partnership. *In the case of Tan Teck Hee v Cheng
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Q.1 Discuss the nature and significance of business law? An analysis of business environment helps to identify strength‚ weakness‚ opportunities & threats. Analysis is very necessary for the survival and growth of the business enterprise. The importance of business environment is briefly explained in an analysis below. (1) Identification of Strength: The analysis of the internal environment helps to identify strength of the firm. For instance‚ if the company has good personal policies in
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secondary and the same arises if the third person fails to pay to the principal. What is due under the contract. MORRIES-V-CLEAS BY (1816) 4 M & S 566 : b) GOOD WILLS : PARTNERSHIP (SECTION 14) The property of a firm‚ in the absence of a contract to the contrary‚ includes the Good wills of the business (S.14 of the Indian Partnership Act). The term ‘Good will’ is not defined in the Act. It is property‚ speaking‚ a commercial rather than a legal term. It is the value of the reputative and connections
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W BLA 7 3 r e t p a Ch erg b d l o G r o s s e f o Pr Partnerships have existed for thousands of DETAILS: years. partnership can be created with no formalities‚ its partners are managers‚ partners are fiduciaries‚ partners have unlimited liability‚ and partners share profits and losses Example Two students agree to buy basketball tickets‚ to resell them (scalping)‚ and to share the profits. They may not intend to create a partnership‚ but they have. If one of the students has a bad night and
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ARISING FROM SOLE PROPRIETORSHIP AND PARTNERSHIP AMONG BUSINESSMEN IN TAGUM CITY ____________________ A Research Paper Presented to the Faculty of the College Department ____________________ In Partial Fulfilment of the Requirements in English 2A ____________________ By: Maghanoy‚ Laira M. Luma-ad‚ Chriselle Mae P. Lumotos‚ Flora Mae D. Chapter 1 THE PROBLEM AND ITS SETTING Background of the Study Sole proprietorship and partnership are forms of business organization
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CHAPTER 5 The Nature and forms of Commercial Organizations Commercial organizations may be classified into three (3) general classifications: 1. Private individual ownership 2. Public or government ownership 3. Mixed or both government and private ownership 1. Private Individuals Ownership Any form of business ownership may be organized and would have certain advantages and disadvantages which the business organizer must have to evaluate. According to Martinez‚ Abasolo‚ and Carlos
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BUSINESS ASSOCIATIONS OUTLINE I. Overview A. Major Course Themes i. Authority – what is corporation legally empowered to do and at what point is a corporation overstepping its bounds? ii. Responsibility – once authority has been established‚ what are the limitations of that authority – what is the duty of care? iii. Liability – what actions should directors take to insulate themselves and when can they be held liable for breaching duty of
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