...| ASSIGNMENT 1 | BUSINESS LAW | | AHMER HAMMAD KHAN (7655) | 2/1/2011 | | Sources of Pakistani Mercantile Law Mercantile law is a part of civil law. It governs and regulates the trade and commerce in the country. Mercantile law deals with the needs of a business man. This includes laws relating to insurance, partnerships, contracts, companies, negotiable instruments, arbitration, carriage of goods etc. A mercantile law in Pakistan is taken from the English law. So it follows the English laws to a considerable extent with some modifications and reservations to suite with the Indian conditions and practices. Following are the main source of the Pakistan’s mercantile laws: 1. English Mercantile Law: An English law which developed and come into existence through the customs and usage of traders and merchants in England is the main source of the Indian Mercantile laws. These customs and usages of controlled the merchants in their dealings with each other. It is also known as the Common Law. It is unwritten and are based on customs, precedents and usages. The law of contracts is a part of Common law in England. It is one of the most important parts of mercantile law. 2. Indian Statute Law: Another main source of Indian Mercantile law is the Acts passed by the Indian Legislature. Pakistan Contract Act 1872, The Sale of Goods Act 1930, The negotiable Instrument Act 1881, The companies Act 1953 are some of the Acts passed by the Indian Legislature. 3. Judicial...
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...! College of Business Management Fall Semester 2009 Course Outline COURSE TITLE: Title: Business Law Code: LAW401 Credit Hours: 3 COURSE INSTRUCTOR: FAIZA AHMED AMIN COURSE DESCRIPTION This course will cover all the theoretical and practical aspects of Business, Commercial laws, keeping the current commercial scenario. COURSE OBJECTIVES • To develop an awareness of and an ability to understand both the common law and the statute in relation to contract, commercial, employment and business laws. • This course is aimed to benefit a manager working in a finance, marketing and HR environment. TEXT BOOKS AND REFERENCES: • N.D Kapoor: Elements of Mercantile Law • M.C Shukla: Mercantile Law GRADING & ASSIGNMENTS Evaluation Activity Mid-Term Exams Comprehensive Final Exams Quizzes/ Class participations 30 40 15 Points Evaluation Activity Assignments/ Presentations 15 Points There will be two sessions of 90 minutes each per week, which means 3 hours per week. Session No. 1 Topics Introduction: - Definition of Law - Types of Law - Distinction between main types Sources of Law - Holy Quran - Precedent - Legislation - Customs Judicial Systems of Pakistan Contract Laws in Pakistan - Types of Contracts - Essentials of a Valid Agreement Essentials of a Valid Agreement Offer and acceptance - Definition - Rules - Communication - Revocation Consideration Capacity Free Consent Lawful Object Dischargement of Contract 1st Mid Term Exams Remedies for Breach of Contract Lecture/...
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...Given name Surname Student number Email Unit name Unit code Assignment title Date submitted Student’s comment to tutor Shin Huey Tan 7E1A8643/ 15582218 7e1a8643@student.curtin.edu.my Company Law 266 10841 Seminar Essay 23 March 2012 Marker’s comments Recorded mark Marker Comments Step 1: Identify the Areas of Law The areas of law applicable to this problem are relationship between partners which particularly based on partner expulsion and liability to third parties or outsiders. Step 2: Discuss the Principles of Law Under Section 7(1) of Partnership Act 1895 WA, partnership refers to a structure where two or more persons in a business are acting in common with a view of profit. Partnerships can be formed formally by written agreement which contains the rights and obligations of the partners and facilitates the resolution of disputes within a partnership. However, if the agreement is deficient, Partnership Act will be referred for resolutions. Partnership can also be formed by oral agreement or implied by the conduct of the parties (Harris, Hargovan and Adams, 101-103). Partners in a partnership are in a fiduciary relationship which partners have the duty to act in good faith, including avoid conflicts of interests, not make private profits, not compete with the firm and not disclose confidential information. The rules related to interests, rights and duties of partners will be provided in the written or oral agreement. (Harris, Hargovan and Adams, 131). Nevertheless...
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...BM018-3-1-BLW – Business Law (Individual Assignment) By: FAGAN RZABEILI TP029475 Lecturer: Ms.Krystle Loh Su-Lin LEVEL: 1 Submission Date: 14-07-2014 ASIA PACIFIC UNIVERSITY OF TECHNOLOGY & INNOVATION Words Count: 606 * Question 1 In addressing the above question, the provision of this Act is where goods are sold by a person who is not the owner and who does not sell them under the authority of the owner, the buyer does not get any title. Thereby, owner of goods have rights to take goods from those who have no title to them. This is under English rule nemo dat quod non habet section 27 SOGA 1957. Refer to case Ng Ngat Siang v Arab-Malaysian Finance Bhd&Anor [1988] 3 MLJ 319. In any validity transactions or sales from one person to another always exists exceptions. In my case, the statement tells about the provisions of the Sale of Goods act 1957. Under SOGA, there are 6 exceptions where the buyer can still get the title fully referring to case of Commercial & Saving Bank of Somalia v Joo Seng Company. There are Estoppel, sale by mercantile agent, sale by One of Joint Owners, sale under a Voidable Title, Sale by a Seller in Possession after Sale and sale by a Buyer in Possession. Estoppel is where the buyer and seller relies on the owners conduct and the person who sells the goods has an authority to do so because the owner did not deny the sellers authority to sell (case of Eastern Distributers v Goldring). (Lylumalaysialaw...
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...Course Title: E-Commerce Course Code: 435 An assignment prepared as a part of BBA program by the students of 4th year 2nd Semester, under direct supervision of Mohammad Mizenur Rahman, Assistant Professor, Department of Business Administration, Shahjalal University of Science and Technology, Sylhet-3114. Assignment on: A Comparative Study on E-banking: A Study on Web information of Agrani Bank Ltd. & Mercantile Bank Ltd. Submitted to: Mohammad Mizenur Rahman Assistant Professor Department of Business Administration Shahjalal University of Science and Technology Sylhet-3114 Submitted By: Name Registration No. Subrata Ray 2007731005 Shams Md. Safwan Radi 2007731041 4th year 2nd Semester Department of Business Administration Shahjalal University of Science and Technology, Sylhet. Date of Submission: 1st January, 2012. A Comparative Study on E-banking: A Study on Web information of Agrani Bank Ltd. & Mercantile Bank Ltd. Electronic banking is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and-mortar institution. In other words electronic banking does not mean only 24-hours access to cash through an Automated Teller Machine (ATM) or through internet or Direct Deposit of pay checks into checking or savings accounts as many consumers may think. Electronic banking (e-banking) involves many different types of transactions; it is a form of banking...
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...An Assignment on “DEMUTUALIZATION” Course: Security Analysis & Portfolio Management (4203) Assigned By Dr. Mahmuda Akter Professor Dept. of Accounting & Information System University Of Dhaka Assigned To, Md. Robiul Alam Section-A, ID-16058, A&IS 16th Batch Dept. of Accounting & Information System University Of Dhaka Submission Date-20july,2013 Demutualization-A preface Metallization is the process by which a joint stock company changes legal form to a mutual organization or a cooperative, so that the majority of the stock is owned by employees or customers. Demutualization or privatization is the reverse process. Demutualization is the current trend among stock exchanges all over the world. It is the process of converting an organization from a mutual entity to a shareholder owned corporate body. Traditionally, stock exchanges operated as club-like mutual organizations where traders/brokers were the owners of the exchange as well as recipients of its services. Many stock exchanges operated on a not-for-profit basis; excess income was not distributed among the members as profit. The members were the owners of the exchange and also its customers. This is a distinguishing feature of traditional exchanges. On the other hand, in a profit making corporate body, the owners, decision makes and customers are three separate groups. By demutualization, an exchange’s mutual ownership structure is changed to a share ownership structure, therefore...
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...1. Scope It is now fairly well-settled that no person can sue on a negotiable instrument unless he is named therein as the payee or unless he becomes entitled to it as indorsee or becomes the bearer of an instrument payable to bearer. In the Full Bench case reported in Subba Narayana Vathiyar v. Ramaswami Aiyar,1 it has been held that in a suit on a negotiable instrument by the payee or indorsee, it is not open to the defendant to plead that the plaintiff is a mere benamidar not entitled to payment with a view to show that the note has been discharged by payment to real owner. Again in the Full Bench decision of the Patna High Court in Bacha Prasad v. Janaki,2 it has been held that a person who is not a holder of a negotiable instrument cannot maintain a suit for recovery of money due under it even though holder is admittedly the benamidar and is impleaded in the suit. In the said decision, it has also been held that "a beneficiary cannot be called a holder of the instrument and payment to him cannot discharge the maker thereof unless the case falls under section 82(c) of the Act". So also, it has been held in the decision reported in Subharaya v. Abiram,3 that a beneficiary does not become a holder of the instrument even upon getting a declaration that he is the beneficial owner and the payee is only a benamidar. In this connection it has to be noted that Allahabad and Rajasthan High Courts have taken a slightly different view and held that in certain cases a beneficiary may...
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...New Pacific Timber v Seneris (Negotiable Instruments) NEW PACIFIC TIMBER & SUPPLY COMPANY, INC. v SENERIS G.R. No. L-41764 December 19, 1980 FACTS: Petitioner, New Pacific Timber & Supply Co. Inc. was the defendant in a complaint for collection of money filed by private respondent, Ricardo A. Tong. In this complaint, respondent Judge rendered a compromise judgment based on the amicable settlement entered by the parties wherein petitioner will pay to private respondent P54,500.00 at 6% interest per annum and P6,000.00 as attorney's fee of which P5,000.00 has been paid. Upon failure of the petitioner to pay the judgment obligation, a writ of execution worth P63,130.00 was issued levied on the personal properties of the petitioner. Before the date of the auction sale, petitioner deposited with the Clerk of Court in his capacity as the Ex-Officio Sheriff P50,000.00 in Cashier's Check of the Equitable Banking Corporation and P13,130.00 in cash for a total of P63,130.00. Private respondent refused to accept the check and the cash and requested for the auction sale to proceed. The properties were sold for P50,000.00 to the highest bidder with a deficiency of P13,130.00. Petitioner subsequently filed an ex-parte motion for issuance of certificate of satisfaction of judgment which was denied by the respondent Judge. Hence this present petition, alleging that the respondent Judge capriciously and whimsically abused his discretion in not granting the requested motion...
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...Date: To Dr. Abdul Awal Khan Professor & Dean School of Business Asian University of Bangladesh, Dhanmondi Campus, Dhaka-1209. Subject: Submission of Internship Report. Dear Sir: I have great pleasure to replace before you my Practical Orientation in Bank report on Mercantile Bank Limited, 25/1, Zindabahar 1st Lane, Nayabazar, Dhaka, where I have completed my orientation in Bank program from 1st April to 30th June 2007 as a part of the BBA curriculum. I have observed and studied different functions of a bank and was assigned to submit a report on “A Practical Orientation Mercantile Bank Limited”. To prepare this report, I have gathered what I believe to be the most complete information available. Much of the information has been collected by reading different books, articles, annual report, web site etc, related to the Banking arena. The experience I have gathered during this period will remain as an invaluable asset of immense useful in my life. I have worked hard preparing this report and I hope it will satisfy my course requirement for BBA Program. I will be always available for answering any query on the report. I request you to excuse me for any mistake that may occur in the report despite of my best effort. Thanking You Sincerely yours, _____________ Imtiaj Uddin ID# 200310140 ACKNOWLEDGEMENT I am very glad that in spite of many limitations I have completed the Report successfully. Preparing this report, I received cordial and sincere assistance from many concerns...
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...1.0 Introduction 1.0 Background of the report As the student of Bachelor of Business Administration (BBA) every student has to conduct a practical orientation (Internship) on any organization for fulfilling the requirements of the B.B.A program. In order to fulfill this requirement of the Internship program I choose Mercantile Bank Limited (MBL). The main purpose of the program is to know the real world situation. The topic of my report is “General banking &credit on Mercantile Bank Limited”. In this regard I have opportunity to make my internship in Mercantile Bank Limited from July 22 to October22, 2009. The Mercantile Bank Limited is a scheduled private commercial bank established on May 20, 1999 under Bank Company Act, 1991 and incorporated as a public limited company under companies act, 1994. The bank started commercial banking operation from June 02, 1999. During this short span of time, the bank has been successful to position itself as a progressive and dynamic financial institution in the country. Involvement of the banking sector in different financial events is increasing day by day. At the same time the banking process is becoming faster, easier and the banking arena is becoming wider. As the demand for better service increases, the banking organizations are coming with innovative ideas. In order to survive in the competitive field of the banking sector, all banking organizations are looking for better service opportunities to provide to their clients. ...
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...ScholarlyScholarly Assignment-MACRO Analysis Research Strategies to be used by my Company For Keynes, the tension between rational calculation and the incalculable future is managed by the nature of humankind and our animal spirits . Keynes had an ambivalentview of uncertainty. He saw in the lack of rational control an undesired but unpreventableeffect of economic decision-making since the indeterminacy of the future is the prerequisitefor all autonomous and innovative rational activities. As Bernstein (1997, p. 229) puts it: ‘uncertainty makes us free.’This freedom to act is accompanied by the need to prepare for the undesired effects of risk-taking. The development of the statistical probabilistic skills to calculate the future contributed to the ‘modern’ response to uncertainty through insurance. Insurance was developed in Britain in the late 17th and early 18th centuries to meet the needs of mercantile capitalists to share the uncertainties of maritime trading. The growth and increasing wealth of the middle classes in the 19th century resulted in the expansion of insurance to protect against house fire and premature death (Evers and Novotny 1987, p. 36) Analyzation of the Macro environment using a PEST analysis The Macro Environment Analysis is traditionally the first step of a strategic analysis; it is sometimes referred to as an external analysis, a pest analysis or a pestle analysis. The purpose of the Macro Environment Analysis is to identify possible opportunities...
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...UNIVERSITY Faculty of Commerce Bachelor of Commerce Honours Degree in Business Management Course: BM105: BUSINES LAW ASSIGNMENT QUESTIONS a) Discuss the method of delivery in a contract of sale b) Explain the seller’s warranty against latent defects a) Discuss the method of delivery in a contract of sale Ownership in a contract of sale is transferred by the delivery of the property from the seller to the buyer, agrees Hutchison et al, (1991). In a contract of sale, both the seller and the buyer have roles/obligations to play/perform to qualify the sale. Apart from making a payment by the buyer and receiving of the same payment by the seller, there need for the object sold or the merx to be delivered to the buyer. Delivery is effected by the physical hand over of the property to the buyer and there are several varieties or options to do so. Either the thing itself is actually handed over, which is actual or real delivery or the thing is not moved at all, but the circumstances are such that, while the thing is not moved at all, the physical control nevertheless vests in the transferee or buyer Different methods of delivery are used, depending on the object or merx in the transaction. The seller has an obligation to deliver the thing under sale to the buyer in time; however the seller has no obligation to transfer ownership to the buyer, as the law compels him to only transfer the merx. In Kleynhams Vs Wessels Trustee, the court observed that ‘A contract of sale...
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...AN ASSIGNMENT ON “Design A Smart Appraisal System for Modern Organization” Submitted to: Khan Sarfaraj Ali Associate Management Counselor Bangladesh Institute of Management (BIM) Submitted by: Md. Mamun Hossain Personnel Management Evening Batch Roll: 15 Bangladesh Institute of Management (BIM) Date of Submission: August 02, 2009 Table of contents SL No Topic Page No. 01 Introductory Discussion 1 02 Methods of performance Appraisal 03 Traditional Methods of Performance Appraisal 04 Modern Methods of Performance Appraisal 05 Performance Appraisal Review Form 06 Conclusion 07 Bibliography Executive Summary Performance Means the degree or extent with which an employee applies his skill, knowledge, and effort to a job, assigned to him and the result of that application Functions of Performance Appraisal includes to identify and define the specific job criteria, to measure and compare the performance in terms of the definite job criteria . KSAs are set to measure job performance in quantitative or qualitative terms. To develop and justify a reward system, relating rewards to employee performance. To identify the strengths and weakness of employees and to decide on proper placement and promotion. To develop suitable training and developments programs for enriching performance of the employees. Methods of Performance...
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...Business Ethics - Assignment Submission On Unethical Behaviour in Organizations DOCUMENT DETAILS FILE: ASSIGNMENT-BUSINESS ETHICS CREATED BY: VISHESH M. KASHYAP & AJIT A. JOSHI CREATION DATE: 09-MAR-2013 VERSION NO: 1.0 Assignment 1 TABLE OF CONTENTS 1. ABOUT THE TOPIC – LIBOR SCANDAL ........................................................................................................................ 3 1.1. 1.2. 1.3. 1.4. 1.5. 1.6. 1.7. 1.8. INTRODUCTION TO THE CASE ..................................................................................................................................... 3 LIBOR AND ITS USAGE .......................................................................................................................................... 3 DETAILS OF THE CASE AND IMPACT ON STAKEHOLDERS ...................................................................................................... 4 UNETHICAL BEHAVIOUR OBSERVED ............................................................................................................................. 5 REMEDIAL MEASURES ........................................................................................................................................... 6 SUMMARY & CONCLUSION REMARKS .......................................................................................................................... 8 MISCELLANEOUS - ASSIGNMENT DOCUMENT RECEIVED ............................................
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...Assignment 1- The court structure In this assessment, I will describe the hierarchy of the civil courts, the criminal court and the differences between the two hierarchies. The purpose of this article is to inform the readers about the court structure and role of the different courts. A diagram of the court structure Supreme Court- this is the highest judicial court in a country or state. Court of appeal- the court of appeal is a court of law that hears appeals against both civil and criminal judgements from the Crown. This is the second higher court, high and County courts & consists of 2 divisions; Civil and criminal divisions In the civil division, the court of appeal hears appeals to do with civil law and family justice from the high court, tribunals and sometimes from the county courts. Whilst the criminal divisions hears appeals from the crown courts. Decisions of the High Court may be appealed to the Civil Division of the Court of Appeal. Crown court- deals with indictable criminal cases that have been transferred from the Magistrates’ Courts, including hearing of serious criminal cases (such as murder, rape and robbery), cases sent for sentencing, and appeals. Cases are heard by a judge and a jury. Decisions of the Crown Court may be appealed to the Criminal Division of the Court of Appeal. The county court also deals with civil (non-criminal) matters. Magistrates courts trials of summary offences, committals to the crown court, family proceedings court...
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