Mohan would need to sign a contract of guarantee with the bank if he agrees to act as a surety for Rakesh's home loan. As a surety, Mohan assumes responsibility for repayment of the loan if Rakesh defaults. If Rakesh defaults, the bank can take legal action against Mohan to recover the outstanding amount. The document advertises assignment help services for Rs. 250 per subject from a website, including contact information for the service. It provides sample internal assignments in Business Law related to suretyship contracts, the Right to Information Act, and remedies for builders failing to deliver possession of a purchased property.
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INTERNAL ASSIGNMENT APPLICABLE FOR JUNE 2017 EXAMINATION
Business Law
1. Rakesh had approached Lena Bank for a Home Loan, one of the conditions of availing
Home Loan was to obtain a Surety. Rakesh had for this purpose convinced Mohan to act as
a Surety for Rakesh. Mohan agreed to act as a Surety for Rakesh. Can you explain what type
of contract that Mohan will have to execute with the Bank. Give the features of such type of
contract? In event of default by Rakesh, what steps can the bank take against Mohan? (10
Marks)
2. Please elucidate elaborately 2 practical instances where Right to Information Act, 2005
has increased transparency, accountability and better performance in the working and
administration of the public authorities. (10 Marks)
s3. Arvind had purchased a 3-BHK flat in Mumbai from Goldfin Builders in 2015. He had
entered into a registered Agreement with the Builder towards the purchase. Arvind was
promised possession of the Flat on or before 30th September 2016. The cost of the Flat was
Rs. 4 crores, which Arvind had entirely paid for. However, the Builder had not handed him
over the possession till date. Mr. Arvind has the Following queries:
a) Which Forum he should approach for filing a claim against the Builder? What reliefs
should Arvind claim against the Builder? (5 Marks)
b) Can you help Arvind in identifying with at least 2 legal precedent (cases) supporting his
claim against the Builder? (5 Marks)
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