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1. Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724
Name : Mary Jennifer.A Marks : 80
Course : Specialisation
Subject : Business Administration
Answer the following question.
Question. 1. Define Bailment and explain (10 marks)
Answer: Bailmentisakindof activityinwhichthe propertyof one person temporarily goes into the
possession of another. The ownership of the property remains with the giver, while only the
possessiongoestoanother.Several situationsindaytodaylife such as giving a vehicle for repair, or
parking a scooter in a parking lot, giving a cloth to a tailor for stitching, are examples of bailment.
Section 148 of Indian Contract Act 1872, defines
Question. 2. What is FERA? (10 marks)
AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-
SCHOOL

2. Answer: The Foreign Exchange Regulation Act (FERA) was legislation passed in India in 1973 that
imposedstrictregulationsoncertainkindsof payments,the dealingsinforeignexchange (forex)and
securitiesandthe transactionswhichhadanindirectimpactonthe foreignexchangeandthe import
and export of currency. The bill was formulated with the aim of regulating payments and foreign
exchange.
FERA was passed by the Indian Parliament in 1973 by the government of Indira Gandhi and came
into force with effect from January 1, 1974.
FERA was introduced at a time when foreign exchange (
Question. 4. Explain gifting of Corporate veil (10 marks)
Answer: From the juristic point of view, a company is a legal person distinct from its members
[Salomon v. Salomon and Co. Ltd. (1897) A.C 22]. This principle may be referred to as the ‘Veil of
incorporation’.The courtsingeneral considerthemselvesbound by this principle. The effect of this
Principle isthatthere isa fictional veilbetweenthe companyanditsmembers.That is, the company
has a corporate personality which is distinct from its
Question. 5. Who is a small depositor (10 marks)
Answer: Small depositor is a depositor who has deposited a sum not exceeding Rs. 20000 in a
company in a financial year. The following are the provisions to protect the interest of small
depositors:
1) If a company is accepting any deposit from small depositors then it shall inform Company Law
Board of any default made by it in repayment of
Question. 6. Discuss purpose of guarantee (10 marks)
Answer: Guarantee is a legal term more comprehensive and of higher import than either warranty
or "security".Itmost commonly designates a private transaction by means of which one person, to
obtain some trust, confidence or credit for another, engages to be answerable for him. It may also
designate a treaty through which claims, rights or possessions are secured.
Question. 7. What are Promisory notes (10 marks)
Answer: A promissorynote isa legal instrument(moreparticularly,afinancial instrument), in which
one party (the makeror issuer) promisesinwritingtopaya determinate sum of money to the other
(the payee),eitherata fixedordeterminablefuture timeorondemandof the payee, under specific

3. terms. If the promissory note is unconditional and readily saleable, it is called a negotiable
instrument.
Referredtoas a note payable inaccounting(asdistinguished from accounts payable), or commonly
as just a "note", it is internationally defined by the Convention providing a uniform law for bills of
exchange andpromissorynotes,althoughregional variationsexist.A banknote isfrequentlyreferred
to as a promissory note: a promissory note made by a
Question. 8. Discuss Ultra Vives Borrowing (10 marks)
Answer: Every trading company has an implied power to borrow, as borrowing is implied in the
object for which it is incorporated. A trading company can exercise this power even if it is not
includedinthe Memorandum.Howevernon-trading company has no implied power to borrow and
such power can be taken by it implied power to borrow and such power can be taken by it by
including a clause to that effect in the Memorandum.
The ability to borrow more funds. A person or
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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