BUSINESS LAW CASE STUDY EXAMPLE
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The basic purpose of a case study in the business view is to provide a more thorough analysis of a situation or case. And also a case study is a piece of analysis. Case study writing is a rather difficult type of academic writing and it is very important for any student to have specific knowledge of the issue. Before going to write a case study you have to know about the three basic steps with the case study essay writing:
- analysis, and
- actual writing.
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Business Law Case Studies can be of different fields,
such as :-
- Banking laws
- Bankruptcy laws
- Consumer credit laws
- Contract laws
- Tenancy laws
- Sale laws etc.
In business laws questions asked can be of two types :-
Practical case study based questions
Straight forward theory questions
How our writers write Practical case study based questions?
Here is a sample :-
A, B, C are partners in a firm. They jointly promised to pay Rs.4,00,000 to D.
B becomes insolvent and his private assets are sufficient to pay 1/5 of his shares of debts. A is compelled to pay the whole amount to D.
Examining the provisions of The Indian Contract Act, 1872, decide the extent to which A can recover the amount from C.
These type of questions are answered by our experts as explained below,
Facts of the case :- A, B, C are partners who jointly promised to pay Rs.4,00,000 to D and Y became insolvent and assets are able to recover the only 1/5th of the share of debts.
Provisions of the law :- As per the provisions of the Indian Contract Act, 1872, in the case where the performance of the promise is to be done by the joint promisors, the liability shall be joint and several. In case any of the joint promisors becomes insolvent, his estate shall be liable for the debt. The loss of insolvent promisor shall be borne by the solvent promisors.
Conclusion :- B’s share was Rs.1,00,000 out of which only Rs.60,000 were recovered from his property. The loss of Rs.40,000 will be divided equally between A and C. Hence, the liability of A comes to Rs 1,40,000. If now A pays entire Rs.4,00,000 then he can recover Rs.1,60,000 from C.
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Business laws are laws constituted for smooth flow of business. If you have a business, you have to sale/ purchase which is a contract. Likewise all the labour laws like gratuity/bonus etc acts are also business laws since labour are part of business. If you are a company, you shall do business under companies act Income Tax Act and all other acts which are connected with business comes under business law.
Business Law deals with the legal rights, duties, liabilities of parties involved in any kind of business transactions related to commerce, trade, sales and merchandising and that’s why it is also called as “ Mercantile Law or Commercial Law.
Generally, it happens outside the courtroom.
It consists of topics Sales Act, Movable Property Act, Immovable Property Act, Contracts, etc.