DMBA219 LEGAL ASPECTS OF BUSINESS

Description

SESSION	JUL-AUG 2026
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	II
COURSE CODE & NAME	DMBA219 LEGAL ASPECTS OF BUSINESS

 

Assignment Set – 1

 

Q.1. Explain the different consumer rights provided under the Consumer Protection Act, 2019. Discuss their importance in protecting consumers. (5+5 = 10 Marks)

Ans 1.

Background of the Consumer Protection Act 2019

The Consumer Protection Act 2019 was created to update the previous 1986 legislation and enhance consumers’ rights in a rapidly evolving marketplace defined by internet commerce and novel advertising methods. It is recognised in the Act that consumers are not usually in as dominant a position as the sellers and hence gives some specific rights to consumers that are enforceable through consumer forums and other authorities. These rights guarantee fair treatment, accurate information, and an

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Q.2. Who is an unpaid seller? Explain the rights of an unpaid seller against the goods and against the buyer. (3+7 = 10 Marks)

Ans 2.

Meaning of an Unpaid Seller

An unpaid seller is a seller of goods who has not received the full payment because the price is not paid in full or bill of exchange given as payment is dishonoured. However, the Sale of Goods Act provides certain rights to such a seller, to ensure that their interest in the goods is safeguarded even after the goods have technically been sold to the buyer. Seller’s rights are granted to enable recoupment of monies or action to be taken if the buyer is defaulting on the contract.

Rights of Unpaid

 

Q.3. Explain the essential elements of a partnership under the Indian Partnership Act, 1932. Discuss the rights and duties of partners. (5+5 = 10 Marks)

Ans 3.

Meaning of Partnership Under the Indian Partnership Act 1932

According to the Indian Partnership Act 1932, Partnership is defined as the relation between persons who have agreed to carry on a business in common with a view to profit. This definition does demonstrate that a partnership is based on the agreement of individuals who work together to operate a business and share the profits in the business.

Essential Elements of a Partnership

The first requirement is that there must be some sort of contract, an agreement, between two or more individuals. Partnership is not based on status, but on contract, and thus family members who operate a business

 

Assignment Set – 2

 

Q.4. What is copyright? Explain the subject matter of copyright and discuss the rights of a copyright owner. (3+7 = 10 Marks)

Ans 4.

Meaning of Copyright

Copyright belongs to the group of intellectual property rights that are given to people who create original literary, art, music and some other works. It provides the creator exclusive rights to reproduce, distribute, perform and adapt their creation without the involvement of others. An idea itself will not be protected by copyright, but rather the specific expression of the idea; two people may write about the same idea without violating the other’s copyright, provided the manner of expression is

 

 

Q.5. Differentiate between the Memorandum of Association and Articles of Association. Explain their respective roles in the functioning of a company. (5+5 = 10 Marks)

Ans 5.

Meaning of Memorandum of Association

The Memorandum of Association is the fundamental charter of a company which lays down the relation of a company with the outer world. It specifies the name of the company, the State in which the registered office of the company is situated, objects of the company, the liability of its members and the size of the share capital with which it is registered. It is generally considered that anything the company does outside of the objects hereof will not be legal as it is not

 

 

Q.6. Explain the objectives of the Foreign Exchange Management Act, 1999. (10 Marks)

Ans 6.

Background of the Foreign Exchange Management Act 1999

Foreign Exchange Management Act (FEMA) was introduced in 1999 with a more liberal policy on foreign exchange transactions than its predecessor, Foreign Exchange Regulation Act (FERA). With the process of liberalising the Indian economy, there was a need to establish a legislation that would facilitate foreign trade and investment but provide a reasonable degree of control over India’s reserves. However, FEMA was created with this change in