09-03-2007, 08:11 PM
a)A borrowed Rs 50000 from B by giving a promissory note in his indivdual capacity.He used the proceeds of the note in the partnership business.While A had gone abroad for medical reasons ,B sued the partnership as the promissory note became overdue.
Explain whether the firm is liable to pay the amount.
Would it make any difference if A had informed B that the borrowing was being made for the purpose of the firm?
b)A made a coat from the fur of a Bengal tiger which he had hunted when there was no restriction under the law on such hunting.The law in place currently, restricts such hunting activities.B,a freind of A,saw this coat at a's house and offered to buy it for 500000.A agreed to sell it.Later A backed out of his promise.What is the course of action available to B?
Please suggest ur answers.
Explain whether the firm is liable to pay the amount.
Would it make any difference if A had informed B that the borrowing was being made for the purpose of the firm?
b)A made a coat from the fur of a Bengal tiger which he had hunted when there was no restriction under the law on such hunting.The law in place currently, restricts such hunting activities.B,a freind of A,saw this coat at a's house and offered to buy it for 500000.A agreed to sell it.Later A backed out of his promise.What is the course of action available to B?
Please suggest ur answers.
