Reference no: EM132889200

Adress both section 1 and 2 in detail

SECTION 1

Q1. A gives an offer in the newspaper for the sale of his HP laptop for Rs. 15000. He also stated that Those who are willing to purchase can send a message to his mobile."" In this simple case consider the following situation and discuss the solution:

Question:

a) B was interested to purchase the laptop and sent a message stating that he wish to purchase for 12000. Was it an acceptance is given by B-

b) B was interested to purchase the same but he asked C to message on behalf of B. and C messaged as follows

"My friend B is interested to purchase your laptop for 15000" . Here is this a valid Acceptance? is A binded by the acceptance.

c) B who is much interested in purchasing the laptop had called Mr.A and given the acceptance through his phone. Is A obliged for acceptance given by

Q2. Mr. X invited Mr. Y his business partner for X's sisters marriage. Y accepted the invitation in this ground X booked a table in a costly hotel where the marriage takes place. Due to some reason Y could not attend the function. What type of contact is this. Is this a valid contract. Justify your answer.

Q3.a. Mr. A bought a printer from an electronics store for using it at home. The TV was defective. Is Mr. A a consumer?

Q4.Mr. X went to a electronic shop to purchase a TV for his newly built house. He asked the information about Samsung 40 inches LED TV to the shop keeper. The shop keeper being a dealer of other brands misguide the customer stating that Samsung had planned to stop the production of 40 Inch LED TV's. The shopkeeper made the customer believed the same and advice him to purchase some other brand.

The act of Shop keeper is Restrictive trade practice or Unfair trade practices?

Q5. On 1st March 2017, Alex agreed to sell his car to Beny for Rs. 80,000. It was agreed between themselves that the ownership of the car will transfer to B on 31st March 2017. when the car is gets registered in Beny's name. Justify whether it is sale or agreement to sell.

Q6. Anay purchased a second hand typewriter from Balu. Anay used it for sometime and also spend some money on its repairs. The typewriter turned out to be stolen one and as such Anay had to return it to the true owner chand. Is it a breach of Warranty or not. What remedy will Anay get?

SECTION 2

1. Discuss four ways in which a country could finance its public sector income

2. Outline six contributions of industries in the economic development of developing countries

3. Highlight six reasons why most developing countries have failed to realize the benefits of international trade

4. Examine eight consequences of unemployment in developing countries

5. Describe four factors that could limit effective application of the fiscal policy in developing countries