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Graded Discussion Board # 01 (MGT611 - Business & Labor Law) Last Date Wednesday, July 12, 2017

Scenario

Chandni Enterprise has three partners namely Mr. A, Mr. B and Mr. C. The firm is involved in trading of computer parts and monitors. One shop owned by Mr. A is being used by the firm for its operations. The said shop was not introduced as part of capital by Mr. A. Now Mr. A wants to withdraw his shop from firm’s use whereas other partners are not willing for this action. Besides he enters into an agreement with Zee traders to buy bulk of used monitors without taking consensus of other partners. Mr. B relinquishes the balance amount pending towards Mr. Shaban, a debtor of the firm. A dispute arises among the partners on all these issues.

Required:

You are required to provide solution for the disputed points among partners based on relevant provisions of Partnership Act 1932.

Instructions

  • Your answers should be precise and to the point.
  • Provide one liner reference of relevant provisions only. Do not write their details.
  • Do not copy from a web-site or another student.
  • Copied answers will be marked as Zero.


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Views: 1174

Replies to This Discussion

hi guys please share your ideas

koi solution post kre ga

Assalam o alikum 

Mr. B relinquishes the balance amount pending towards Mr. Shaban, a debtor of the firm.

Is issue ka matlab yehi hai na ke MR. B ne Mr. shaban jo ke debtor han firm ke un ka jo due payable amount hai wo maaf kar diya ?

Mujhe lagta hai ke MR. B baghair remaining partners ki consent liye baghair aisa nahi kar saktey hain tu q Mr. shabaan firm ke debtor hain Mr. B baghair consent liye baaki partners ki Mr. shabaan ki liability khatam nahi kar saktey . Agar agreement main likha hai ke MR. B ke paas ye ikhteyaar hai tu alag baat hai 

lekin this is only my point of view 

apny kr lia kya

is ka reply krny k leye ap ko in ki partnership deed read krna ho gi :/ 

Share your ideas pls.

Any Idea's ? your help is anticipated, can someone help ?

partner has an implied athority in a firm. But under this authority a partner is not allowed to reduce or writeoff and amount receivable by the firm from a third party.
partner has an implied athority in a firm. But under this authority a partner is not allowed to reduce or writeoff and amount receivable by the firm from a third party.

Also there should be an agreement between the partners which carries the activities of the business or they should hire the mediator to resolves the disputes among them.

Thanks a ton, it really helped.

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