SEMESTER SPRING 2013
BUSINESS AND LABOUR LAW (MGT611)
ASSIGNMENT NO. 01
DUE DATE: 2ND MAY, 2013
“Kinds of Contract:”
• To help the students in understanding the laws of "Contract".
• To help the students in understanding the practical application of the laws of
contract in businesses.
• After attempting the assignment, students will be able to know about the
implementation of the law of "Contract".
• Students will be able to handle the situation caused by Coercion, undue influence,
fraud, misrepresentation, or mistake.
Mr. Yasir is an MBA graduate and is interested in establishing his own business, but as
he is a fresh graduate so he does not have some good ideas of what and how to start a
business for himself. To achieve his goal and meet his aim, he finally joined the company
of Mr. Khalid and Mr. Jamal, who deals in the computer accessories at famous center for
such a business. They had an agreement of 2 years, in which Mr. Yasir agreed with the
other partners that he will not carry on similar businesses at the business center until their
current business comes to an end.
After six months of the agreement, Mr. Yasir starts the same computer accessory
business in the same business center.
(a) Being a student of Business and labour law what kind of agreement took place
between the three parties? Justify your answer. (Marks 10)
(b) What would be the consequences of Mr. Yasir decisions to have another business
in the given scenario. Support your answer with solid arguments? (Marks 10)
24 hours extra / grace period after the due date is usually available to overcome
uploading difficulties. This extra time should only be used to meet the
emergencies and above mentioned due dates should always be treated as final
to avoid any inconvenience.
IMPORTANT INSTRUCTIONS/ SOLUTION GUIDELINES/ SPECIAL
OTHER IMPORTANT INSTRUCTIONS:
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.
• Use APA style for referencing and citation. For guidance search “APA
reference style” in Google and read various websites containing
information for better understanding or visit
RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel,
PowerPoint, PDF etc.
• It is cheated or copied from other students, internet, books, journals etc.
Note related to load shedding: Please be proactive
As you know that Pre Midterm semester activities have started
and the load shedding problem is also prevailing in our country.
Keeping in view the fact, you all are advised to post your activities
as early as possible without waiting for the due date. For your
convenience; activity schedule has already been uploaded on
VULMS for the current semester, therefore no excuse will be
entertained after due date of assignments, quizzes or GDBs.
An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at
the option of the other or others, is a voidable contract”
A contract becomes voidable in the following situations:
@ Where consent of a contracting party is not free
@ Where Promisor prevented from performance of the contract
An agreement on account of misrepresentation shall be voidable at the option of the person who is misled
by such misrepresentation.
In case a voidable contract is acted upon by a party as valid, that party cannot subsequently deny the validity
ap log q simple question ko complected bna rhe r confuse kr rhe sb ko
yaar koi tu full solution word file me share kar de last date hai
assignment chahiye to assignment hi mangoon ga na bike to nahi na mang sakta
agar hai to kindly shar kardo bhai
It is mentioned in the assignment case that they had an agreement not contract.
My question is: 'contract' or 'agreement'. does that make any difference???
Every contract is an agreement but every agreement is not a contract..
contract is an agreement which is enforceable at law..
Every promise constituting an offer and acceptance is an agreement.
It is a valid contract and it falls within section 27 of Contract Act.
assignment send karo discussion ko baad mein dekhien ge
Its not a valid contract see Void agreemet ke explanation main Partner s' agreement.
navid ahmad share your some idea to help others