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MGT611 - Business & Labor Law Graded Discussion Board (GDB) NO.1 Solution and Discussion Fall 2014 Due Date: May 14, 2014

Dear Students,

This is to inform that Graded Discussion Board (GDB) No. 01 will be opened on May 13th, 2014 for discussion and last date for posting your discussion will be May 14th, 2014

 

Topic/Area for Discussion

 

 “Consideration”

 

This Graded Discussion Board will cover first 13 lessons.

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Replies to This Discussion

Please all students related this subject Share your online Quizzes here to help each other.thanks

 

Please share the question and their answers of this quiz if anyone has done.
Thanks. 

MArks=5
Starting Date Tuesday, May 13, 2014
Closing Date Wednesday, May 14, 2014
Status Open
Question/Description

BUSINESS & LABOR LAW (MGT611)

GDB 01

 

 

Question

Mr. Nafees, a farmer, bought a cow for Rs. 100,000 from Mr. Ahmed. One day later, Mr. Ahmed assured Mr. Nafees that the cow was healthy and free from any disease.

After one week, it was found that the cow had been suffering from a specific disease. Over this, Mr. Nafees sued Mr. Ahmed to cancel the contract and return his money because of Mr. Ahmed’s statement that the cow was free from any disease.

Do you think Mr. Nafees is right in his claim or not? Discuss in the context of ‘consideration’ in this agreement.

The claim of Mr.Nafees is right 

Baqi explanation kal 

Read Lec#8

MGT611 gdb idea soul



Consideration'

The money that an individual pays to an insurance company in exchange for a financial instrument that provides a stream of payments for a given length of time. An annuity consideration may be made as a lump sum or a as a series of gradualpayments.


Also referred to as a "premium".
Explain:

The payments provided by the annuity can be distributed monthly, quarterly, semiannually or annually. Payment amounts are based on a number of factors, including the amount of the annuity consideration, the age at which the annuitant begins receiving payments, the annuitant's life expectancy, the annuity's anticipated investment returns and whether the annuity is fixed or variable.

this is totally wrong

Tehrim plzzzzzzz Explain about context of ‘consideration’ in this agreement.

It is necessary element of a binding contract. This has already been assumed in S. 10. The present section goes on to state the exceptional cases in which consideration may be dispensed with. It is curious that the Act nowhere explicitly states that mutual promises are sufficient consideration for one another. so Mr. Nafees is right to claim to cancel the contract because it is void due to insufficient consideration. 

Question

Mr. Nafees, a farmer, bought a cow for Rs. 100,000 from Mr. Ahmed. One day later, Mr. Ahmed assured Mr. Nafees that the cow was healthy and free from any disease.

After one week, it was found that the cow had been suffering from a specific disease. Over this, Mr. Nafees sued Mr. Ahmed to cancel the contract and return his money because of Mr. Ahmed’s statement that the cow was free from any disease.

Do you think Mr. Nafees is right in his claim or not? Discuss in the context of ‘consideration’ in this agreement.

 

Important Instructions:

  • Your discussion must be based on logical facts.
  • Do not provide any theory or definition.
  • The GDB will remain open for 2 working days.
  • Your answer should not exceed 200 words.
  • Do not copy or exchange your answer with other students.
  • Obnoxious or ignoble answer should be strictly avoided.
  • Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.

MGT611 - Business & Labor Law

GDB # 1

 Mr. Nafees is right in his claim because of insufficient consideration. Because at the time of contract Mr. Ahmed assured Mr. Nafees that the cow was healthy and free from any disease. But later his consideration did not prove true.  Mr. Nafees have a right to cancel the contract. It also violates the rule that value promised to the Mr. Nafees did not prove factual. Because later cow was suffering from a specific disease. Consideration is a Thoughtfulness decision at the time of contract here introspection of the contract and myth of the agreement violate so Mr. Nafees is right to claim to cancel the contract.

 

 i do this and just take guidence i already post it 

yeah u said rite

mr.amir 

read the case carefully it is not mention that cow is nw suffering from disease rather that it said in the case that"cow had been suffering from a specific disease". which means that cow phly se disease me mubtla reh chuki hai not ye k abi disease hui hai usko.

saida 

You are right. 

Fellows sadia is right. Le me del my posts to avoid any confusion for fellows

My conclusion was on wrong side because I skipped the words. 

Thanks Sadia

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