The fundamental attribute of corporate personality is that company is a legal entity distinct from the members. “Elucidate the statement . Also specify the important features off company. 2 . Discuss the essential elements of a valid contract. 4. What are the characteristics of negotiable Instrument? Discuss the ‘privileges’ of holder in due course as per the provisions of the Negotiable Instruments Act, 1881? Also state the important amendment to be incorporated under sec 138 of the act. 5.
Elaborately explain the essential features of the consumer protection act 1986. Also briefly discuss unfair trade practice and restrictive trade practice as discussed under consumer protection Act? Read the case study given below and answer the questions given at the end Vs. Case Study Ditty Mass Communication Private Limited A. P. State Road Transport Corporation A. P. State Road Transport Corporation, Hydrated advertised tender notice on calling for tenders for display of advertisements on the buses owned by it.
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According to the condition of the Tender Notice, each tender form had to be accompanied by a emend draft for RSI 20 lakes and tender forms completed in all respects had to be put in the tender box. The accompanying sum of money was the Earnest Money Deposit (E. M. D). Clause (10) of the terms provided that the tender will be opened at 3:00 p. M. On October 31, 1996, in presence of the tenders or their authorized agents. Clause (14) provided that tenders will not be permitted to withdraw their tender after the tenders were opened .
Clause (15) provided that if the highest tendered backs out from taking up the agency , for whatsoever reason, the E. M. D. Paid by him will be forfeited. Ditty mass Communication Private Limited submitted its duly filled tender along with demand draft of RSI. 20 lakes. In relation to this tender, another person approached the High Court and got an order restraining the Transport Corporation from proceeding further with the tender. Following the order, the A. P. State Road Transport Corporation opened the tender box at 3 p. M. And found six sealed covers.
In view of the directions of the High Court, the covers were again laced back in the tender box without opening the seals. The signature of the tenders and their agents was taken to this effect . The tenders were not opened to find out the highest bidder. Ditty Mass Communication Private Limited wrote a letter on November 1 1, 1996 stating that no reasons were given to him for non- opening of the tenders and that he could not keep the huge amount of RSI 20 lakes locked in with all the uncertainty associated with the tender. It, thus, requested for return of the Earnest Money Deposit.
A. P. State Road Transport Corporation replied on November 14, 1996 that the Ditty Mass communication had signed on the note business law By hardliners Thus, it could not put up the argument that no reasons for non-opening of the tender was given on it. The letter notified that the tenders would be opened on November 16, 1996 at 1 1 hrs. Ditty Mass Communication once again wrote a letter on November 15, 1996 that the question of their participation in the opening of tenders did not arise as they asked for the return of E. M. D. The A. P. State Road Transport
Corporation went ahead with the opening of the tender, found Ditty Mass Communication to be the highest bidder and awarded the tender to it. Ditty Mass Communication was informed of this but it demanded refund of Earnest Money Deposit. The A. P. State Road Transport Corporation following the terms of tender forfeited the earnest money deposit of Ditty Mass Communication. . Elaborately state the important legal issue’s covered under this case. What are the essential features of a tender? 2. Give your reasons in support of your decision for the issue discussed in this case. 3.