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Business Law-1-2015

Business Law-1-2015

Q1: What is Breach of Contract? Describe the manner in which of breach of contracts occurs and the remedies available for addressing such breaches?

 

Q2: A obtains 5 different loans from B in the following manner

Month

Amount

Interest

November 2014

20,000

20%

December 2014

40,000

5%

February 2015

10,000

10%

March 2015

10,000

15%

Total

8000

 

 

A decides to make repay only a sum Rs. 50,000/- in April, 2015. Please explain taking the above example as how the debts shall be appropriated as per Clayton’s Rule of Appropriation of Payment under the Contract Act.

 

Q3: Right to Information is one of finest gems institutionalizing and cherishing Democracy in India. Please explain the statement highlighting the features of Right to Information Act and give at least 2 examples of how Right to Information has brought transparency and accountability?

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