Model Answers for Assignment

[Pritam Ghosh]

Dear Students, 

You may have had doubts about the answers to be written in the questions

for assignment. I am hereby sending a list of points that needed to be included

in the answers for the two questions. You can consider this list as your reference point and

as model answers:

Question 1:

(a) Explanation of relevant provisions relating to Agency in Contracts including relevant case laws.

(b) Explanation of the concept of vicarious liability in Torts with relevant case laws.

(c) Application of agency in partnership in case of transactions among partners and third parties- Duties of Partners 

as agents of the firm and agents of one another. 

(d) Application of the concept of vicarious liability in the above types of transactions- Partners binding

each other for transactions

Question 2:

(a) Basic Concepts and Description of Partnership and Limited Liability Partnership businesses

(b) Explanation of loss sharing liability as per the partnership act with relevant provisions and case laws.

(c) Explanation of loss sharing liability under the LLP Act with relevant provisions and case laws.

(d) Comparison between liability for losses under Partnership Act and LLP Act.