Legal Environment in Business

Daffodil International University Department of Information Technology and Management Faculty of Science & Information Technology Final Examination, Fall 25 Course Code: GE- 215 Course Title: Legal Environment in Business Level: 2 Term: 2 Instructor/Teachers: NI Marks: 40 Time: 2 hr Instructions) You may answer the question (1,2 or 3) randomly, but the sections (a, b and c) should be answered sequentially. Be respectful to the Exam ethics. Use own Stationary. 1 Legal concepts. [Marks -10] a) Define VAT, Income Tax, Rebate, Free Consent and Artificial entity 5 CLO 3 L 4 b) Explain the coercion concept with examples 5 2 Laws according to jurisdiction and the Corporate legal system. [Marks -20] a) Describe Duties of partners in a PartnerShip 5 CLO 2 L 5 b) Distinguish Between Partnership and Co-ownership 5 c) Point out the essential features of a Company 5 d) Point out how to reconstitute the firm for Incoming and outgoing Partners 2.5 e) Explain Metule agency in partnership 2.5 3 Analyze and Case: if the case goes to court what will be the judgment and laws affecting the judgment ( mention the elements or legal rules ) [Marks -10] Demo case: Keanu reeves searched and found the Missing Dog of Halle Berry without knowing that there are a reward for finding the dog. Now Halle is refusing to pay. Answer / Judgment Who wins the case: In the case of Keanu reeves VS Halle Berry the Court will be in favor of Keanu reeves / Halle Berry. Status: The contract/ offer will be held valid/ invalid/ revoked / enforceable / void / illegal Reason: As Keanu reeves did not accepted the offer so the there was no agreement / contract between parties. a) Mr zaman went to a Ship company JAHAZ. He wanted to send a cargo of 11,100 ton of Cloths. The Ship company executive said the ship can easily take these in 100 containers. During cargo loading the clots seem to take more containers then 100. Your are the The port magistrate came to solve the issue. Solve the Case: Who will win the case? Identify the status of the contract. Reasons for the judgment. 5 b) Mr Richhi has a total of 15,00,000 taka in income in the last year. He invested 1,00,000 Taka to collect a rebate (lower of 15% of your Actual Investment or 1,000,000 (10 Lakhs) or 3% of your Total Taxable Income).The government now grants 1/3 tax exemption on total income. He paid 1,00,000 Taka tax to the government. His tax file is in review. Solve the Case: Apply your tax knowledge and solve the tax amount. Prove a judgment if he paid more or less tax. 5 CLO 1 L 5