Akash Case Study - Developed a Robot to do Household Chores - Accounting Assignment Help

Assignment Task :

PART A:  

1. Akash borrows Rs 50,000 from Barnes. Shikha stands as the surety for the  repayment of loan by Akash to Barnes. Thereafter, Akash and Barnes agreed  mutually that Akash may repay Rs 30,000 instead of Rs 50,000. Is Shikha  discharged from her liability as a surety? 

2. Sanjay is an engineer who has developed a robot to do household chores. Sanjay  is looking to test his robots before he can launch the robots in market. While a lot  of people are showing interest in the robot Sanjay is skeptical of loosing his  intellectual property rights. Sanjay’s lawyer suggests he can use a Confidentiality  and Non-Disclosure Agreement, which will put an obligation on the signor of the agreement to maintain secrecy and also make such person(s) liable to indemnify  incase of loss, breach or non-return of the goods/products. Sanjay entered into a  contract with the company testers.com, to help him test run the robots while  maintaining the secrecy. Sanjay and the company entered into a Confidentiality  and Non-Disclosure Agreement where it was agreed that the company will help  Sanjay find prospective houses to test run the robot. The company also agreed to  indemnify Sanjay for any loss which Sanjay might incur during the term of the  agreement. Sanjay and Company shortlisted 10 such households and the company  entered into a Confidentiality and Non-Disclosure Agreement with each of these  users along-with indemnification agreement. The company promised to  indemnify the users against any and all losses which users might incur in-respect  of the subject matter of the contract. Secrecy is the essence of both contracts and  the same was breached when one of the users, Seema, decided to take the robot  out for shopping and lend it out for rent. Seema met a guy, Ram at the grocery  store. Ram was a scientist, he without revealing his true identity to Seema  convinced her to lend him the robot for Rs. 2000 per day. Seema tempted by the  offer lend the robot to Ram, for a week. After a week when the robot was returned to Seema it was quite evident that the robot had been opened and re-assembled.  There seemed to be some glitches in its functioning ever since it returned from  Ram’s place. Thankfully, Sanjay had used a specialised mechanism which blocked other users from accessing the robot. Ram could disassemble the robot  but couldn’t access anything and no information was hacked or lost. Seema filed  a complaint to the company for robot not working and when Sanjay visited to  check the robot he realised that someone tried to access the robot. After a series  of questions and cold interrogation Seema confessed what she had done. Sanjay  is very upset and wishes to sue her for damages and breach. Seema still feels that  the robot is defective and decides to contest the case despite the company’s clear  instructions to her to settle the case. Sanjay sues Seema for damages worth Rs. 1  crore. The Court decrees the suit in favour of Sanjay and orders Seema to pay Rs.  1 crore as damages along with Rs. 1 lakh as costs. Decide upon the liability of  testers.com.  

3. Rajat handed over pack of jewelry to Kasturi jewelers for the purpose of being  melted and utilized for making new jewels under his supervision. Every evening  Rajat used to leave the box in the jeweler’s house without handing over the keys.  One-night jewel was stolen. Discuss whether Kasturi jeweler is liable for the loss? 

4. Carl borrowed money from AGAGI Bank against some securities furnished by  Carl. Carl defaulted in the payment and AGAGI Bank sent him a reminder for the  payment due. Carl asked for more time; however, instead the bank decided to sell off the securities furnished by Carl. Carl decides to take legal action against the  bank. Advise Carl. 

5. KayC has her heart set on the new “Toyota Breeze” car which was launched by  Toyota earlier this month. On her way back from a friends place KayC notices  CrazyCarz, a Toyota dealership which was running some offer on the Toyota  Breeze test drive. KayC immediately pulls over and parks her blue Nissan Altima  at CrazyCarz parking lot and requests to test drive the new Toyota Breeze. While  test driving the new Toyota Breeze KayC tries to take a selfie and ends up hitting  the pole and breaking one of the headlights. The CrazyCarz car salesman is clearly  very upset with KayC and immediately takes control of the car and drives back to  the dealership. On returning KayC notices that her car (the blue Nissan Altima)  which was securely parked at the CrazyCarz parking lot has been rear-ended.  Both parties claim loss against each other arguing a bailor-bailee relationship. Do  you think there is any merit in this argument? Comment on the merits of  CrazyCarz claim against KayC regarding loss to Toyota Breeze and KayC’s claim  against CrazyCarz in relation to her Nissan Altima.  

6. Arbaaz Khan is a con artist. He hired another con artist Sana Galib and both  decided to con Kalyan Jewellers. Both Arbaaz and Sana portrayed themselves as  Amitabh Bachchan and Shweta Nanda and went to the Connaught Place KalyanJeweller store, biggest store in Delhi. The CP Kalyan Jewellers store manager  K.K. mistaking the con artists for real life Amitabh Bachchan and Shweta Nanda  sold them jewellery worth 5 crores. The store accepted payment by cheque. A day  later K.K. happened to meet Mr. Bachchan in a store inauguration and thanked  him for visiting the store the other day. Mr Bachchan denied ever visiting the  store with his daughter and his manager confirmed that Mr Bachchan was in  Dubai the whole week for a wedding. K.K. was shocked. He quickly called the  store and asked his assistant to bank the cheque given by Mr. Bachchan and his  daughter. As expected, the cheque bounced on presentment. K.K. tried to rescind  the contract on basis of fraud and misrepresentation, but the duo had already  pledged the jewellery to a local pawn shop, who had no knowledge of bad title in  the jewellery. The owner of the pawn shop gets to know about the bad title but he  argues that the pledge is valid even though the pawnor’s title was defective.  Advise on the rights of the pawn shop owner and the manager KK in light of the  facts provided and Indian Contract Act provisions relating to pledge. 

7. Mr. Ramesh hired locker no.15 on 10th January 2000 in RCB bank and had  deposited jewelry in the value of Rs 14,26,000/-. The locker of Mr. Ramesh along  with others was broken by miscreants and the content thereof, was stolen. In the  light of abovementioned facts decide the liability of the bank by providing reasoning, statutory provisions and judicial pronouncements. Whether mere  hiring of a locker in a bank is sufficient to constitute the contract of bailment? 

8. How general is lien as defined in Section 171 of the Indian Contract Act, 1872,  in comparison to ‘particular lien’ in Section 170 of the Indian Contract Act, 1872.  Illustrate

This Accounting Assignment has been solved by our Accounting  Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.