Law & Taxation And Medical Equipment Store - Law Assignment Help

Assignment Task

Qno. 1  Mr Kashif maintains a specialized medical equipment store. He is running the store for the past 25 years. A mature business needed more people to help kashif handle the shop. One night at the family meeting Sohrab, son of kashif asked his dad for the help and in return any unsold product at the year-end will be the property of Sohrab. Kashif promised when he will retire, He will give all the unsold items to sohrab in return for his services. Sohrab who was 15 years old agreed the proposition. Later Kashif donated entire item to a NGO for free
 

What can be the possible law and its application from kashif and Sohrab stand point?

Present your argument from essentials of contract point of view

Qno 2.  An Ajmal Hussain Corporation works as goods manufacturing company for Iqra Corporation. During the course of business Iqra Corporation become indebted for Rs. 4 Million. To recover the amount, Ajmal Corporation set a lien on the goods manufactured.  A contractual agreement was made in which Alina corporation guaranteed the payment of Rs. 250,000 per Month as an installment of debt in return to release the goods manufactured.
 

Alina corporation guaranteed that incase of nonperformance of contractual agreement by the Iqra corporation, obligation will be due on the guarantor but not more than the amount due at the time of contract.
 

The Iqra Corporation could not abide the terms of the contracts and the contract was terminated. Iqra Corporation filed liquidation.
 

Alina corporation refused to pay the amount due appealing the view that contract was terminated before nonperformance and therefore they are not liable for damages

Required: Suggest the possible application according to the law of indemnity.

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