Mr. A Case Study - Quantities Consumed - Business Assignment Help

Assignment Task :

Mr. ‘A’ deals in the trade of electronic goods. On 1-1-2019 he pledges his goods (stocks-in-trade) to Mr.
‘B’ for a period of 15 months as security for a debt of an amount of Forty Hundred thousand Rupees.
According to the agreement, the goods shall be kept by Mr. ‘A’. Mr. ‘A’ agrees to maintain a register in which to record all the particular of the goods and the quantities consumed therefrom from time to time. The agreement further provided that Mr. ‘A’ shall keep Mr. ‘B’ harmless and indemnified against any loss, damage or deterioration that may be caused to the pledged goods due to any reason whatsoever.
On 1-1-2020, a container of goods containing goods worth seventy hundred thousand Rupees went missing on its way to Lahore from Karachi.
On 31-3-2020, the debt becomes due. Mr. ‘A’ refuses to pay the debt to Mr. ‘B’. Mr. ‘B’ shows his intention to file a suit for the recovery of goods as the security of his debt. In reply to that Mr. ‘A’ claims that since the goods went missing while under the control of Mr. ‘B’ as pledgee therefore the responsibility falls on Mr. ‘B’ and Mr. ‘A’ is not liable either for the debt or the security.

• In the light of the above claim, write your legal opinion for Mr. ‘A’ while identifying the nature of: his possession,
• his legal relationship/s with Mr. ‘B’ and the validity thereof
• his obligations towards Mr. ‘B’ and with respect to the goods.

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