Discuss the rights of an unpaid seller against the buyer under the Sales of Goods Act,...
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Discuss the rights of an unpaid seller against the buyer under the Sales of Goods Act, 1930. (b) Mr. M is one of the four partners in M/s XY Enterprises. He owes a sum of 6 crore to his friend Mr. Z which he is unable to pay on due time. So, he wants to sell his share in the firm to Mr. Z for settling the amount. In the light of the provisions of the Indian Partnership Act, 1932, discuss each of the following: (1) Can Mr. M validly transfer his interest in the firm by way of sale? (ii) What would be the rights of the transferee (Mr. Z) in case Mr. M wants to retire from the firm after a period of 6 months from the date of transfer? Discuss the rights of an unpaid seller against the buyer under the Sales of Goods Act, 1930. (b) Mr. M is one of the four partners in M/s XY Enterprises. He owes a sum of 6 crore to his friend Mr. Z which he is unable to pay on due time. So, he wants to sell his share in the firm to Mr. Z for settling the amount. In the light of the provisions of the Indian Partnership Act, 1932, discuss each of the following: (1) Can Mr. M validly transfer his interest in the firm by way of sale? (ii) What would be the rights of the transferee (Mr. Z) in case Mr. M wants to retire from the firm after a period of 6 months from the date of transfer?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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