CA Inter Notes | CA Inter MCQs |

#CASE STUDY 15 🔸CHARTERED GURU🔸 🔸Case study Series🔸 👉Mr. Akshay appointed Mr. Summeet as his agent for collecting amount from its trade debtors 👉Mr. Summet was performing his duties since last 4-5 years and was getting 1% of the amount collected as commission 👉On 1st July 2020, Mr. Summet appointed (without the knowledge and authority of Akshay) another person Mr. Praveen as his agent to collect amounts due on behalf of him (which he has been collecting on Akshay’s behalf) 👉All the parties who were paying amounts to Summet have now started paying to Praveen 👉For last 15 days Praveen collected amounts from Akshay’s customer and ran away with the money so collected 👉Akshay wrote an email to all its customers and asked them to pay the amount again which they have paid to Praveen as that amount was not collected with his authority 👉Answer following MCQ’s from above case

#CASE STUDY 16 🔸CHARTERED GURU🔸 🔸Case study Series🔸 👉Mr. Akshay a dealer of second hand goods consigned second hand furniture to his agent in Nashik for sale through an auction 👉The auction was to be conducted on 15th June 2020, for this the agent in Nashik was asked by Mr. Akshay to appoint an auctioneer 👉The agent appointed Mr. Kailash as auctioneer, who is one of the well known auctioneer in that area 👉The auctioneer sold the furniture and took cheque’s in his own name and committed cheating with Mr. Akshay 👉Can Mr. Akshay held his agent liable for the loss

#CASE STUDY 14 🔸CHARTERED GURU🔸 🔸Case study Series🔸 👉Mr. Keshav Delivered goods for transportation to Mr. Jayesh to be delivered in Pune to Keshav’s customer 👉Mr. Jayesh mixed up Keshav’s goods with his own stock 👉When the goods were delivered to Mr. Keshav’s customer in Pune, the customer refused to accept the same because of the difference in quality of goods ordered by him and goods delivered to him 👉Mr. Keshav wants to recover the loss from Mr. Jayesh for mixing up the goods bailed with his own goods

#CASE STUDY 13 🔸CHARTERED GURU🔸 🔸Case study Series🔸 👉Jay, Vijay and Sanjay have jointly guaranteed repayment of a loan of Rs.1 Crore taken by Mr. Ajay from ICICI bank 👉On 1st April 2020, Ajay becomes insolvent and on that day amount outstanding on account of ICICI Bank loam was Rs. 45,00,000 👉On that day, Mr. Jay had died leaving behind nothing to his legal heirs, and Vijay has been in Jail in a murder case and he is also having no estate of his own 👉the bank wants to recover entire outstanding loan amount from Sanjay 👉state liability of Sanjay in this case

#CASE STUDY 12 🔸CHARTERED GURU🔸 🔸Case study Series🔸 👉 Mr. P draws a bill on Mr. Q for Rs.50,000 👉 Before presenting the bill for acceptance to Mr. Q, Mr. P has endorses the bill to Mr. R for consideration 👉Mr. R was supposed to present it for acceptance to Mr. Q 👉Mr. R presented the bill for acceptance to Mr. Q but Mr. Q did not accept the bill 👉check validity of the bill in such circumstances

#CASE STUDY 11 🔸CHARTERED GURU🔸 🔸Case study Series🔸 👉 Mr. X drew a bill on Mr. Y without any consideration (Y duly accepted the bill) 👉Mr. X then endorsed the bill in favour of Mr. Z to whom he owes an amount 👉Mr. Z got the bill discounted with its bank 👉On maturity Mr. Y refused to honour the bill and asked the bank to file suit on Mr. X only as the bill was without any consideration 👉on whom the bank can file suit for recovery of the amount (assume all legal formalities like noting for dishonour etc have been done)