Business Law

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Business Law

1. Rakesh had approached Lena Bank for a Home Loan, one of the conditions of availing Home Loan was to obtain a Surety. Rakesh had for this purpose convinced Mohan to act as a Surety for Rakesh. Mohan agreed to act as a Surety for Rakesh. Can you explain what type of contract that Mohan will have to execute with the Bank. Give the features of such type of contract? In event of default by Rakesh, what steps can the bank take against Mohan? (10 Marks)
2. Please elucidate elaborately 2 practical instances where Right to Information Act, 2005 has increased transparency, accountability and better performance in the working and administration of the public authorities. (10 Marks)
3. Arvind had purchased a 3-BHK flat in Mumbai from Goldfin Builders in 2015. He had entered into a registered Agreement with the Builder towards the purchase. Arvind was promised possession of the Flat on or before 30th September 2016. The cost of the Flat was Rs. 4 crores, which Arvind had entirely paid for. However, the Builder had not handed him over the possession till date. Mr. Arvind has the Following queries:
a) Which Forum he should approach for filing a claim against the Builder? What reliefs should Arvind claim against the Builder? (5 Marks)
b) Can you help Arvind in identifying with at least 2 legal precedent (cases) supporting his claim against the Builder? (5 Marks)

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