(a) A, B and C jointly promised to pay D a sum of ₹6,000. Examine, considering the provisions of the Indian Contract Act, 1872 - (i) Can D compel any of three parties A, B and C to pay him ₹6,000? (ii) C is compelled to pay the whole of the amount to D. Can he recover anything from A and B, when (1) Both A and B were solvents. (2) A is not in a position to pay anything.

(b) What are the rules governing the compensation payable in the event of dishonour of a negotiable instrument under the provisions of the Negotiable Instruments Act, 1881?

(c) Ashok and Vimal are pursuing chartered accountancy course and discussing about the structure of the Indian judicial system. Explain them the functions of judiciary system of India and the hierarchy of courts and briefly explain their functioning under the Indian Regulatory Framework.