Aman drew the bill of exchange (the bill) on Baban, who accepted it, payable to Magan or order. Magan indorsed the bill to Gagan. Gagan indorsed the bill to Akash to be delivered to him on the next day. However, on the death of Gagan on the same day, his only son Ankit delivered the bill to Akash on the next day as intended by his deceased father. On presenting the bill on the due date, Baban refused to pay. Explaining the importance of delivery in negotiation, decide, whether Akash can enforce the payment of the bill against Baban or the previous parties.

Reliable Limited, an Indian company, is a global leader in Petrochemical products. For payment of the sale price of machinery imported from Alex Manufacturing Limited, a USA based company (the exporter), the Indian company drew a bill of exchange on Manish, a resident of Mumbai (India) who accepted the bill at Mumbai payable to the exporter in Los Angeles, USA. Decide, whether the bill of exchange is an inland instrument or a foreign instrument. Assume that the bill of exchange was signed by the authorised person for the drawer company.

Answer the following as per the provisions of the Indian Contract Act, 1872: (i) 'Agent cannot personally enforce, nor be personally bound by, contracts on behalf of the principal' however there are some exceptions to this general rule, explain. (4 Marks) (ii) State the rights of Indemnity-holder when sued. (2 Marks) OR (i) Explain any four differences between Contract of Indemnity and Contract of Guarantee. (4 Marks) (ii) Whether the threat to commit suicide is coercion? (2 Marks)

Explain the legal rules of auction sale relating to the following points as per provisions of the Sale of Goods Act, 1930: (A) Bid by seller with or without notification (B) Bidder to retract from his bid (C) Effect of pretending bidding

Explain the provisions relating to the delivery of the wrong quantity of goods as per the provisions of the Sale of Goods Act, 1930.