Q.1 Distinguish Between Fraud and Misrepresentation. Ans
Q.1 Distinguish Between Fraud and Misrepresentation. Ans
Q.1 Distinguish Between Fraud and Misrepresentation. Ans
Ans: -
When the representing party knows that his or her plea is baseless
and untrue, then this individual is committing fraud. However, there
are many individuals who are convinced wrongly of a situation by a
third party. In such a case, it is one of misrepresentation because
the defendant actually believes the basis of his or her plea.
lumpsum remuneration.
rare antique
(iii) Where plaintiff’s property is held by the defendant in
the capacity of his agent or trustee
(iv) Where the act to be done is in
performance of trust
Cases where specific performance will not be ordered:
(i) Where monetary compensation is
adequate relief
(ii) Where contract is made by the agent or trustee in
violation of his powers
(iii) Where the contract is of a personal nature, such as a
contract to marry or a contract of service
(iv) Where the court cannot supervise the performance of
promise as it involves performance of a continuous
duty
(v) Where the contract is in its nature revocable
(vi) Where the contract is made by a company in excess of
its powers as laid
down in its Memorandum of Association
What is what?
A guarantee is For a promise to someone that a
third party will meet its
obligations to them “if they don’t
pay you, I will”
Example of Guarantee “if they don’t pay you, I will”
An indemnity Is a promise to be responsible
for another’s loss, and to
compensate them for that loss
on an agreed basis
Example of Indemnity “if it costs you more than £250
to fix that, I will reimburse you
the difference”.
And an example...
Some of the differences were highlighted by the Court of Appeal
in the 2007 case Pitts and Ors v Jones. The appellants bringing
the claim were minority shareholders in a company of which the
other party was managing director and majority shareholder.
The majority shareholder had negotiated the sale of the company to
a purchaser who had agreed to buy the shares of the minority at
the same price. The appellants were summoned to the sale
completion meeting and were told that as part of the terms agreed
their shares would be purchased after a delay of six months. On
being made aware of the risk of the purchaser becoming insolvent
within this period they declined to sign the documents but relented
when the majority shareholder undertook verbally to pay if the
purchaser failed to do so. The purchaser did subsequently
become insolvent and could not pay for the minority shareholders’
shares, so they sued the majority shareholder on his undertaking to
pay them. The Court of Appeal found that, while all the other
necessary elements of a legally binding contract were present
(offer, acceptance, consideration and the intention to create legal
relations), the undertaking given to the minority shareholders was
unenforceable since it was a guarantee and was not in writing.
The minority shareholders lost the value of their shares and were
left with no recourse.
• The words used; the fact that one label or another is used is
not determinative but it may demonstrate what the parties
were attempting to achieve;
• Whether the document purports to make the surety liable for
a greater sum than could be demanded under the principal
contract, in which case the inference is that he is undertaking
an obligation to indemnify;
• Whether a demand upon the principal debtor is defined as a
condition precedent to proceeding against the surety – in
which case the document may well best be read as a
guarantee;
• An indemnity comprises only two parties- the indemnifier and
the indemnity holder. A guarantee is a contract between three
parties namely the surety, principal debtor and the creditor.
Summary
Case law iterates the need to seek proper legal advice and at bare
minimum, use a written agreement clearly stating the parties’
intentions.
Indemnity Guarantee
Comprise only two parties- the There are three parties namely
indemnifier and the indemnity the surety, principal debtor and
holder. the creditor
Liability of the indemnifier is The liability of the surety is
primary secondary. The surety is liable
only if the principal debtor
makes a default. The primary
liability being that of the
principal debtor.
The indemnifier need not The surety give guarantee only
necessarily act at the request of at the request of the principal
the indemnified. debtor.
The possibility of any loss There is an existing debt or duty,
happening is the only the performance of which is
contingency against which the guarantee by the surety.
indemnifier undertakes to
indemnify.
Ans:-
A company limited by guarantee is a lesser known type of
business entity which is generally formed by non-profit purposes
and has members instead of shareholders.
There are both some similarities and differences between the two
groups.
Ans:-
INTRODUCTION:
The term ‘cyber crime’ is a misnomer. This term has nowhere been
defined in any statute /Act passed or enacted by the Indian
Parliament. The concept of cyber crime is not radically different
from the concept of conventional crime. Both include conduct
whether act or omission, which cause breach of rules of law and
counterbalanced by the sanction of the state.
CONVENTIONAL CRIME-
CYBER CRIME
Hart in his work “ The Concept of Law” has said ‘human beings are
vulnerable so rule of law is required to protect them’. Applying this
to the cyberspace we may say that computers are vulnerable so
rule of law is required to protect and safeguard them against cyber
crime. The reasons for the vulnerability of computers may be said
to be:
2. Easy to access-
3.Complex-
The computers work on operating systems and these operating
systems in turn are composed of millions of codes. Human mind
is fallible and it is not possible that there might not be a lapse at
any stage. The cyber criminals take advantage of these lacunas
and penetrate into the computer system.
4.Negligence-
5. Loss of evidence-
CYBER CRIMINALS:
2. Organised hackers-
4. Discontented employees-
This group include those people who have been either sacked
by their employer or are dissatisfied with their employer. To
avenge they normally hack the system of their employee.
3. Email bombing-
4. Data diddling-
5. Salami attacks-
8. Logic bombs-
These are event dependent programs. This implies that these
programs are created to do something only when a certain
event (known as a trigger event) occurs. E.g. even some
viruses may be termed logic bombs because they lie dormant
all through the year and become active only on a particular
date (like the Chernobyl virus).
9. Trojan attacks-
This term has its origin in the word ‘Trojan horse’. In software
field this means an unauthorized programme, which passively
gains control over another’s system by representing itself as an
authorised programme. The most common form of installing a
Trojan is through e-mail. E.g. a Trojan was installed in the
computer of a lady film director in the U.S. while chatting. The
cyber criminal through the web cam installed in the computer
obtained her nude photographs. He further harassed this lady.
CLASSIFICATION:
1. Against Individuals
2. Against Organization
a. Government
c. Firm, Company, Group of Individuals.
Against Individuals: –
i. Computer vandalism.
ii. Transmitting virus.
iii. Netrespass
iv. Unauthorized control/access over computer system.
v. Intellectual Property crimes
vi. Internet time thefts
Against Organization: -
2. Cyber-stalking-
4. Defamation
5. E mail spoofing-
6. Computer vandalism-
7. Transmitting virus/worms-
and a cyber terrorist is the person who uses the computer system
as a means or ends to achieve the above objectives. Every act done
in pursuance thereof is an act of cyber terrorism.
10.Trafficking