BL Writeup 62

Embed Size (px)

Citation preview

  • 8/3/2019 BL Writeup 62

    1/4

    BUSINESS LAW

    ASSIGNMENT 1

    WRITE-UP

    ON

    RECONSTITUTION OF FIRM

    BY

    NARESH KUMAR B G

    215111062

  • 8/3/2019 BL Writeup 62

    2/4

    Learning from the topic:

    The Reconstitution of the firm deals the various ways by which a firm can be

    reconstituted. There are six changes that are said to be the reasons for reconstitution of the

    firm. They are

    Introduction of a partner [Sec. 31] Retirement of a partner [Sec. 32] Expulsion of a partner [Sec. 33] Insolvency of a partner [Sec. 34] Death of a partner [Sec. 35] Transfer of a partners share [Sec. 29]The Introduction of the partner briefs us about the induction of a new partner into the firm

    based upon the various contracts made between the already existing partners. For example, B

    can introduce his son as a partner when his son is major if he had already mentioned in hiscontract about the partnership issue.

    The retirement of a existing partner will lead to the reconstitution of the firm. One might

    retire from the firm with consent from other partners, through express agreement or by giving

    notice in writing about his intention to retire. A person is liable to the activities done before

    his retirement whereas he is not liable to the activities of the firm after his retirement.

    The expulsion of a partner tells us about the various ways and circumstances by which a

    partner can be expelled. The rights of other partners to expel a partner are mentioned.

    Similarly the rights of the expelled partner to appeal against his expulsion are given underthis section.

    The insolvency of a partner deals with the adjudication of the partner as insolvent in a

    firm. This happens either when the firm itself is dissolved. The various methods and criteria

    followed during the dissolution of the firm.

    The death of the partner tells us the various issues that are dealt with when a partner dies

    and the shares and the liability he holds. For example, the partner is said to be liable for the

    activities carried out when he was alive and he is not liable for the activities after his death.

    The transfer of partners share deals with the way the share held by the partner is

    transferred when the particular partner requests for the transfer. The various dos and donts

    to be followed during the transfer of shares have been briefed.

  • 8/3/2019 BL Writeup 62

    3/4

    Self Evaluation:

    I have done my own self evaluation of the presentation done by me.

    SWOT Analysis:

    1. Strengths:- Understood the sections and its uses- Had a good subject knowledge- Maintained an good eye contact- Quoted examples for all the sections I discussed- Had a good thought flow

    2. Weakness:- Less content in the PowerPoint presentation- Stammered during my presentation- Lacked fluency of language- Usage of fillers

    3. Opportunities:- The mistakes done during the presentation were identified for

    correction

    - Learned how to make an effective presentation through all otherspresentation too

    - Learned many new topics outside the book while preparing for thepresentation

    - Improve my way of presentation4. Threats:

    - Fall in my grades due to my bad presentation

  • 8/3/2019 BL Writeup 62

    4/4

    Feedback :

    I was not satisfied with the way I presented the topic. The first mistake

    done by me was that there was no content in the PowerPoint presentation

    describing the criteria in each section. I had only put the topic of each section in

    each slide having a perception that it might be looking good to have the topic

    alone in the slide instead of having the entire content of the section. But it went

    as a negative in my presentation.

    The other part of my presentation was that I had examples to be quoted

    for all the sections and had a good knowledge about the subject I dealt with for

    my presentations. The areas I have to work on are my fluency and the way ofpresenting the topic. I also need to work on connecting to the audience during

    my presentations.