Mb0051 Legal Aspects Of Business Solved Assignment Ignou


Sikkim Manipal University - MBA - MB0051 – Legal Aspects of BusinessSemester: 3 - Assignment Set: 1



When a contract has been breached, the party who suffers by such breach is entitled toreceive, from the party who has breached the contract, compensation for any loss or damagecaused to him thereby, being loss or damages which naturally arose in the usual course of things from such breach or which the parties knew, when they made the contract, to be likelyto result from the breach of it. Such compensation is not to be given for any remote andindirect loss of damage sustained by reason of the breach.A person who rightfully rescinds a contract is entitled to compensation for any damage, whichhe has sustained through non-fulfillment of the contract.

Liquidated damages and penal stipulations:

If a sum is named in the contract as the amount to be paid in case of breach of contract, or if the contract contains any other stipulation by way of penalty, the party complaining of thebreach is entitled, whether or not actual damage of loss is proved to have been causedthereby, to receive, from the party who has broken the contract, reasonable compensation, notexceeding the amount so named or the penalty stipulated for.A stipulation for increased interest from the date of default may be regarded as a stipulation by “way of penalty”. The court is empowered to reduce it to an amount which is reasonable in thecircumstances.

Specific performance:

In certain special cases (dealt with in the Specific Relief Act, 1963), the court may directagainst the party in default “specific performance” of the contract, that is to say, the party maybe directed to perform the very obligation which he has undertaken, by the contract. Thisremedy is discretionary and granted in exceptional cases. Specific performance means actualexecution of the contract as agreed between the parties. Specific Performance of any contractmay, in the discretion of the court be enforced in the following situations

When there exists no standard for ascertaining the actual damage caused by the non-performance of the act agreed to be done; or

When the act agreed to be done is such that monetary compensation for its non-performance would not afford adequate relief.

Instances where compensation would be deemed adequate relief are:

Agreement as a consequence of a breach by a landlord for repair of the rentedpremises;

Contract for the sale of any goods, for instance machinery or goods.


A contract which runs into such minute or numerous details or which is so dependent on thepersonal qualifications or volition of the parties, or otherwise from its nature is such, that thecourt cannot enforce specific performance of its material terms, cannot be specifically enforced.

Bhupinder Singh Reg. No. 521063004 Page 3 of 9

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Q1. Define Human Resource Planning (HRP).Discuss the objectives of Human Resource Planning.

(Meaning of Human Resource Planning., Explain the four main objectives of Human Resource Planning) 2, 8


Meaning of Human Resource Planning

Human resource planning is the term used to describe how companies ensure that their staff comprises the “right person for doing the job”. It includes planning for staff retention, planning for candidate search, training and skills analysis and much more. It is the process of acquiring and utilising human resource in an organization. The main objective is to ensure that an

Q2. Suppose you have joined as an HR and you are asked to carry out the HR Audit process in your organization. What are the methods you will consider while implementing the HR Audit process?

(Explain the methods involved in the HR Audit process) 10


Methods involved in the HR Audit process

Methods used in the HR Audit process are: Interviews

In order to ascertain what the top management thinks about the future plans and opportunities available for the company, the auditors

Q.3.What are the areas of HR Audit? Explain any four of them (Listing the areas of HR Audit., Explaining any four of them.) 1,9


Areas of HR Audit

Various areas in which HR audit is performed are as follows:

·       Audit of HR planning

·       Audit of HR development

·       Audit of training

·       Audit of industrial relations

·       Audit of managerial compliance

·       Audit of HR climate

·       Audit of corporate strategies.

Audit of HR Planning: HR planning refers to the ongoing process of systematic planning to achieveoptimum use of an organisation's most valuable asset - its humanresources. The objective of HR planning is to ensure the best fit betweenemployees and jobs, while avoiding manpower shortages or surpluses. Thethree key elements of the HR planning process are

Q.4.What do you mean by HR Scorecard? Explain the steps undertaken to approach a Human Resource Scorecard. (Definition of HR Scorecard, Explaining the steps in HR Scorecard Approach) 2,8


HR Scorecard

The various steps involved in conducting human resource (HR) audit including how to plan questions, collecting and analysing data and assessing the ability for change. HR scorecard which is an important tool for conducting a successful HR audit. It is used for measuring the contribution of human resource management practices for achieving organisational objectives. The

·       . The process is not a one-time event. HR professionals must regularly review the measures and their impacts.

Q.5. Write a brief note on the effectiveness of Human Resource Development Audit as an intervention. (Explaining the Effectiveness of Human Resource Development Audit as an intervention) 10


Effectiveness of Human Resource Development Audit as an Intervention

In any firm, along with the optimal utilisation of other resources, humanresources should also be exploited to its maximum potential. Businesseswhich utilise their human resources in an effective way have better chancesof success in the future. Sustainability and progress of business will dependon new competencies, methods, strategies and value creating processes.Every organisation has accepted that human resource is the most valuableasset of an organisation though its value is not mentioned in the balancesheet.Lack of information regarding human capital was seen as a serioushandicap for decision

Q6. What do you mean by Employee Orientation Programmes? List out some points of Good employee orientation programmes.

Definition of Employee Orientation Programmes

List of Good employee orientation programmes


Definition of Employee Orientation Programmes: Employee orientation programmes are given to new employees at a place of business or work. It helps employees to speed up and learn the “ground rules” of the company. This often reduces start-up time, training, and other indirect costs associated with having new employees who are unfamiliar with the company culture. Orientation programmes

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