2:47 LTE O A Back Question File Introduction 20% Understanding and usage 20% Concepts and Application 60% of the formula related to the question Procedure / Steps 60% Conclusion 20% Correct Answer & 20% Interpretation 1. Concept of "indemnification" is undergoing a major overhaul in the current regime of globalization. Discuss this concept from the perspective of international commercial transactions and outline the challenges faced by both business houses & law makers (10 Marks) NMIMS GLOBAL ACCESS SCHOOL FOR NMIMS CONTINUING EDUCATION NMIMS Global Access School for Continuing Education (NGA-SCE) Course: Business and Allied Law Internal Assignment Applicable for June 2022 Examination 2. The idea of Limited Liability Partnership was not widely adopted by the Indian market as it was expected. Discuss the reasons, identify lack of tax reforms and outline the relevance of LLPs. (10 Marks) 3. Imagine you visited a mall with valet parking. You gave your car key to the mall's staff to park your car. The parking tag given by the mall's staff reads "In the event of any loss, theft or damage, the management shall not be held responsible for the same and the guest shall have no claim whatsoever against the management". When you came out of the mall, you learnt that someone stole your car key and stole your car. In spite of the police complaint, the car is not traceable. Insurance company settles your claim of Rs.3 lakhs. Please analyse following points a. Thereafter, can you issue a letter of subrogation in favour of the insurance company and approach the Consumer Commission by filing a complaint against the Mall's management seeking payment of the value of the car and compensation for deficiency in service? Give your reason for either of your answer (5 Marks) b. Analyse whether you are a "bailer" and mall's management is "bailee" in the aforesaid case (5 Marks) * * *#**#**# 2 / 2 | 100% | X