Legal Business Environment
Legal Business Environment
Legal Business Environment
On the other hand, an EGM is a special meeting that is called to address a specific issue that
cannot wait until the next AGM. EGMs are generally called when a critical decision needs to
be made, such as amending the company's articles of association, changing the company's
name, or approving a merger or acquisition.
18.What is the outcome of Doctrine of Ultra vires.
The doctrine of ultra vires is a legal principle that applies to corporations and other legal
entities, which states that any action taken by such an entity beyond the scope of its legal
authority or power is considered void and cannot be enforced.
19.What are the objectives of trade unions
Collective bargaining
Workplace safety
Legal representation
Education and training
Political advocacy
Social and economic justice
20.Who is a consumer under Consumer Protection Act?
According to the Consumer Protection Act (CPA), a consumer is any person who purchases
goods or services for personal, household, or business use. This includes:
The Indian judiciary is composed of the Supreme Court, high courts, and subordinate
courts. The Supreme Court is the highest court in the land and has the power of judicial
review. The high courts are located in each state and have jurisdiction over the respective
state's territories. Subordinate courts include district courts and lower courts that are
responsible for resolving civil and criminal disputes.
The legal system in India also includes specialized courts and tribunals that are responsible
for handling specific types of cases. These include the consumer courts, labor courts, tax
tribunals, and environmental courts, among others.
The legal profession in India is regulated by the Bar Council of India, which sets standards
for legal education, regulates the entry of lawyers into the profession, and oversees the
professional conduct of lawyers.
Overall, while the Indian legal system is complex and can be slow at times, it is an essential
part of the country's democracy and provides a mechanism for resolving disputes and
upholding the rule of law.
2. Explain ‘Jurisprudence thought’ with suitable examples.
Jurisprudence is the study of the principles, origins, and nature of law. It is a complex and
multifaceted field that has evolved over centuries of legal and philosophical thought.
Jurisprudence thought refers to the various theories and schools of thought that have
emerged over time to understand the nature of law, its purpose, and its relationship to
society.
There are several important schools of jurisprudence thought, including natural law, legal
positivism, and critical legal studies. Each of these schools offers a unique perspective on
the nature of law and its role in society.
Natural law is the theory that there are certain inherent moral principles that are part of the
natural order of things, and that these principles form the basis of all law. According to
natural law theory, laws that violate these principles are illegitimate and should be
disobeyed. For example, the American civil rights movement of the 1960s was based in
part on the idea of natural law, with civil rights activists arguing that segregation laws
violated basic principles of justice and equality.
Legal positivism, on the other hand, holds that law is a human construct that exists only
because people have agreed to follow it. According to this theory, there is no inherent moral
or ethical basis for law, and it is purely a matter of convention and social agreement. For
example, the U.S. Constitution is an example of legal positivism, as it is a written document
that defines the legal framework of the United States and is based on the agreement of the
people to be bound by its provisions.
Critical legal studies is a school of thought that emerged in the late 20th century as a
response to the perceived limitations of traditional legal theories. Critical legal scholars
argue that law is not a neutral or objective system, but is instead a reflection of the values
and interests of those in power. According to this theory, the law can be used to perpetuate
social inequality and oppression, and must be analyzed critically in order to understand its
true nature and effects.
In summary, jurisprudence thought is a rich and complex field that encompasses a wide
range of theories and perspectives on the nature of law and its role in society. Each school
of thought offers a unique perspective on the law, and each has contributed to our
understanding of this important subject
3. Discuss with examples the essential elements of a valid contract.
Offer and Acceptance
Consideration
Capacity
Intention
Legal Object
Consent
4. Explain with examples difference between valid, void and voidable contract.
Valid Contract: A valid contract is an agreement that meets all the essential
elements of a contract, as discussed in the previous question. A valid contract is
legally binding and enforceable by law. For example, a contract to purchase a car
between two parties that contains an offer, acceptance, consideration, legal
capacity, legal object, and consent is a valid contract.
Void Contract: A void contract is an agreement that has no legal effect from the
beginning. It is as if the contract never existed. A void contract is not enforceable
by law, and it cannot be made valid even if both parties agree. For example, a
contract to sell illegal drugs is a void contract because it is against the law.
Articles of Association:
The Articles of Association are the rules and regulations that govern the internal affairs of
the company. It contains the following information:
The rights and duties of the shareholders
The procedures for issuing and transferring shares
The appointment and powers of directors and officers
The rules for holding board meetings and general meetings
The procedures for voting and passing resolutions
The Articles of Association can be altered or amended at any time, subject to the company's
constitutional provisions and the Companies Act. Any changes must be approved by the
shareholders at a general meeting.
8. Discuss the types of companies.
Sole Proprietorship
Partnership
Limited Liability Partnership (LLP)
Private Limited Company
Public Limited Company
Unlimited Company
Nonprofit Organization
9. Discuss the main provisions of RTI Act.
Public authorities
Information disclosure
Timeframe for response
Exemptions
Fees
Appeals
Protection for whistleblowers
10. Discuss the IPR legislations in India.
The Patents Act, 1970
The Copyright Act, 1957
The Trade Marks Act, 1999
The Designs Act, 2000
The Geographical Indications of Goods (Registration and Protection) Act, 1999
The Protection of Plant Varieties and Farmers' Rights Act, 2001
11. Discuss in detail different sources of law.
Constitutional Law
Statutory Law
Common Law
Administrative Law
International Law
12. Elaborate the essentials of valid contract.
Offer
Acceptance
Consideration
Intention to create legal relations
Capacity
Free Consent
Legality of object
13. Define consideration. State the rules and exceptions to the rule of consideration with
suitable examples.
Consideration is one of the essential elements of a valid contract. It refers to something of value
that is exchanged between the parties to a contract. Consideration can take many forms,
including money, goods, services, promises, or other benefits.
In order for a contract to be legally enforceable, it must be supported by consideration. This
means that both parties to the contract must receive something of value in exchange for their
promises or obligations. Consideration ensures that both parties have a mutual obligation to
fulfill the terms of the contract.
Rules of Consideration:
Consideration must move from the promisee
Consideration need not be adequate but must be sufficient
Consideration must not be past
Exceptions to the Rule of Consideration:
Promissory Estoppel
Contracts under seal
14. Elucidate different modes of performing contractual promise.
Performance
Payment
Delivery
Satisfaction
Mutual release
Rescission
Substitution
15. Discuss the rights and duties of a bailor and bailee
A bailment is a legal relationship in which a person (the bailor) transfers possession of property
to another person (the bailee) for a specific purpose or period of time, without transferring
ownership of the property. The rights and duties of a bailor and bailee are governed by the
terms of the bailment agreement, as well as by applicable laws and regulations. Here are some
of the key rights and duties of each party:
Rights and Duties of the Bailor:
Right to Possession
Duty of Disclosure
Duty to Compensate
Duty to Indemnify
Right to Terminate
Rights and Duties of the Bailee:
Right to Possession
Duty of Care
Duty to Return
Duty to Account
Right to Compensation
16. Define goods under Sale of Goods Act. Explain implied conditions with pertinent case laws
or examples.
Under the Sale of Goods Act, "goods" refer to any tangible, movable property that can be
bought and sold, such as products, raw materials, and commodities. The Act applies to both
new and second-hand goods.
The Sale of Goods Act implies certain conditions into every contract for the sale of goods,
regardless of whether they are expressly stated in the contract or not. These conditions include:
Condition of title
Condition of description
Condition of quality
Condition of fitness for purpose
If any of these conditions are not met, the buyer has a right to reject the goods and seek damages
from the seller.
For example, in the case of Beale v Taylor (1967), the buyer purchased a car from the seller,
which was advertised as a 1961 model. However, the car was actually a 1958 model. The court
held that there was a breach of the condition of description, and the buyer was entitled to reject
the car and claim damages.
17.Discuss regarding doctrine of constructive notice and doctrine of indoor management.
The doctrine of constructive notice and the doctrine of indoor management are two principles
of company law that help to establish the legal rights and obligations of a company and its
members.
The doctrine of constructive notice holds that any person dealing with a company is deemed to
have notice of its memorandum and articles of association and any other public records, such
as the company's registration documents. This means that any person who enters into a
transaction with a company is expected to have knowledge of the company's legal structure
and any restrictions or limitations on its powers. The doctrine of constructive notice aims to
protect the interests of the company and its shareholders by ensuring that third parties are aware
of the company's legal obligations and limitations.
On the other hand, the doctrine of indoor management is a rule that protects third parties who
enter into transactions with a company without actual knowledge of any irregularities or defects
in the company's internal affairs. This doctrine recognizes that third parties may not be aware
of the internal workings of a company and may rely on the authority of its officers to act on
behalf of the company. Therefore, the doctrine of indoor management allows third parties to
assume that any act of a company's officers is within the scope of their authority and binding
on the company, even if the officers have acted improperly or exceeded their authority.
18.Discuss various steps involved in incorporation of a company.
Incorporation of a company involves several steps that need to be taken in a specific order. The
following are the various steps involved in incorporating a company:
Obtain Digital Signature Certificate (DSC)
Apply for Director Identification Number (DIN)
Name availability
Memorandum and Articles of Association
Certificate of Incorporation
PAN and TAN
Bank account opening
19. Discuss the critical issuers involved Indian Patents Act.
Section 3(d)
Compulsory licensing
Patentability of software and business methods
Section 8
Section 84
20.Critically evaluate the mechanism for alternative dispute resolution mechanism in India
Alternative Dispute Resolution (ADR) mechanisms have been increasingly adopted in India to
provide a more efficient, effective, and accessible way to resolve disputes outside the
traditional court system. ADR mechanisms include negotiation, mediation, conciliation, and
arbitration.
While ADR mechanisms in India have their advantages, there are also several criticisms and
challenges that need to be addressed.
Firstly, one of the major issues with ADR in India is the lack of awareness and education among
the general public about these mechanisms. Many people are unaware of their existence or how
they work, and this can lead to mistrust and skepticism about ADR. This lack of awareness also
makes it difficult for people to access these mechanisms, particularly those in rural areas or
who belong to marginalized communities.
Secondly, there is a lack of standardized procedures and regulations governing ADR in India.
While there are guidelines and codes of conduct, they are not uniformly followed or enforced.
This can result in inconsistencies and uncertainties in the application of ADR mechanisms.
Thirdly, there is a lack of trained professionals in ADR, particularly mediators and arbitrators.
This shortage can lead to a limited pool of experts available to handle disputes, particularly in
specialized areas such as commercial disputes.
Fourthly, there is a tendency among some parties to use ADR mechanisms to delay or obstruct
the resolution of disputes. This can result in prolonged and costly proceedings, which defeats
the purpose of ADR mechanisms.
Finally, while ADR mechanisms are meant to be faster and less expensive than traditional court
proceedings, this is not always the case. In some instances, ADR mechanisms can be more
time-consuming and expensive, particularly if they involve multiple sessions or require the
involvement of outside experts.