Business Law Assignment Group Number 3.docx

Business Law Need for Law:1. 2. 3. 4. 5.

Transformation from barbarian to civilized life Disputes to resolve. For proper functioning of the societies. To impart justice equally among the citizens. Maintain law and order

Sources of law 1.

Equity Principle

Justice Equity Good conscience It comes into action when the common law fails or becomes silent. 2. Common law A: It is realized by the court It is the evolution of law through time which is accepted by majority of common people. 3. Precedence- The decision taken by predecessors. Equity principle Particular set of remedies involved with civil law

Nature and function of law 1. Just and reasonable 2. Fair or impartial in judgements 3. Justice in the form of penalties. 4. When an individual has received rights from the judiciary system, That very individual has duties.

Classification of the LAW  Civil Law : Civil law is a private law (Eg: Trespassing)  Criminal law : It is public law (Eg:Murder) When it comes to 2 different countries (states), It is public international law whereas when there is a dispute between two individuals from 2 different countries, It comes under private international law. NOTE: As per law , only one partner is allowed under Hindu marriage act ,. As per law, a male Muslim is allowed to have 4 partners under the mohammeden marriage act. As per law, Christians can have only one partner as per the Christian marriage act. Hierarchy of courts CIVIL COURT

SUPREME COURT

CIVIL

CRIMINAL

HIGH COURT

DISTRICT COURT/SUB COURT

MUNSHIF

SESSION COURT

MAGISTRATE COURT