What are these?

An apple thrown up always comes down?

As you sow, you reap?
The last peanut is always sour?
If cabbage is boiled in house, 3 months in prison?


You know them..
Indian Lawyers you know
Ram Jethmalani
Harish Salve
Indian Lawyers contd
Can you recognize these personalities?
Business Laws

Dr.Padma Srinivasan
CUIM, II TRIM MBA
Module1
Introduction to Business Laws-2 sessions
Definition & Meaning of Law
Purpose of Law
Sources of Law
Classification of Law
National and International Law
Evolution of Mercantile / Business Law
Justice Delivery System in India.

Class objectives
1. What is the source of laws?
2. How is justice delivered in India?

8
1. Mr. X, a neighbour, is killing a pig for his dinner.
Can we ask him to stop?
2. Suresh found a lizard in his plate of Fried rice while
eating Peking, China. What can he do?
3. Next door people went on trip to Kulu & Manali
Their house was burgled. What can we do?
4. Kadir wants to join a leading org. He asked to sign
an employment bond for 10 years.
Shall we start with few examples?
9
Some more for your thought.
Krish is shopping for his marriage. He has chosen
his dress but he is not happy on the color. Can he
proceed against the shop?
Madhu wants to buy the assets & goodwill of K Co.
Can he?
W& Co. want to close shop. They are looking for
the highest bidder. No one turns up. How should
they go up?
FOR ALL THESE ONE MUST KNOW.

10
Definition, Meaning &
Purpose of law
Definition: Austin defines as Law is command of
Sovereign
Meaning: Any system of regulations to govern the
conduct of the people of a community, society or
nation, in response to the need for regularity,
consistency and justice based upon collective human
experience.
Purposes: The purpose of laws to provide for the
development, establishment and enforcement of
standards concerning human behavior.
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Classification of law
Statutory Laws -the will of legislature
Common Laws - the requirements of
laymen and common merchants
Law of Merchants - business laws
Equity- justice to all given in the manner
befitting the issues in place
12
Sources of Law
PRIMARY
Customs
Enactments passed by the
Parliament or the State
Legislatures
President and the Governor
ordinances
AIR (All India Reporter)
Manual of Central Laws
State laws, Personal law
SECONDARY
Judgments of the
Supreme Court High
Court and some of the
specialized Tribunals
Foreign courts
Lower Court precedents
International judgments
English Laws

Civil Private disputes; Criminal- Harmful to Society


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