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LEGAL
ASPECTS OF BUSINESS
EMB 109
Answer any five questions
Q. 1. Give the
presumptions as to negotiable instruments of consideration.
Answer:A presumption is a rule of law that is used by courts or juries from
where they obtain a particular inference
from a particular fact or evidence, unless and until the truth of such an
inference is disproved. [i] It is only an inference as to the existence of one
fact from the existence of some other fact, founded upon a previous experience
of their connection.[ii] The three classes of presumptions include:
·
Presumptions
of law
·
·
Q. 2. Explain the use of law along with its
criticisms.
Answer:In its most general sense, a fair use is any copying of copyrighted
material done for a limited and “transformative” purpose, such as to comment
upon, criticize, or parody a copyrighted work. Such uses can be done without
permission from the copyright owner. In other words, fair use is a defense
against a claim of copyright infringement. If your use qualifies as a fair use,
then it would not be considered an illegal infringement.
So what is a “transformative” use? If this
definition seems ambiguous or vague, be aware that millions of dollars in legal
fees have been spent attempting to define what qualifies as a fair use. There
are no hard-and-fast rules, only general rules and varied court decisions,
because the judges and lawmakers who created the fair use exception did not
want to limit its definition. Like free speech, they wanted it to have an
expansive meaning that could be open to interpretation.
Q. 3. Explain the various stages of
Customer Protection Act, 1986.
Answer:Consumer Protection Act, 1986 is an Act of the Parliament of India
enacted in 1986 to protect interests of consumers in India. It makes provision
for the establishment of consumer councils and other authorities for the
settlement of consumers' disputes and for matters connected therewith.Consumer
Protection Councils are established at the national, state and district level
to increase consumer awareness.
The Central Consumer Protection Council
It is established by the Central Government
which consists of the
Q. 4. State the purpose of Memorandum of
Association
Answer:The very basic purpose of a MEMORANDUM OF ASSOCIATION of a company, is to
make aware its reader (that is generally its stakeholder or investor) of the
objects of a company, which are permitted under the law. This particular thing
has been discussed in one of the acknowledged case Cotman v Brougham [1918] AC
514.
A Company can not act beyond the above said
purpose, unless approved under the law, otherwise it would lead to an ultra
vires action of the company.
Q. 5. What are the other aspects of Factories
Act with respect to health and hygiene, safety, and working conditions of
employees?
Answer:
Q. 6. Describe the powers & duties of
the Directors.
Answer:Understanding your roles and responsibilities should be your first task
when appointed. The board of directors is appointed to act on behalf of the
shareholders to run the day to day affairs of the business. The board are
directly accountable to the shareholders and each year the company will hold an
annual general meeting (AGM) at which the directors must provide a report to
shareholders on the performance of the company, what its future
Dear
students get fully solved assignments
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