Legal aspects of business
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This document provides answers to six questions related to legal aspects of business. It discusses presumptions of negotiable instruments, fair use and criticisms of law, stages of the Consumer Protection Act of 1986 in India, the purpose of a Memorandum of Association, health, safety and working conditions under the Factories Act, and the powers and duties of company directors. Students are encouraged to send their semester and specialization to receive fully solved assignments by email or phone.
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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
particularinference fromaparticularfactor evidence,unlessanduntil the truthof suchan 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:Initsmost general sense,afairuse isanycopyingof copyrightedmaterial done foralimited
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 nohard-and-fastrules,onlygeneral 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](https://image.slidesharecdn.com/legalaspectsofbusiness-151015080003-lva1-app6892/85/Legal-aspects-of-business-1-320.jpg)
![councilsandotherauthoritiesforthe settlementof 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(thatisgenerallyitsstakeholderorinvestor) of the objectsof a company, which are
permittedunderthe law.Thisparticularthing has been discussed in one of the acknowledged case
Cotman v Brougham [1918] AC 514.
A Companycan notact beyondthe above saidpurpose,unlessapprovedunderthe 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:Understandingyourrolesandresponsibilitiesshouldbe yourfirsttaskwhenappointed. The
board of directors is appointed to act on behalf of the shareholders to run the day to day affairs of
the business.The boardare directlyaccountable tothe shareholdersandeachyearthe companywill
holdan annual general meeting(AGM) atwhichthe directors mustprovide a report to shareholders
on the performance of the company, what its future
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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Legal aspects of business
- 1. Dear students get fully solved assignments Send your semester & Specialization name to our mail id : [email protected] or call us at : 08263069601 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 particularinference fromaparticularfactor evidence,unlessanduntil the truthof suchan 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:Initsmost general sense,afairuse isanycopyingof copyrightedmaterial done foralimited 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 nohard-and-fastrules,onlygeneral 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
- 2. councilsandotherauthoritiesforthe settlementof 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(thatisgenerallyitsstakeholderorinvestor) of the objectsof a company, which are permittedunderthe law.Thisparticularthing has been discussed in one of the acknowledged case Cotman v Brougham [1918] AC 514. A Companycan notact beyondthe above saidpurpose,unlessapprovedunderthe 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:Understandingyourrolesandresponsibilitiesshouldbe yourfirsttaskwhenappointed. The board of directors is appointed to act on behalf of the shareholders to run the day to day affairs of the business.The boardare directlyaccountable tothe shareholdersandeachyearthe companywill holdan annual general meeting(AGM) atwhichthe directors mustprovide a report to shareholders on the performance of the company, what its future Dear students get fully solved assignments Send your semester & Specialization name to our mail id : [email protected] or call us at : 08263069601