BBA301 – LEGALAND REGULATORY FRAMEWORK

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.1 Discuss the major commercial and corporate laws prevailing in India.

 

Ans : Corporate Laws: Various Corporate laws are laws are:-

 

1.  The Companies Act 1956:-

 

The Companies Act 1956 is an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries. The Companies Act 1956 is administered by the Government of India through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. The Registrar of Companies (ROC) handles incorporation of new companies and the administration of running companies.

 

2. The Foreign Exchange Management Act (FEMA)  1999:- 

 

The Foreign Exchange Management Act (FEMA) is a 1999 Indian law “to consolidate and amend the law relating to foreign

 

 

 

 

Q. 2 Explain the essentials of a contract of sale. Discuss the rights of an unpaid seller.

 

Ans : Contract of sale:-

 

Section 4(1) of the Sale of Goods Act defines a contract of sale of goods as – “a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price.”

 

This definition reveals the following essential characteristics of contract of sale of goods :

 

1. Two parties:

 

 

Q. 3. Discuss the documents that are to be submitted to the ROC along with the application of for incorporation of a company

 

Ans : 1.During the registration process, all the documents are submitted to the ROC online through www.mca.gov.in. These forms need to be authenticated by signing it using a Digital Signature Certificate issued by the Certifying Authority in India. One of the promoters and directors should have a digital signature certificate to authenticate documents that are submitted to the ROC.

Identify the location and authorised capital of the company

 

2.It is important to have a proper address for the

 

 

Q.4 Differentiate Competition Act 2002 and MRTP act 1969. Discuss the salient features of Competition Act.

 

Ans : Differences:

 

Following are the important differences between the MRTP Act, 1969 and Competition Act, 2002:

 

1)  MRTP Act is based on the pre-liberalization scenario whereas Competition Act is based on the post liberalization scenario.

2)  MRTP Act emphasizes on curbing monopolies whereas Competition Act emphasizes on promoting competition.

3)  MRTP Act provides for compulsory

 

 

 

Q. 5 Explain the key elements of IPRs. Differentiate between trademarks and copy right.

 

Ans : Elements of IPRs:

 

Basically trademarks and copyrights are key elements of IPRs. That are explained as below:-

 

1.Trademarks:

 

Trademarks are distinctive indicators or signs that individuals, businesses, or other legal entities use. They use these indicators or signs to communicate that services or products to consumers that are connected to the trademarks stem from a

 

 

Q.6  Explain the main objectives of Factories Act, 1948. Discuss the main areas that are focused in this act.

 

Ans : Objectives of Factory act:

 

• The main objectives of factory act were to ensure certain points about the workers. This act was brought due to the properly implementing the laws of workers. Its main objectives were:-
• To ensure proper safety of workers
• To make sure that proper medical facility is provided to customers in case of emergency
• every factory adequate and suitable facilities for washing should be provided and maintained for the use of workers.
• If the provisions of The Factories Act, 1948, or any rules made under the Act, or any order given in writing under the Act is violated, it is treated as an offence.

 

 

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