Beruflich Dokumente
Kultur Dokumente
Unit – I
1. Contract:
Agreement:
• Lawful consideration
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• Lawful object
• Legal formalities.
5. Consideration:
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8. Mistake:
Mistake of law:
Mistake of fact:
• Bilateral mistake
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• Unilateral mistake.
9. Classification of contract:
Implied Contract:
Quasi-Contract:
Executory contract:
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1. Actual performance
• Two parties
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• Goods
• Price
These are the goods which a seller does not possess at the time
of the contract but which will be manufactured or produced or
acquired by him after the making of the contract of sale [Sec.
2(6)]
Contingent goods: Though a type of future goods, these are the goods
the acquisition of which by the seller depends upon a contingency which may
or may not happen [Sec. 6(2)].
Existing goods: These are the goods which are owned or possessed by
the seller at the time of sale. Only existing goods can be the subject of a
sale.
Modes:
Actual delivery
Symbolic delivery
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19. Condition:
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24. Pro-Note:
Bill of exchange:
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pay a certain sum of money only to, or to the order of, a certain person
or to the bearer of the instrument (Sec. 5).
Cheque:
27. Negotiation:
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Assignment:
28. Indorsement:
By express waiver
By cancellation
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By express agreement
By implied agreement
By ratification
By operation on law.
Special agent
General agent
Universal agent
Commission agent
• Right of retainer
• Right of lien
• Right of indemnification
• Right of compensation
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• To recover damages
The principal is liable for the contracts of the agent, unless there
is a trade custom, or a term, express or implied, to the effect which
makes the agent personally liable. The legal position is the same as
where the principal is named.
Undisclosed Principal:
36. Law:
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37. Consideration:
38. Consent:
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Sale Hire-purchase
agreement
Negotiation Assignment
The title of the transferee is better The title of the assignee is subject
than that of the transferor to the defects and equities in the
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Unit – II
COMPANY LAW
2. Who is a director?
3. What is a prospectus?
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It is the charter of the company They are the regulations for the
indicating the nature of its internal management of the
business, its nationality and its company and are subsidiary to
capital. It also defines the the Memorandum.
company’s relationship with
outside world.
It defines the scope of the They are the rules for carrying
activities of the company or the out the objects of the company
area beyond which the actions of as set out in the memorandum.
the company cannot go.
It, being the charter of the They are the subordinate to the
company, is the Supreme memorandum. If there is a
document. conflict between the Articles and
the Memorandum, the latter
prevails.
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‘Ultra’ means ‘beyond’ and ‘vires’ means ‘powers’. The term Ultra
vires a company means that the doing of act is beyond the legal
power and authority of the company.
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AOA: AOA are the rules, regulations and bye-laws for the internal
management of the affairs of a company. They are framed with the
object of carrying out the aims and objects as set out in the
Memorandum if Association.
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APPOINMENT OF DIRECTORS
1. First Directors
2. Appointment of Directors by the Company
3. Appointment of Directors by Directors
4. Appointment of Directors by Third Parties
5. Appointment by proportional representation
6. Appointment of Directors by the Central Government
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necessary
1. Part I of schedule II
a. General Information
b. Capital Structure of the company
c. Terms of the present issue
d. Particulars of the issue
e. Company Management and Project
f. Particulars in regard to the company and other listed
companies under the same management.
g. Outstanding litigation pertaining to
h. Management perception of risk factors
2. Part II of schedule II
a. General Information
b. Financial Information
c. Statutory and other information.
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FUNCTIONS OF PROMOTER:
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1. Civil Liability
i. Recession of contract
j. Damages
2. Criminal Liability
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Unit – III
INDUSTRIAL LAW
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1) What is a factory?
Enter, with assistants who are in the services of the government or any
local or other public authority or with an expert, the premises of a
factory.
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Seize, or take copies of, any register record or other document or any
portion the as he may consider necessary in respect of any offence
under this act, which he has reason to believe, has been committed.
Direct the occupier that any premises or any part thereof, or anything
lying there in, shall be left undisturbed for so long as is necessary for
the purpose of any examination under clause (b).
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6) Industrial dispute-Explain.
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It means,
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11) What are the principles of set-on and set-off of allocable surplus
under the payment of bonus act, 1965?
Set on:
Where the allocable surplus for any accounting year exceeds the
amount of maximum bonus payable to the employees in the
establishment under sec.11, then the excess of allocable surplus,
subject to a limit of 20 percent of the total salary or wage of the
employees employed in the establishment in that accounting year,
shall be carried forward for being get on to the succeeding accounting
year and so on up and inclusive of the 4th accounting year.
Set off:
12) Define (1) Industrial Tribunal and (2) Unfair Labour Practices.
Industrial Tribunal:
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Young person:
Adolescent:
Worker:
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Chief inspector:
The first factories act in India was passed in 1881.it was designed
primarily to protect children and to provide for some health and safety
measures. it was followed by new acts in 1891, 1911, 1922 and
1934.the act of 1934 was passed to implement the recommendations
of the royal commission on Labour in India and the conventions of the
international Labour organization.
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In strike for illegal workman the punishment may the imprisonment for
1month or with fine may extend to Rs 50 or with both. In lock-out the
punishment for Legal employer is imprisonment of 6months, or with
fine which may extend to Rs 1,000 or with both.
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Adjudication machinery.
Arbitration machinery.
The minimum bonus is the bonus payable whether or not the employer
has any allocable surplus in the accounting year. A minimum bonus
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which shall be 8.33 per cent of the salary or wage earned during the
accounting year or Rs.100.whichever is higher.
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Unit – IV
1. VAT:
A value Added Tax is a multi stage sales tax. It is different from a retail
sales tax. It’s a method of taxation whereby the tax is levied on the value
added at each stage of the production or distribution chain.
2. Advantages of VAT:
3. Sales Tax:
4. Objectives of VAT:
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With increasing burden of direct taxes, like income tax, gift tax, wealth
tax etc... the tax payers have come to realize that tax planning has
considerably increased in the recent past.
The stability of the tax laws as well as the rate structure has been
affected adversely.
These have made proper tax management a vital necessity for the tax
payers or assesses.
6. ‘Casual Trader’:
Tax Avoidance is the legal utilization of the tax regime to one’s own
advantage, by means that are within the law in order to reduce the amount
of tax that is payable.
Excise duty, VAT, Customs duty, Service Tax, Value Added Tax (VAT).
9. CST, TNGST:
CST- Central Sales Tax; TNGST- Tamil Nadu General Sales Act.
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Unit – V
2. Copy right:
4. Consumer Dispute:
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[Sec2 (1) (e)], It means a dispute where the person against whom a
complaint has been made, denies or disputes the allegations contained in
the complaint.
5. Cybercrime:
8. Consumer:
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The word consumer has been defined separately for “goods” and
“services” “One who buys or agrees to buy any goods for a
consideration which has been paid or promised or partly paid and partly
promised or under any system of deferred payment.”
11. Trademark:
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Functions:
Characteristics:
It should be short.
Statutory Right
Negative Right
Multiple Rights
Economic Rights
Moral Rights
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Literary works
Sound recordings
Architectural works
17. Patent:
Acquisition of freedom.
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Patent invention becomes open to public for free use when it ceases to
be in effect.
Patentable:
Novelty
Inventive step
Industrially applicable
Non-Patentable:
A presentation of information;
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Service marks indicate the source or origin of services. For all practical
purposes, trademarks and service marks are subject to the same rules of
validity, use, protection and infringement. When a trademark is used in
connection with services it is called as “Service mark”.
24. PCT:
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26. “Hacking”:
(b)by a person who had the authority to act on behalf of the originator
in respect of that electronic record;
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Private key [Sec 2 (1) (zc)]. It means the key of a key pair used to
create a digital signature.
Public key [Sec 2 (1) (zd]. It means the key of a key pair used to verify
a digital signature and listed in the digital signature certificate.
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The director general shall, on receipt of direction under sub section (1),
submit a report on his findings within such period as may be specified by the
commission [Sec 26(3)].
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