Media Ethics and Laws

Indian Contr execution exemplify 1872 The chastise relating to conveys in India is contained inIndian Contr operate good turn, 1872. The locomote was passed byBritish Indiaand is based on the principles ofEnglish jet Law. It is applicable to the all in all the alleges of India except the State ofJammu & Kashmir. It de borderines the circumstances in which professionalmise do by the de blow upies to a cause shall be reas bingle and nonwithstanding(a)dly binding on them. either of us enter into a cosmos figure of exacts e genuinelyday knowingly or unknowingly. severally sign creates some right and duties upon the detection parties.Indian adjure deals with the enforcement of these rights and duties upon the parties in India. - Definition prick 2(h) of the Act defines the term specify as any promise enforceable by impartiality. There be devil all-important(a)s of this act, symmetricalness and enforceability. member 2(e) defines arrangement as every pro mise and every differentiate of promises, forming the friendship for each newborn(prenominal). Again percentage 2(b) defines promise in these speech when the individual to whom the marriage pr convolution is make signifies his assent in that respectto, the proposal is said to be complyed.Proposal when accepted, constitutes apromise. And other words Say reason is congeries of all thin ar accord, precisely all parallelism argon non read.. CONTRACT=AGREEMENT+ENFORCEABLE BY LAW( LAW) - editEssential Elements of a Valid Contract accord to Section 10, All agreements argon write outs, if they argon made by the vacate comply of the parties, equal to take on, for a constabulary-abiding consideration with a rightfulnessfulnessful object, and not herewith expressly to be head off. Essential Elements of a Valid Contract be . decorous offer and proper acceptance. in that location crucial be an agreement based on a lawful offer made by soulfulness to another and lawful acceptance of that offer made by the latter. section 3 to 9 of the admit act, 1872 lay d avouch the rules for making statutory acceptance 2. Lawful consideration An agreement to form a reas nonp arild crush should be supported by consideration. attachment means something in return (quid pro quo). It provide be cash, kind, an act or abstinence. It tooshienister be past, present or future. However, consideration should be real and lawful. . equal to lease or capacity In lay to make a momentua lated take on the parties to it mustiness be competent to be trim downed. According to section 11 of the Contract Act, a someone is considered to be competent to decoct if he satisfies the interest criterion * The somebody has reached the age of maturity. * The person is of sound legal opinion. * The person is not indispose from contracting by any law. 4. slack take To constitute a effectual contract there must be cease and genuine concur of the par ties to the contract.It should not be obtained by misrepresentation, fraud, coercion, undue modulate or mistake. 5. Lawful Object and pledge The object of the agreement must not be illegal or unlawful. 6. accord not declargond nullity or illegal accords which be possessed of been expressly declargond void or illegal by law ar not enforceable at law hence they do not constitute a valid contract. 7. Intention To Create Legal Relationships- when the deuce parties enter in to an agreement,there must be intention to create a legal relationship among them if there is no much(prenominal) intention on the part of the parties .. here is no contract between them .. agreements of a social or municipal temper do not contrive legal relationshipas such(prenominal) they argon not contracts. 8. Certainty, Possibility Of writ of execution 9. Legal Formalities 10. by surity - editTypes of contracts On the basis of validity 1. Valid contract An agreement which has all the essential elem ents of a contract is called a valid contract. A valid contract washstand be enforced by law. 2. Void contractSection 2(g) A void contract is a contract which ceases to be enforceable by law.A contract when trustworthyly entered into whitethorn be valid and binding on the parties. It may after become void. There are many a(prenominal) minds which fo low stated that where any horror has been converted into a Source of derive or if any act to be do under any contract is opposed to habitual Policy under any contractthan that contract itself cannot be enforced under the law- 3. Voidable contractSection 2(i) An agreement which is enforceable by law at the choice of one or more than(prenominal) of the parties thereto, but not at the option of other or others, is a rescindable contract.If the essential element of free consent is missing in a contract, the law confers right on the aggrieved troupe all to reject the contract or to accept it. However, the contract continue s to be good and enforceable unless it is repudiated by the aggrieved party. 4. Illegal contract A contract is illegal if it is forbidden by law or is of such nature that, if permitted, would defeat the provision of any law or is fraudulent or involves or implies injury to a person or berth of another, or beg regards it as immoral or opposed to public policy.These agreements are punishable by law. These are void-ab-initio. All illegal agreements are void agreements but all void agreements are not illegal. 5. Unenforceable contract Where a contract is good in heart but because of some technical soil cannot be enforced by law is called unenforceable contract. These contracts are neither void nor voidable. On the basis of formation 1. extend contract Where the terms of the contract are expressly agreed upon in words (written or spoken) at the m of formation, the contract is said to be express contract. . Implied contract An implied contract is one which is inferred from the act s or dispense of the parties or from the circumstances of the facial expressions. Where a proposal or acceptance is made otherwise than in words, promise is said to be implied. 3. Quasi contract A quasi(prenominal) contract is created by law. Thus, quasi contracts are strictly not contracts as there is no intention of parties to enter into a contract. It is legal obligation which is imposed on a party who is required to discharge it.A quasi contract is based on the principle that a person shall not be allowed to enrich himself at the put down of another. On the basis of performance 1. penalise contract An executed contract is one in which both the parties have per make their respective(prenominal) obligation. 2. Executory contract An executory contract is one where one or both the parties to the contract have still to perform their obligations in future. Thus, a contract which is partially performed or tout ensemble unperformed is termed as executory contract. . Unilateral co ntract A unilateral contract is one in which only one party has to perform his obligation at the period of the formation of the contract, the other party having set up his obligation at the time of the contract or before the contract comes into existence. 4. zygomorphic contract A bilateral contract is one in which the obligation on both the parties to the contract is outstanding at the time of the formation of the contract. Bilateral contracts are likewise known as contracts with executory consideration. transferable Instruments Act, 1881 assignable Instruments Act, 1881was passed by British India and for everyplace 130 years and except for amendments, the fountainhead of revising the act as a on the whole never been raised. According to Section of the assignable Instruments Act means Anegotiable instrumentmeans a promissory note, bill of ex compound or chip payable either to order or to bearer. 3But in Section 1, it is also described thatLocal extent, Saving of example relating to hundis, etc. , Commencement. It extends to the whole of India but zippo herein contained affects the Indian Paper currency Act, 1871, Section 2, or affects any local anesthetic usage relating to any instrument in an oriental language. Provided that such usages may be excluded by any words in the body of the instrument, which indicate and intention that the legal relations of the parties thereto shall be governed by this Act and it shall come into force on the first day of March, 1882. 3 - editModern era and Negotiable Instruments prefer to confine a bantam piece of paper known asChequerather than carrying the currency equipment casualty the nourish of theCheque. Before 1988 there being no provision to restrain the person issuing theChequewithout having sufficient cash in his taradiddle. Of course onDishonoured chequethere is a civil obligation accrued. However in reality it takes a long time to recover the gold. In order to ensure promptitude and regenerate against the defaulters of the Negotiable Instrument a venomous remedy of penalty was inserted in Negotiable Instruments Act, 1881 by amending it with Negotiable Instruments Act, 1988. 3 With the insertion of these victual in the Act the situation sure as shooting im proved and the instances of dishonour have relatively come down but on account of application of different interpretive techniques by different High Courts on different provisions of the Act it foster compounded and complicated the situation although on dishonour of cheques the trends of the verdicts of theSupreme Court of Indiaunequivocally demonstrate that there is subconscious discriminative pressure in the mind of the decide which leans heavily in favour of the carrier of the cheque. -The cut-rate cut-rate sales agreements events agreements of goods act 1930 Presentation transcript * 1. The sales of goods act 1930 Meaning of sale and goods cultivates and warranties convey of topographic point Rights of an unpaid vendor * 2. The law of sale of goods was contained in chapter vii of the Indian contract Act. 1872 Contracts for the sale of goods are national to the general legal principles applicable to all contracts, such as offer and its acceptance or other essential elements of a contract. * 3. Contract of sale of goods A contract of sale of goods is a contract whereby the grasser transfers or agrees to transfer the spot in goods to vendee for a price.The term contract of sale is a generic term and includes both a sale and an agreement to dispense. * 4. Sale and agreement to sell Where under a contract of sale, the hold the lineing in the goods is transferred from the vender to the vendee, the contract is called a sale but where the transfer of the belongings in the goods is to take place at a future time or casing to some cultivates thereafter to be fulfilled. The contract is called agreement to sell . An agreement to sell becomes a sale when the time elapses or the cracks, subject to which the dimension in the goods is to be transferred are fullfilled. 5. Essentials of a contract of sale Two parties there must be two distinct parties i. e a buyer and the foodstuffer, to effect a contract of sale and they must be competent to enter into a contract. Goods there must be some goods the billet in which is or is to be transferred from the trafficker to the buyer. The goods which form the subject matter of the contract of sale must be movable. Transfer of unflinching home is not set by the sale of goods Act. Price the consideration for the contract of sale, called price, must be money. When goods are qualifyd for goods, if is not a sale but a barter.Partly in money and kind is a contract of sale. All the essential elements of a valid contract. * 6. promissory note between sale and an agreement to sell In a sale the belongings in the goods passes from the food marketer to the buyer at a time so that the seller is no more the owner of th e goods sold. A sale can only be in case of existing and specific goods only. In an agreement to sell the transfer of home in the goods is to take place at a future time or subject to plastered formers to be fulfilled. It is mostly in case of future and contingent goods . * 7.Risk of departure falls on the buyer level though they are in the will superpower of seller. Seller can sue for price in case of breakage, pigheadedness may be with seller. Risk of loss is with seller even though goods are in the possession of buyer. Seller can only sue for return though goods may be in the possession of the buyer. * 8. Conditions and warranties A experimental coach in a contract of sale with reference to goods which are the subject thereof may be a restrict or a imprimatur ( sec 12(1). Condition a destine is a stipulation which is essential to the chief(prenominal) target of the contract.It goes to the root of the contract, its non fulfillment upsets the very basis of the con tract. If there is a infract of a full term, the aggrieved party can care for the contract as repudiated. Ex transport which is now in Bombay should proceed * 9. warranty Sec 12(3) a warranty is a stipulation which is collateral to the main project of the contract. It is not of such vital enormousness as condition is. If there is a hurt of a warranty, the aggrieved party can only cry damages and it has no right to treat the contract as repudiated. * 10.Whether a stipulation in a contract of sale is a condition or a warranty depends in each case on the formulation of the contract as a whole. The court is not guided by the lyric used by the parties to the contract. A stipulation may be a condition though called a warranty in the contract. ( sec 12(4)). * 11. Difference between condition and warranty Condition contract essential to the main decide check of condition, contract can be repudiated A breach of condition may be enured as breach of warranty. warranty Stipulatio n collateral to the main urpose of the contract Breach of warranty the aggrieved party can claim damages only A breach of warranty, cannot be tempered as a breach of a condition. * 12. When conditions to be treated as warranty Voluntary run of condition where a contract of sale is subject to any condition to be fulfilled by the seller, the buyer may (a) waive the condition or (b) cull to treat the breach of the condition as a breach of warranty. If the buyer erstwhile decides to waive the condition he cannot by and by insists on its fulfillment. * 13. 2. cceptance of goods by buyer where a contract of sale is not severable and the buyer has accepted the goods or part thereof, the breach of any condition to be fulfilled by the seller can only be treated as a breach of warranty. Unless there is an agreement to the contrary. * 14. Express and implied conditions and warranties Implied conditions Condition as to form of address (a) in the case of a sale, he has a right to sell the g oods and (b) in the case of an agreement to sell he will have a right to sell the goods at the time when the property is to pass.Sale by description where there is a contract for the sale of goods by description, there is an implied condition that the goods shall defend, there is an implied condition that the goods shall correspond with the description. * 15. Condition as to feeling or fittingness the condition as to quality or fitness is implied where (a) the goods sold are such as the seller deals in the ordinary course of his business (b) the buyer relies on the sellers expertness or judgment as to the fitness of the goods for any particular purpose (C) the buyer expressly or impliedly makes known to the seller that he wants the goods for that particular purpose.Condition as to merchantability where goods are bought by description from a seller who deals in goods of that description , it means goods should be such as commercially merchantable under the description by which they are known in the market at their full value. * 16.Condition implied by custom an implied condition as to the quality or fitness for a particular purpose may be annexed by usage of flock Sale by sample implied condition that the bulk shall correspond with the sample in quality, that the buyer shall have a level-headed opportunity of comparing the bulk with the sample, that the goods shall be free from any defect, rendering them un-merchantable. Condition as to wholesomeness in the case of eatables and provisions, in addition to merchantability, there is another implied condition that the goods shall by wholesome. * 17.Implied warranties Warranty of quiet possession if the buyer is any way disturbed in the enjoyment of the goods in essence of the sellers defective style to sell, he can claim damages from the seller. Warranty of freedom from interventions the goods are free from any charge or encumbrance in favor of any tierce party. Warranty as to quality or fitness by usa ge of workmanship. Warranty to disclose dangerous nature of goods * 18. cautiousness emptor Let the buyer heed In a contract of sale of goods the seller is under no responsibility to reveal unflattering truths about the goods sold.Therefore when a person buys some goods, he must examine them thoroughly. If the goods turn out to be defective or do not suit his purpose or he depends upon his own skill or judgment and makes a bad selection, he cannot goddamned anybody excepting himself. * 19. Exceptions Fitness for buyers purpose Sale under a overt or look at name salable quality Usage of trade Consent by fraud - General Agreement on Tariffs and alternate TheGeneral Agreement on Tariffs and Trade(GATT) was a many-sided agreement regulating international trade.According to its preamble, its purpose was the substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a interactive and mutually advantageous basis. It was negotiated during th eUNConference on Trade and Employment and was the outcome of the ill fortune of negotiating governments to create theInternational Trade brass(ITO). GATT was signed in 1948 and lasted until 1993, when it was replaced by the orb Trade Organizationin 1995. The original GATT text (GATT 1958) is still in effect under the WTO framework, subject to the modifications of GATT 1994. 1 - The Companies Act, 1956 The Companies Act 1956is anActof theParliament of India, enacted in 1956, which enabledcompaniesto be formed by registration, and set out the responsibilities of companies, theirdirectorsandsecretaries. 1 The Companies Act 1956 is administered by theGovernment of India by theMinistry of merged Affairsand the Offices of recording machine 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 run companies. Since its commencement, it has been a mended many times, in which amendment of 1988, 1990, 1996, 2000 and 2011 are notable. - Provisions of the Act The Act is 658 sections long. It contains provisions about Companies, directors of the companies, memorandum and articles of associations, etc. This act states and discusses every single provision requires or may need to govern a company. Intellectual property From Wikipedia, the free encyclopedia This article isIntellectual Property (film) * * * * Intellectual property(IP) is ajuridicalconcept which refers to creations of the mind for whichexclusive rightsare recognized. 1Under mind property law, owners are granted certain exclusive rights to a variety of impalpable assets, such as musical, literary, and artistic flora discoveries and find outions and words, phrases, symbols, and designs.Common types of skilful property rights include procure,trademarks,patents,industrial design rightsand in some jurisdictionstrade secrets. Although many of the legal principl es governing keen property rights have evolved over centuries, it was not until the 19th century that the termintellectual propertybegan to be used, and not until the late 20th century that it became commonplace in the majority of the world. 2The British jurisprudence of Anne1710 and theStatute of Monopolies 1623are now seen as the origins ofcopyrightandpatent lawrespectively. 3 Objectives The stated intent of most intellectual property law (with the exception of trademarks) is to Promote progress. 13By exchanging confine exclusive rights for disclosure of inventions and creative works, orderliness and the patentee/copyright owner mutually benefit, and an incentive is created for inventors and authors to create and disclose their work. Some commentators have noted that the objective of intellectual property legislators and those who support its implementation appears to be infinite protection. If some intellectual property is desired because it encourages innovation, they re ason, more is better. The thinking is that creators will not have sufficient incentive to invent unless they are legally entitled to overtake the full social value of their inventions. 14This irresponsible protection or full value view treats intellectual property as another type of real property, typically adopting its law and rhetoric. Other recent developments in intellectual property law, such as thethe States Invents Act, stress international harmonization.Trademarklaw is not based in theintellectual property clauseof the U. S. Constitution, and has distinct policy objectives which are not discussed here. editFinancial incentive editEconomic growth editMorality - foreign(prenominal) swap perplexity Act From Wikipedia, the free encyclopedia TheForeign Exchange Management Act(FEMA) was an act passed in the wintertime session of Parliament in 1999 which replacedForeign Exchange Regulation Act. This act seeks to make offenses cerebrate to exotic transfercivil offenses. It extends to the whole ofIndia. 1 FEMA, which replacedForeign Exchange Regulation Act(FERA), had become the need of the hour since FERA had become incommensurable with the pro-liberalisation policies of theGovernment of India. FEMA has brought a new counseling regime of Foreign Exchange invariable with the emerging framework of theWorld Trade Organisation(WTO). It is another matter that the depicting of FEMA also brought with it thePrevention of Money launder Act2002, which came into effect from 1 July 2005. strange other laws whereeverything is permitted unless specifically prohibited, under this acteverything was prohibited unless specifically permitted.Hence the tenor and notation of the Act was very drastic. It required irons even for minor offences. Under FERAa person was presumed guilty unless he proved himself innocent, whereas under other lawsa person is presumed innocent unless he is proven guilty. limithide * 1Switch from FERA * 2 get hold of for its way * 3Main Features * 4References * 5External links - editSwitch from FERA The done in 1974, a period when Indias conflicting deputise reserve beat wasnt at its best. A new control in place to change this position was the need of the hour.FERA did not stick with in restricting activities, especially the elaborateness of TNCs (Transnational Corporations). The concessions made to FERA in 1991-1993 showed that FERA was on the wand of becoming redundant. 2After the amendment of FERA in 1993, it was unyielding that the act would become the FEMA. This was done in order to relax the controls on alien exchange in India, as a result ofeconomic liberalization. FEMA served to make proceeding for external trade ( tradesandimports) easier transactions involving on-going account for external trade no longer required RBIs authority.The deals in Foreign Exchange were to be managed instead of regulated. The switch to FEMA shows the change on the part of the government in terms of forei gn capital. 3 - editNeed for its management The purchase and selling of foreigncurrencyand other debt instruments by businesses, individuals and governments happens in theforeign exchange market. Apart from being very competitive, this market is also the largest and most liquid market in the world as wholesome as inIndia. 4It constantly undergoes changes and innovations, which can either be beneficial to a country or expose them to greatrisks. The management of foreign exchange market becomes necessary in order to subside and avoid the risks. Central bankswould work towards an refined functioning of the transactions which can also develop their foreign exchange market. 5 Whether under FERA or FEMAs control, the need for the management of foreign exchange is important. It is necessary to keep adequate amount of foreign exchange reserves, especially when India has to go in for imports of certain goods.By maintaining sufficient reserves, Indias foreign exchange policy marked a te ddy from Import Substitution to Export Promotion. 6 - editMain Features Activities such as payments made to any person outside India or receipts from them, along with the deals in foreign exchange and foreign auspices is qualified. It is FEMA that gives the central government the power to impose the restrictions. Restrictions are imposed on people living in India who carry out transactions in foreign exchange, foreign security or who own or hold immovable property abroad. Without general or specific permission of theReserve Bank of India, FEMA restricts the transactions involving foreign exchange or foreign security and payments from outside the country to India the transactions should be made only through an empower person. Deals in foreign exchange under thecurrent accountby an authorized person can be restricted by the Central Government, based on public interest. Although selling or skeleton of foreign exchange is done through an authorised person, the RBI is empowered by this Act to subject thecapital accounttransactions to a number of restrictions. raft living in India will be permitted to carry out transactions in foreign exchange, foreign security or to own or holdimmovable propertyabroad if the currency, security or property was owned or acquired when he/she was living outside India, or when it was ancestral to him/her by someone living outside India. Exporters are needed to furnish their export details to RBI. To ensure that the transactions are carried out properly, RBI may await the exporters to comply to its necessary requirements. 7