DBB2101 LEGAL AND REGULATORY FRAMEWORK FEB MAR 2025

Description

SESSION	FEB- MAR, 2025
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	III
COURSE CODE & NAME	DBB2101 LEGAL AND REGULATORY FRAMEWORK

 

 

Assignment Set – 1

 

 

Q1 Define a company. What are the different kinds of meetings of the shareholders of a company? 2+8

Ans 1.

Definition of a Company

A company is an artificial legal person created by law, having a separate legal identity, perpetual succession, and a common seal. It is formed under the Companies Act, 2013 in India. The company has the ability to own property, enter into contracts, sue and be sued in its own name. Unlike a partnership or sole proprietorship, a company’s identity is distinct from its shareholders or members, and their liability is limited to the extent of their shareholding.

Kinds of Shareholders’ Meetings

Meetings of shareholders are essential for the governance of a company and for making key decisions. These meetings ensure transparency and provide a platform for shareholders to

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Q2 Define a Contract. What are the essentials of a contract? Discuss. 2+8

Ans 2.

Definition of a Contract

A contract is a legally enforceable agreement between two or more parties that creates mutual obligations. According to Section 2(h) of the Indian Contract Act, 1872, “a contract is an agreement enforceable by law.” This means that not all agreements are contracts—only those that fulfill the legal criteria become binding and enforceable in a court of law.

Essentials of a Valid Contract

For an agreement to become a valid contract under the Indian Contract Act, 1872, the following

 

 

Q3 What do you understand by intellectual property rights? Explain its types in detail. 2+8

Ans 3.

Meaning of Intellectual Property Rights (IPRs)

Intellectual Property Rights (IPRs) are legal rights granted to individuals or organizations over the creations of their minds. These creations may include inventions, literary and artistic works, designs, symbols, names, and images used in commerce. IPRs aim to protect the intellectual efforts and creativity of inventors and creators by providing them exclusive rights over the use of their intellectual assets for a certain period. This protection encourages innovation, fosters

 

 

Assignment Set – 2

 

 

Q4 Discuss Environment Protection Act 1986. How is it relevant in the modern business world?5+5

Ans 4.

Overview of the Environment Protection Act, 1986

The Environment Protection Act, 1986 was enacted by the Government of India in the aftermath of the Bhopal Gas Tragedy. It serves as a comprehensive framework for the protection and improvement of the environment. The Act empowers the central government to take measures to protect and improve environmental quality, control and reduce pollution, and ensure the sustainable use of natural resources.

The Act defines “environment” broadly to include water, air, land, and the interrelationship

 

Q5 Discuss the main areas of focus of the Factories Act, 1948. 10         

Ans 5.

Introduction to the Factories Act, 1948

The Factories Act, 1948 is a social welfare legislation enacted by the Government of India to regulate the working conditions in factories. The primary aim of the Act is to ensure the health, safety, and welfare of workers, while promoting effective and fair labor practices. It applies to any premises where ten or more workers are employed with the use of power, or twenty or more workers without the use of power.

Key Focus Areas of the Act

1. Health of Workers

The Act includes various provisions to ensure hygienic and safe conditions in factories. These

 

 

Q6 Define consumer. Explain the consumer redressal agencies in detail. 2+8

Ans 6.

Definition of a Consumer

According to Section 2(7) of the Consumer Protection Act, 2019, a consumer is a person who buys any goods or hires or avails any service for a consideration, which has been paid, promised, or partly paid and partly promised. The definition also includes any user of such goods or services with the approval of the buyer. A person is not considered a consumer if goods or services are obtained for resale or commercial purposes, with some exceptions (like self-