Negotiable Instruments Act and Information Technology Act, 2000 Explained
Negotiable Instruments Act, 1881
The Negotiable Instruments Act, 1881 is the foundational law in India that defines and amends the law relating to promissory notes, bills of exchange, and cheques.
Scope and Features of Negotiable Instruments
Scope
The Act deals primarily with three specific types of instruments (Section 13):
- Promissory Note (Sec. 4)
- Bill of Exchange (Sec. 5)
- Cheque (Sec. 6)
The Act also covers concepts such as maturity, negotiation, endorsement, crossing, presentment, notice of dishonour,
Read MoreWorld Trade Organization Law: Principles, Dispute Resolution, and Key Agreements
Non-Discrimination Principles in WTO Services Trade
Non-discrimination in services under international trade law, specifically within the World Trade Organization (WTO), is governed by two key principles:
- Most-Favored-Nation (MFN) Treatment: Countries must treat all WTO members equally, meaning any favorable treatment given to one member must be extended to all others.
- National Treatment: Foreign services and service providers must be treated no less favorably than domestic ones once they have entered
Company Winding Up, Company Secretary & Board Duties — India
Unit IV: Winding Up and Company Secretary
1. Winding Up — Definition and Meaning
Winding up of a company refers to the legal process of bringing the life of a company to an end. During winding up, all business operations stop, the company’s assets are collected and sold, and the proceeds are used to pay off debts and liabilities. Any remaining amount is distributed among shareholders according to their rights. Winding up is carried out under the supervision of a liquidator who ensures fair settlement
Director Liability, Removal, and Share Capital Concepts in Corporate Law
Personal Liabilities of Company Directors
Directors face personal liabilities under the Companies Act, 2013 (or equivalent corporate statutes), primarily for breaches of fiduciary duties, negligence, fraud, and non-compliance with statutory obligations.
Key Areas of Director Liability
- Breach of Fiduciary Duty: Directors must act honestly in the company’s best interest; dishonest actions lead to personal liability for losses.
- Ultra Vires Acts: Exceeding powers defined in the Memorandum or Articles of
Understanding Legal Systems and Criminal Justice
What is Law?
Law is a set of rules created by a government to control behavior in society. It keeps people safe, resolves conflicts fairly, and protects rights. Breaking a law leads to consequences such as fines or jail. Example: Stopping at a red light prevents accidents.
What is Criminality?
Criminality is the act of breaking the law. These actions harm society as a whole, not just individuals. The government investigates and punishes crimes. Example: Stealing from a store is a crime against the
Read MoreCriminal Sentences: Structure, Consistency, and Res Judicata
Criminal Sentences: Definition and Function
Sentences always end the process. The Law of Criminal Procedure (LECrim) states that sentences are the resolutions that conclude the process and explicitly incorporate the Law.
Judgments are typically issued only in specific cases:
- To resolve an appeal.
- To resolve an appeal (repetition noted in original text).
In all other instances, the court issues orders.
Types of Criminal Sentences
Criminal sentences can have two statements:
- Acquittals: These sentences are