LEGAL SYSTEM FOR BUSINESS MODULE f f f f f
-1 f
MEANING OF LAW f f
A system of rules and regulations which a country or society recognizes as binding on its
f f f f f f f f f f f f f f f
citizens, which the authorities may enforce, and violation of which attracts punitive ac
f f f f f f f f f f f f f
tion.
DEFINITION OF LAW f f
In the words of Salmond, Law is the body of principles recognised and applied by the sta
f f f f f f f f f f f f f f f f
te in the administration of justice.
f f f f f
ETHICS AND LAW f f
Ethics is the minimum standards of appropriate conduct within the legal professi
f f f f f f f f f f f
on. It is the behavioral norms and morals which govern judges and lawyers. It invo
f f f f f f f f f f f f f f
lves duties that the members owe one another, their clients, and the courts. Resp
f f f f f f f f f f f f f
ect of client confidences, candor toward the tribunal, truthfulness in statements t
f f f f f f f f f f f
o others, and professional independence are some of the defining features of leg
f f f f f f f f f f f f
al ethics. Legal ethics can also refer to the study or observance of those duties or t
f f f f f f f f f f f f f f f f
he written regulations governing those duties.
f f f f f
Law is a system of rules created and enforced through social or governmental ins
f f f f f f f f f f f f f
titutions to regulate behavior with its precise definition a matter of longstanding de
f f f f f f f f f f f f
bate.
,SOURCES OF LAW f f
• Customs
• Religion & morality f f
• Judicial precedents f
• Equity
• Scientific commentaries f
• Legislation
1) Customs is an established mode of social behavior within a
f f f f f f f f f
community. It is one of the main and oldest sources of law in India. Accordi
f f f f f f f f f f f f f f
ng to Roscoe Pound, customary regulations comprises:
f f f f f f
• Law formulated by customs of famous motion
f f f f f f
• Law formulated through judicial choice
f f f f
• Law formulated with the aid of doctrinal writings and clinical dis
f f f f f f f f f f
cussions for legal standards f f f
• Ingredients of customs as one of the sources of law in India:
f f f f f f f f f f f
, • Antiquity
• Continuous
• Obligatory in nature f f
• Consistency
• Reasonability
• Peaceful Enjoyment f
• Certainty
2) Religion and morality f f
In ancient times, human beings started to observe and enjoy the nat
f f f f f f f f f f f
ural powers. This has contributed to the rise of religion and
f f f f f f f f f f
religious norms in culture. Faith began to control people's actions. Ind
f f f f f f f f f f
ividuals have been compelled to accept moral rules through the fear of
f f f f f f f f f f f
fthe Gods. Religions also formulated and prescribed code of
f f f f f f f f
conduct. Rules of morality have evolved to describe what was good or righ
f f f f f f f f f f f f
t and what was evil or bad. The governments turned certain
f f f f f f f f f f
spiritual and religious rules into its law. f f f f f f
3) Judicial Precedents f
Judicial Precedents lays on the doctrine ‘stare decisis’, it simply
f f f f f f f f f
means adhering and relying on earlier decisions made by the courts; i.e.,
f f f f f f f f f f f
ffor instance if high court decides on a particular case and a
f f f f f f f f f f f
similar situation comes to the lower court, the lower court will treat
f f f f f f f f f f f
the case alike and pass the judgement same as done by the high court. Th
f f f f f f f f f f f f f f
is is because the high court has set a precedent for the lower court and th
f f f f f f f f f f f f f f f
e lower court are bound to follow it.
f f f f f f f
4) Equity
In the words of Sir Henry Maine, Equity is “anybody of rules existing by
f f f f f f f f f f f f f f
the side of the original civil law, founded on distinct principles
f f f f f f f f f f
and claiming incidentally to supersede the civil law in virtue of a
f f f f f f f f f f f
, superior sanctity inherent in those principles”. It is an “informal metho
f f f f f f f f f f
d of making of new law or altering old law, depending on intrinsic fairne
f f f f f f f f f f f f f
ss or equality of treatment”.
f f f f
5) Scieintific commentaries f
A scientific commentator, “by collecting, comparing and logically arra
f f f f f f f f
nging legal principles, customs, decisions and laws lays down guiding
f f f f f f f f f f
principles for possible cases. He shows the omission and deduces princ
f f f f f f f f f f
iples to govern them. He provides the basis for new law, not the new law
f f f f f f f f f f f f f f f
itself.
6) Legislation
The term ‘Legislation’ is derived from the Latin words ‘Legis’
f f f f f f f f f
meaning regulation and ‘latum’ which means making. The legislation is
f f f f f f f f f f
considered as a primary source of law in India, legislation has a wide am f f f f f f f f f f f f f
bit and it is used to regulate, authorize, to enable, to provide funds, to pr
f f f f f f f f f f f f f f
escribe, to sanction, grant, declare or to restrict. The
f f f f f f f f
legislature is framed by the parliament in the form of new acts, new laws f f f f f f f f f f f f f
, repeal and amendment of old laws. The procedure for this is prescribed
f f f f f f f f f f f f
fin the constitution of India.
f f f f
So legislation as one of the sources of law is further devided into two parts :
f f f f f f f f f f f f f f f
Supreme legislation: It is the parent law that originates from the soverei
f f f f f f f f f f f
gn strength of the nation. It cannot be repealed, annulled or managed by
f f f f f f f f f f f f f
other legislative authority. f f
Subordinate Legislation: The subordinate legislation are dependent on f f f f f f f
the supreme legislation for their validity and existence.
f f f f f f f f
-1 f
MEANING OF LAW f f
A system of rules and regulations which a country or society recognizes as binding on its
f f f f f f f f f f f f f f f
citizens, which the authorities may enforce, and violation of which attracts punitive ac
f f f f f f f f f f f f f
tion.
DEFINITION OF LAW f f
In the words of Salmond, Law is the body of principles recognised and applied by the sta
f f f f f f f f f f f f f f f f
te in the administration of justice.
f f f f f
ETHICS AND LAW f f
Ethics is the minimum standards of appropriate conduct within the legal professi
f f f f f f f f f f f
on. It is the behavioral norms and morals which govern judges and lawyers. It invo
f f f f f f f f f f f f f f
lves duties that the members owe one another, their clients, and the courts. Resp
f f f f f f f f f f f f f
ect of client confidences, candor toward the tribunal, truthfulness in statements t
f f f f f f f f f f f
o others, and professional independence are some of the defining features of leg
f f f f f f f f f f f f
al ethics. Legal ethics can also refer to the study or observance of those duties or t
f f f f f f f f f f f f f f f f
he written regulations governing those duties.
f f f f f
Law is a system of rules created and enforced through social or governmental ins
f f f f f f f f f f f f f
titutions to regulate behavior with its precise definition a matter of longstanding de
f f f f f f f f f f f f
bate.
,SOURCES OF LAW f f
• Customs
• Religion & morality f f
• Judicial precedents f
• Equity
• Scientific commentaries f
• Legislation
1) Customs is an established mode of social behavior within a
f f f f f f f f f
community. It is one of the main and oldest sources of law in India. Accordi
f f f f f f f f f f f f f f
ng to Roscoe Pound, customary regulations comprises:
f f f f f f
• Law formulated by customs of famous motion
f f f f f f
• Law formulated through judicial choice
f f f f
• Law formulated with the aid of doctrinal writings and clinical dis
f f f f f f f f f f
cussions for legal standards f f f
• Ingredients of customs as one of the sources of law in India:
f f f f f f f f f f f
, • Antiquity
• Continuous
• Obligatory in nature f f
• Consistency
• Reasonability
• Peaceful Enjoyment f
• Certainty
2) Religion and morality f f
In ancient times, human beings started to observe and enjoy the nat
f f f f f f f f f f f
ural powers. This has contributed to the rise of religion and
f f f f f f f f f f
religious norms in culture. Faith began to control people's actions. Ind
f f f f f f f f f f
ividuals have been compelled to accept moral rules through the fear of
f f f f f f f f f f f
fthe Gods. Religions also formulated and prescribed code of
f f f f f f f f
conduct. Rules of morality have evolved to describe what was good or righ
f f f f f f f f f f f f
t and what was evil or bad. The governments turned certain
f f f f f f f f f f
spiritual and religious rules into its law. f f f f f f
3) Judicial Precedents f
Judicial Precedents lays on the doctrine ‘stare decisis’, it simply
f f f f f f f f f
means adhering and relying on earlier decisions made by the courts; i.e.,
f f f f f f f f f f f
ffor instance if high court decides on a particular case and a
f f f f f f f f f f f
similar situation comes to the lower court, the lower court will treat
f f f f f f f f f f f
the case alike and pass the judgement same as done by the high court. Th
f f f f f f f f f f f f f f
is is because the high court has set a precedent for the lower court and th
f f f f f f f f f f f f f f f
e lower court are bound to follow it.
f f f f f f f
4) Equity
In the words of Sir Henry Maine, Equity is “anybody of rules existing by
f f f f f f f f f f f f f f
the side of the original civil law, founded on distinct principles
f f f f f f f f f f
and claiming incidentally to supersede the civil law in virtue of a
f f f f f f f f f f f
, superior sanctity inherent in those principles”. It is an “informal metho
f f f f f f f f f f
d of making of new law or altering old law, depending on intrinsic fairne
f f f f f f f f f f f f f
ss or equality of treatment”.
f f f f
5) Scieintific commentaries f
A scientific commentator, “by collecting, comparing and logically arra
f f f f f f f f
nging legal principles, customs, decisions and laws lays down guiding
f f f f f f f f f f
principles for possible cases. He shows the omission and deduces princ
f f f f f f f f f f
iples to govern them. He provides the basis for new law, not the new law
f f f f f f f f f f f f f f f
itself.
6) Legislation
The term ‘Legislation’ is derived from the Latin words ‘Legis’
f f f f f f f f f
meaning regulation and ‘latum’ which means making. The legislation is
f f f f f f f f f f
considered as a primary source of law in India, legislation has a wide am f f f f f f f f f f f f f
bit and it is used to regulate, authorize, to enable, to provide funds, to pr
f f f f f f f f f f f f f f
escribe, to sanction, grant, declare or to restrict. The
f f f f f f f f
legislature is framed by the parliament in the form of new acts, new laws f f f f f f f f f f f f f
, repeal and amendment of old laws. The procedure for this is prescribed
f f f f f f f f f f f f
fin the constitution of India.
f f f f
So legislation as one of the sources of law is further devided into two parts :
f f f f f f f f f f f f f f f
Supreme legislation: It is the parent law that originates from the soverei
f f f f f f f f f f f
gn strength of the nation. It cannot be repealed, annulled or managed by
f f f f f f f f f f f f f
other legislative authority. f f
Subordinate Legislation: The subordinate legislation are dependent on f f f f f f f
the supreme legislation for their validity and existence.
f f f f f f f f
