- Business Law Tutorial
- Business Law - Home
- Business Law - Company Law
- Principle of Separate Legal Existence
- Business Law - The Corporate Veil
- Liabilities & Rights of Promoters
- Memorandum Association Concepts
- Business Law - Articles of Association
- Business Law - Shares
- Business Law - Directors
- Winding Up of a Company
- Business Law - Company Meetings
- Business Law - Various Laws and Acts
- Business Law - Law of Contract Act
- Business Law - Law of Sale of Goods
- Business Law - Law of Arbitration
- Law of Carriage of Goods
- Consumer Protection Act
- Industrial Disputes Act
- Business Law - Factories Act
- Business Law Useful Resources
- Business Law - Quick Guide
- Business Law - Useful Resources
- Business Law - Discussion
- Selected Reading
- UPSC IAS Exams Notes
- Developer's Best Practices
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Business Law - Various Laws and Acts
Laws can be defined as a set of guidelines and rules, which must be followed by every business entity to carry out smooth, just and legal business. Any violation in the law is treated as an offence to the Indian constitution. A huge number of laws and Acts were passed in the Indian history in the field of business. Still new laws are being made according to the market scenarios. Many laws have also been removed as and when required.
The law also provides certain rights and privileges to certain groups or ranks of people.
Since the creation of the constitution, various Acts were made.
These acts may contain hundreds of sections.
The sections are again subdivided into various parts or articles.
Although the laws are considered to be rigid and strict, corrections, termed as amendments, can be made to rectify a certain law for a specific amount of time.
Any default or offence committed against the laws may be punishable by the Court of Law.
Depending on the intensity of the offence, the punishment may vary from a penalty of few thousand Rupees to imprisonment for several months.
All the companies must respect and maintain the integrity of the law.