Mention the basic features of Industrial Enterprises Act and its contributions in Nepalese industrial development.

Mention the basic features of Industrial Enterprises Act and its contributions in Nepalese industrial development.

The Industrial Enterprises Act serves as a fundamental piece of legislation governing industrial operations in Nepal. It establishes the legal framework necessary for the formation, functioning, and administration of industrial enterprises within the nation. The following outlines the principal features of the Act: Industrial Registration and Licensing The Act mandates that all industrial enterprises must … Read more

What Employment Benefits Must Employers Provide to Employees Under the Labor Act, 2074 B.S.?

What Employment Benefits Must Employers Provide to Employees Under the Labor Act, 2074 B.S.

Employment Benefits encompass a variety of non-wage compensations offered to employees alongside their standard salaries or wages. These benefits aim to improve the overall health, security, and job satisfaction of the workforce. They typically include health insurance, retirement contributions (such as provident funds and gratuities), paid leave (including annual leave, sick leave, and maternity/paternity leave), … Read more

Briefly discuss the major provisions of Labor Act-2074 of Nepal

Briefly discuss the major provisions of Labor Act-2074 of Nepal

The Labor Act of 2074 (2017) in Nepal serves as an extensive legal framework aimed at governing labor relations and safeguarding the rights of employees. The following are its key provisions: Scope and Applicability The Labor Act, 2074 is applicable to all organizations and entities that employ workers, encompassing businesses, industries, both private and public … Read more

What are Legal provisions of Consumer Protection Act, 2075?

What are Legal provisions of Consumer Protection Act, 2075?

The Consumer Protection Act of 2018 (2075), which came into effect in September 2018, serves as the primary legislation in Nepal aimed at safeguarding consumer interests concerning the quality, pricing, and availability of goods and services. This Act was established to rectify the deficiencies found in the Consumer Protection Act of 1998. Key features of … Read more

Discuss important Rights of a Bailor

Discuss important Rights of a Bailor

A bailor is defined as the individual who entrusts goods to another party, known as the bailee, under a bailment agreement for purposes such as safekeeping, transportation, or repair. The bailor maintains ownership of the goods and possesses certain rights under the bailment contract to ensure the protection and proper management of their property. The … Read more

Discuss important duties of a Pledgee

Discuss important duties of a Pledgee

A Pledgee is the entity involved in a pledge agreement that receives goods or assets as collateral for a loan or obligation. The pledgee is entrusted with certain duties to ensure the proper preservation and management of the pledged items. The following outlines the primary duties of a pledgee: Duty to Exercise Due Care for … Read more

Discuss the five ways of Discharging a surety from Contract of Guarantee

Discuss the five ways of Discharging a surety from Contract of Guarantee

A surety involved in a guarantee contract may be released from their obligations under certain conditions. These conditions are designed to safeguard the surety from unjust responsibilities while ensuring that both the creditor and the principal debtor fulfill their duties. The following outlines the primary methods by which a surety can be released from the … Read more

Discuss about Finder of Lost Goods

Discuss about Finder of Lost Goods

The term finder of lost goods designates an individual who comes across and takes possession of items that belong to another individual, without any prior ownership or claim to those items. Legal provisions delineate specific rights and responsibilities for the finder, ensuring that the legitimate owner can recover the items while also safeguarding the interests … Read more

IMPORTANT RIGHTS AND DUTIES OF PLEDGER

IMPORTANT RIGHTS AND DUTIES OF PLEDGER

RIGHTS OF PLEDGER Right to Seek Damages: The Pledger is entitled to seek compensation for any damages resulting from the negligence of the Pledgee. Additionally, the Pledger may claim damages that arise from any unauthorized use of the pledged items. Right to Request Return of Goods: The Pledger has the right to reclaim the pledged … Read more

Surety’s Rights Against Co-Sureties

Surety's Rights Against Co-Sureties

The rights of a surety in relation to co-sureties pertain to the legal safeguards available when multiple sureties are involved in securing the same obligation. These rights are designed to prevent any surety from shouldering more than their equitable share of the debt and to allow them to seek reimbursement or contribution from co-sureties if … Read more