The digital and creative spheres are governed by laws pertaining to Information technology (IT) and Intellectual property (IP), which guarantee the safety of data, software, and innovations. They create frameworks for data security, electronic transaction management, and the protection of intellectual property rights, including patents, software, and artwork. Trade-Related Aspects of Intellectual Property Rights (TRIPS) … Read more
The process by which people, groups, and companies make sure they abide by laws, rules, standards, and moral behavior pertinent to their sector and jurisdiction is known as Legal and Regulatory compliance. By complying, one can reduce risks, stay out of trouble with the law, and uphold one’s reputation for honesty and responsibility. Basic Features … Read more
Arbitration is a process of disputes settlement by neutral third party who decides the issues after hearing both sides in a quasi-judicial manner. It is a means of dispute settlement between the parties, where an Arbitrator gives his decision after hearing the disputing parties as neutral as the judge of the general court of law. … Read more
A Company Corporation is a legally recognized organization created by stakeholders, shareholders, or individuals to carry out business operations. Company Corporation can own assets, incur liabilities, and enter into contracts on its own because it is a distinct legal entity from its owners. By offering shareholders limited liability, corporations shield their private assets from business … Read more
A legal arrangement known as Agency occurs when one party, referred to as the principal, gives another party, referred to as the agent, permission to act on their behalf in order to establish legal relationships with third parties. Under this arrangement, the agent can act as the principal’s representative in a variety of situations, including … Read more
The term Sale of Goods describes a transaction in which a seller gives a buyer ownership of goods in return for payment or other consideration. The Sale of Goods Act, 1930, which specifies the rights and responsibilities of buyers and sellers to guarantee equitable and open transactions, governs this transaction. Meaning of Sale of Goods … Read more
When the owner of goods (the bailor) gives them to another party (the bailee) for a specific purpose, with the understanding that the goods will be returned or otherwise disposed of once the purpose has been completed, this is referred to as Bailment. As security for a debt or obligation, the bailor (the pledgor) delivers … Read more
Background of Nepali Contract Law Definition of Contract Features Essential Elements of Valid Contract An agreement becomes enforceable by law when all the essential elements of a valid contract are present. Thus, absence of any of the above said elements is adequate to make the contract invalid. Plurality of Parties There must be at least … Read more
In order to interpret and enforce laws, settle conflicts, and maintain justice, Court system is a hierarchical structure of judicial institutions. In order to uphold the rule of law and guarantee equitable treatment under legal frameworks, it is essential. Court Courts are institutions established by law to solve legal dispute impartially after followed the procedures … Read more
The framework of laws, rules, and legal systems that affect businesses and make sure they function morally and within the law is known as the legal environment. It covers topics like consumer protection, employment law, contracts, and environmental regulations. A subset of the legal environment, Business law is concerned with the laws and rules that … Read more