A finder of lost goods is a person who discovers and takes possession of items that do not belong to them but appear to have been lost or misplaced by their rightful owner. The role of a finder is significant in balancing personal responsibility with legal and ethical considerations. Laws regarding the rights and duties … Read more
Caveat Emptor (Let the Buyer Beware) The Latin term “Caveat Emptor” means “let the buyer beware.” It is a principle of commerce where the buyer is responsible for assessing the quality and suitability of a product before purchasing it. Concept: This doctrine emphasizes that the seller is not obligated to disclose all the details about … Read more
Transfer of ownership refers to the process by which the legal ownership of goods passes from the seller to the buyer. It determines who holds the title to the goods and who bears the risk associated with them. Once ownership is transferred, the buyer becomes the owner and assumes responsibility for the goods, including risks … Read more
Condition A condition is an important part of a contract. It is something essential for the contract to work properly. If the condition is not followed, the other person can cancel the contract and ask for compensation. For example, if someone buys a car and the condition is that it should be brand new, but … Read more
The court system of Nepal is made up of different levels of courts to provide justice. The highest court is the Supreme Court, which handles important cases and appeals from lower courts. Below it are the High Courts, which review decisions made by District Courts in different regions. District Courts are where most cases, like … Read more
Business Laws is a set of rules that help businesses operate fairly and legally. It covers things like contracts, sales, property, and how businesses work with customers, employees, and other businesses. Also Business law is important to regulates business operations, protect rights, Encourage fair compensations, risk management and liability, etc. Importance of Business Laws 1. … Read more
A High Court is an important court in a country that handles serious cases and appeals from lower courts. It has the power to make decisions on important legal matters, including issues related to the constitution and people’s rights. The High Court also makes sure that lower courts follow the law properly and can give … Read more
The legal environment refers to the framework of laws, regulations, and court decisions intended to encourage, guide, and control business activities. Some are designed to protect workers, consumers, and communities. Others are designed to regulate the behavior of managers and their subordinates in business and other enterprise. The term ‘ legal environment’ of a business … Read more
Source refers to a place, person, or thing from which something originates or can be obtained. Sources of Business law refers to the authority from which the business law is derived. SOURCES OF BUSINESS LAW a. Legislation or Statutory Law Legislation is the most important and direct source of law. It is made after fulfilling … Read more
Business law is a section of code that is involved in protecting liberties and rights, maintaining orders, resolving disputes, and establishing standards for the business concerns in their dealings with government agencies and individuals. It also regulates the transactions and relations for business organizations. Similarly, it defines the responsibility of the business concerns to know … Read more