The Path to a Greener Future: Understanding Sustainable Development In an era where environmental challenges and resource depletion are becoming increasingly evident, the concept of sustainable development has gained significant importance. Sustainable development aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. This blog post will explore the principles, goals, and strategies of sustainable development, highlighting its critical role in ensuring a balanced and healthy future for our planet. "Transforming our world: The path to sustainable development." What is Sustainable Development? Sustainable development is a holistic approach that integrates economic growth, environmental protection, and social equity. It seeks to create a harmonious relationship between human activities and the natural world, ensuring that resources are used efficiently and responsibly. Definition: The most widely recognized de...
Introduction:
Prior to 1872, business/mercantile transactions were regulated by the law of the parties to the suit (i.e. Hindu law, Mohammedan law). In 1872, the first attempt is made to codify and establish uniform principle of business law when the Indian Contract Act, 1872 was enacted. Since, then various Acts have been enacted to regulate various business transactions.
The Contract Act came into force with effect from September 1, 1872. It is applicable to the whole of India except the State of Jammu & Kashmir. The Act as enacted originally had 266 Section divided into following groups:
General Principle of law of Contract Sections 1 to 75.
Contracts relating to Sales of Goods Section 76 to 124*
Special kinds of Contracts Section 125 to 238
(For example indemnity, guarantee, bailment & pledge)
Contracts relating to Partnership Section 239 to 266*
*These sections were repealed from the Contract Act 1872 and two new Acts were enacted for the same:
1. Sale of Goods Act, 1930
2. Partnership Act 1932
After India’s Independence in 1947, the constitution of India was framed and adopted by the constituent Assembly. Hence, constitution of India can be stated as the major basis for the enactment modification or cancellation of various laws in Independent India.
Sources of India Mercantile law:
The main sources of law in independent India are:
1. English mercantile law: The Indian mercantile law is merely an adaption of English mercantile law. However, certain modifications whenever necessary have been incorporated in it to provide for local customs and usages of trade and suit Indian conditions.
2. Acts enacted by the Indian legislatures: The following Acts enacted by the Indian legislature from time to time are important for the study of Indian Mercantile Law:
i) The Indian Contract Act 1872
ii) The Sale of Goods Act 1930
iii) The Consumer Protection Act 1986
iv) The Copy Right Act 1957
v) The Patent Act 1970
vi) The Trade mark Act 1999
vii) Information technology Act 2000
viii) Environmental Protection Act 1986
3. Judicial decisions: Judges interpret and explain the Statue. Prior to Independence the Privy Council of Great Britain was the final court of appeal and its decision was binding on Indian Courts. After Independence, the Supreme Court of India is the final Court of Appeal. But even then, the decision of English Courts such as Privy Council and House of Lord are frequently referred to as Precedents in deciding certain cases and in interpreting Indian Statue.
4. Customs and trade usage: Most of the Indian Laws are codified. But even then, it has not altogether done away with customs and usages. Many Indian Statues make specific provisions to the effect that the rules of law laid down in a particular Act are subject to any special custom or usage of trade.
Prior to 1872, business/mercantile transactions were regulated by the law of the parties to the suit (i.e. Hindu law, Mohammedan law). In 1872, the first attempt is made to codify and establish uniform principle of business law when the Indian Contract Act, 1872 was enacted. Since, then various Acts have been enacted to regulate various business transactions.
The Contract Act came into force with effect from September 1, 1872. It is applicable to the whole of India except the State of Jammu & Kashmir. The Act as enacted originally had 266 Section divided into following groups:
General Principle of law of Contract Sections 1 to 75.
Contracts relating to Sales of Goods Section 76 to 124*
Special kinds of Contracts Section 125 to 238
(For example indemnity, guarantee, bailment & pledge)
Contracts relating to Partnership Section 239 to 266*
*These sections were repealed from the Contract Act 1872 and two new Acts were enacted for the same:
1. Sale of Goods Act, 1930
2. Partnership Act 1932
After India’s Independence in 1947, the constitution of India was framed and adopted by the constituent Assembly. Hence, constitution of India can be stated as the major basis for the enactment modification or cancellation of various laws in Independent India.
Sources of India Mercantile law:
The main sources of law in independent India are:
1. English mercantile law: The Indian mercantile law is merely an adaption of English mercantile law. However, certain modifications whenever necessary have been incorporated in it to provide for local customs and usages of trade and suit Indian conditions.
2. Acts enacted by the Indian legislatures: The following Acts enacted by the Indian legislature from time to time are important for the study of Indian Mercantile Law:
i) The Indian Contract Act 1872
ii) The Sale of Goods Act 1930
iii) The Consumer Protection Act 1986
iv) The Copy Right Act 1957
v) The Patent Act 1970
vi) The Trade mark Act 1999
vii) Information technology Act 2000
viii) Environmental Protection Act 1986
3. Judicial decisions: Judges interpret and explain the Statue. Prior to Independence the Privy Council of Great Britain was the final court of appeal and its decision was binding on Indian Courts. After Independence, the Supreme Court of India is the final Court of Appeal. But even then, the decision of English Courts such as Privy Council and House of Lord are frequently referred to as Precedents in deciding certain cases and in interpreting Indian Statue.
4. Customs and trade usage: Most of the Indian Laws are codified. But even then, it has not altogether done away with customs and usages. Many Indian Statues make specific provisions to the effect that the rules of law laid down in a particular Act are subject to any special custom or usage of trade.
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