LAW

Ajilal

Law is different to different people.

CITIZEN: set of rules

LEGISLATOR: something created by him.

JUDGE: guiding principles to be applied in making decisions.

Therefore, its difficult to give a single, accurate definition of law.

Code of conduct / Set of rules.

TYPES OF LAW

1. CIVIL LAW

2. CRIMINAL LAW

3. MERCANTILE LAW

4. ADMINISTRATIVE LAW

5. INTERNATIONAL LAW

6. CONSTITUTIONAL LAW

LAW

Includes all the rules and principles which regulate our relations with other individuals and with the state.

Rules of conduct, if recognised by the state and enforced by it on people are termed as law.

ACCORDING TO SALMOND

“ law is the body of principles recognised and applied by the state in the administration of justice.”

Law is not a static.

Law changes to fit the requirements of the society.

OBJECT OF LAW

To establish socio-economic justice and remove the existing imbalance in the socio-economic structure.

“ignorantia juris not excusat” means ignorance of law is no excuse.

MERCANTILE/ COMMERCIAL/ BUSINESS LAW

Mercantile Law:

is that branch of law which governs and regulates trade and commerce.

The aggregate body of those legal rules which are connected with trade , industry and commerce.

It deals with contractual situations and the right and obligations arising out of mercantile transactions between mercantile persons.

Mercantile law is one of important branches of civil law.

SOURCES OF MERCANTILE LAW

1. English Mercantile Law

(a) Common law

(b) Principles of equity- based on equity, justice and good conscience.

Other sources of English Mercantile Law

(a) Law merchant or Maritime usages or Lex Mercatoria

(b) Roman Law

(c) Case law

SOURCES OF MERCANTILE LAW

2. Statue Law – act of Indian legislature

act passed are

Indian Contract Act, 1872.

Negotiable Instrument Act etc

3.Judicial decisions or the system of precedents– past judicial decisions of courts

4. Customs and Usages– guide the courts in deciding disputes arising out of mercantile transactions

ELEMENTS OR CHARACTERISTICS OF LAW

Law is a body of rules

Law is for the guidance or conduct of persons- both human and artificial.

Law is imposed on the members.

Law is enforced by punishment

Law is not static

CLASSIFICATION OF LAW

1. Public Law

2. Private Law/Civil Law

PUBLIC LAW

1. Constitutional Law– determines the nature ofstate and structure of the government

2. International Law

3. Administrative Law– functions, powers of theorgans of the government.

4. Criminal Law – deals with various offences &punishment and their prevention ways

5.Municipal Law– relationship between individualand their organisation within a state.

PRIVATE LAW / CIVIL LAW

1. Law of contract

2. Law of tort

3. Law of property– legal right to use, possess, enjoy & dispose of a thing

4. Family law

5. Mercantile law