1. Legal Environment of Business - Module 1MBA - MG University 2. Prepared ByManu Melwin JoyAssistant ProfessorIlahia School of Management StudiesKerala, India.Phone 9744551114Mail email@example.comKindly restrict the use of slides for personal purpose.Please seek permission to reproduce the same in public forms and presentations. 3. Contents1. Definition of law.2. Characteristics of law.3. Sources of law.4. Interpretation of law.5. Classification of law.6. Principles of natural justice.7. History of Indian judicial system.8. Structure of Indian judicial system. 4. Definition of lawAccording to Holland,Law is a rule of externalhuman action enforcedby a sovereign politicalauthority. 5. Elements/Characteristics of lawThis definition states that,following elements should beavailable in a law A body of rules. External acts of human beinggoverned by rules. A sovereign political authorityenforcing rules. 6. Sources of LawEnglish Law JudicialDecisionsCustomsand usageIndianStatuteEnglishcommon LawEquity Law Merchant Statute law 7. Interpretation of lawThe process by which thecourts of law try to ascertainor understand the meaningof the legislation through thewording of enactment istechnically calledinterpretation. 8. Rules of interpretation Literal rule of interpretation. Golden rule of interpretation. Mischief rule of interpretation. Rule of Ejusdem Generis. 9. Classification of Laws1. Pubic and Private Law.2. Civil and Criminal Law.3. National and International Law.4. Statute and Common Law.5. General and Special Law.6. Natural and physical Law. 10. Introduction PNJ were derived from theRomans who believed thatsome legal principles werenatural or self evidentand did not require astatutory basis. PNJ is embedded in Article311 of the Constitution ofIndia. 11. Principles of Natural Justice1. Rule against Bias2. Rules for the fairhearing.3. Reasoned decision. 12. HistoryMaharajas - Hindu LawsMughal Emperors - Islam Laws + HLBritish Empire English Common Law + HL + ILPresent - Constitution 13. Indian Judicial System Supreme Courts High Courts Subordinate courts 14. 1. Definition of law.2. Characteristics of law.3. Sources of law.4. Interpretation of law.5. Classification of law.6. Principles of natural justice.7. History of Indian judicial system.8. Structure of Indian judicial system.