Notes, summaries, assignments, exams, and problems for Law & Jurisprudence

CHAPTER 1

• Criminal justice system: comprises institutions, policies, and practices with the goal of social control and deterring crime through sanctions and rehabilitation

• Law enforcement: investigates crimes and apprehends individuals alleged to have committed crimes

• Courts: interprets and applies the law

• Corrections: incarceration in jails or prisons, in some cases consisting of supervision in the community, parole, or probation.

• If prosecutor files charges: plea bargain and a plea is taken, or goes to trial, or nolle prosequi (dismissal).

• Mala en se: behavior that is immoral and inherently wrong by nature and we would have known not to do this activity even if there had not been a law prohibiting it.

• Mala prohibita: behavior that constitutes an

1. Final call of ₹3 per share was yet to be made. Calculate the maximum discount at which these shares can be reissued. X Ltd. invited applications for 500, 12% debentures of ₹100 each at a 5% discount. These debentures were redeemable after five years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all applications. Pass necessary journal entries for the debenture issue, assuming the whole amount was payable with application. P and Q, partners sharing profits and losses equally, had fixed capitals of ₹2,00,000 and ₹3,00,000, respectively. The partnership deed provided 12% p.a. interest on capital. For the year ended March 31, 2016, profits were distributed without providing interest on capital. Pass

MUST: I´m sure, I´m certain, is obligated to, essential that, it´s compulsory, needs, needs to be, it´s necessary for, rule.   CAN´T:I´m not sure, I´m not certain.   MAY,MIGHT,COULD:perhaps, maybe, it´s possible.    MUSTN´T:I´ts fobiden that, not permited,allowed, dangerous.   CAN:I´m good at.    COULD: when I was, ability.   HAVE TO:Is obliged to, It´s essential that, It´s compulsory.    SHALL:I suggest,why not.   SHOULD:It is better, If I were you, I advice you,I was you,It is a good idea,shouldn´t, it is a good idea.    DON´T HAVE TO DOESN´T:It isn´t necessary.  HAD TO:was necessary.   DIDN´T HAVE TO:wasn´t necessary.   BE ABLE TO:in the future,next.  

A New Society: Industrial Society and Social Classes

Industrial society was divided into three social classes: the upper class with the aristocracy and the high bourgeoisie, the middle class, and the lower class. Social class was defined by wealth, and while some could move between classes, economic circumstances often made it impossible. Industrial society was based on judicial equality, with men judged by the same laws and courts. However, there was a great inequality for women, who were subordinate to men. Economic inequality separated those who had property and financial resources.

The Decline of the Aristocracy

In the nineteenth century, the aristocracy lost dominance as their rights over the peasants were abolished and they began to pay... Continue reading "The Transformation of Industrial Society: Social Classes, Aristocracy Decline, and Rise of the Bourgeoisie" »

What is the Certificate of Origin?

It certifies the product origin on their raw material. It's useful to obtain international trade agreement benefits in the country of destination.

Purpose of the Economic Inconvenience Clause

Summarizes the operation of export or import, specifying the costs incurred and the time it takes to occur.

Why Aren't 100% Risky Events Insured?

There isn't 100% risky events insured because an insurer doesn't want to pay for an insurance knowing that the risk is very high. The buyer of the cargo is responsible for buying or transporting the merchandise taking into account the risks not covered by the insurer.

Three Important Functions Covered by the Incoterms

Determine the moment of risk transference between seller and buyer,... Continue reading "Understanding International Trade: Certificate of Origin and Incoterms" »

Daimler v Continental Tyre 1916 HOL

Continental Tyre & Rubber Company was incorporated in England, but the holders of all its shares except 1, and also all the directions, were Germans, residing in Germany. The secretary was English. Continental Tyre & Rubber Co Ltd supplied tyres to Daimler, but Dailmer was concerned that making payment might contravene a CL offence of trading with the enemy as well as proclamation issued under S1(2) Trading with the Enemy Act 1914. After the outbreak of the First World War, Continental Tyre company brought an action against Daimler Co Ltd to recover trade dept. The HOL half the thought the Continental Tyre Company was incorporated in England, its effective control was in the hands of Germans, and therefore,... Continue reading "Corporate Veil: Legal Cases and Implications" »

Gift: An Overview

1. Introduction

A gift is the voluntary transfer of existing movable or immovable property from one person (the donor) to another (the donee) without any consideration. Gifts can be revoked under certain circumstances.

2. Relevant Provisions

Sections 122 and 123 of the Transfer of Property Act govern the transfer of property through gifts.

3. Definition of Gift

A gift is the voluntary and gratuitous transfer of existing movable or immovable property from a donor to a donee, who accepts the gift or has it accepted on their behalf.

4. Essentials of a Valid Gift

1. Parties: Donor and donee
2. Subject Matter: Movable or immovable property
3. Existing Property: Property must exist at the time of the gift
4. Consideration: No consideration should be involved
5. Voluntarily:

Mortgage

Definition of Mortgage:

A mortgage is security for the payment of debt. It is created by a written document providing security for the performance of a duty or the payment of debt. More specifically, a mortgage is the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to pecuniary liability.

Key Terms:

• Mortgagor: The transferor (borrower) is called the mortgagor.
• Mortgagee: The transferee (lender) is called the mortgagee.
• Mortgage Money: The principal money and interest secured for payment is called mortgage money.
• Mortgage Deed: The instrument by which the transfer is effected is

Power of Attorney

In today's fast-paced world, our activities and engagements have increased significantly. As individuals become busier, the need to rely on others for assistance has grown. Consequently, the importance of a Power of Attorney has become increasingly apparent.

Definition

A Power of Attorney is a legal instrument that authorizes a specified person to act on behalf of another person, known as the principal.

Types of Power of Attorney

There are several types of Power of Attorney:

• General Power of Attorney

  A General Power of Attorney grants the agent broad authority to perform various acts or exercise all powers that the principal could exercise regarding specific property or matters.

• Special Power of Attorney

  A Special Power of Attorney