Answer 1

The word agency literally means doing something, provide a service or dealing with third person
on behalf of another person, group of person or organization. The entity on whose behalf the
work is done, is called the principle and the entity that represent the principle is called an agent.
An agent legal rights against his principle encompass a range of protection meant to safe guard
the agent interests and welfare throughout their working relationship. These right provide a
foundation for just and equal interaction between the principle and the agent.

1. Right of retainer – An agent entitled to keep all funds owed to him from any amount for
compensation, advances given and cost spent while carrying out the act. Obtained as
compensation for the principle action.
2. Right to Compensation – Upon completion of employment, the agent is entitled to the
agreed upon compensation. He is not entitled to payment for any portion of the act or
transaction that is not completed.
3. Right of Lien - Until the money owed to him for commission, expenses, etc. has been
paid the agent is entitled to keep the good, paper and property whether they are mobile or
immovable.
4. The right to receive compensation for the consequences of legal action: The
representative is obliged to release his agent from all legal consequences of such agent
action taking an authorized action. This clause shields the agent from consequences
arising from action taken while carrying out their obligations.
5. Right to compensation for the consequences of action performed in good faith: If an
agent performed the authorized task in good faith, the principle is obliged to compensate
him against the consequences of this action, If it is damages the right of third party. This
provision can not be invoked if it is a crime.
6. The right to receive compensation for damaged caused by principal s negligence:
Principle is obliged to compensate his agent if the agent caused him injury principal’s
negligence. This highlight the principles obligation to give the agent a secure and
comfortable working environment.
These right essentially make up an all-encompassing framework that aims to strike a balance
between the interest of the principle and the agent, they are essential to creating a just and fruitful
professional partnership because they make it clear what each party can do in the event that there
are disagreements or unfavorable result from their work together.
Answer 2
All contracts are agreements, but all agreements are not contracts reflect a fundamental principle
of contract law. This principle highlights the distinction between a simple agreement and a
legally enforceable contract. To understand this statement, let’s delve in to the essential elements
of a valid contract.
1. Proper offer and acceptance:
i) Offer or proposal- When one person willingly offers to do or not do something as
ordered to get someone else s consent to do or not do something he does a proposal
 thus a recommendation can be to perform a positive action or to refrain from
performing an action.
ii) Acceptance and promise: When the offer or signals his agreement to act the
proposer, he gives his approval to the proposal. Recommendation when accepted
comes the promise. Only the person to whom it is made can accept the offer is done
the persons who makes the proposal is called the promisor and the person who accept
the proposal the proposal is called a promise.
iii) Communication of offer and acceptance: No offer or acceptance shall be deemed
valid unless the relevant party is notified. Communication whether oral or in writing,
will be considered complete only when received by the relevant party.
2. Intention to create a legal relationship: The parties entering into a contract must have a
clear purposeful to enter in to a commonly official legitimate relationship.

3. Understanding of social are domestic nature are not considered to be legally binding in
nature.
4. Case Balfour v. Balfour (1919) – A spouse guaranteed to pay his spouse a family
stipend of 30 pound each month. Afterward they isolated and the spouse fizzled to pay
the sum.
5. Free Consent: Both the offer and the acknowledgement must be made by the concerned
parties of their possess free will assent gotten through restrain, undue deception extortion
and impact is not valid.
6. Capacity to contract: Each individual who has achieved the age of larger part is
competent to contract given he/she is of sound mind and is not precluded from
contracting by any law to which he is subject.
7. Consideration for promise: The definition of agreements clearly states that shared
promise ought to frame thought of each other. The guarantee without thought is not an
agreement and is not considered a contract.
8. Legal protest and thought: The question of the contract and the thought should be legal
and must not be damage any law.
9. Understanding not announced void: The assertion must not have been announced void
beneath the ICA. Assentation in restriction of marriage, legitimate procedures exchange
and wagering agreements have been pronounced void beneath the ICA.
Answer 3
Memorandum of association in accordance with section 2(56) a memorandum of association
shall mean a memorandum of association of a company which has been established or amended
from time to time in order to comply with the previous company law or the act. The foundation
of the company structure is that. The fallowing are set out of section 4 of the memorandum of
association. The content of the memorandum of associations (section 4) include the fallowing –
 Name Clause – A company have any name which is undesirable in opinion of the
Central government. For Example the name cannot be the same or similar to the name of
another exiting company. Finally there must be the word limited liability, if it is public
company or the word private limited liability if it is Limited Liability Company.
 Capital Clause -.It stipulates the amount of the share capital and the term under which is
divided in to share second. This paragraph also specifies how the capital will be divided
into shares and their nominal value.
  Situation Clause – It indicate the state in which the registered office of the company.
 Object Clause – It states separately the main object and the secondary objects or
incidental to the main objects pursued by the company and other objects. It defines the
power of the company, beyond which the company cannot act. Any behavior that goes
beyond the scope the object clause is ultra vires and therefore illegal.
 Liability Clause – It specifies whether the liability of the partners is limited to the
nominal value of the shares or to the extent of the amount guaranteed by the partners or is
unlimited.
 Association and subscription Clause – All the signatories of the protocol make a
declaration according to which they wish to establish a company and they under take to
receive the number of shares mentioned opposite the respective name. Their response is
indicate there, as well as their first name address and professions.
A company’s constitution is its Memorandum of Association (MOA) and any modification to it
must pass a stringent legal procedure. It is a publicity accessible document that is submitted to
regulatory bodies as a component of the incorporation process. Due to its ability to give
transparency and legal compliance in the company’s operations, the Memorandum of agreement
(MOA) is crucial for creditors, Investors, and other stakeholders as well as providing insight into
the company’s goals, structure and limitation.

Answer 4
The act provides for the establishment of the competition Commission of India (CCI) to
implement the provisions of the act. Therefore the Government established CCI. The apex body
under competition Act with effect from 14 October 2003. CCI is selected by a University or
search committee, unlike such as the MRTP committee appointed by the Government. The CCI
is the quasi-judicial arbitration body as well as regulatory body for matters relating to the
competition issues and policies. It is charged with the responsibility of eliminating practices that
have an adverse effect on competition, promoting and supporting competition and protecting the
interest of consumers and ensuring the freedom of trade exercised by its participants other in
India. CCI is the successor of the MRTP committee. It is led by chairman and supported by a
minimum of two and a maximum other members appointed by the central government.
CCI is not only a law enforcement agency but also actively participates in formulating the
country economic policies. It advises the government on competition policy takes appropriate
measure to promote competition and endeavors to raise awareness and provide training on
competition issues. Therefore the objectives of CCI are fallows-
 Antitrust Enforcement – Investigate and take action against anticompetitive practices
including anticompetitive agreement or practices abuse of dominant market position and
anticompetitive mergers and acquisitions activities.
 Market Investigations- Conduct market investigation to examine the stricture and
behavior of the market to determine whether there are characteristics that prevent distort
or limited competition.
 Marker Control Evaluate – Mergers and acquisitions to ensure they do not
significantly reduce competition in the market. The competition commission can
approve, reject or conditionally approve a merger to address competition concerns.
  Cartel Investigation – Investigate and take action against cartel or other form of
collusion among competitors to manipulate or control prices, restrict production or
award markets.
 Abuse of Dominant Position- Prevent and combat abuse of dominant market position
by companies that take unfair advantage of their market power to the detriment of
compete.
 Advocacy and Education – Engage in advocacy and education activities to increase
competitive awareness among businesses, consumer and other stakeholders.
 Consumer Protection- Protect consumer interest by addressing unfair trade practices,
misleading advertising and other activities that may harm consumers on market.
 Compliance and Monitoring- Monitor compliance with competition law and regulation
and take enforcement action where violation and identified.
Finally the competition commission of India performs the roles of an adjudicator, regulator and
counselor on policy with the authority and function to uphold fair competition, safeguard
consumers and assist in the creation of successful economic policies in the nation.
Answer 5
Copyright – In simple word it mean the right to copy it is based on the idea that those who
create or create creative work have the right decide how the express the fruits of their talent,
skill and labor. Copyright intended to protect authors (writers, artists, composers etc.) of their
creation. These creation of often referred to ads the works the exclusive right to reproduce an
original work of authorship fixed in a tangible medium of expression, to prepare derivative work
based on the original work and to perform or exhibit the work within a musical, dramatic
framework, dance, art and literary activities and sculptures.
This happen when the author create to work and the law requires him to register that work with
the government to protect the work, no one can copy that work without the permission of the
creators create. He holder of the copyright can use the unauthorized user and claim damage and
compensation as well. Copyright are protected in India by the copyright act 1957.
Copyright work – work of authorship that fall within the definition of copyright work includes
1. Literary work which include books and other writing, musical composition, paintings,
sculpture, computer programming and films, television recording of event and television
show.
2. Musical works and accompanying lyrics...
3. Dramatic work
4. Pictorial graphic and sculptural work
5. Sound recording
6. Cinematograph
Term of Copyright –Copyright registration is valid for 60 years plus the life time of the
author/artist who create the work. Advantages of copyright registration –
 By registering a copyrighted work, a public record of the work and concrete evidence of
ownership is established.
 If someone copies your work you can sue them for copyright infringement.
  The copyright owner has the exclusive right to do or authorize any of the fallowing
Copy the work in any physical form including storing it in any medium by electronics means
issues copy of the work to the public when no copies have been published.
 Perform the work in public or communicate in to the public make any translation which
are adapt the work.
Copyright Infringement – Copyright infringement occur when someone other than the
copyright owner copies the expression of the work or without the owners express permission.
Copyright infringement can happen even if someone does not copy the work exactly.
Risk of copyright Infringement- Today thanks to advances in technology almost anything can
be copied easily and almost perfectly. One way to combat potential copyright.

Answer 6 –
The competition act, 2002 and the monopolistic and restrictive Trade practices MRTP Act, 1969
are both laws aimed and promoting fair competition and preventing anti-competitive practices in
the market.
The competition act 2002 was passed to replace the MRTP act, recognizing the need for a
modern and more comprehensive framework for competition regulation.
The following table illustrates the key differences between the two Acts.

N0. MRTP ACT, 1969 COMPETITION ACT, 2002

1 Based on the pre liberalization scenario Based on the post liberalization scenario
2 Based on size as a factor Based on structure as a factor
3 Competition offences implicit or not Competition offences explicit and defined
defined
4 Complex in arrangement and language Simple arrangement and language
5 Prohibits dominance Prohibits abuse of dominance
6 Registration of agreement compulsory Registration of agreements not required
7 Very little administrative and financial Relatively more autonomy for the competition
autonomy for the competition commission
Commission
8 No regulation and combinations Combinations regulated beyond a high threshold
limit
9 Competition commission appointed by Competition commission appointed by a collegium
the government
10 No competition advocacy role for the Competition commission enjoys competition
competition commission advocacy role
11 MRTP commission could not inquire Directly in to cartels of foreign origin CCI has the
directly in to cartels of foreign origin authority to regulate them