Ans 1.

Primary and Secondary Sources: The main sources of modern Indian Law, as administered by Indian courts, may be divided into broad categories: (i) Primary sources and, (ii) secondary sources. The primary sources of Indian law are: (a) customs, (b) judicial precedents, (stare decisis) (c) statutes and (d) personal law. The secondary sources of Indian law are: (a) English Law, (common law, equity, law merchant, and statute law), (b) Justice, equity and good conscience. Customary Law: Customs have played an important role in making the law and therefore are also known as customary law. Customary Law, in the words of Keeton, may be defined as those rules of human action, established by usage and regarded as legally binding by those to whom the rules are applicable, which are adopted by the courts and applied as sources of law because they are generally followed by the political society as a whole or by some part of it. In simple words, it is the uniformity of conduct of all persons under like circumstances. It is a generally observed course of conduct by people on a particular matter. When a particular course of conduct is followed again and again, it becomes a custom. Every custom does not become law. A custom, to be valid, must be observed continuously for a very long time without any interruption. Further, a practice must be supported not only for very long time, but also it must be supported by the general public opinion. Also, a custom must not conflict with any statute law and must not be opposed to public policy and morality. Another requisite of a valid custom is that it must be certain and definite and not vague and ambiguous. Last, but not the least, a custom must be reasonable and not opposed to the principles of justice, equity and good conscience. A valid custom is law unless it has been overridden by legislation. For example, the Hindu Marriage Act prohibits marriage of persons who are within the prohibited degree of relationship, still the Act permits marriage of persons within prohibited degree of relationship, if there is a proven custom in a certain community. With the progress of civilization, custom as a source of law is being replaced by statutes and judicial precedents. As customary law is unwritten, therefore, it is sometimes called jus non-scriptum as contrasted with the legislation which is called jus scriptum. Ans 2. A contract is an agreement made between two or more parties that is enforceable by law. The enforcement aspect of a contract is important, because without the ability to enforce an agreement, neither party is required to honor the contract. Determining whether an agreement is enforceable is relatively simple, so long as you keep these steps in mind. Test to see whether the agreement is contract or not: Consider hiring an attorney to draft the contract . If the contract is of substantial value, for example to buy or sell a house, an attorney should draft the contract to ensure that nothing is overlooked. If, however, the contract is of less value, for example to sell a used car, you may wish to draft the contract yourself. If you are ever in doubt, it is best to consult an attorney at the contract writing stage. Ensure the subject matter of the contract is lawful . A contract may be made for a wide variety of reasons, but in order to be valid, the contract must be made for a lawful purpose. Contracts to engage in illegal activity are not valid contracts and will not be upheld in court. Examples of illegal contracts are those for the sale of illegal drugs or weapons and agreements to commit a crime. Ensure the parties to the contract have the legal and mental capacity to make the agreement. The law presumes that certain classes of people do not know what they are doing when they enter into a contract, and thus those people should not be held accountable under those contracts. Minors and certain individuals with mental illness do not have the capacity to enter into a contract. Under the law, if a minor or mentally ill person enters into a contract, the minor or mentally ill person will be able to void the contract. Some exceptions to this rule exist: a person without capacity to enter into a contract usually may not void a contract for necessities, such as food, clothing, and shelter. Ans 3. Agency: Fiduciary relationship between two parties in which one (the 'agent') is under the control of (is obligated to) the other (the 'principal') . The agent is authorized by the principal to perform certain acts, for and on behalf of the principal. The principal is bound by the acts of the agent, performed in carrying out entrusted duties and within the scope of agent's authority. An agency can be created by (1) express agreement, whether oral or written, (2) implication, based on the custom or practice of the trade, or (3)conduct of the principal. Under the legal doctrine of estoppel, the principal is prohibited from denying the existence of a properly constituted agency. Creation of agency is essential to commercial and financial transactions, because an organization (as a legal entity) can function only through its agents. Agent: A person who is authorized to act for another (the agent's principal) through employment, by contract or apparent authority. The importance is that the agent can bind the principal by contract or create liability if he/she causes injury while in the scope of the agency. Who is in agent and what is his/her authority or often difficult and crucial factual issues. Ans 4. Dissolution of a Partnership firm * Dissolution of a partnership means:-The act of ending of the old Partnership agreement and a reconstruction of the firm due to admission, retirement and death of a partner. It may or may not close the business.

* Dissolution of a Partnership 'firm' means:-The firm close its business then the assets of the firm are sold and liabilities are paid off and remaining amount is distributed among the partners. *Cases of Dissolution of Partnership :1. In case of change in profit-sharing ratio of the exiting partners. 2. In case of admission of a new partner. 3. In case of retirement of a partner. 4. In case of expulsion of a partner. 5. In case of death of a partner. 6. In case of insolvency of a partner. 7. In case of expiry of the period of partnership. *Cases of Dissolution of Partnership firm:*Without the intervention of the court: 1. When all partners agree to dissolve the firm.[sec.40] 2. Compulsory Dissolution [sec.41] 3. On the happening of any incidents:[sec.42] 4. When any partner giving notice to other partners can dissolve the firm.[sec.43 ] By order of the court [sec.44]: cases in which the court may order the dissolution of the partnership firm. Ans 5. A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, without conditions in addition to payment imposed on the payer. Cheques or promissory notes are common examples. Negotiable instruments are often defined in legislation.[1] Although often discussed as foundational in commercial law, their modern relevance is sometimes questioned.[2][3] More precisely, it is a document contemplated by a contract, which (1) warrants the payment of money, the promise of or order for conveyance of which is unconditional; (2) specifies or describes the payee, who is designated on and memorialized by the instrument; and (3) is capable of change through transfer by valid negotiation (sale) of the instrument. When the instrument is transferred in accordance with certain conditions, the holder may become a holder in due course and be free from defences which would apply to the original payee, such as defective goods or fraud. Instruments can be transferred for amounts in contractual exchange that are less than the instruments face value (known as discounting), particularly if there is doubt as to the payer's ability to pay. Under United States law, Article 3 of the Uniform Commercial Code as enacted in applicable state law governs the use of negotiable instruments, except banknotes. Difference between Bill of exchange and promissory notes

Promissory Note

Bill of Exchange

It is promise to pay There are only two parties the drawer, and the payee. There is no necessity of acceptance The maker is primarily liable It is never drawn in sets Protesting is not necessary after dishonour

It is an order to pay There are three parties, the drawer, the drawee, and the payee. It must be accepted The drawer is not primarily liable. Foreign bills are specially drawn in sets. A foreign bill must be protested upon dishonour.

Ans 6. RTI Act 2005 Under the provisions of the Act, any citizen may request information from a "public authority" (a body of Government or "instrumentality of State") which is required to reply expeditiously or within thirty days. The Act also requires every public authority to computerize their records for wide dissemination and to pro-actively publish certain categories of information so that the citizens need minimum recourse to request for information formally. This law was passed by Parliament on 15 June 2005 and came fully into force on 13 October 2005.[1] Information disclosure in India was hitherto restricted by the Official Secrets Act 1923 and various other special laws, which the new RTI Act now relaxes. The Act has increased transparency and greater accountability in the functioning of the government and hence played a significant role in reducing corruption. Also, it promoted citizen-centric approach to development and helped in increasing the efficiency of public welfare schemes provided by the government.[2] IT Act 2000 Information technology Act 2000 consisted of 94 sections segregated into 13 chapters. Four schedules form part of the Act. In the 2008 version of the Act, there are 124 sections (excluding 5 sections that have been omitted from the earlier version) and 14 chapters. Schedule I and II have been replaced. Schedules III and IV are deleted. Information Technology Act 2000 addressed the following issues: 1. Legal Recognition of Electronic Documents 2. Legal Recognition of Digital Signatures 3. Offenses and Contraventions 4. Justice Dispensation Systems for Cybercrimes