Description

Business and Allied Law
April 2024 Examination
1. The term ‘caveat emptor’ is not only an essential concept for buyers but also for
sellers as it absolves a seller from any further liability after a particular transaction is
completed. However, With globalization, the Indian markets have come in synchrony
with the global leaders and therefore, the businesses here have started realizing that
consumers or buyers occupy a superior position now. In view of this, analyze whether
the concept of Caveat Emptor is still relevant to contracts of Sale of Goods in the 21st
Century also do you think the era should be of Caveat Venditor instead of Caveat
Emptor. (10 marks)
Ans 1.
Introduction
The principle of ‘caveat emptor’, meaning “let the buyer beware”, has traditionally
underpinned transactions, placing the onus on buyers to conduct due diligence before making
a purchase. This doctrine favored sellers by limiting their obligations to disclose, effectively
absolving them of liability once a sale was concluded. However, the advent of globalization
and the ensuing alignment of Indian markets with global standards have ushered in a
significant shift. Consumer empowerment and protection have become paramount, prompting
a reevaluation of ‘caveat emptor’s relevance in the modern marketplace. The evolving legal
landscape and consumer expectations now challenge the traditional seller-centric approach,
It is only half solved
Get Complete assignment help from us
Price – 290/ assignment
NMIMS Complete Solved Assignments
Available for session APRIL 2024
The last date is 28th MARCH- 2024
Our assignment help is affordable
Our goal is to provide you with the best and the cheapest
services
Contact No – 8791514139 (WhatsApp)
OR
Mail us- [email protected]
Our website – www.assignmentsupport.in
Online buy – https://assignmentsupport.in/shop/
Q.2 The Central Government on recommendations of The Second National Commission
on Labour proposed to replace 29 existing Labour Laws with four Codes to simplify
and modernize labour regulation. The major challenge was to facilitate employment
growth while protecting workers’ rights. Briefly describe the four labour codes. (10
marks)
Ans 2.
Introduction
The modernization and simplification of labour laws in India have been a significant step
towards aligning the country’s regulatory framework with the evolving needs of its economy
and workforce. Recognizing the complexities and redundancies in the existing system, where
29 distinct labour laws created a labyrinthine legal framework, the Central Government,
guided by the recommendations of The Second National Commission on Labour, embarked
on a comprehensive reform process. This reform aimed at consolidating these laws into four
succinct Labour Codes. This initiative was driven by a dual objective: to spur employment
growth across sectors by making the regulatory environment more business-friendly, and to
Q.3 Mr.Reddy alleged that he purchased a pulse oximeter from XYZ Medical Shop in
Secundrabad for Rs.1600/- on July 2023. However, upon testing the oximeter at home,
he discovered that it did not function properly. He immediately informed the medical
shop about the disfunction of the device but got an inadequate answer. The medical
store offered replacement with a lower-priced alternative, but Mr. Reddy
demanded a full refund. Despite his efforts, it only refunded a partial amount stating
that the taxes have already been paid to the Govt. The medical store also mentioned that
they were merely retailers and not responsible for the functioning or warranty of the
product.
(a) Analyze the case and mention the remedies available to Mr.Reddy with the help of
the latest case laws. (5 marks)
Ans 3a.
Introduction
The case involving Mr. Reddy and XYZ Medical Shop highlights a common consumer
grievance regarding the purchase of defective goods, in this case, a pulse oximeter. The
consumer’s demand for a full refund confronts the retailer’s stance of offering a lower-priced
replacement or a partial refund, citing tax payments and disclaiming responsibility for the
product’s functionality. This scenario underscores the need to examine consumer rights and
(b) Explain the redressal machinery as available under the Consumer Protection Act
and mention the forum to which Mr. Reddy should approach. (5 marks)
Ans 3b.
Introduction
The Consumer Protection Act provides a comprehensive mechanism for the redressal of
consumer grievances, designed to offer quick and effective remedies to consumers facing
issues with goods and services. This legal framework establishes a three-tier system of
consumer courts at the district, state, and national levels, ensuring that consumers have
accessible venues for lodging complaints and seeking justice. The Act empowers consumers