Description

Business Law

September 2024 Examination

 

 

Q1. Explain in details two (2) real-life instances of Anti-Competitive Agreements which have been prohibited by the Competition Commission of India.      (10 Marks)

Ans 1.

Introduction

Anti-competitive agreements are arrangements between enterprises that significantly harm market competition. These agreements can take many forms, including price fixing, bid rigging, market division, and production control. The Competition Commission of India (CCI) plays a critical role in maintaining competitive markets by identifying and prohibiting such practices. The CCI, established under the Competition Act, 2002, aims to prevent practices that have an adverse effect on competition, promote and sustain competition, protect the interests of consumers, and ensure freedom of trade. This vigilance ensures a level playing field, encouraging innovation, efficiency, and consumer welfare. Two notable instances where the CCI has intervened to prohibit anti-competitive agreements include the case against the cement manufacturers and the automobile manufacturers in India. These cases highlight the

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Q2. Illustrate the essential features of Contract.    (10 Marks)

Ans 2.

Introduction

A contract is a legally binding agreement between two or more parties that is enforceable by law. Contracts are foundational to commerce and legal systems worldwide, as they establish the obligations and rights of the parties involved. The Indian Contract Act, 1872, governs contracts in India and outlines the requirements for a valid contract. Understanding the essential features of a contract is crucial for individuals and businesses to ensure that their agreements are legally enforceable and to avoid potential disputes. These features include offer and acceptance, intention to create legal relations, lawful consideration, capacity to contract,

 

 

Q3.Surendra  and  Kashyap  have  entered  into  an  agreement  to  license  technology. However, Surendra did not complete the full delivery of the technology license to the satisfaction of Seema. Hence, disputes arose between Surendra and Kashyap. Surendra and Kashyap do not want to go through a protracted litigation process before the conventional forums/courts. Can you advise them on:

1. What should be done to conduct an arbitration between Surendra and Kashyap to resolve their disputes. (5 Marks)

Ans 3a.

Introduction

Arbitration is an effective alternative dispute resolution method that allows parties to resolve conflicts outside of traditional courts. Surendra and Kashyap can opt for arbitration to avoid the lengthy and costly litigation process. Arbitration is typically faster, confidential, and can provide a binding resolution. Here, we outline the steps they should take to conduct an

 

 

1. The difference between  Arbitration,  Conciliation  and  Mediation?  What  is  the advantages and disadvantages of each of these?   (5 Marks)

Ans 3b.

Introduction

Arbitration, conciliation, and mediation are three primary methods of alternative dispute resolution (ADR) that offer parties the opportunity to resolve disputes outside of traditional court litigation. Each method has distinct characteristics, processes, and benefits, making them suitable for different types of disputes. Understanding the differences and the advantages and disadvantages of each method is crucial for choosing the most appropriate ADR approach.

Concept and Application

Arbitration

Arbitration involves a neutral third party, known as an arbitrator, who hears the evidence and