1.CONSUMER PROTECTION ACT1986 INTRODUCTION: The Consumer Protection Act, 1986 aims to provide for better protection of the interests of consumers and for the settlement of consumers disputes and for matters connected therewith. The act extends to the whole of India except the State of Jammu and Kashmir. The act applies to all goods and services except those notified by the central Government. Who Is A Consumer? Sec.2 (1) (d)
As per the definition definition given under the Act, Act, a consumer means means (a) Any person who: i) Buys any goods, or ii) Hires or avails of any services, On payment, either in full or i n installments or under hire purchase system; and Any person who uses goods or is benefited from services, without making any payment
Wha Are Goods? Sec.2 (1) (i)
Goods have been defined to mean the same as per the definition under Sale Of Goods Act. Goods under that act means every kind of movable property except money and actionable claims, and includes stock and shares, growing crops and things attached to or under the contract of sale. What Are Services? Sec.2 (1) (o)
Service means service of any description made available to potential users and includes banking, financing, insurance, transport, processing, supply of electrical and other energy, boarding, lodging or both, entertainment, amusement and purveying of news and other information.
OBJECTS OF THE ACT
o f consumers Providing better protection of interest of c onsumer council and other authorities Providing for the establishment of consumer Settling consumer disputes and matters connected therewith
RIGHTS OF CONSUMERS Right to Safety Right to be Informed Right to Choose Right to be Heard Right to Seek Redressal Right to Consumer Education
Consumer Redressal agencies: A. District forum: sec. (10 to 15)
I.
Composition (sec.10) President District Court Judge 2 members(one of them is female) Having above 35 years age 10 years experience in the fields of economics, law, commerce, accountancy, accountancy,
industry, Public affairs/ administration. administration. II. Jurisdiction(sec.11) 500000 not more than
III. Manner in which complaint should be made(sec.12 IV. Procedure and receipt of complaint (sec.13) V. Finding of the district forum (sec.14) VI. Appeal (sec.15) 30 days
B.State Commission: sec. (16to19)
I.
Composition Composition (sec.16) President-judge of high court 2 members
II.
Jurisdiction (Sec.17) 5lakhs to less than 20,00,000
III.
Procedure (sec.18)
IV.
Appeal (Sec.19) 30 days
C.National Commission: Sec. (20-23)
I.
Composition(sec.20) President supreme court judge 4 members(one of them is female)
II.
Jurisdiction(Sec.21) More than 20,00,000
III.
Procedure(Sec.22)
IV.
Appeal(Sec.23)
2.WINDING UP OF COMPANY INTRODUCTION: Winding
up or liquidation of a company represents the last stage in its life. It means a
proceeding by which a company is dissolved. Thus, the winding up is the process of putting an end to the life of the company. And during this process, the assets of the company are disposed of, the debts of the company are paid off out of the realized assets or from the contributories and if any surplus is left, it is distributed among the members in proportion to their shareholding in the company. The winding up of the company is also called the liquidation of the company. According to Prof.Gower winding up of a company is a process whereby its life is ended and its property administered for the benefit of its creditors and members. An administer called liquidator, is appointed and he takes control of the company, collects its assets, pays its debts and finally distributes any surplus among the members in accordance with their rights.
MODES OF WINDING UP
I. II.
Winding
up by the court (secs.433to483)
Voluntary winding up (secs.484to5 21) Members voluntary winding up Creditors voluntary winding up
III.
Winding
up subject to supervision of court
.
Winding up by the court A company company may be wound up by the court in the the following cases: 1. Special resolution of the company[sec.433(a)] company[sec.433(a)]
2.
Default in delivering the statutory report to the registrar or in holding statutory meeting[sec.433(d)]
3. Failure to commence or suspension of business [sec.433] 4.
Reduction in
membership[sec.433(d)] membership[sec.433(d)]
5. Inability to pay its debts[sec.433(e)] 6. Just and equitable [sec.433(f)]
Petition (sec.439) 1. Petition by the company [sec439 (1) (a)] 2.
Petition by any creditor or creditors [sec.439 (1) (b)]
3. Petition by any contributory or contributories [sec.439 (1) (c)] 4. Petition by all or any of the prior parties whether together or separately [sec.439 (i) (d)] 5. Petition by registrar [sec.439 (1) (e)] 6. Petition by the central government sce.439 (1) (f)]
Members voluntary winding up Provisions applicable applicable to a members membe rs voluntary winding up: 1. Appointment and remuneration of liquidator (Sec.490) 2.
Boards powers to cease on appointment of a liquidator(Sec.491)
3. Power to fill vacancy in office of liquidator(Sec.492) 4. Notice of appointment of liquidator to be given to registrar(sec.493) registrar(sec.493) 5. Power of liquidator to accept shares as the consideration for sale of property(Sec.495) 6. Duty of liquidator to call creditors meeting in case of insolvency (Sec.495) 7. Duty to call general meeting at the end of each year(Sec.496) 8. Final meeting and dissolution (Sec.497)
3.Essentials of valid contract Introduction: A contract is an agreement made between two or more parties which the law will enforce sec2(h) defines a contract as an agreement enforceable by law. According to salmonda contract is an agreement creating and defining obligations between the parties. Agreement =offer+ acceptance Contract =agreement + enforceable by law
Types of contracts
Classificat Classification ion accord accordin in to validit validit
formation
1.void agreement
1.express contract
erformance
1.executed contract
2.void contract
2.implied contract
2.executory contract
3.illegal agreement
3.Quasi contract
3.Unilateralcontract 3.Unilateralcontract
4.Unenforceable 4.Unenforceable contract
4.bilateral contract
1. Offer and acceptance 2.
Intention to create legal relationship
3. Law ful consideration 4. Capacity of parties-competency. 5. Free and genuine consent 6. Lawful object 7. Agreement not declared void 8. Certainity and possibility performance 9. Legal formalities. 4.KINDS OF QUASI CONTRACTS
1. Supply of Necessaries (Sec.68) 2.
Payment by the interested persons (Sec.69)
3. Obligation to pay for non gratuitous acts (Sec.70) 4.
Responsibility
of finder of goods (Sec.71)
5. Mistake or coercion (Sec.72)
5.DUTIES AND RIGHTS OF AGENT AND PRINCIPAL An agent is a person employed to do any act for another or to represent another in dealings with third persons[sec.184]. the person for whom such act is done or who is so represented is called the principal. Right of agent:
1.
Right
of retainer
2.
Right
of receive remuneration
3.
Right
of lien
4.
Right
of indemnification
5.
Right of compensation
6.
Right
of stoppage in transit
Duties of agent:
1. To carry out work undertaken according to the directions given by the principal. 2.
To carry out the work with reasonable care skill and d iligence.
3. To render proper accounts to his principal 4. To communicate with the principal in case of difficulty 5. Not to deal on his own account. 6. To pay sums received for the principal 7. To protect and preserve the interests of the principal in case of his death or insolvency. 8. Not to made secret profit from agency. 9. Not to put himself in a position where interest and duty conflict. 10. Not to set up an adverse title.
Rights of Principal:
1. To recover damages 2.
To obtain an account of secret profits and recover them and resist claim for remuneration
3. To resist agents claim for indemnity against liability incurred. Duties of principal:
1. To indemnify the agent against the consequences of all lawful acts. 2.
To indemnify the agent against the consequences of acts done in good faith.
3. To indemnify agent for injury caused by principals neglect. 4. To pay the agent the commission or other remuneration agreed.