The elasticity of demand shows the reaction of one variable with respect to the change in other variables on which it is dependent. Thus elasticity is an index of reaction. In economics, elasticity refers to a ratio of the relative changes in two quantities. It measures responsiveness or sensitiveness of one variable due to the change […]
Statement: Demand varies inversely with price. Assumptions of the law There is no change in the income of consumers. There is no change in the quality of the product. There is no substitute for the commodity in the market. The prices of related commodities (complements) remain the same. There is no change in customs, tastes, […]
Problem of Choice In any choice problem, there is a feasible set of alternatives. The alternatives which are available to the individual constitute this feasible set. The individual is assumed to be clear in her mind about her likes and dislikes (preferences) and has the capacity to compare any two alternatives (rational) in the feasible […]
Indian Legal System > Civil Laws > Labour Laws > MRTU and PULP Act, 1971 > Authorities Under MRTU & PULP Act In this article, we should study the authorities under MRTU & PULP Act are Industrial Court, Labour Court, and Investigating Officers. Industrial Court: Constitution of Industrial Court: Section 4 of MRTU & PULP […]
Indian Legal System > Civil Laws > Labour Laws > MRTU and PULP Act, 1971 > Introduction The law identifying with work and job is called Industrial law or labour law in India. The meaning of MRTU & PULP Act, 1971 is the Maharashtra Recognition of Trade Unions and Prevention of Unfair Labour Practices Act, 1971. By Government […]
Meaning of Volenti Non Fit Injuria: Damage suffered by consent is not a cause of action. Meaning Word by Word: Volenti: Voluntarily Non fit: Non-actionable Injuria: Injury to private Legal Rights. Explanation: If a plaintiff has given his consent (free from coercion, fraud, misrepresentation, mistake, undue influence) to a legal act with the knowledge of […]
Meaning of damnum sine injuria: Actual damage suffered without legal injury Meaning Word by Word: Damnum: Loss or damage Sine: Without Injuria: Injury to Private Legal Rights Explanation: The damage may be in form of money, service, physical hurt, loss of health or reputation and loss of comfort. According to this maxim, these are mere […]
The dictionary meaning of justice is ‘moral or legal fairness”. Classification of Justice: Justice can be classified into two types viz. natural or moral justice and positive or legal justice. Natural Justice: The word is derived from the Roman word ‘Jus Naturale’, which means principles of natural law, equity, and good conscience. These principles did […]
Types of Administration of Justice: Difference Between Civil Litigation and Criminal Prosecution: Parties in Litigation: When Applicable: Goals of Litigation: Matter Under Discussion: Payment to Lawyer: The Burden of Proof: Constitutional Protection:
Administration of Criminal Justice: Administration of justice is the maintenance of right within a political community by means of the physical force of the State. Without the administration of justice, a person would be inclined to redress his wrongs by his own hands, which is certainly not desirable. The Need for Administration of Criminal Justice: A man by nature […]