Law & business law

1. Legal Environment for Business in Nepal
26 September 2016
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2. .
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3. • Law is an instrument to regulate the
society.
• Law is a command of Sovereignty back by
sanction.
• Law is the body of Principles recognized
and applied by the state in administration
of justice.
• Law is that what the justice says in his
decision
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 Rule made by authority for the proper regulation of
a community or society for correct conduct in life.
 Law is like a language it changes depending
upon time.
 “Law is that which must be obeyed and followed
by citizens subject to sanction and legal
consequences” (Black’s Law Dictionary)

5. • Equal treatment: Law treats all equally.
• Enactment of law: Law is enacted by Sovereign
• Power: Law has ultimate power behind it.
• Justice: Law creates Justice.
• Positive law: No one is above law.
• Status of usage: Any usage and tradition
• Role of law: Law imparts justice, maintain peace
and harmony
• Administration of law: The Court administers the
law.
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6.  Business law has a vital role in creating, developing,
conducting, regulation, controlling, enhancing and
systemizing the business activities.
 Business law is designed for conducting business
activities in a systematic channel.
 Also known as Trade law, Commercial law,
Mercantile laws deals with business activities.
 The law relates to subject matters e.g. relating to
industry, trade and commerce.
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7.  No economic status of the people can be sound and
no economy of a country can take motion without a
good business law.
 Business law should be enacted or amended
according to the pace of time and country’s situation.
 Without this law no such activities can be run
smoothly.
 Business law provides legitimacy, security, control and
incentives to business activities. Protects rights and
interests of consumers, labour, business and society.
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8.  Means of maintaining peace and order
 Creation of good environment
 Encouragement and inducement
 Awareness for rights and caution to obligation
 Protection of rights and interests
 Settlement of dispute
 Guidance
 Economic Development
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9.  Constitution : Constitution of Nepal 2072
 Acts: Contract, Company, FERA, Labour
 Ordinance: Executives/Decree or law promulgated
by a state or national government without the
consent of the legislature
 Precedents: Supreme Court decisions
 Regulations: Executive
 Directives: GoN.
 Circulars: Department/ Ministry/ Authorities
 Bye-Laws: Organization/Company/ Authorities
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Thank you !