PROJECT

ON
LEGAL ASPECT OF BUSINESS

Name- KHUSHI AGARWAL

Section- C
Roll no.- 28
Date-25-09-2022

SHANTI BUSINESS SCHOOL

TOPIC- Articles/Current Affairs in the Business World

SUBMITTED TO- RENIN SINGH

 ACKNOWLEDGEMENT
Apart from the efforts of
myself, the success of the
project depends largely on the
encouragement
and guidelines of many others. I
take this opportunity to express
my gratitude to the people who
have been instrumental in the
successful completion of this
project.
I would like to express a deep
sense of gratitude to Principal
(Dr.) Purnima Biswas and our
Head of the department Prof.
Samita Banerjee for their
cordial support as they gave
the
permission to use all required
equipment and the necessary
material to complete the project.
I would like to extend my
sincerest gratitude to Lecturer
Soma Das for her guidance
and
supervision as well as for
providing necessary information
regarding the project and also
for the
support in completing the
project.
Finally I also extend my
heartiest thanks to my parents,
friends and well wishers for
being with
me and extending
encouragement throughout the
project
Apart from the efforts of
myself, the success of the
project depends largely on the
encouragement
and guidelines of many others. I
take this opportunity to express
my gratitude to the people who
have been instrumental in the
successful completion of this
project.
I would like to express a deep
sense of gratitude to Principal
(Dr.) Purnima Biswas and our
Head of the department Prof.
Samita Banerjee for their
cordial support as they gave
the
permission to use all required
equipment and the necessary
material to complete the project.
I would like to extend my
sincerest gratitude to Lecturer
Soma Das for her guidance
and
supervision as well as for
providing necessary information
regarding the project and also
for the
support in completing the
project.
Finally I also extend my
heartiest thanks to my parents,
friends and well wishers for
being with
me and extending
encouragement throughout the
project
Apart from the efforts of
myself, the success of the
project depends largely on the
encouragement
and guidelines of many others. I
take this opportunity to express
my gratitude to the people who
have been instrumental in the
successful completion of this
project.
 I would like to express a deep
sense of gratitude to Principal
(Dr.) Purnima Biswas and our
Head of the department Prof.
Samita Banerjee for their
cordial support as they gave
the
permission to use all required
equipment and the necessary
material to complete the project.
I would like to extend my
sincerest gratitude to Lecturer
Soma Das for her guidance
and
supervision as well as for
providing necessary information
regarding the project and also
for the
support in completing the
project.
Finally I also extend my
heartiest thanks to my parents,
friends and well wishers for
being with
me and extending
encouragement throughout the
project
Apart from the efforts of
myself, the success of the
project depends largely on the
encouragement
and guidelines of many others. I
take this opportunity to express
my gratitude to the people who
have been instrumental in the
successful completion of this
project.
I would like to express a deep
sense of gratitude to Principal
(Dr.) Purnima Biswas and our
Head of the department Prof.
Samita Banerjee for their
cordial support as they gave
the
permission to use all required
equipment and the necessary
material to complete the project.
I would like to extend my
sincerest gratitude to Lecturer
Soma Das for her guidance
and
supervision as well as for
providing necessary information
regarding the project and also
for the
support in completing the
project.
Finally I also extend my
heartiest thanks to my parents,
friends and well wishers for
being with
me and extending
encouragement throughout the
project.
Apart from the efforts of myself, the success of the project depends largely on the
encouragement and guidelines of many others. I take this opportunity to express my gratitude to
the people who have been instrumental in the successful completion of this project.
I would like to express a deep sense of gratitude to Principal (Dr.) Neha Sharma for their
cordial support as they gave the opportunity to learn more practically.
I would like to extend my sincerest gratitude to Lecturer Renin Singh for her guidance and
supervision as well as for providing necessary information regarding the project and also for the
support in completing the project.
Finally I also extend my heartiest thanks to my parents, friends and well-wishers for being with
me and extending encouragement throughout the project.
 Damages
When a contract has been broken, the party who suffers by such breach is entitled to receive,
from the party who has broken the contract, compensation for any loss or damage caused to
him thereby, which naturally arose in the usual course of things from such breach, or which
the parties knew, when they made the contract, to be likely to result from the breach of it. —
When a contract has been broken, the party who suffers by such breach is entitled to receive,
from the party who has broken the contract, compensation for any loss or damage caused to
him thereby, which naturally arose in the usual course of things from such breach, or which
the parties knew, when they made the contract, to be likely to result from the breach of it."
Such compensation is not to be given for any remote and indirect loss or damage sustained
by reason of the breach. Compensation for failure to discharge obligation resembling those
created by contract —When an obligation resembling those created by contract has been
incurred and has not been discharged, any person injured by the failure to discharge it is
entitled to receive the same compensation from the party in default, as if such person had
contracted to discharge it and had broken his contract. —When an obligation resembling
those created by contract has been incurred and has not been discharged, any person injured
by the failure to discharge it is entitled to receive the same compensation from the party in
default, as if such person had contracted to discharge it and had broken his contract."
Explanation —In estimating the loss or damage arising from a breach of contract, the means
which existed of remedying the inconvenience caused by the non-performance of the
contract must be taken into account. 
 Quantum Meruit
Quantum meruit means "the amount one deserves" or "as much as one has
earned". In most cases it denotes a claim for a reasonable sum in respect of
services or goods supplied to the defendant.

Ruaraidh Fitzpatrick succeeded on what the Employment Appeal Tribunal recognised as a ‘novel

question’ at appellate level. The EAT confirmed that a claim for a quantum meruit cannot be
brought as wages claim under the Employment Rights Act 1996.

Ruaraidh acts for Mr Thomas, Abellio East Midlands Ltd v Thomas, in a highly technical appeal
involving the mechanics of Part II of the 1996 Act and the law of unjust enrichment Michael
Ford QC held that such a claim cannot succeed as:

1. A payment for work done outside the scope of a contract of employment does not fall within
the statutory concept of wages;
2. It will often be very difficult to work out when such sums were ‘properly payable’;
3. It will typically be difficult to identify the sum ‘properly payable’ as this amount is to be
determined by the court, often after considering objective evidence as to the value of the
service;
4. The Tribunals are not well equipped to deal with such claims, for example lacking the special
pleading rules common to claims for a quantum meruit in the civil courts

While legislation such as that contained in Part II ERA 1996 will be given a broad interpretation
by the Tribunals, claimants should be mindful of the limits to such interpretation and carefully
consider whether the claim they bring is one which the Tribunal can hear. .

Source: - Cloisters News

 Suit for injunction
DELHI HC RESTRAINS DOMINICK PIZZA FROM COPYING DOMINO'S BRAND NAME
In a relief to Domino's, the Delhi High Court has restrained a pizzeria from using the name
"Dominick Pizza" to sell pizzas. The HC's order on Wednesday came after global restaurant
chain Domino's Pizza accused Dominick Pizza of deceptively using a similar and identical logo,
name, and trademark.

In its order, Delhi HC's Justice Pratibha M Singh observed that from the manner of listings of
social media platforms and online ordering platforms, it was clear that the name and business
of Dominick Pizza were being confused as that of Domino's outlets, reported Livelaw.in.

"The reviews of the consumers on Google Reviews, also re-affirms this fact that apart from the
confusion that is taking place, there is severe tarnishment and dilution of the Plaintiffs' mark
and business. Accordingly, as per the facts and circumstances of this matter, the Plaintiffs have
made out a prima facie case in their favour for grant of an ex-parte ad interim injunction," the
court said.

Dominos had filed a suit against Ghaziabad Dominick Pizza, which had three outlets, two in
Uttar Pradesh's Ghaziabad, in Indirapuram and Raj Nagar Extension, and the third outlet in
Punjab.

In its petition, Domino's sought the protection of its mark 'Domino's Pizza', its device mark, and
logo as well as the marks' Cheese Burst' and 'Pasta Italia no'

Source: https://www.google.com/search?
q=DELHI+HC+RESTRAINS+DOMINICK+PIZZA+FROM+COPYING+DOMINO
%27S+BRAND+NAME&rlz=1C1CHBD_enIN1016IN1016&oq=DELHI+HC+RESTRAI
NS+DOMINICK+PIZZA+FROM+COPYING+DOMINO
%27S+BRAND+NAME&aqs=chrome..69i57j69i60.1139j0j15&sourceid=chrome&ie=UT
F-8
 Vindictive Damage
Angelina Jolie's former investment firm has accused Brad Pitt of waging a "war of revenge" over
a counterclaim against her ex-husband.
Jolie's former investment firm, Nouvel LLC, which owned stakes in Chateau Miraval and his
winery, said in a counterclaim filed Tuesday that Pitt sold the southeastern French winery from
him in 2016. Said to be in control. “Said.
"Pitt has frozen Nouvel at Chateau Miraval and treats it as his personal property," says Nouvel's
counterclaim filed in state court in Los Angeles, California.Jolie sold Nouvel last year. Pitt sued
Jolie and Nouvel in court in February, alleging that the Oscar-winning couple had illegally sold a
stake in Chateau Miraval, which they married in 2014, to an international alcohol company.
Attorneys for Jolie and Pitt did not respond to inquiries on Thursday. An attorney for Nouvel
declined to comment. Jolie and Pitt bought her 1,300-hectare chateau Miraval in 2008. The
vineyards are located in the village of Corren, between Marseille and Nice.
Nouvel says Jolie tried to sell her 50% stake in Pitt after their 2016 divorce, but she couldn't
come to an agreement because of Pitt's "unreasonable terms," the court said. Submitted to.
According to the counterclaim, Jolie sold Nouvel to alcohol distributor Stoli Group in October
2021, but Pitt did not agree to relinquish its absolute control.
Pitt said in his lawsuit that he and Jolie had agreed never to sell their vineyard ownership
without the other's consent.The sale violated that agreement and denied Pitt's right of first
refusal. , he said.
Pitt also said that because Jolie stopped donating to Chateau Miraval, Jolie was not entitled to
"unearned profits" from the sale, and that Pitt was "pouring money and sweating capital" into
the business. Rice field.

21Source: - Reuter
 Special damages
An insurance company that was ordered to pay more than a billion Dirhams in damages for a
2015 New Year’s Eve fire in Dubai has lost a civil lawsuit that it filed to try and recover the
money.

FILE - Smoke billows from the 63-story The Address Downtown skyscraper near the Burj
Khalifa, the world's tallest building, in Dubai, United Arab Emirates, Jan. 1, 2016. An insurance
company that was ordered to pay 1.25 billion Dirhams (more than $340 million) in damages for
a 2015 New Year’s Eve fire in Dubai has lost a civil lawsuit in September 2022 that it filed to try
and recover the money. Two years after the massive fire rocked the Address Downtown hotel,
Orient Insurance was ordered to pay Dubai’s state-backed developer Emaar in a settlement. (AP
Photo/Jon Gambrell, File) THE ASSOCIATED PRESS

Two years after the massive fire rocked the Address Downtown hotel, Orient Insurance was
ordered to pay Dubai’s state-backed developer Emaar 1.25 billion dirhams (more than $340
million) in a settlement. Emaar is behind projects like the world’s tallest skyscraper, the Burj
Khalifa.

Orient then filed a civil lawsuit in 2018 against the contractors who worked on the design,
construction and maintenance of the hotel. It said they failed to implement fire safety
requirements, contributing to the spread of the blaze.

Orient Insurance asked the contractors to pay back the insurance claim it paid to Emaar. The
case involved leading contractors including Belhasa JV, Arabtec, Mirage, and ALEC Engineering
and Construction
 Special Contract
The SAED on domestic crude oil initially was Rs 23,250 per tonne (USD 40 per barrel) and in
fortnightly revisions brought down to Rs 10,500 per tonne
The oil ministry has sought a review of the two-and-a-half-month-old windfall profit tax on
domestically produced crude oil saying it goes against the principle of fiscal stability provided
in contracts for finding and producing oil.
The ministry in the August 12 letter, reviewed by PTI, sought exemption for fields or blocks,
which were bid out to companies under Production Sharing Contract (PSC) and Revenue
Sharing Contract (RSC), from the new levy.It stated that companies have been since the
1990s awarded blocks or areas for exploration and production of oil and natural gas under
different contractual regimes, wherein a royalty and cess is levied and the government gets a
pre-determined percentage of profits.
The ministry, according to the letter, was of the opinion that the contracts have an in-built
mechanism to factor in high prices as incremental gains get transferred in form of higher
profit share for the government.
India first imposed windfall profit tax on July 1, joining a growing number of nations that tax
super normal profits of energy companies. Exports of gasoline, diesel and jet fuel (ATF) were
subject to tariffs, while locally produced crude oil was subject to a special Additional Excise
Duty (SAED).
His SAED for domestic crude oil was originally Rs 23,250 per tonne (US$ 40 per barrel), but
was reduced to Rs 10,500 per tonne after a two-week revision.
The government collects 10-20% royalties on the price of oil and gas and 20% on production
from land granted to the state-owned Oil and Gas Corporation (ONGC) and Oil India (OIL) of
petroleum taxes by nomination.

Source: - Outlook
 Contract of indemnity
A contract by which one party promises to save the other from loss caused to him by the conduct of the
promisor himself, or by the conduct of any other person, is called a contract of indemnity.

Reliance is also placed on the Tariff Advisory Committee's (TAC) General Regulation 1 on Consequential
Loss (Fire) Insurance Section 1 which reads as under:

"Policy to constitute contract of Indemnity: Every policy shall constitute a contract of indemnity only."

The TAC was formed under Section 64U of the Insurance Act, 1938 ("the 1938 Act") to prescribe the terms
and conditions and premium rates as well as wordings of insurance policies, when the insurance policy was
issued to the Indorama, it was mandated by law to issue it only in accordance with the LAC's prescribed
wording. The policy was in fact issued in the mandated form, and was a policy of "indemnity only" as
required by law and by the TAC's regulations. It is submitted that it has also held in several judgments that
contracts of insurance are contracts of indemnity except in the case of life insurance, personal accident and
sickness or contracts of contingency insurance. The following cases were relied upon: United India
Insurance Co. Ltd. v. Kartika Colour Lab, (2010) 6 SCC 449.State of Orissa v. United India Insurance Co.
Ltd., (1997) 5 SCC 512; Union of India v. Sri Sarada Mills Ltd., (1972) 2 SCC 87

b) Whether the business interruption insurance or loss of profit insurance in consequence to the damage
arising out of the fire is a contract of indemnity. The answer to this question is essential in as much as the
Arbitral Tribunal at paragraph 69.4 and 69.5 has while rejecting the submission of the petitioner that it is a
contract of indemnity observed that it is not acceptable in law. As the tribunal has not given any reasoning
as to why it is not acceptable in law. I shall be proceeding to analyze the terms of the policy document and
also the legal position as to whether the business interruption insurance or loss of profit insurance is a
contract of indemnity or not

source: https://indiankanoon.org/docfragment/62477277/?formInput=C ontract%20of%20indemnity

 Contract of Guarantee

"Guarantors" and "citizens" come to help in the bankruptcy proceedings, but who will help the
guarantors? The guarantor's plight has been debated in various court rulings, but no precise
ruling was rendered until the recent ruling of the National Corporate Law Court, Kolkata Bench.
However, this decision contradicts another decision by the Company Law Appellate Tribunal
(NCLAT). NCLAT denies the surety the right to seek claims released by the resolution plan.
Before discussing recent decisions, we will discuss warranty contracts. A surety contract within
the meaning of section 126 of the Indian Contracts Act, 1872 arises from the relationship
between the debtor, the creditor and the surety among his three parties. A guarantor guarantees
the repayment of a debt if the debtor fails to meet its obligations to the oblige.
But what if there is no contract signed by the parties? P La Japan v Kerala High Court Kerala
responded to the request, stating that the guarantor cannot escape the situation on the basis of
excessive formality If someone promises a guarantee, he must waive liability if the principal
debtor does not. A warranty contract can be concluded orally or in writing. What happens if the
guarantor fulfills its obligations? right of transfer A warranty contract establishes recourse rights.
The Act of Subrogation under Section 140 of the Indian Contracts Act, 1872 states that when a
surety has discharged a debt of the principal debtor, the surety follows in the footsteps of the
creditor and entitles the debtor to all rights the debtor has against the principal debtor. said to
own it.
Considering recourse in this situation, under Section 7 of the Insolvency and Bankruptcy Act
2016, the surety has the right to follow in the creditor's footsteps and initiate a Corporate
Insolvency Proceedings (CIRP) against the corporate debtor. can you say Also, what if there is
no guarantee agreement between the principal obligor and the borrower? It's a legal issue that
hasn't been decided yet.
 BAILMENT

Car buyers beware of ‘Bailment Agreement’

If you're purchasing a loaned car from a dealer this holiday season, check to see if the bill of
sale includes a "warranty contract."
This type of contractual legal relationship means that if you can't get credit for the car you want
to drive, the dealer has the power to take your car back. Some used and new car buyers who
had to return their newly purchased car thought it was theirs when they signed the contract
and received the keys to drive the car. I was shocked because it was.
"Essentially, a warranty contract is a contract for the temporary storage of something. So, in
these car situations, they say, 'Please sign the dotted line here. We'll probably give you this car
However, it is said that it will be temporarily until the loan agreement is completed. “So, if you
sign this guarantee contract, it is just a temporary contract and subject to funding.”
Normally, under this deposit agreement, the dealer can attempt to finance a vehicle that the
buyer has already driven back within his 30 days. Even up to the 29th day, the dealer can take
the car if it cannot be loaned out.
Don't expect to sign a separate document for the security deposit agreement. Usually, it is in
the purchase or financing agreement. "What you want to do, and probably the best course of
action for consumers, is to make sure it's a contract of sale," says Marani. “And ensuring the
funding is complete allows us to do that.”
This means that the buyer must request the name, contact information, and a formal letter
confirming acceptance of the loan for the particular car at the agreed price from the lender
who will finance the car.
"So, before you get in the car and before you leave the dealership, ask yourself, 'Hey, is that my
car? And do I own it? Has it been paid for?' and you can't tell for sure that you paid for the car
and everything went well, you're going to be suspicious and want to ask a few more questions.
Also keep an eye on that.
 PLEDGE
A pledge is basically very serious formal promise. You can pledge allegiance to your country,
you can pledge to keep a secret, and you can pledge a sum of money to a cause

M/S Indian Oil Corporation vs M/S Nepc India Ltd., & Ors on 20 July, 2006
The first respondent hypothecated its two Fokker F27-500 Aircrafts, bearing Registration No.
VT-NEJ (12684) and VT-NEK (10687) to the appellant under Deed of Hypothecation dated
1.5.1997, to secure the outstanding amounts.

Clause (2) of the said Deed provided that the two aircrafts with all parts and accessories stood
hypothecated to IOC by way of charge and as security for payment of the amounts due, with
effect from the date of hypothecation.

Clause (3) read with the schedule set out the instalments schedule for payment of the amount
due.

clause (6), NEPC India declared that it would not assign, Assignment of Legal Aspect of
Business sell, pledge, charge, underlet or otherwise encumber or part with the possession,
custody or beneficial interest in respect of the two aircrafts without the previous written consent
of IOC. It also undertook not to do any act which may diminish the value of the hypothecated
property without clearing the entire outstanding amount.

Clause (9) provided that if NEPC India failed to pay any of the instalments with interest within
the stipulated time, or if any undertaking or assurance given by NEPC India was found to be
false, IOC shall have the "right to take possession of the hypothecated property" and sell the
same by public auction or by private contract and appropriate the sale proceeds towards the
outstanding dues without recourse to court of law.

Clause 12 confirmed that NEPC India had handed over the title deeds relating to the aircraft to
IOC, and agreed to receive them back only after paying the amounts due. It is stated that Skyline
also hypothecated its aircraft (VT-ECP) under a separate Hypothecation Deed dated 14.5.1997. It
is further stated that a tripartite agreement dated 6.5.1997 was entered among IOC, NEPC India
and Skyline setting out the mode of payment of the dues and recovery in the event of default.

(vii) A pledgee with reference to the goods pledged by the owner/borrower.

(viii) A debtor, with reference to a property held in trust on behalf of the creditor in whose
favour he has executed a deed of pledge-cum-trust. (Under such a deed, the owner pledges his
movable property, generally vehicle/machinery to the creditor, thereby delivering possession of
the movable property to the creditor and the creditor in turn delivers back the pledged movable
property to the debtor, to be held in trust and operated by the debtor).

https://indiankanoon.org/docfragment/39679/?formInput=pledge
 Contract of Agency
Russian House, New Delhi Signs Cooperation Agreement with Mari State
University, Russia
Mali State University, one of Russia's leading universities, signed an amazing cooperation
agreement with the Russian House of New Delhi at a special signing ceremony on Wednesday,
September 14, 2022. The cooperation agreement was signed by Professor Shevetsov Mikhail N.,
Rector of Mali State University, and Oleg Osipov, Director of Russian House, New Delhi and
Representative Office of Rossotrudnichestvo, India. The historic cooperation agreement will not
only improve Mali State University's catering to Indian students, but also promote such an
institution internationally.
The signing ceremony was part of the agenda of the 2nd Russian Education Fair 2022, organized
by Rus Education, the exclusive admissions partner of the State University of Mali, India, in
partnership with Russian House, New Delhi. The event was also attended by Professor Syed K., a
prominent member of Rus Education. President Wasim. Air Marshal (Dr) Pawan Kapoor, Vice
Chairman and his Dinesh Singla, PhD Director, thank you for your cooperation.
Mali State University has been a top destination for Indian students for his MBBS in Russia for
decades, with over 1,100 Indian students taking small steps towards their dream careers.
Following the recent announcement by Prof. Shevetsov Mikhail N., Rector of Mali State
University that more than 5,000 Indian medical students will return to Ukraine they will be
enrolled in the university from the first year and transfer students from the first year. This
university has become the first choice for Indian students. I am from Ukraine. The university
president has always made a special effort to understand the needs of his MBBS students in
India.
Oleg Osipov, director of Russian House in New Delhi, addressed participants in a historical
document stating that both Russian House and Mali State University will do their best to create
good facilities for Indian students. Called a cooperation agreement. as the goal of their medical
research, he said: This document can promote Russian educational programs in India and
encourage Indian students to study in Russia, especially in Russia
THANK-YOU