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Law and Regulatory Framework in India

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Questions and Answers

What is the main purpose of a regulatory framework?

To create uniform rules and regulations for conduct (correct)

To limit the responsibilities of individuals and businesses

To provide benefits to specific groups within society

To ensure freedom in personal and business relationships

Which of the following is NOT a source of law in India?

International treaties (correct)

Constitution of India

Judicial decisions of courts

Statutes made by Parliament/State Assemblies

How does law contribute to society?

By eliminating the significance of customs and usages

By providing a platform for secret agreements

By defining the duties and obligations of citizens (correct)

By allowing individuals to act independently without constraints

Which of the following best reflects the concept of duties in law?

<p>Obligations imposed to protect societal welfare</p> Signup and view all the answers

What does the term 'customs and usages' refer to in the context of law?

<p>Accepted practices that influence legal interpretations</p> Signup and view all the answers

Study Notes

Purpose of a Regulatory Framework

Provides consistent rules and regulations for individuals and businesses.
This ensures fairness and order in relationships.

What is Law?

Defines the responsibilities and obligations set by the government to protect the well-being of society.

Sources of Law in India

Constitution of India: The fundamental legal document that defines the structure and powers of the government.
Statutes: Laws passed by the Parliament (central level) and State Assemblies (state level).
Judicial Decisions: Interpretations of laws by courts, also known as case law or precedents.
Customs and Usages: Traditional practices and behaviors that have developed over time and are recognized as legally binding.

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Description

Explore the essential aspects of laws and the regulatory framework in India through this quiz. Understand the sources of law, including the Constitution, statutes, judicial decisions, and customs. Test your knowledge on how these elements contribute to fairness and order in society.