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Questions and Answers
What is the main purpose of a regulatory framework?
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?
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?
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?
Which of the following best reflects the concept of duties in law?
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What does the term 'customs and usages' refer to in the context of law?
What does the term 'customs and usages' refer to in the context of law?
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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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