Cheques are a type of bill of exchange and were developed as a way of making payments without the need to carry large amounts of money. A dishonoured cheque cannot be redeemed for its value and is worthless; they are also known as an RDI (returned deposit item), or NSF (non-sufficient funds) cheque. Cheques are usually dishonoured because the drawer’s account has been frozen or limited, or because there are insufficient funds in the drawer’s account when the cheque was redeemed. A cheque drawn on an account with insufficient funds is said to have bounced and may be called a rubber cheque. Banks typically charge customers for issuing a dishonoured cheque, and in some jurisdictions such an act is a criminal action. A drawer may also issue a stop on a cheque, instructing the financial institution not to honour a particular cheque
Statutory Transactions: A Comparative Analysis of the Indian and English Scenario
Statutory transactions are contracts under compulsion of law whereby parties are mandated by executive orders or legal regulations to enter into either contractual relations or contract–like relations. Therefore, it would not be a sale of goods as the consensual element which forms the basis of contract is absent. However, lately there has been a characterization of statutory transactions as consensual contractual arrangements. This reflects the growth of a novel jurisprudence of contract by law distinct from the ordinary contracts by consent of parties, as understood throughout the legal history.
Economic Scams in India
Anonymous Editor’s note: India has been home to several scams post 1992, resulting to losses amounting to lakhs of crores of rupees to the economy. These include, in reverse chronological order, the 2G scam, Satyam Scandal, UTI Scam, Fodder scam, and the Harshat Mehta scam. Scams may be defined as […]
Political Uncertainty And Economic Stability
By Oyshee Gupta (CNLU Patna) & Suhaas Arora (RGNUL Patiala) EDITOR’S NOTE:- The repercussions are most irreparably felt by the economy.Investors usually evaluate the prospects of investment based on the policies of the incumbent governments as well as the possibility of changes in government. For developing nations, the economy is […]
Securitization of a Cross Border Transaction
Editor’s note: Securitization has undoubtedly emerged globally as an important technique for bundling assets and segregating risks into marketable securities. However, when securitization acquires a tendency of becoming transnational, there are several issues which emerge. Let us consider a situation where an Indian company, in order to market its handicapped […]
Front Running: The definition conundrum
Editor’s Note: SAT through the case of Dipak Patel v. SEBI, held that the offence of front running cannot be ascribed to anyone except an ‘intermediary’. This order of SAT was in pursuance of the new FUTP Regulations, 2003 which changed the concept of front running altogether. Did the adjudicating […]
Mandatory Carbon Taxes
By Kanthi Kiran Mamidanna, NALSAR University, Hyderabad “Editor’s Note: Carbon tax is a fee imposed based on the level of carbon in a particular product to discourage the release of greenhouse gases. This paper undertakes an economic analysis of carbon taxes by using the game theory to determine if developing countries […]
Emission Trading Scheme: A Brief Overview and Indian Perspective
By Abhishek Mohanty, WBNUJS Editor’s Note: The concern for controlling the level of pollution in the world has been growing steadily with the increasing urbanization and industrialization. This paper presents an overview of the Emissions Trading Scheme. This scheme become successfully in the early 80’s in America and this became even more successful when emissions trading […]
Corporate Social Responsibility
By Vipul Kumar Tiwari, Jibin Mathew George, Amity Law School, Delhi “Editor’s Note: Corporate Social Responsibility can be defined as the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time. The author has described CSR with related to Companies Act, 2013.” INTRODUCTION […]
Companies Act 2013: New Ideas
By Akshit Mago & Uday Pratap Singh Editors Note: This papers essentially seeks to undertake a critical appraisal of certain new concepts introduced by the Companies Act, 2013 such as One Person Company, Corporate Social Responsibility and Vigil Mechanism. The author have briefly highlighted the positive outcomes and the effect thereon. […]