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LEGAL ASPECTS OF BUSINESS UNIT 1 | MBA VIRTUAL GROUP STUDY Finding the basics of Law confusing? This session by Online MBA Buddies breaks down the fundamental nature of law and the Indian Legal System in a simple, practical way. Understanding the "Law of the Land" is the first step for any management professional. Law isn't just about rules; it's about maintaining social order and ensuring that business transactions are conducted fairly. For an MBA student, knowing the sources of law—whether it’s the Constitution, Judicial Precedents, or Customary Law—is essential for understanding the framework within which every Indian business operates. In this session, Unit 1 is covered in detail, including: • Characteristics & Purpose of Law: Why we need rules and how they are enforced. • Sources of Indian Law: The role of the Constitution, Statutes, and "Common Law." • Justice, Equity & Good Conscience: Understanding the guiding principles behind judicial decisions. • Law Merchant (Lex Mercatoria): How ancient merchant customs shaped modern commercial laws. 📘 Syllabus aligned with IGNOU, Amity, SMU & top universities 🤝 Live group study with doubt-solving 🎯 Exam-oriented explanations 👉 Watch till the end for complete Unit 1 clarity and exam readiness.