"Contracts are the small print of our society, and like all small print, they are written by those who have the power to do so." - Richard Susskind
SADLY, THERE ARE A PLETHORA of unconscionable bargains everywhere: shockingly unfair, morally unjust, blatantly oppressive, and exploitative. Look around you, and you may discover some yourself.
Unconscionability is a legal concept stemming from the equitable principle of fairness in legal relations, whether contractual or otherwise. A contract may be challenged by a party to the same on the grounds that the same is unconscionable, if (i) such a contract contains harsh, oppressive and, therefore, unconscionable terms; or where (ii) the manner in which or the circumstances under which the contract has been entered into or the term thereof has been arrived at by the parties, is one which has caused an unjust advantage to the other party, or a disadvantage to the challenging party. This concept has been recognised by the Law Commission of India, in its 199th Report on Unfair (Procedural & Substantive) Terms in Contract.
Indian Employment Journey
In many organisations, employers coerce their employees (usually freshers anxious to secure their first formal job) to sign an employment bond that generally bars an employee from quitting the organisation, and/or joining some other organisation before she/he completes a certain period. These interns are expected to sign a bond of service. To set the record straight, in India, an employment bond is legal in so far as it prescribes a reasonable penalty in case of violation. More so, if the bond is not for an excessively long period and the amount of such reimbursement is not more than the actual amount spent by the employer on training the employee.
Denne historien er fra February 11, 2023-utgaven av Businessworld India.
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Denne historien er fra February 11, 2023-utgaven av Businessworld India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
