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Undue enrichment is a compound word composed of the phrases “undue” and “enrichment.” If we discuss immorality or injustice, Unfairness is defined as a situation that does not adhere to the rules of justice and justification.

“Unjust” is described as something that is both unjust and not in conformity with the established norms of justice or fairness.

On the other hand, if we are talking about wealth or enrichment, it is claimed that someone has enriched themselves when they get something from someone. Additionally, this prosperity may be both just and unjust. Unless the loss of the other person is adequately made up for, that is, if anything is given in exchange for its loss, this enrichment continues to fall under the category of being unjustified.

What is the meaning of Undue Enrichment?

A restitutionary remedy would be used to return the benefit to its rightful owner, either on the grounds that there has been a complete failure of consideration or via a quantum merit payment for the reasonable value of the performance. In the general field of contracts, undue enrichment typically takes the form of a benefit accruing to one party that, for some reason, may be regarded as belonging to another. These situations are frequently referred to as examples of enrichment via deductions from the claimant. Restitutionary remedies in this situation do not address a party’s failure to meet another party’s contractual obligations.

Instead, they attempt to recover money that was paid out or the value of a benefit received in situations where there is no contract or where there is no longer a duty to perform under an acknowledged contract. As a result, their availability is not solely dependent on whether a contract has been broken; however, in cases where a breach has occurred, the plaintiff will need to choose between a claim for expectation loss and a restitutionary remedy to determine which would offer a higher level of compensation. On the other hand, there may be enrichment, which in some cases may be deemed unjust, when one party benefits from an injustice committed against the other party without taking anything away from that party. In such situations, the question of whether restitutionary damages will be available is raised. 

Element of Undue Enrichment

The main elements of undue enrichment are as follows −

The defendant has been enriched by the receipt of a chúng tôi defendant has been enriched by the receipt of a benefit. The retention of the enrichment be unjust. There is no defence or bar to the claim. It is unethical and illegal act in the eyes of society.

Provisions under the Indian Law

The basis for quasi-contractual responsibilities is the principle of undue enrichment. According to Lord Mansfield, the idea that justice and the law should work to prevent one person from gaining wealth at the expense of another. The type of liability that develops for a person who benefits from it is similar in some ways to tort liability and similar in some ways to contract law. As a result, it can be justified by an implicit contract or under natural justice and equity to avoid undue enrichment. The latter view was more appealing to Lord Mansfield.

Such circumstances are covered under the title “Of Certain Relations Resembling Those Created by Contract” in Chapter V of the Indian Contract Act. Five types of quasi-contractual responsibilities are set out in S. 68–72 −  

Section 68: Claim for necessaries supplied to person incapable of contracting, or on his account

The present section is applicable to persons of unsound mind, minors, and others, if any, who are disqualified from contracting by any law to which they are subject.


This section is applicable only in cases where life’s necessities have been provided to such an incapable person. Necessaries, normally, include articles, which is required to maintain a particular person in the state, degree, and station in life in which he lives. It need to be determined with reference to the fortune and circumstances of that person.

Therefore, whenever a person who is unable to enter into a contract does so and enjoys the needs that result from that contract, they are obligated by law to return those benefits to the claimant. The provision of necessities of life and nothing else will prevent this clause from being applied.

Section 69: Reimbursement of person paying money due by another in payment of which he is interested

This section lays down a wider rule than appears to be supported by any English authority. The idea behind this provision is that if one person is obligated to make a payment and another person who is not obligated but has an interest in the payment being made and pays up to protect it is entitled to repayment from the person who was initially obligated to make the payment. The requirements for culpability under this clause might be summed up as follows

The plaintiff must be motivated to make the payment. Obviously, the plaintiff’s interest must be one that is legally discernible. It is sufficient that he really believes he has interests to safeguard.

It is essential that the plaintiff himself not be obligated to pay.

The defendant ought to have been required by the law to make the payment. When someone owes someone money only morally and not legally, they are not obligated to repay the person who fulfills their moral responsibility.

The plaintiff ought to have paid the other party instead of keeping the money for himself.

Therefore, the undue enrichment principle forbids the defendant from unfairly benefiting himself to the point where he would be obligated to reimburse the claimant for the sum that was paid on his behalf but not at his instruction.

Section 70: Obligation of person enjoying benefit of non-gratuitous act

Section 70 creates a liability to pay for the benefits of an act that the doer did not intend to do gratuitously, following the conditions

The person who did the act should have done it without any intention of doing it gratuitously. He should have contemplated being paid from the very beginning.

The person for whom the act is done is not bound to pay unless he has the choice to reject the services. The services so rendered should be without request.

The services should be lawfully rendered. Here, a point must be noted that some lawful relationship must exist between the person claiming for compensation and the person against whom it is claimed. Furthermore, it should arise by reason of the fact that what has been done by the former has been accepted and enjoyed by the latter.

Section 71: Finder of goods

The responsibilities of a finder of items are outlined in this section. In essence, it implies that if someone finds anything that belongs to someone else, they must care for it as the owner’s bailee under the law. In other words, to treat it as his own and give it back to its rightful owner upon request. When a person finds someone else’s possessions, the idea of undue enrichment is therefore applied.

Section 72: Liability of a person to whom money is paid, or thing delivered, by mistake or under coercion

If money is paid to or a thing is delivered to a person under coercion or mistake, he must repay or return it. Thus, if A and B jointly owe a sum of money to C, and A pays it, and thereafter, not knowing of A’s payment, B also pays the same amount to C, C must repay the amount to B.


The Judicial Committee had established that the definition of “coercion” in Section 15 is not controlling and that the word is employed in this section in its wide and ordinary sense. As a result, when Z, who had obtained a decree against Y, obtained an attachment against W and took possession of his property to obtain satisfaction for the amount of the decree, and W paid the amount claimed under protest after being evicted from his property, W was held entitled to recover the amount as money paid under coercion in accordance with this section.

If a person accused of a non-compoundable crime is persuaded to pay money to the complainant in order to thwart the prosecution, he may be able to get that money back under this section.

Defenses of Undue Enrichment

In cases where a restitution ground has been established, relief will nonetheless be refused if a recognized defense or bar applies. If the claimant is estopped, the defendant cannot be put back in his prior position, or if public policy prohibits repayment, restitution will be refused. In the location where the benefit was given, it is also denied

As a valid gift. Pursuant to valid common law, equitable or statutory obligation owed by the claimant to the defendant. By the claimant while performing an obligation owed to a third party. In submission to an honest claim, under process of law or a compromise of a disputed claim. By the claimant acting “voluntarily” or “officiously”.


Undue enrichment is not based on a written agreement. When there is no written or verbal contract to back up their request for remedies, plaintiffs typically turn to the remedy of undue enrichment. In some situations, parties to a lawsuit urge a court to identify an implicit contract, or fake connection, hat was formed by the law to serve justice in a particular case.

In some other cases, undue enrichment is an appropriate remedy for parties who have made a legally binding agreement, but whose performance by one party goes beyond the specific terms of the contract. Therefore, endue enrichment is a versatile remedy that gives courts significant flexibility in distributing benefits and losses among the parties as equality, fairness, and justice require.

Frequently Asked Questions

Q1. What is an example of undue enrichment?

Ans. A painter who paints someone’s home is a prime example of undue enrichment. The painter may walk outside and paint the defendant’s home, providing the defendant with a benefit in the form of fresh paint.

Q2. Who has the burden to prove undue enrichment?

Ans. In order to succeed on an undue enrichment claim, the plaintiff must demonstrate that the defendant unfairly benefited from the plaintiff’s loss. Therefore, the plaintiff has the burden of proof.

Q3. When a person can sue for undue enrichment?

Ans. In English law, a claim for undue enrichment must satisfy four requirements −

The defendant had to benefit;

The benefit must have come at the expense of the claimant;

There must be an unfair factor that is significant; and

There must be no adequate defenses.

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What Is Business Intelligence? Bi Definition, Meaning & Example

What is Business Intelligence?

BI(Business Intelligence) is a set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions. It is a suite of software and services to transform data into actionable intelligence and knowledge.

BI has a direct impact on organization’s strategic, tactical and operational business decisions. BI supports fact-based decision making using historical data rather than assumptions and gut feeling.

BI tools perform data analysis and create reports, summaries, dashboards, maps, graphs, and charts to provide users with detailed intelligence about the nature of the business.

In this tutorial, you will learn-

Why is BI important?

Measurement: creating KPI (Key Performance Indicators) based on historic data

Identify and set benchmarks for varied processes.

With BI systems organizations can identify market trends and spot business problems that need to be addressed.

BI helps on data visualization that enhances the data quality and thereby the quality of decision making.

BI systems can be used not just by enterprises but SME (Small and Medium Enterprises)

How Business Intelligence systems are implemented?

Here are the steps:

Step 1) Raw Data from corporate databases is extracted. The data could be spread across multiple systems heterogeneous systems.

Step 2) The data is cleaned and transformed into the data warehouse. The table can be linked, and data cubes are formed.

Step 3) Using BI system the user can ask quires, request ad-hoc reports or conduct any other analysis.

Examples of Business Intelligence System used in Practice

Example 1:

In an Online Transaction Processing (OLTP) system information that could be fed into product database could be

add a product line

change a product price

Correspondingly, in a Business Intelligence system query that would beexecuted for the product subject area could be did the addition of new product line or change in product price increase revenues

Increase radio budget

Correspondigly, in BI system query that could be executed would be how many new clients added due to change in radio budget

In OLTP system dealing with customer demographic data bases data that could be fed would be

increase customer credit limit

change in customer salary level

Correspondingly in the OLAP system query that could be executed would be can customer profile changes support support higher product price

Example 2:

A hotel owner uses BI analytical applications to gather statistical information regarding average occupancy and room rate. It helps to find aggregate revenue generated per room.

It also collects statistics on market share and data from customer surveys from each hotel to decides its competitive position in various markets.

By analyzing these trends year by year, month by month and day by day helps management to offer discounts on room rentals.

Example 3:

A bank gives branch managers access to BI applications. It helps branch manager to determine who are the most profitable customers and which customers they should work on.

The use of BI tools frees information technology staff from the task of generating analytical reports for the departments. It also gives department personnel access to a richer data source.

Four types of BI users

Following given are the four key players who are used Business Intelligence System:

1. The Professional Data Analyst:

The data analyst is a statistician who always needs to drill deep down into data. BI system helps them to get fresh insights to develop unique business strategies.

2. The IT users:

The IT user also plays a dominant role in maintaining the BI infrastructure.

3. The head of the company:

CEO or CXO can increase the profit of their business by improving operational efficiency in their business.

4. The Business Users”

Business intelligence users can be found from across the organization. There are mainly two types of business users

Casual business intelligence user

The power user.

The difference between both of them is that a power user has the capability of working with complex data sets, while the casual user need will make him use dashboards to evaluate predefined sets of data.

Advantages of Business Intelligence

1. Boost productivity

2. To improve visibility

BI also helps to improve the visibility of these processes and make it possible to identify any areas which need attention.

3. Fix Accountability

BI system assigns accountability in the organization as there must be someone who should own accountability and ownership for the organization’s performance against its set goals.

4. It gives a bird’s eye view:

BI system also helps organizations as decision makers get an overall bird’s eye view through typical BI features like dashboards and scorecards.

5. It streamlines business processes:

BI takes out all complexity associated with business processes. It also automates analytics by offering predictive analysis, computer modeling, benchmarking and other methodologies.

6. It allows for easy analytics.

BI software has democratized its usage, allowing even nontechnical or non-analysts users to collect and process data quickly. This also allows putting the power of analytics from the hand’s many people.

1. Cost:

Business intelligence can prove costly for small as well as for medium-sized enterprises. The use of such type of system may be expensive for routine business transactions.

2. Complexity:

Another drawback of BI is its complexity in implementation of datawarehouse. It can be so complex that it can make business techniques rigid to deal with.

3. Limited use

Like all improved technologies, BI was first established keeping in consideration the buying competence of rich firms. Therefore, BI system is yet not affordable for many small and medium size companies.

4. Time Consuming Implementation

It takes almost one and half year for data warehousing system to be completely implemented. Therefore, it is a time-consuming process.

Trends in Business Intelligence

The following are some business intelligence and analytics trends that you should be aware of.

Artificial Intelligence: Gartner’ report indicates that AI and machine learning now take on complex tasks done by human intelligence. This capability is being leveraged to come up with real-time data analysis and dashboard reporting.

Collaborative BI: BI software combined with collaboration tools, including social media, and other latest technologies enhance the working and sharing by teams for collaborative decision making.

Embedded BI: Embedded BI allows the integration of BI software or some of its features into another business application for enhancing and extending it’s reporting functionality.

Cloud Analytics: BI applications will be soon offered in the cloud, and more businesses will be shifting to this technology. As per their predictions within a couple of years, the spending on cloud-based analytics will grow 4.5 times faster.


BI is a set of processes, architectures, and technologies that convert raw data into meaningful information that drives profitable business actions.

BI systems help businesses to identify market trends and spot business problems that need to be addressed.

BI technology can be used by Data analyst, IT people, business users and head of the company.

BI system helps organization to improve visibility, productivity and fix accountability.

The draw-backs of BI is that it is time-consuming costly and very complex process.

Definition, Types, Precedence And Examples

What are Operators in C?

The C programming language utilizes operators as symbols representing precise operations to be executed on one or more operands. C provides a wide range of operators that can perform arithmetic, logical, and bitwise operations and operations on pointers and arrays. Operators are symbols that help in performing functions of mathematical and logical nature. The classification of C operators is as follows:








Even though there are many operators, the execution of these operations happens based on the precedence given to them. Precedence is the order in which the compiler executes the code comprising numerous operators.

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Explanation of Operators in C

Below is a detailed explanation of operators in C:

#1 Arithmetic Operators

These operators are responsible for performing arithmetic or mathematical operations like addition (+), subtraction (-), multiplication (*), division (/), the remainder of the division (%), increment (++), and decrement (–).

There are two types of arithmetic operators:

Unary Operators: This type of operator works with a single value (operand) like ++ and –.

Binary Operators: This type of operator works with two operands like +,-,*,/

Here is a tabular form of the number of arithmetic operators in C with the functions they perform.

Operator Function

+ Adds two values

– Subtract a second value from the first.

* Multiply two values

/ Divide numerator by the denominator

% Remainder of division

++ Increment operator – increases integer value by one.

— Decrement operator – decreases integer value by one

int main() { int a = 12, b = 6, c; c = a + b; printf(“a+b = %d n”, c); c = a – b; printf(“a-b = %d n”, c); c = a *b; printf(“a*b = %d n”, c); c = a / b; printf(“a/b = %d n”, c); c = a % b; printf(“Remainder when a divided by b = %d n”, c); return 0; }


#2 Relational Operators

The below table lists the relational operators in C with their functions.

Operator Function Example

== It will check if the two operands are equal 6 == 2 returns 0

!= It will check if the two operands are not equal. 6 != 2 returns 1

> It will check if the operand on the left is greater than the operand on the right

< It will check if the operand on the left is smaller than the right operand 6 < 2 returns 0

>= It will check if the left operand is greater than or equal to the right operand

<= It will check if the operand on the left is smaller than or equal to the right operand 6 <= 2 return 0

Example: C Program using relational operators

int main() { int a = 7, b = 7, c = 10; printf(“%d == %d = %d n”, a, b, a == b); printf(“%d == %d = %d n”, a, c, a == c); printf(“%d < %d = %d n”, a, b, a < b); printf(“%d < %d = %d n”, a, c, a < c); printf(“%d != %d = %d n”, a, b, a != b); printf(“%d != %d = %d n”, a, c, a != c); printf(“%d <= %d = %d n”, a, b, a <= b); printf(“%d <= %d = %d n”, a, c, a <= c); return 0; }


#3 Logical Operators

Logical Operators are to get True or False results.

The table below lists the logical operators used in C

Operator Function Example (if a=1 and b=0)

&& Logical AND (a && b) is false

|| Logical OR

! Logical NOT (!a) is false

Example: C Program using logical operators.

int main() { int a = 8, b = 8, c = 12, result; result = (a == b) && (c < b); printf(“(a == b) && (c < b) equals to %d n”, result); result = !(a != b); printf(“!(a == b) equals to %d n”, result); result = !(a == b); printf(“!(a == b) equals to %d n”, result); return 0; }


#4 Bitwise Operators

These operators are for bit-level operations on the operands. The operators first convert into bit-level and then perform the calculations.

Operator Function

& Bitwise AND

| Bitwise OR

^ Bitwise exclusive OR

~ Bitwise complement

<< Shift left

>> Shift right

Example: C program for Bitwise AND

int main() { int a = 10, b = 8; printf(“Output = %d”, a&b); return 0; }



00001010 & 00001000 = 00001000 = 8 (In decimal)

#5 Assignment Operators

These types of operators help us assign a value to a variable.

Operator Function Example

= It will assign values from right-side operands to left-side operands a=b

+= It will add the right operand to the left operand and assign the result to left a+=b is the same as a=a+b

-= It will subtract the right operand from the left operand and assign the result to the left operand a-=b is the same as a=a-b

*= It will multiply the left operand with the right operand and assign the result to the left operand a*=b is the same as a=a*b

/= It will divide the left operand with the right operand and assign the result to the left operand a/=b is the same as a=a/b

%= It will calculate the modulus using two operands and assign the result to the left operand a%=b is the same as a=a%b

#6 Conditional Operators

Also, known as Ternary Operator or? : Operator, these operators are useful for decision-making.


Expression 1? Expression 2: Expression 3 #7 Special Operators

Here are some special operators used in C

Operator Function

& This operator is used to get the address of the variable.

Example: &a will give an address of a.

* This operator works as a pointer to a variable.

Example: * a where * is a pointer to the variable a.

size of () This operator gives the size of the variable.

Example: The size of (char) will give us 1.

Example: C program using a special operator

int main() { int *ptr, q; q = 40; /* It assigns the address of q to ptr */ ptr = &q; /* display q’s value using ptr variable */ printf(“%d”, *ptr); return 0; }


C Operators Precedence

Generally, arithmetic, logical, and relational operators are used while coding in C. The precedence for these operators in arithmetic is greater than logical and relational. Note that all the operators in arithmetic also follow a different order of precedence. Let’s check which operators hold the highest precedence.

Order of Precedence in Arithmetic Operators

The increment and decrement (+ + and – -) operators hold the highest precedence in arithmetic operators. After that next precedence is for the unary minus ( – ) operator; next, three operators, /, *, and %, have equal precedence. The lowest precedence is for the operators like addition ( + ) and subtraction ( – ). In case of equal priority, the compiler takes charge while evaluating them. Remember the C operator associativity rule for all operators with the same precedence. Then the execution happens from left to right.

For example,

int main() { int a = 15, b = 20, c = 32, result; result = a * b – ++c; printf(“The result is: %d”, result); return 0; }


Explanation: Here, in the given equation, first, “++” executes; hence the value of c will be 33. Next, “* “holds the highest precedence after “++.” Hence after the execution of “a * b,” the result will be 300. Then the execution of “-” happens and results in 267.

Order of Precedence in Relational/Logical Operators

For example,

Output: False

Misc Operators in C

The Misc operators or miscellaneous operators are conditional operators that include three operands. In these 3, the execution of the first operand happens first. Then the execution of the second operand, if it is non-zero, or a third operand executes to provide the necessary Output. Besides the operators discussed above, C programming language supports a few other special operators like sizeof and “?:”.

Operator Description Example

sizeof() Finds the size of a variable sizeof(b), if b is an integer, then the Output will be 4.

?: Conditional operator Condition? X: Y; here, if the condition is true, the result will be X, else Y.

& Address of a variable &a returns the actual address

* Pointer *a

Time and Space Complexity

Time and space complexity are the terms concerning the execution of an algorithm. The Time complexity is the time taken to run the algorithm as a function of the input. Space complexity is the space or memory the algorithm takes as an input function. These two terms depend on many terms like processor, operating system, etc.

Final Thoughts

C operators are the symbols used to perform relational, mathematical, bitwise, or logical operations. C language includes a lot of operators to perform various tasks as necessary in the program. Different kinds of operators are arithmetic, logical, and relational.

Frequently Asked Questions (FAQS)

Q1. What are the boolean operators in C?

Q2. What does ** mean in C?

Answer: The “**” in C is a double-pointer or pointer-to-pointer. Where * is a pointer that holds the address of the variable. ** mean the address of a variable already holding an address of a different variable.

Q3. What is the difference between prefix and postfix operators in C?

Answer: Prefix and postfix are the operators written before and after the operands. These operators are the increment (+ +) and decrement (- -) operators. For example, “++c” is the prefix operator, and “c++” is the postfix operator.

Q4. What is the Modulus operator?

Answer: The modulus operator is the arithmetic operator of C, and it works between two operands. The division of the numerator value by the denominator results in the remainder. In simpler words, the produced rest for the integer division is the modulus operator.

Q5. Does C language support operator overloading?

Answer: Operator overloading is a method of polymorphism where the programmer makes specific changes in the existing code without changing its meaning. Operator overloading is possible only in C++. Since polymorphism is possible only in an object-oriented language, C doesn’t support operator overloading.

Recommended Articles

This EDUCBA guide to C Operators discusses the operators used in C language with their syntax and examples. EDUCBA also suggests the following articles to learn more.

Transactional Law: Meaning And Significance

A transactional lawyer, often known as a “business lawyer,” can structure complicated commercial real estate agreements, make wills and trusts, and negotiate and draft contracts. Transactional attorneys can represent both businesses and people.

What is Transactional Law?

Transactional legal work involves many different elements of business operations. This includes sales, acquisitions, and mergers. All types of professional transactions fall under this area of legal expertise. When compared to litigation practice, transactional practice typically entails handling legal issues out of court.

Transactional Law Across Jurisdictions

Transactional law practice is notable for the extent to which uniform laws and model acts control policy. The Uniform Commercial Code, enacted in every state, is an obvious example, covering sales of goods, negotiable instruments, bank deposits, and secured transactions, among other things. Other important uniform laws are those governing trade secrets, agencies, and the many varieties of partnerships.

Practice Areas of Transactional Law

Following are the major practice areas of transactional Law −

Securities Law − Stocks, bonds, and options are known as securities. Transactions involving securities are regulated by both federal and state law. At the federal level, there are six essential securities acts as well as numerous regulations and proposed regulations promulgated under their authority by the SEC. Businesses must follow the applicable law on registration of securities, financial reporting, and disclosure of the purchase or sale of securities by company insiders. The law that regulates securities is one of the most complex in the legal field.

Securities are bought and sold through two types of transactions− issuer transactions and trading transactions. An issuer transaction occurs when a business sells an interest in the company to raise capital. One example of this is an initial public offering, or IPO. Trading transactions occur between investors and involve securities that already exist. Trades that occur on a stock market are trading transactions.

The SEC generates several unique types of primary law documents. Regulatory actions taken by the agency include Interpretive Releases, Concept Releases, Policy Statements, and Exemptive Orders. In response to an enforcement action, the commission’s administrative law judges hold hearings and issue decisions on alleged securities law violations.

Corporate Governance and M&A − Corporate formation, record−keeping, accounting, decision−making, and combination often involve legal counsel, especially in large corporations. The primary authorities governing these areas of corporate conduct are varied, and can overlap with securities laws, banking and finance law, employment law, intellectual property law, and tax law. Several federal statutes are designed to prevent fraud and abuse in accounting and in corporate mergers and acquisitions.

The majority of M&A activity takes place at large and medium−sized businesses. Large businesses frequently concentrate on buying and selling public enterprises. These are typically the largest and most complicated transactions, frequently transcend international borders, and may include cash or equity considerations.

Banking and Finance Law − Banking and finance law addresses the organization, ownership, and operation of banks and depository institutions, mortgage banks, other providers of financial services regulated or licensed by state or federal banking regulators, and holding companies (“bank and other financial organizations”). It also covers representation of bank and other financial organizations in lending transactions to borrowers and compliance with consumer and other laws involving all aspects of financial services provided by bank and other financial organizations.

A bank is a financial institution that provides banking and other financial services to their customers. A bank is generally understood as an institution which provides fundamental banking services such as accepting deposits and providing loans. Banks are a subset of the financial services industry.

Intellectual Property Law − The property which comes into existence by application of human intellect is termed as Intellectual Property. Intellectual Property relates to information which can be incorporated in tangible objects and reproduced in different locations. Intellectual property rights protect the interests of creators by giving them property rights over their creations.

Intellectual Property is intangible, that is, it cannot be defined or identified by its own physical parameters. Intellectual property law includes copyright law, patent law, trademark law, and the law protecting trade secrets. It is quite a broad topic, and some even doubt the utility of categorizing these areas as “intellectual property.” That said, each area has its own regulatory structure and specialized resources.

Tax Law − The word tax is based on the latin word taxo, which means to estimate. To tax means to impose a financial charge or other levy upon a taxpayer, an individual or legal entity, by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxation is a payment from natural persons or legal entity and it is levied by government, for which no goods or services is received directly in return, so taxes is that amount of money, the people pay which is not related directly to the benefit of people obtained from the provision of a particular goods or services. Objectives of taxes have been developed when the functions of the Government are developed. In the primitive communities a member has to pay his share to the Head of the tribe, who in return provided them with administration, security from foreign aggression and other civic amenities. But today taxation besides being the main resource for supporting government has become a tool for economic growth, social welfare; attract foreigner investment, economic stability, and income distribution.


The term “transactional law” is a comprehensive term that incorporates corporation law, business law, etc. Thus, transactional processes entail gathering information, putting together documents, and analysing them for transactions at all levels involving both people and businesses. Lawyers who practice in such a transactional field, usually, do not go to court.

Frequently Asked Questions

Q. What falls under “transactional work”?

Q. What kinds of laws govern transactions?

The practise areas covered by transactional law include −

Acquisitions and mergers, business buying and selling, corporate transactions, intellectual property estate planning, employment−related business transactions, and real estate purchases and sales

Q. What distinguishes transactional law from litigation?

Litigation attorneys are necessary for lawsuits trying to succeed in court, whereas transactional attorneys work to reconcile parties and prevent further disputes. They evaluate any potential claims made by their client(s).

Q. What is the meaning of “transactional legal documents”?

Precedents (example agreements and contracts), forms, checklists, timetables, and practise notes are all included in the transactional law tools. Contracts and agreements with a history of application in past transactions are called precedents.

Q. What exactly is a “Transaction Services Agreement (TSA)?”

A transaction services agreement, sometimes known as a “TSA,” is a binding legal document signed by the buyer and the seller of a business in which the seller commits to offering the buyer particular services following the sale of the business.

Behavioral Pricing: Meaning And Strategy

For decades, psychologists and sociologists have questioned conventional finance and economics notions, suggesting that people are not rational utility-maximizing actors and that markets are inefficient in the real world. To address these issues, behavioral economics emerged in the late 1970s, gathering extensive data on individuals acting “irrationally” daily. Hence, it is established with input from psychology and finance, aiming to better explain numerous baffling facts in stock markets. It is a branch of finance that provides ideas based on psychology to explain the underlying dynamics of asset purchasing and selling behavior.

Behavioral Pricing

Behavioral pricing is a method of setting prices based on consumer behavioral patterns. Analyze large amounts of relevant data to reveal consumer behavior patterns. It is also part of the larger field of behavioral economics. Traditional price theory assumes that rational variables influence buyer behavior. Customers get complete price information, and every customer’s choice is obvious. Consumers choose a value (product) and expect this purchase to maximize their profit from that product. Customers sometimes respond differently, and such cost-benefit models need to consider that. They behave differently from the assumptions of classical price theory. Evaluate prices based on various criteria, including the manufacturer’s reputation and your own money. They also behave unpredictably. You can stop searching for products and continue later. I need to improve at remembering prices or comparing them accurately.

So pricing depends on many factors. There are many aspects to pricing, and rational considerations are just one of them. In classical theory, behavioral, emotional, and primarily cognitive factors have little influence. This study focuses on subjective aspects to better understand how customers price products. It is a form of price discrimination. Price discrimination aims to increase profits by changing the price paid by different consumers depending on information about the customer.

Evaluation of Pricing Information

Consumer attitudes, perceptions, and interpretations of factual information flow into evaluation. In some cases, it may also contain other information unrelated to the product. B. Changes in financial circumstances.

Respond to Price Information

This action can be purchased, not purchased, or deferred. In deferral, the process starts again, and consumers may remember the price they first saw.

The Ideas Behind Behavioral Pricing Behavioral Pricing Strategies

Major strategies are −

Price Point

The Cambridge Dictionary defines a price point as “the possible price scale point of a product.” Among behavioral economists, a price point is a specific retail price determined by market power. From a psychological point of view, this means demand-related prices that businesses may fear. Price points are based on the observation that consumers can only determine a fair price when viewed in context.

Price Threshold Power

The threshold can be considered a specific zone determining whether a customer is willing to pay for a product. Using price thresholds is critical to maximizing existing margins while retaining customers. It is a perfect balance.

The Three Options Principle

Providing multiple options is always a good thing. If you have a cheap and expensive option, always offer an intermediate option between the two. In this Ted Talk on behavioral economics, the speaker details this phenomenon.

The Nudge Effect

Behavioral pricing can guide consumers to the products they want to sell. Consider encouraging customers with labels like “best buy for the price” and “hot deals” to create a sense of urgency and great deals.

Price is Rounded just below

Traditional microeconomic theory portrays the typical demand curve for a product as linear and right-sloping. However, modern research recognizes that when prices fall slightly below integers, customers may be more willing to pay, creating a segment with a positive slope in the demand function.

Principles of Framing, Congruence, Context, and Signaling

Framing principles are based on how to highlight product functionality in a way that is positively perceived. The most common concept is associating “free” with an offer. In his study, Larson concluded that offering accessible units generates more demand than the corresponding discounts. Pricing in multiple increments instead of a single price may be a better strategy.

The context principle is tied to the information people store about items. The appeal of a mid-range product can be enhanced by adding a third option. So if the desired option is extreme, people may lose interest. Another frequently used contextual principle is first to reveal the most attractive items (product ordering) and lock prices. Sell bundles by changing the price of individual items. The signal principle relates to the visual and psychological message a company wants to send. The most commonly used signaling principle is just below the pricing, usually using a number ending in 9 or 5, depending on the number of digits. Other signals can be sent by adjusting price color, symmetry, order, and length. Discounts can also be displayed as percentages or absolute amounts, whichever is more effective.

Applications of Behavioural Pricing

The Capital Asset Pricing Model (CAPM) and the Efficient Market Hypothesis (EMH) are logical and sensible assumptions. These ideas believe that most individuals behave logically and predictably. According to theoretical and empirical data, CAPM, EMH, and other rational theories, they have accomplished a fine and praiseworthy job of anticipating and explaining specific occurrences.

Nevertheless, as time passed, experts in finance and economics began to notice anomalies and behaviors that could not be explained by the theories of the time. While these ideas may explain some ‘idealized’ occurrences, the actual world proved complicated with unpredictable market participants. As a result, humans are only sometimes rational, and markets are always efficient. Behavioral finance explains why individuals do not always make the anticipated judgments and why markets do not always behave as predicted.


Behavioral pricing helps us understand what motivates people to buy products and avoid others. Knowing how to differentiate can mean the difference between a successful and unsuccessful pricing strategy. Prices are typically valued against a reference price that a company’s behavioral marketing decisions can partially influence. A reference price is not a specific price but a range that may constantly evolve as new information is registered. Therefore, the base price has upper and lower bounds, and price changes do not change perceptions.

The Berne Convention: Meaning And Application

Held in 1886 in the Switzerland’s city of Bern, the Berne Convention is an international treaty that was established to safeguard the rights of authors and artists who contributed to the creation of works such as books, songs, and paintings. In some circles, it is also referred to as the Berne Convention for the Protection of Literary and Artistic Works. The international community drafted and symphonically adopted a multi-party contract encompassing agreements for a uniform, crossing border system. However, after adoption of this agreement, its rules have been amended and updated several times.

Parties of the Berne Convention

At present, there are 181 parties of the Berne Convention; however, in the beginning, the Convention treaty was signed by only France, Germany, Belgium, Switzerland, Italy, the United Kingdom, Liberia, Spain, Tunisia, and Haiti on 9 September 1886 and they ratified it on 5 September 1887.

In the beginning, the United States of America refused to be a part of the convention, as its provisions were not in the harmony with the United States’ copyright law. But after hundred years, the United States assented to the convention on 16 November 1988, and the convention came into force on 1 March 1989.

Objectives of Berne Convention

The primary objective of the Berne Convention is to guarantee that the creators of literary and artistic works will be able to receive appropriate protection for their works and will also be able to make a profit from their efforts. The Convention grants the creators of these works a number of rights, one of which is the authority to exercise some degree of control over the reproduction, distribution, and public performance of their works. It also protects these rights in other countries, making it possible for authors to profit from their creations even when those creations are used in other nations.

The United Nations’ World Intellectual Property Organization (WIPO) is in charge of the administration of the Berne Convention on the Law of Intellectual Property. It is one of the international treaties that has been adopted in the most countries all over the world, making it one of the most important in the field of intellectual property. Over the course of its history, the Convention has undergone a number of iterations of revision in order to take into account developments in technology as well as the requirements of creators. It continues to be an important tool for protecting the rights of writers and artists all over the world whose works are published.

A Brief Overview of the History of the Berne Convention

At a conference held in Berne, Switzerland, in 1886, the Berne Convention for the Protection of Literary and Artistic Works was officially approved for the first time. The conference was organised by the Federal Government of Switzerland, and it was attended by representatives from a large number of European countries in addition to those from the United States.

Because there were no international standards or procedures in place at the time, it was very difficult for creators to protect their rights in other countries during that time period. The Berne Convention attempted to find a solution to this problem by drafting a number of guidelines designed to safeguard the intellectual property rights and copyrights of content developers.

The principle of national treatment is one of the fundamental principles that underpin the Berne Convention. It mandates that authors and artists of works of literature and art should be afforded the same degree of legal protection in other countries as they are in the country in which they reside. This means that if a piece of work is copyright protected in one country, it must also be protected in all other countries that have ratified the Convention on the Protection of Literary and Artistic Works in the United States.

Dates and Events of Berne Convention

In later years, some amendments have been done to improve the effectiveness of the convention as:


Berne convention

Protection of artistic and literary work


Alterations were made

How did the Berne Convention affect the Copyright?

The Berne Convention for the Protection of Literary and Artistic Works (also known as the Berne Convention) has had a significant impact on the law governing copyright and the protection of intellectual property rights. The Convention has had a significant impact on copyright in a number of significant ways. One of these ways is by establishing a minimum term of protection for works of literature and art. In accordance with the Convention, the minimum term of protection for these works is at least fifty years after the author has passed away. This indicates that after an artist’s death, their works continue to be protected by copyright for a predetermined amount of time, during which time they cannot be reproduced or distributed without the permission of the person who holds the copyright.

The Berne Convention has also attempted, through the establishment of the principle of automatic protection, to protect the originality of a creator’s work. According to this principle, the legal protection afforded to literary and artistic works is automatic and does not call for their registration or any other kinds of formalities. This signifies that as soon as a work is created, it is protected by copyright, and the creator of the work has certain rights regarding the use of their work.

Significance of Berne Convention

The protection of works and the rights of their authors is the topic of discussion in the Berne Convention. It is founded on three fundamental principles and has a set of rules that determine the minimum protection that is to be offered. Additionally, it contains exceptional provisions that are available to developing countries that desire to make use of them.

The following are the Three Foundational Tenets

Works originating in one of the Contracting States (that is, works the author of which is a national of such a State or works first published in such a State) must be given the same protection in each of the other Contracting States as the latter grants to the works of its own nationals (principle of “national treatment”). This means that works in which the author is a national of such a State or works in which the first publication took place in such a State.

Protection shall not be conditional upon compliance with any formality (automatic protection concept).

Protection is not contingent on there being a system of protection in place in the nation where the work was created (principle of “independence” of protection).

If, on the other hand, a Contracting State provides for a longer duration of protection than the minimum term provided by the Convention, and the work ceases to be protected in the country of origin, protection may be denied once protection in the country of origin stops.

Exceptions and Limitations

The Berne Convention that defines and grants an exclusive right to writers and artists against their unique and creative works, also describes certain exceptions and limitations. For example, Article 10(2) of the convention excuses “the use of such protected work for the teaching purpose”. However, the exception is limited to a use for illustration of the subject matter taught and it must be related to teaching purpose only and strictly not for the commercial purpose.


The Berne Convention mandates that all members must have specific levels of copyright protection, and that those countries must also protect the works that were created by people of other member states. Works that have been granted copyright are regarded as being protected as soon as the work is brought into existence in a physical form, and registration of the work is not required. Individual members, such as the United States, have the right to demand that their own citizens’ works be registered in order to receive legal protection, but in general, members are not permitted to demand registration of works produced by people of other countries.

The Berne Convention sets a large number of additional provisions that are necessary for the cooperation of copyright laws across international borders. For instance, members are expected to provide writers control over reproduction of the work and to safeguard copyrighted works for a set number of years depending on the type of work.


Q1. What are the basic principles of Berne Convention?

Ans. Following are the major principles of Berne Convention:

National treatment: As per the agreement, the signatory States agree to give foreign works the same protection as the works originating in their own country.

Automatic protection: The protection set out in the signatory states’ legislation does not require any formalities or notifications.

Q2. Why did US not join Berne Convention?

Ans. The reason that the U.S. refused to join the Berne Convention previously was –the United State had to change its copyright laws and the required registration and mandatory notice of copyright.

Q3. What countries are not in the Berne Convention?

Ans. There are just four least developed countries that are not members of WIPO or the Berne Convention. These are the Solomon Islands, South Sudan, Timor-Leste and Tuvalu. These four countries have a population of 12 million.

Q4. Is Russia in Berne Convention?

Ans. Russia Withdraws Reservations to Berne Convention Provisions in 2013.

Q5. How many countries were in the Berne Convention in 1886?

Ans. Berne Convention, was an international assembly held in 1886 in the Swiss city of Bern by ten European countries with the goal to agree on a set of legal principles for the protection of original work.

Q6. Is the Berne Convention binding?

Ans. The Berne Convention, like most treaties, is binding on the states that have ratified it or acceded to it.

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