C. Commercial Laws:
Laws governing commercial relationships and transactions are largely contained in a number of important enactments. The oldest and most important is the Indian Contract Act, 1872, The Sale of Goods Act, 1930 and The Indian Partnership Act, 1932. Additionally, the law relating to negotiable instruments is governed by the Indian Negotiable Instruments Act,1881.
Unfair trade practices, such as the creation of monopolies, are regulated by the Monopolies and Restrictive Trade Practices Act, 1969. The legislation is in the process of being replaced by the Competition Act, 2002. Additionally, consumers are protected by the Consumer Protection Act, 1986.