Usually, litigation lawyers ought to understand the fundamental principles of law and justice. Within the banking and monetary sectors, the introduction of digital technology for transactions, settlement of accounts, ebook-keeping and all other related functions is now an imperative. More and more, whether or not we prefer it or not, all banking transactions are going to be electronic. The thrust is on commercially necessary facilities, which account for sixty five % of banking enterprise by way of worth. There at the moment are a large number of absolutely computerized branches throughout the country.
The law is useless if it is applied unjustly and unfairly. Justice is finest served when the best possible final result that pleases each parties is achieved. There are enough cases where money prevailed over justice and criminals went on to commit the same offences as the ones they have been charged for in the very starting. So for a legal system to be deemed good it should see to it that justice and equity prevail over another competing pursuits.
Nonetheless, with the unfold of banking and banks, frauds have been on a relentless increase. It may very well be a pure corollary to increase within the number of prospects who are using banks lately. Within the 12 months 2000 alone we’ve got lost Rs 673 crores in as many as 3,072 variety of fraud instances. These are solely reported figures. Although, this is 0.075% of Rs eight,ninety six,696 crores of whole deposits and zero.15% of Rs 4,44,125 crores of loans & advances, there are any numbers of instances that are not reported. There have been practically 65,800 bank branches of a complete of 295 business banks in India as on June 30, 2001 reporting a complete of almost three,072 bank fraud circumstances. This makes almost 10.four frauds per bank and roughly 0.forty seven frauds per department.
The Twenty-ninth Report of the Law Commission had dealt some categories of crimes one in all which is “offences calculated to prevent and obstruct the economic growth of the country and endanger its economic well being.” Offences referring to Banking Fraud will fall below this category. Crucial function of such offences is that ordinarily they don’t involve a person direct victim. They are punishable as a result of they harm the whole society. It is clear that money concerned in Financial institution belongs to public. They deposit there complete life’ safety in Banks and in case of Dacoity or Theft in banks the public will be al misplaced. Thus it is necessary that ample efforts needs to be taken on this regard.
In different legal malpractice cases not involving underlying litigation, conventional rules on damages provide that the shopper could get better all foreseeable damages brought on by the lawyer’s wrongful acts or omissions. And, exemplary damages may be recoverable for lawyer fraud or for different wrongful acts committed with malice.
2. The Disadvantages. Sadly unbundled legal services often lead to value increases somewhat than decreases. From the perspective of an attorney, teaching a litigant to perform a process might be extra time consuming than immediately dealing with the matter. Worse yet, an unpracticed litigant, regardless of an attorney’s assist, will typically unintentionally make errors. The lawyer then spends appreciable client funds trying to fix the unintended errors.
Nevertheless, throughout the same interval, on January 6, another oil firm, Texaco, came into the picture as it publicly announced that Texaco and Getty Oil would merge. Pennzoil protested the proposed merger, and Getty Oil filed a law swimsuit for the court to issue a declaratory judgment that it was not sure by any contract it had with Pennzoil.