Chapter

Law and the Economy

Ashutosh Dayal Mathur

in Medieval Hindu Law

Published in print February 2007 | ISBN: 9780195685589
Published online October 2012 | e-ISBN: 9780199081578 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195685589.003.0004
Law and the Economy

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Right from the period of the early sṃrtis, dharma śāstrahas sought to regulate economic transactions and relationships. This chapter notes that the traditional vyvahāra padas covering this area include banking laws, i.e. debts and deposits, gifts, sale and purchase, relations between employers and employees, and joint commercial undertakings. Most of these have been carried forward in the medieval texts which appear to be more market friendly in matters concerning sale and purchase, and debts and deposits, and also show a liberal and sympathetic approach towards issues concerning employees and slaves, and a better understanding of consumer rights. While they expect the contracting parties to enter into contracts with their eyes wide open, they let the law intervene on behalf of those who are cheated or exploited.

Keywords: dharma śāstra; traditional vyvahāra padas; banking laws; slaves; consumer rights

Chapter.  18622 words. 

Subjects: History of Law

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