Legal Associate

Legal Associate Interview Questions and Answers for Freshers

Updated 28 Oct 2024
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Q1. What is term termination

Ans.

Termination refers to the end of a legal agreement or contract.

  • Termination is the conclusion or ending of a legal relationship between parties.

  • It can occur due to completion of the agreed upon terms, breach of contract, or mutual agreement.

  • Examples include the termination of an employment contract, lease agreement, or partnership agreement.

Q2. Procedure of 138 NI act

Ans.

Procedure of 138 NI act

  • Section 138 of the Negotiable Instruments Act deals with dishonor of cheques

  • The procedure starts with issuing a legal notice to the defaulter

  • If the defaulter fails to make the payment within 15 days of receiving the notice, a complaint can be filed in the court

  • The court will then issue summons to the defaulter and conduct a trial

  • If found guilty, the defaulter can be punished with imprisonment or fine or both

Q3. What is indemnity

Ans.

Indemnity is a legal obligation to compensate for harm or loss incurred by another party.

  • Indemnity is a contractual agreement where one party agrees to compensate the other party for specified losses or damages.

  • It is commonly used in insurance contracts to protect against financial losses.

  • Examples include professional liability insurance where a company agrees to indemnify an individual for legal costs incurred due to a lawsuit.

  • Indemnity clauses are often included in contract...read more

Q4. What is liability

Ans.

Liability refers to legal responsibility for one's actions or debts.

  • Liability is the state of being responsible for something, such as a debt or obligation.

  • It can be civil or criminal in nature, depending on the circumstances.

  • Examples include a company being liable for a defective product, or an individual being liable for damages in a car accident.

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Q5. WHAT IS IBC LAW

Ans.

IBC Law refers to the Insolvency and Bankruptcy Code, a legislation in India that consolidates the existing framework for insolvency resolution.

  • IBC Law was enacted in 2016 to address the issue of non-performing assets in the Indian banking sector.

  • It provides a time-bound process for resolving insolvency cases and maximizes the value of assets of insolvent companies.

  • Under IBC Law, a corporate debtor can be initiated into insolvency proceedings by a financial creditor, operatio...read more

Q6. Name the acts in 7th schedule

Ans.

The acts in the 7th schedule of the Indian Constitution relate to the division of powers between the Union and State governments.

  • The acts in the 7th schedule are categorized into three lists: Union List, State List, and Concurrent List.

  • Union List includes subjects on which only the Union government can make laws, such as defense, foreign affairs, and banking.

  • State List includes subjects on which only the State governments can make laws, such as police, public health, and loca...read more

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Q7. Define contract abstraction

Ans.

Contract abstraction is the process of summarizing and extracting key information from legal contracts.

  • Contract abstraction involves identifying and extracting important clauses, terms, and obligations from a contract.

  • It helps in creating a summary or abstract of the contract for easy reference and analysis.

  • Common elements abstracted include parties involved, payment terms, deliverables, timelines, and termination clauses.

  • Contract abstraction can be done manually or using sof...read more

Q8. Expected ctc of yours

Ans.

My expected CTC is in the range of 8-10 lakhs per annum.

  • I have researched the market and industry standards for Legal Associates with my level of experience.

  • I am open to negotiation based on the specific job responsibilities and benefits offered.

  • I am looking for a fair and competitive salary package that reflects my skills and expertise.

  • I am also interested in opportunities for growth and development within the company.

Legal Associate Jobs

Legal Associate 3-6 years
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₹ 3 L/yr - ₹ 5 L/yr
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Legal Associate 3-6 years
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₹ 3 L/yr - ₹ 5 L/yr
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Legal Associate 3-6 years
Poonawalla Fincorp Ltd.
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₹ 3 L/yr - ₹ 5 L/yr
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Q9. What is EDRM explain

Ans.

EDRM stands for Electronic Discovery Reference Model, a framework that outlines the standards for the recovery and discovery of digital data.

  • EDRM is a framework used in the legal field to guide the electronic discovery process.

  • It consists of various stages including identification, preservation, collection, processing, review, analysis, and production of electronic data.

  • EDRM helps organizations and legal professionals manage electronic data in a structured and efficient manne...read more

Q10. Current ctc of yours

Ans.

My current CTC is INR 8 lakhs per annum.

  • My current salary package is INR 8 lakhs per annum.

  • I receive a monthly salary of INR 66,666.67.

  • This includes my basic salary, allowances, and other benefits.

  • I am open to discussing my salary expectations for this role.

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