Which one is not an element of legal environment?

Act of Parliamentarians in Lok Sabha

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Indian Contract Act, 1872

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Indian Partnership Act, 1932

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Negotiable instruments Act, 1881

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Solution

The correct option is A Act of Parliamentarians in Lok Sabha
Act of Parliamentarians in Lok Sabha is not an element of legal environment since legal environment constitutes the laws and various legislations passed in the parliament. Legal environment cannot be overlooked as the businessman has to perform the business transactions within the framework of legal environment.

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