BUSINESS LAWS

Paper Code: 
CBSG 102
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcomes

Learning and teaching strategies

Assessment Strategies

CO 6: To create an understanding of basic aspects of The Indian contract Act for making the agreements, contracts and subsequently to enter into valid business propositions

CO 7: To handle the execution of special contracts used in different types of business.

CO 8: To learn legitimate rights and obligations under The Sale of Goods Act.

CO 9: To analyze Provisions regarding Partnership form of Business and to understand the various technicalities pertaining to execution of Partnership also to acquire skills to initiate entrepreneurial ventures as LLP

CO 10: To analyze the fundamentals of Consumerism and the system to pursue the consumer rights under Consumer Protection act 1986

Approach in teaching: Class room Lecture (Theory/ Using Power Point Presentation) /Discussions using Leading Case laws/

 

Learning activities for the students:

Role Play activities/ Moot Court/Group Discussions/ Class presentation 

 

Class participation, tutorial assignments and presentations, class tests, C A Test, Semester End Exams.

 

 

12.00
Unit I: 
Indian Contract Act, 1872

Meaning of contract, Important definitions (Sec.2a to Sec. 2j), Valid essentials of contract, Classification of Contracts
Proposal: Meaning of proposal, types
Acceptance: Meaning & Features
Contractual capacity Meaning, Minors (effects of minor’s agreements), Person of unsound mind (Meaning, types and effects), Persons disqualified by laws.
Free consent: Meaning & Features of Coercion, Undue Influence, Fraud, Misrepresentation& Mistake
Consideration: Meaning, legal rules,
Void agreements: Meaning, Types.
Performance of contract: Meaning, Modes of performance
Discharge of contract: Meaning and modes of discharge of contract
Practical: Caselet Discussion on Relevant Topics

12.00
Unit II: 
Specific Contracts

Contract of Indemnity: Meaning, valid essentials, rights of indemnifier and indemnity holder.
Contract of Guarantee: Meaning, valid essentials, extent of surety’s liability, rights of surety, discharge of surety from liability
Bailment: meaning, valid essentials, modes of delivery of goods, classification of bailment, duties and rights of bailor and bailee,
Pledge: meaning, essentials, difference between bailment and pledge.
Agency: meaning, essentials, creation and termination of agency
Practical: Moot Court Activity on Relevant Topics

12.00
Unit III: 
Sale of Goods Act, 1930

Meaning, essentials, difference between sale and agreement to sell,
Classification of goods, Condition& warranty: Meaning, difference, types,
Doctrine of caveat emptor.
Transfer of property in goods: Rules
Performance of contract: Meaning, rules relating to delivery of goods, duties and rights of buyer.
Unpaid seller: Meaning, rights-against the goods and against the buyer.
Remedies for breach of contract: Buyer’s remedy and auction sale.
Practical: Role Play activity on Relevant Topics

12.00
Unit IV: 
Partnership Laws

A The Indian partnership Act, 1932
Definition of partnership, essentials,
Formation and registration: Procedure of Registration, effects of non- registration, exceptions: rights not affected by non-registration.
Types of partnership, types of partners, minor as partner in benefits.
Relations of partners: Rights and duties of partners, relations of partners to third parties
Dissolution of firm: Difference between dissolution of partnership and firm, modes of dissolution of firm,
B The Limited Liability Partnership Act, 2008
Salient Features of LLP
 Differences between LLP and Partnership, LLP and Company
LLP Agreement,
Partners and Designated Partners
Incorporation Document
Incorporation by Registration

Practical: Powerpoint Presentation on Relevant Topics

12.00
Unit V: 
The Negotiable Instruments Act, 1881 and Consumer Protection Act, 1986

Unit IV: A The Negotiable Instruments Act, 1881 12 hrs
Meaning, Characteristics, and Types of Negotiable Instruments : Promissory Note, Bill of Exchange, Cheque
Holder and Holder in Due Course, Privileges of Holder in Due Course.
Negotiation: Types of Endorsements
Crossing of Cheque , Bouncing of Cheque
B Consumer Protection Act, 1986
Objectives, important terms, Rights of consumer.
Dispute Redressal agencies: District forum,State commission, Central commission
Practical: Role Play activity on Relevant Topics
Practical File Preparation

Essential Readings: 

Aggarawal, Rohini, Student’s guide to Mercantile & Commercial Laws, Taxmann Allied Services Pvt. Ltd., NewDelhi.
Kapoor, N. D., Elements of Mercantile Law, Sultan Chand & Sons, NewDelhi
Tulsian, P. C., Business Law, Tata McGraw-Hill Publishing Company, New Delhi.
Nolakha, R. L., Business Laws, Ramesh Book Depot, Jaipur

References: 

SUGGESTED READINGS:
Datey, V.S., Business and Corporate Laws, Taxmann Allied Services Pvt. Ltd., New Delhi
Singh, Nirmal, Business Laws, Deep & Deep Publications Pvt. Ltd., New Delhi
Sharma, Arya, Gupta, Jain, Business Laws, Ajmera Book Company, Jaipur
Gulshan, S. S., Business Law, Excel Books, New Delhi

e- RESOURCES:
Pillai RSN, Bhagavathi, Business Laws, S. Chand publishing https://www.google.co.in/books/edition/_/kCwrDAAAQBAJ?hl=en&gbpv=1
Ryder,Griffiths,Singh, Commercial Law: Principles & Policy, Cambridge University Press https://www.google.co.in/books/edition/_/kCwrDAAAQBAJ?hl=en&gbpv=1
 Study Material of ICSI on Economic, Business & Commercial laws https://www.icsi.edu/media/webmodules/Economic%20Business%20and%20Commer...

JOURNALS
Prabandhan
The Indian Journal of Commerce
IUP Journal of Coprporate Governance

Academic Year: 
2023-2024
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