Business Laws

Specific Contracts-I:
• Bailment: meaning, valid essentials, modes of delivery of goods, classification of bailment, duties and rights of bailor and bailee, finder of goods lost, termination of bailment, lien: meaning and types.
• Pledge: meaning, essentials, difference between bailment and pledge, rights and duties of pawner and pawnee, pledge by non-owners.

Specific Contracts-II:
• Contract of Agency: meaning, essentials, creation and termination of agency, who may be an agent and principal, duties and rights of agent and principal, delegation of authority: sub-agent, substituted agent, personal liability of agent, irrevocable agency.

Sale of Goods Act, 1930:
Contract of sale of goods: Meaning, essentials, difference between sale and agreement to sell, hire purchase concept, classification of goods, effects of destruction of specific goods.
Condition & warranty: Meaning, difference, types, Doctrine of caveat emptor.
Transfer of property in goods: Rules, transfer of ownership by non-owners.
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.

Consumer Protection Act, 1986:
Objectives, important terms, rights of consumer.
Consumer protection councils, dispute redressal agencies: district forum, state commission, central commission, differences.

The Indian partnership Act, 1932:
Definition of partnership, essentials, difference between partnership and co-ownership, difference between partnership and Joint Stock Company.
Formation and registration: who may become partner, time and procedure of registration recording of changes, 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, rights and liabilities of partners on dissolution.