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Business Laws
Course Objectives:
The objective of this course is to acquaint the students with the different types of laws, which a businessman is generally exposed to or is affected by.The course aims at exposing the student to the regulatory framework of the Indian business.
Course Outcome(COs):
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Course |
Learning Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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FSG 213 |
Business Laws |
CO53. Understand the execution of special contracts such as Bailment, Pledge, Agency used in different types of business. CO54. Know legitimate rights and obligations prescribed for Seller and Buyer under The Sale of Goods Act. CO55. Learn Provisions regarding Partnership form of Business and to understand the various technicalities pertaining to execution of Partnership. CO56. Learn the fundamentals of Consumerism and the system to pursue the consumer rights under Consumer Protection act 1982 CO57. Understand the basic provisions and the mechanism of availing the Right to Information being a citizen of India. Students will also know the machinery set up for the same.
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Approaches in Teaching: Class room Lecture (Theory/ Using Power Point Presentation) /Discussions using Leading Case laws/
Learning activities for students: Role Play activities/ Moot Court/Group Discussions/ Class presentation/ Assignments |
Class participation, tutorial assignments and presentations, class tests, C A Test, Semester End Exams.
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Specific Contracts
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.
Pledge: meaning, essentials, difference between bailment and pledge.
Agency: meaning, essentials, creation and termination of agency, duties and rights of agent and principal, sub-agent, substituted agent, & Co-agent (Meaning) , irrevocable agency.
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, 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.
The Indian partnership Act, 1932: Definition of partnership, essentials, difference between partnership and Joint Stock Company.
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
Consumer Protection Act, 1986: Objectives, important terms, rights of consumer. Consumer protection councils, Dispute Redressal agencies: District forum, State commission, Central commission
Right to Information Act,2005: Objective, definitions: Right to Information, Public authority, Information, Record, Public Information Officer.
Obligations of public authority, Provisions relating to PIO, duties of PIO, Provision for obtaining information, Provision relating to exemption from disclosure of information. Information Commissions and their powers. Appellate authorities.
• Aggarawal, Rohini, Student’s guide to Mercantile & Commercial Laws, Taxmann Allied Services Pvt. Ltd., New Delhi.
• Kapoor, N. D., Elements of Mercantile Law, Sultan Chand & Sons, New Delhi
• Tulsian, P. C., Business Law, Tata McGraw-Hill Publishing Company, New Delhi, 2006.
• Nolakha, R. L., Business Laws, Ramesh Book Depot, Jaipur
• Sharma, Arya, Gupta, Jain, Business Laws, Ajmera Book Company, Jaipur
• 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
• Gulshan, S. S., Business Law, Excel Books, New Delhi
