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Business Legislations
Course Outcomes
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Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to;
CO1. Understand the concept of contracts and its various types, and identify the essential elements required for a valid contract. CO2. Identify and evaluate various types of contracts and their applicability in different contractual situations. CO3. Comprehend the concept of sales of goods act, 1930 and understand its respective legal implications. CO4. Analyze the mutual rights and duties of partners within a partnership firm, including their obligations of good faith, fiduciary duty, and contribution. CO5. Demonstrate a comprehensive understanding of the silent features of a Limited Liability Partnership (LLP), including its nature and advantages over traditional partnerships. CO6. Evaluate the key features of the Companies Act, 2013, including its objectives, provisions for corporate governance, accountability, and transparency.
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Approach in teaching: Interactive Lectures, Group Discussion, Tutorials, Case Study
Learning activities for the students: Self-learning assignments, presentations |
Class test, Semester end examinations, Quiz, Assignments, Presentation |
Indian Contract Act,1872 Contract: - Meaning of contract, Types, Essentials of Valid Contract
Void agreements: Meaning, Types. Proposal and Acceptance: Meaning, legal rules as to the offer
Contractual capacity: Meaning, Minors (effects of minor’s agreements), Person of unsound mind, Free consent.
Consideration: Meaning, legal rules, privity of contract, Legality of object.
Contingent contracts: Meaning, Valid essentials, Rules as to the enforcement of contingent contract
Performance of contract: Meaning, Modes of performance
Discharge of contract: modes of discharge of contract, Remedies and types of breach of contract.
Contract of Indemnity and Guarantee, Contract of Bailment and Pledge, Quasi Contracts
Contract of Agency: meaning, essentials, creation and termination of agency
Sales Of Goods Act, 1930
Contract of sale, Meaning and difference between sale and agreement to sell, Conditions and warranties, Transfer of ownership in goods including sale by non-owners,Performance of contract of sale,
Unpaid seller- meaning and rights of an unpaid seller against the goods and the buyer.
Partnership Act 1932:
Meaning, nature of partnership firm, partnership deed, Registration, types of partners, Mutual Rights and duties, reconstitution of the firm.
Limited Liability Partnership Act, 2008:
Silent features of LLP, Preliminary, Nature of LLP, Incorporation of LLP Partnership and Incidental Matters, Partners and their relations, Extent and limitation of LLP and ITS Partners, Financial Disclosures, Winding up and Dissolution.
Companies Act, 2013:
Formation of company, Incorporation, MOA, AOA, Prospectus, Statement in lieu of prospectus,Shares, Debentures,Appointment, Directors and Powers, Meetings- Proceedings, Winding up (Voluntary, under court’s supervision), Silent Features of Companies Act 2013
*Case studies related to entire topics are to be taught.
Suggested Readings-
- Singh Avtar, Indian Company Law, Eastern Book Company
- 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.
- 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
- Krishnamurti D S R, Company Law, Taxmann, New Delhi, 2007
