Legal Aspects Of Business Syllabus

Course Code: MB0051

Course Title: Legal Aspects of Business (4 Credits)




Course Contents


Unit 1- Introduction to Business Law: Introduction, Meaning and Nature of Law, Sources of Indian Law, Legal Environment of Business, Mercantile Law, Some Basic Legal Concepts, Essentials of Law.


Unit 2- Law of contract –Introduction, Objectives, Definition of a Valid Contract, Offer and Acceptance, Capacity to Contract, Consent ,Consideration, Performance of Contracts, Discharge of Contracts, Breach of Contract and Void Agreements, Quasi Contracts, Freedom to Contract.


Unit 3- Contracts of Guarantee and indemnity – Introduction, Contract of Indemnity, Contract of Guarantee, Kinds of Guarantee, Creditor, Surety.


Unit 4- Contracts of Bailment and Pledge – Introduction, Bailment and its Kinds, Definition of bailment ,Kinds of bailment, Bailor and Bailee, Termination of Bailment, Finder of Lost Goods, Pledge or Pawn, Pledge by Non-owners, Pledgor and Pledgee


Unit 5 - Contract of Agency – Introduction, Agent and Agency, Kinds of Agencies, Classification of Agents, Duties and Rights of Agents, Principal’s Duties to the Agent and his Liability to Third Parties, Personal Liability of Agent, Termination of Agency, Power of Attorney


Unit 6: Law of Partnership: Introduction, Meaning and Nature of Partnerships, Registration of Firms, Partnership Deed, Relations of Partners to One Another, Relations of Partners to Third Parties, Changes in a Firm, Dissolution


Unit 7- Law of sales of Goods – Contract of sale, Goods and their classification, Meaning of price, Conditions and Warranties, Passing of property in goods, Transfer of title by non-owners, Performance of a contract of sale, Unpaid seller and his rights, Remedies for breach of contract


Unit 8 - Law of Negotiable Instruments – Negotiable instruments, Promissory notes, Bills of exchange, Cheques, Negotiation, Presentment, Dishonour, Crossing of cheques, Paying banker


Unit 9 –Banking & Insurance Law- Introduction, Control and Regulation of Banking, Insurance in India, Regulation of Insurance Sector


Unit 10 –Consumer Protection Act-Introduction, Definitions, Rights of Consumers, Nature and Scope of Complaints, Remedies Available to Consumers


Unit 11-The Competition Act- Introduction, Definitions, Enquiry into Certain Agreements and Dominant Position of Enterprise and Combinations, Miscellaneous Provisions, Finance, Accounts and Audit


Unit 12 –The Foreign Exchange Management Act- Introduction, Definitions, Regulation and Management of Foreign Exchange, Authorized Person, Contravention and Penalties [Sections13-15], Adjudication and Appeal [Sections 16-35], Directorate of Enforcement, Miscellaneous Provisions


Unit 13 – The Company’s Act: Introduction, Formation of a Company, Memorandum of Association, Articles of Association, Prospectus, Shares, Directors, General Meetings and Proceedings, Auditor, Winding up.


Unit 14 – Regulation to Information- Introduction, Right to Information Act, 2005, Information Technology Act, 2000, Electronic Governance, Secure Electronic Records and Digital Signatures, Digital Signature Certificates, Cyber Regulations Appellate Tribunal, Offences, Limitations of the Information Technology Act, 2000


Unit 15 - Intellectual Property Laws- Introduction, Legal Aspects of Patents, Filing of Patent Applications, Rights from Patents, Infringement of Patents, Copyright and its Ownership, Infringement of Copyright, Civil Remedies for Infringement.