Business Laws

Paper Code: 
25CBSG102
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to comprehensively understand business laws, and to navigate legal frameworks confidently in professional environments.

Course Outcomes: 

Course Outcomes (COs): Course Learning Outcome (at course level) Learning and teaching strategies Assessment Strategies Course Code Course Title 25CBS G102 Business Laws (Theory) CO: 7 Comprehend the Indian Contract Act's foundational principles and subsequently to enter into valid business propositions CO: 8 Exhibit comprehension of Special Contracts under the Indian Contract Act, such as bailment, pledge, and indemnity, guarantee and agency proficiently applying legal principles." CO: 9 Demonstrate and Perceive the Sale of Goods Act 1930, including concepts of sale, types of goods, warranties, caveat emptor, unpaid seller provisions, and auction sale intricacies CO: 10 Interpret legal framework of Partnership Act and Limited Liability Partnership Act to navigate business partnerships effectively and mitigate legal risks. CO: 11 Analyze and apply the principles of the Consumer Protection Act, ensuring ethical business practices and safeguarding consumer rights effectively. CO: 12 Contribute effectively in course specific interaction 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

 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

 

 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

Practical: Power Point presentation on relevant topics

12.00
Unit V: 
Consumer Protection Act, 1986

 Objectives, important definitions, Rights of consumer. 

 Dispute Redressal agencies: District forum, State commission, Central commission

 Compliant filing procedure

Practical: Role play activity on relevant topics

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: 

 Datey, V.S., Business and Corporate Laws, Taxmann Allied Services Pvt. Ltd., NewDelhi

 Singh, Nirmal, Business Laws, Deep & Deep Publications Pvt. Ltd., NewDelhi

 Sharma, Arya, Gupta, Jain, Business Laws, Ajmera Book Company, Jaipur

 Gulshan, S. S., Business Law, Excel Books, NewDelhi

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... REFERENCE JOURNALS

 Prabandhan

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

Academic Year: 
2025-2026
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