Laws for Business Entities in India

Paper Code: 
25GCL232
Credits: 
04
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will quip the students with essential legal knowledge to navigate the complexities of laws relating to business entities.

Course Outcomes: 

Course

Learning Outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Course

Code

Course title

 

 

 

 

 

 

 

 

 

 

25GCL

232

 

 

 

 

 

 

 

 

 

Laws for Business Entities in India (Theory)

CO25: Analyze the principles of Contract as per the Indian Contract Act, 1872.

CO26: Assess the conditions for performance and discharge of a contract as per the Indian Contract Act, 1872 and Develop an understanding of special contracts like Indemnity, Guarantee, Bailment, Pledge, Agency and Quasi Contacts.

CO27: Develop knowledge about the formulation of Partnership and LLP.

CO28: Discuss the essential requirements for the incorporation of a company.

CO29: Elaborate the key knowledge about KMP, Directors, Meetings, Winding Up and CSR.

CO30: 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, Group Discussions, Class presentation.

Class participation, assignments and presentations, Annual End Exams.

 

12.00
Unit I: 
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,

●            Persons disqualified by law

●            Free consent,

●            Consideration

12.00
Unit II: 
Indian Contract Act,1872

●            Performance of contract: Meaning, Modes of performance,

●            Discharge of contract: modes of discharge of contract, Remedies

●            Contract of Indemnity and Guarantee

 

●            Contract of Bailment and Pledge, Agency

●            Quasi Contracts

12.00
Unit III: 
Partnership & Limited Liability Partnership Act 2008

●            Partnership Act 1932 - Meaning, nature of partnership, partnership deed, Registration of partnership firm, types of partners and partnership, Mutual Rights and duties.

●            Limited Liability Partnership Act 2008- Salient features of LLP, Nature of LLP, Incorporation of LLP Partnership and Incidental Matters, Partners and their relations, Extent and limitation of LLP

12.00
Unit IV: 
Companies Act 2013

●            Salient Features of Companies, Classification of companies.

●            Incorporation of company,

●            Memorandum of Association , Article of Association, Prospectus.

●            Shares and Debentures

12.00
Unit V: 
Companies Act 2013

·         ●      Key Managerial Personnel

●           Directors -Definition , type and Powers.

●            Meetings- Proceedings, Winding up (Voluntary, under court’s supervision),

●            CSR provision and practices

Essential Readings: 

1.          Majumdar, A. K. and Kapoor, G. K., Student’s guide to Company Law, Taxmann Publications (P) Ltd., New Delhi

2.          Singh, Avtar, Indian Company Law, Eastern Book Company.

References: 

1.          Nolakha, R.L., Company Law, Ramesh Book Depot, Jaipur

2.          Kuchhal, MC, Company Law and Secretarial Practice, Vikas Publishing House, New Delhi

3.          Krishnamurti, D.S.R., Company Law, Taxmann, New Delhi.

Academic Year: 
2025-2026
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