Course Title: BUSINESS LAW

Course Code:

Credit Units : 03

Course Objectives:

To develop an understanding of the regulation of registered companies and to provide through understanding of the various provisions of commercial laws especially laws relating to contractual transactions, sale of goods , negotiable instruments , consumer protection and RTI

Pre-requisites:The student should have understanding of day today Commerce and basic knowledge of commercial / business organizations with Legal aptitude to comprehend the various business activities .

Student Learning Outcome:

The paper aims to make the students familiar with and to provide insight into formation of companies and role of Managerial persons thereto, besides, the paper provides insight to various aspects of Contract law, sale of goods, Negotiable Instruments, Consumer Protection and RTI. After undergoing the course the student will be well acquainted with the requirements of law in business activities.

Course Contents/Syllabus:

L T P/S

SW/FW

TOTAL

CREDIT

UNITS 3 - - - 3

Module I: Introduction to law and business

Introduction to law, Object of law, Sources of law, Function and

Its importance in business.

Module II: Indian Contract Act, 1872

Nature and kinds of Contracts,

Concepts related to Offer, Acceptance and Consideration, Principles Governing Capacity of Parties and Free Consent, Legality of Objects, Performance and Discharge of Contract, Breach of Contract and its Remedies, Basic Elements of Law Relating to Agency,

Guarantee and Pledge.

Module III: Module III: Indian Sale of Goods Act, 1930

D

Sale and Agreement to Sell, Hire Purchase – Pledge – Mortgage –Hypothecation Lease. Goods – Different types of Goods, Passing of Property in Goods, Conditions and Warranties, Doctrine of Caveat emptor, Rights of an unpaid Seller.

Module IV: Module IV: Negotiable Instruments Act, 1881

Meaning of Negotiability and Definition of Negotiable Instruments, Features, Cheques, Bill of Exchange and Promissory Note,

Holder in Due Course, Crossing of Cheques, Endorsement and Dishonour of Cheques

W Module V: Elements of Company Law

Meaning and types of companies, Formation of a company, Memorandum and Articles of Association, Prospectus and Issue of Shares, Share Capital and Shareholders, Company Meetings and Proceedings, Powers and Liabilities of Directors, Meeting, Managerial Remuneration and

Winding up of Company.

Module VI: Consumer Protection Act 1986 and Introduction to RTI

Need for Consumer Protection – Meaning of Consumer – Different redressal Forums for Consumers,

Rights of Consumers, Unfair Trade Practices, and Procedure for Filing Complaints. Important provisions related to RTI.

Pedagogy for Course Delivery:The course will be conducted using lectures, assignments. The students will be acquainted with important case laws on the subject

Lab/ Practical details, if applicable: NA

List of Experiments: NA

Assessment/ Examination Scheme:

Theory L/T (%) Lab/Practical/Studio (%) End Term Examination

100% NA 100%

Theory Assessment (L&T):Continuous Assessment/Internal Assessment End Term

ExaminationComponents (Drop down)

A CT C H EE

Weightage (%) 5 15 5 5 70Lab/ Practical/ Studio Assessment:

Continuous Assessment/Internal Assessment

End Term Examination

Components (Drop down

NA NA NA NA NA

Weightage (%) NA NA NA NA NA

Text and References:Mercantile Law N.D. Kapoor Prof(Cmde) P.K Goel, Business Law for managers Biztantra Dr S M Shukla and Dr O P Gupta Mercantile Law S S Gulshan Excel Book Mercantile Law Maheshwari & Maheshwari. Business Law Sale of Goods Act By Pollock & Mulla Consumer Protection Law & Procedure By BangiaCommentry on Right to Information Act By V.K.DewanNegotiable Instrument Act By Khargambala

Remarks and Suggestions: