Legal Aspects of Business

Paper Code: 
CBTM 502
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 
  1. Create understanding of legal system related to business administration.
  2. Disseminate knowledge among students about the authorities and bodies involved in the legal system in India.

Course Outcomes (COs):

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

Paper Code

Paper Title

CBTM 502

 

 

 

 

 

 

Legal Aspects of Business

(Theory)

 

 

CO 159 Understand the nature and scope of Indian Contact Act

CO 160 Learn the legal system related to business administration

CO 161 Impart basic knowledge of the Indian Contact Act and legislations System

CO 162 Discuss the vital elements of offer, agreement and contract.

CO 163 Explain the legal terminology in standard business environment.

CO 164 Develop an insight on the concepts and practices of agency relationships.

Approach in teaching:

Interactive Hours using whiteboards, Questioning & Group Discussion, Case Studies, Frequent or unannounced quizzes.

Learning activities for the students:

Self learning assignments, Effective questions,  presentation, Solving problems with description of  important cases of business law

 

Class test, Semester end examination,

 Quiz, Case Study ,  Assignments, Class interaction

 

12.00
Unit I: 

The Indian Contract Act 1872: Meaning and Essentials of contract; Kinds of contract-Based on: validity, formation & performance, law relating to offer and acceptance & characteristics of consideration,

12.00
Unit II: 

Competency to contract, free consent, Void agreements, performance of contracts: meaning, modes of performance, persons entitled to demand performance, discharge of contracts, breach of contracts.

12.00
Unit III: 

Special contracts: contract of indemnity: meaning, valid essentials, rights of indemnifier and indemnity holder. Contract of guarantee: Meaning, valid essentials, kinds of guarantee. Bailment-features and types of bailment and Agency-concept, types of agency.

12.00
Unit IV: 

The Companies Act 2013: Meaning, types, Incorporation, Memorandum & Articles of association, privileges given to independent private company, Memorandum of Association and its contents. Doctrine of Ultra vires, Articles of associations: features, contents of articles of public limited company, position of directors

12.00
Unit V: 

Sale of Goods Act 1930, Consumer Protection Act 1986: Sale of Goods Act 1930: Sale and agreement to sell, rights of unpaid seller. Consumer Protection Act 1986: Objectives, Consumer protection councils, dispute redressal agencies, district forum, state commission, central commission, differences, rights of consumers.

Essential Readings: 

• M.C.Kucchal,&VivekKucchal: Business Legislation for Management, Vikas
• Publishing House (P) Ltd.
• Dr. G. K. Kapoor & Sanjay Dhamija: Company Law and Practice-A comprehensive
• textbook on Companies Act 2013, latest edition, Taxmann.
• Avtar Singh: Principle of Mercantile Law, Eastern Book Company.
• Gulshan Kapoor: Business Law, New Age International Pvt Ltd Publishers.
• Maheshwari&Maheshwari: Principle of Mercantile Law, National Publishing Trust
• Rohini Aggarwal: Mercantile & Commercial Law, Taxmann.
• Singh, Nirmal, Business Laws, Deep & Deep Publications Pvt. Ltd., New Delhi

Academic Year: 
2023-2024
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