BUSINESS LAWS

Paper Code: 
BCP 115
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

CO 24:Explain the basic concepts of Indian Contract Act and laws of business.

CO 25:Examine the fundamental legal principles behind contractual agreements.

CO 26:Examine the law relating to Sales of Goods acts 1930,

CO 27:Describe the essentials of Indian Partnership Act 1932 and LLP Act

CO 28:Describe the Essential features of company and Create Memorandum of Association and Articles of Association other related concepts

Interactive Lectures, Discussion, Tutorials, reading assignments, Interactive White Board, Incorporating technology in teaching. Self-learning assignments, Effective questions

Class test, Semester end examinations, Quiz, Assignments, Class interaction, Presentation, Case study analysis, Open ended questions, think-pair-share, Socratic seminar

 

12.00
Unit I: 

·Indian Regulatory Framework Major Regulatory Bodies such as Ministry of Finance, Ministry of Corporate Affairs, SEBI, RBI, IBBI, Ministry of Law and Justice, etc

·The Indian Contract Act, 1872 General nature of contract, Consideration, Other essential elements of a valid contract, Performance of contract, Breach of contract, Contingent and Quasi Contract,

 

12.00
Unit II: 
  • The Indian Contract Act, 1872: Contract of Indemnity and Guarantee, Contract of Bailment and Pledge, Contract of Agency.
  • The Sale of Goods Act, 1930 Formation of the contract of sale, Conditions and Warranties, Transfer of ownership and Delivery of goods, Unpaid seller and his rights.

 

12.00
Unit III: 
  • The Indian Partnership Act, 1932 General Nature of Partnership, Rights and Duties of partners, Reconstitution of firms, Registration and Dissolution of a firm.
  • The Limited Liability Partnership Act, 2008 Introduction-covering nature and scope, Essential features, Characteristics of LLP, Incorporation and Differences with other forms of organizations.

 

12.00
Unit IV: 
  • The Companies Act, 2013 Essential features of company, Corporate veil theory, Classes of companies, Types of share capital, Incorporation of company, Memorandum of Association, Articles of Association, Doctrine of Indoor Management.

 

12.00
Unit V: 
  • The Negotiable Instruments Act, 1881 Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Presentment of Instruments, Rules of Compensation.

 

Essential Readings: 

Study Material Published by Institute of Chartered Accountants of India

References: 

• Tulsian, P. C., Business Law, Tata McGraw-Hill Publishing Company, New Delhi, 2006.
• Nolakha, R. L., Business Laws, Ramesh Book Depot, Jaipur
E-RESOURCES:
https://www.icai.org/post.html?post_id=17791
JOURNALS:
The Chartered Accountant Journal /ICAI Student Journal

Academic Year: 
2023-2024
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