Business Laws

Paper Code: 
24BCP115
Credits: 
04
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to develop general legal knowledge of the law of Contracts, Sales and understanding of various forms of businesses and their functioning to regulate business environment and to acquire the ability to address basic application-oriented issues.

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

title

24BCP115

Business Laws

(Theory)

 

CO 1Examine the regulatory framework in India and gain knowledge of the Negotiable Instrument Act.

CO 2Examine the fundamental legal principles behind contractual agreements as per The Indian contract Act.

CO 3Examine the law relating to Sales of Goods acts 1930.

CO 4Describe the essentials of Indian Partnership Act 1932and LLP Act.

CO 5Describe the Essential features of company and Create Memorandum of Association and Articles of Association other related concepts.

CO 6Contribute effectively in course specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

Learning activities for the students:
Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

 

Continuous Assessment Test, Semester End Examinations, Quiz, Solving, Assignments, Class Presentations, Individual and group projects.

 

12.00
Unit I: 
Indian Regulatory Framework and The Negotiable Instruments Act
  • 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 Negotiable Instruments Act, 1881: Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Presentment of Instruments, Rules of Compensation.

 

12.00
Unit II: 
The Indian Contract Act, 1872
  • 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, Contract of Indemnity and Guarantee, Contract of Bailment and Pledge, Contract of Agency.

 

12.00
Unit III: 
The Sale of Goods Act, 1930
  • 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 IV: 
The Indian Partnership Act, 1932 and LLP act
  • 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 V: 
The Companies Act, 2013
  • 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.

 

Essential Readings: 
  • Study Material Published by Institute of Chartered Accountants of India

 

References: 

SUGGESTED READINGS:

  • Tulsian, P. C., Business Law, Tata McGraw-Hill Publishing Company, New Delhi, 2006.
  • Nolakha, R. L., Business Laws, Ramesh Book Depot, Jaipur

 

E-RESOURCES:

 

JOURNALS:

  • The Chartered Accountant Journal /ICAI Student Journal
  • Business Perspectives and Research
  • FIIB Business Review
  • Harvard Business Review

 

 

Academic Year: 
2024-2025
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