This course will enable the students to comprehensively understand business laws, and to navigate legal frameworks confidently in professional environments.
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Learning Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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25CBSG102
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Business Laws (Theory)
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CO: 7 Comprehend the Indian Contract Act's foundational principles and subsequently to enter into valid business propositions CO: 8 Exhibit comprehension of Special Contracts under the Indian Contract Act, such as bailment, pledge, and indemnity, guarantee and agency proficiently applying legal principles." CO: 9 Demonstrate and Perceive the Sale of Goods Act 1930, including concepts of sale, types of goods, warranties, caveat emptor, unpaid seller provisions, and auction sale intricacies CO: 10 Interpret legal framework of Partnership Act and Limited Liability Partnership Act to navigate business partnerships effectively and mitigate legal risks. CO: 11 Analyze and apply the principles of the Consumer Protection Act, ensuring ethical business practices and safeguarding consumer rights effectively. CO: 12 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/ Moot Court/Group Discussions/ Class presentation
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Class participation, tutorial assignments and presentations, class tests, C A Test, Semester End Exams.
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· Meaning of contract, Important definitions (Sec.2a to Sec. 2j), Valid essentials of contract, Classification of Contracts
· Proposal: Meaning of proposal, types
· Acceptance: Meaning & Features
· Contractual capacity Meaning, Minors (effects of minor’s agreements), Person of unsound mind (Meaning, types and effects), Persons disqualified by laws.
· Free consent: Meaning & Features of Coercion, Undue Influence, Fraud, Misrepresentation& Mistake
· Consideration: Meaning, legal rules,
· Void agreements: Meaning, Types.
· Performance of contract: Meaning, Modes of performance
· Discharge of contract: Meaning and modes of discharge of contract
Practical: Caselet discussion on relevant topics
· Contract of Indemnity: Meaning, valid essentials, rights of indemnifier and indemnity holder.
· Contract of Guarantee: Meaning, valid essentials, extent of surety’s liability, rights of surety, discharge of surety from liability
· Bailment: meaning, valid essentials, modes of delivery of goods, classification of bailment, duties and rights of bailor and bailee,
· Pledge: meaning, essentials, difference between bailment and pledge.
· Agency: meaning, essentials, creation and termination of agency
Practical: Moot court activity on relevant topics
· Meaning, essentials, difference between sale and agreement to sell,
· Classification of goods, Condition& warranty: Meaning, difference, types,
· Performance of contract: Meaning, rules relating to delivery of goods, duties and rights of buyer.
· Unpaid seller: Meaning, rights-against the goods and against the buyer.
Remedies for breach of contract: Buyer’s remedy and auction sale.
Practical: Role play activity on relevant topics
A The Indian partnership Act, 1932
· Definition of partnership, essentials,
· Formation and registration: Procedure of Registration, effects of non- registration, exceptions: rights not affected by non-registration.
· Types of partnership, types of partners, minor as partner in benefits.
· Relations of partners: Rights and duties of partners
· Dissolution of firm: Difference between dissolution of partnership and firm, modes of dissolution of firm,
B The Limited Liability Partnership Act, 2008
· Salient Features of LLP
· Differences between LLP and Partnership, LLP and Company
· LLP Agreement,
· Partners and Designated Partners
Practical: Power Point presentation on relevant topics
· Objectives, important definitions, Rights of consumer.
· Dispute Redressal agencies: District forum, State commission, Central commission
· Compliant filing procedure
Practical: Role play activity on relevant topics
· Aggarawal, Rohini, Student’s guide to Mercantile & Commercial Laws, Taxmann Allied Services Pvt. Ltd., NewDelhi.
· Kapoor, N. D., Elements of Mercantile Law, Sultan Chand & Sons, NewDelhi
· Tulsian, P. C., Business Law, Tata McGraw-Hill Publishing Company, New Delhi.
· Nolakha, R. L., Business Laws, Ramesh Book Depot, Jaipur
SUGGESTED READINGS
· Datey, V.S., Business and Corporate Laws, Taxmann Allied Services Pvt. Ltd., NewDelhi
· Singh, Nirmal, Business Laws, Deep & Deep Publications Pvt. Ltd., NewDelhi
· Sharma, Arya, Gupta, Jain, Business Laws, Ajmera Book Company, Jaipur
· Gulshan, S. S., Business Law, Excel Books, NewDelhi
e- RESOURCES:
· Pillai RSN, Bhagavathi, Business Laws, S. Chand publishing https://www.google.co.in/books/edition/_/kCwrDAAAQBAJ?hl=en&gbpv=1 [2]
· Ryder,Griffiths,Singh, Commercial Law: Principles & Policy, Cambridge University Press https://www.google.co.in/books/edition/_/kCwrDAAAQBAJ?hl=en&gbpv=1 [2]
· Study Material of ICSI on Economic, Business & Commercial laws https://www.icsi.edu/media/webmodules/Economic%20Business%20and%20Commercial%20Laws.pdf [3]
REFERENCE JOURNALS
· Prabandhan
· The Indian Journal of Commerce
· IUP Journal of Coprporate Governance
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/business-laws-32
[2] https://www.google.co.in/books/edition/_/kCwrDAAAQBAJ?hl=en&gbpv=1
[3] https://www.icsi.edu/media/webmodules/Economic%20Business%20and%20Commercial%20Laws.pdf
[4] https://accountingtaxation.iisuniv.ac.in/academic-year/2025-2026