Legal Aspects of Business

Course ID
MC 502
Level
Undergraduate
Program
BMS
Semester
Fifth
Credits
6.0
Paper Type
Core Course
Method
Lecture & Tutorial

Unique Paper Code: 61011504

To gain knowledge of the branches of law which relate to business transactions, certain corporate bodies and related matters. Also to understand the applications of these laws to practical commercial situations.

Learning Outcomes:

At the end of the course, students should be able to:

  • Know rights and duties under various legal Acts.
  • Understand consequences of applicability of various laws on business situations.
  • Develop critical thinking through the use of law cases.

Course Contents

Unit I
Unit II
Unit III
Unit IV

Unit I (5 Weeks)

The Indian Contract Act 1872: Meaning and Essentials of contract; Kinds of contract based on validity, formation & performance; law relating to offer and acceptance, consideration, competency to contract, free consent, void agreements, performance of contracts, discharge of contracts, breach of contracts and quasi contract; Special contracts: contract of indemnity and guarantee, bailment and pledge, and agency.

References:

Kucchal M. C. & Kucchal Vivek, Business Legislation for Management, Vikas Publishing House (P) Ltd.: Part I

Unit II (2 Weeks)

Sale of Goods Act 1930: Sale and agreement to sell, implied conditions and warranties, sale by non-owners, rights of unpaid seller.

Negotiable Instruments Act 1881: Meaning of negotiable instruments, type of negotiable instruments, promissory note, bill of exchange, cheque.

References:

Kucchal M. C., Business Law/Mercantile Law, Vikas Publishing House (P) Ltd.: Part II & Part IV

Unit III (2 Weeks)

The Companies Act 2013: Meaning and types, Incorporation, Memorandum & Articles of association, Prospectus, Issue of shares and bonus shares, rights issue, sweat equity, role of directors, share qualification, company meetings.

The Limited Liability Partnership Act 2008: Meaning and nature of limited partnership, formation, partners & their relations, extent and limitation of liability.

References:

Kucchal M. C. & Kucchal Vivek, Business Legislation for Management, Vikas Publishing House (P) Ltd.: Part IV

Kapoor G. K. & Dhamija Sanjay, Company Law and Practice-A comprehensive text book on Companies Act 2013, Taxmann: Chapter 1, 2, 3, 4, 5, 6, 7, 14, 16, 17

Unit IV (3 Weeks)

Consumer Protection Act 1986: Objectives and machinery for consumer protection, defects and deficiency removal, rights of consumers. The Right to Information Act 2005: Salient features and coverage of the act, definition of terms information, right, record, public authority; obligations of public authorities, requesting information and functions of PIO. Information Technology Act 2000: The rationale behind the act, Digital signature and Electronic signature, Electronic Governance

References:

Kucchal M. C. & Kucchal Vivek, Business Legislation for Management, Vikas Publishing House (P) Ltd.: Part VI & Part VIII

Additional Information

Text Books


Kucchal M. C., Business Law/Mercantile Law, Vikas Publishing House (P) Ltd.
Kucchal M. C. & Kucchal Vivek, Business Legislation for Management, Vikas Publishing House (P) Ltd.
Kapoor G. K. & Dhamija Sanjay, Company Law and Practice-A comprehensive text book on Companies Act 2013, Taxmann.

Additional Readings


Singh Avtar, Principle of Mercantile Law, Eastern Book Company.
Kapoor Gulshan, Business Law. New Age International Pvt. Ltd Publishers.
Maheshwari & Maheshwari, Principle of Mercantile Law, National Publishing Trust.
Aggarwal Rohini, Mercantile & Commercial Law, Taxmann.

Teaching Learning Process

Lecture, discussion, PowerPoint presentations. Course contents shall be discussed in the light of relevant case laws.

Assessment Methods

Internal Assessment: 25 marks
Written Theory Exam: 75 marks

Keywords

Indian Contract Act, Sale of Goods Act, Companies Act, Limited Liability Partnership Act, Consumer Protection Act, Right to Information Act, Information Technology Act.

Disclaimer: Details on this page are subject to change as per University of Delhi guidelines. For latest update in this regard please refer to the University of Delhi website here.

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