Thursday, August 1, 2013


Marks: 100 (Theory = 75, Internal Assessment = 25)
Objective: The objective of the course is to impart basic knowledge of the important business laws along with relevant case law.

UNIT I – The Indian Contract Act, 1872 

Contract – meaning, characteristics and kinds; Essentials of valid contract - Offer and acceptance, consideration, contractual capacity, free consent, legality of objects; Void agreements; Discharge of contract – modes of discharge including breach and its remedies; Contingent contracts; Quasi – contracts; Contract of indemnity and guarantee; Contract of bailment; Contract of agency
UNIT II – The Sale of Goods Act, 1930 
Contract of sale, meaning and difference between sale and agreement to sell; Conditions and warranties; Transfer of ownership in goods including sale by non-owners; Unpaid seller – meaning and rights of an unpaid seller against the goods and the buyer.
UNIT III – The Limited Liability Partnership Act, 2008 
Salient features of LLP; Difference between LLP and partnership, LLP and company; LLP agreement; Nature of LLP; Partners and designated partners; Incorporation document; Incorporation by registration; Registered office of LLP and change therein; Change of name; Partners and their relations; Extent and limitation of liability of LLP and partners; Whistle blowing; Contributions; Financial disclosures; Annual return; Taxation of LLP; Conversion to LLP; Winding up and dissolution.
UNIT IV – The Information Technology Act, 2000 
Definitions under the Act; Digital signature; Electronic governance; Attribution, acknowledgement and dispatch of electronic records; Regulation of certifying authorities; Digital signatures certificates; Duties of subscribers; Penalties and adjudication; Appellate Tribunal; and Offences.

Suggested Readings:
1. Lee Reach, Business Laws, Oxford University Press, UK
2. Singh, Avtar, The Principles of Mercantile Law, Eastern Book Company, Lucknow.
3. Tulsian P.C, Business Law, Tata McGraw Hill, New Delhi.
4. Sharma J. P., and Sunaina Kanojia, Business Laws, Ane Books Pvt. Ltd, New Delhi.
Note: Latest edition of text book may be used.

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