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Batch : 2011-2013 (Term-III) Credits: 3

Title of the course: Business Law

Objective of the Course
To a business will be successful if the entrepreneur/management charts a steady course through the regulatory and legal frame work of the time while grapping with the traditional constraints viz., economic and financial. Also, the modern day business is increasingly facing up to its corporate social responsibility (CSR) as part of prudent business ethics. In view of this present day scenario, it is essential that a graduate of our B School should be equipped with the requisite knowledge about Business Laws & Ethics. Business Laws viz., Contract Act, Sale of Goods Act, Partnership Act, Negotiable Instrument Act will train you to protect the business interest in the transactions of day to day nature. The very existence of a corporate entity, especially a listed entity, is governed by the companies act is sine qua non, Information Technology has revolutionized every aspect of human life, corporate affairs being no exception. A detailed study of the cyber laws will enable you to keep your employer abreast of the last rest going-on in the modern corporate world.There is a world of change in the way Business exploited resources, at the on set of the industrial revolution and the way business is exploited today. A study of the business environment will give you the modern prospective. The Foreign Exchange Management Act and the MRTP Act acquaint you with the regulatory framework of our country as regards foreign exchange and competitive environment.The growth of consumerism in India has prompted the govt. to an act the consumer protection act to safeguard their interests. A detailed of this Act will help you to prevent the enterprise from falling on the wrong side of the Law. Indian Industry, post WTO, is facing a slew of litigation on alleged infringement of the Parents of MNCs. At the same time, our own corporate giants i.e., Indian MNCs operating aboard have initiated similar proceeding in the countries of operations. All this litigation means that an in death knowledge of the Patents Act is absolutely essential.

Session Plan
Sl. No. 1. 2. Topic Types of Business Organisations : Property, Small Private Ltd., Public Ltd. & Corporation a) Government Control including FERA, COMPETITION ACT, IPR b) CPC & Cr. P.C. relevant to Business Contract Law a)Contract Nature, importance, Agreement Definitions b) Essential element of valid contract classification of contract c) Offer acceptance, Communication of offer, acceptance and revocation No. of section 1 2 Method L L&C






d) Consideration, definition and salient feature e) Capacity to contract Minors, lunatics, drunken or intoxicated persons f) Consent, free consent coercion, undue influence, fraud, Misrepresentation, Mistake of law and fact. g) Legality of Object void Agreements h) Contingent and Quasi contracts i) Performance of contract breach and remedies j) Indemnity and guarantee k) Bailment and Agency Partnership Act a) Essential elements of partnership firm b) Right and duties of partners, incoming out going partners, dormant partners, Property of the firm goodwill c) Partnership by holding out, death a partners retirement of partner, rights and liability of minor partner d) Dissolution of firm Company Law a) Company-Nature-Definition-Characteristics Types b) Memorandum of Association Articles of Association Prospects c) Membership Share Capital, Shares, Rights and Liabilities of Members d) Management and Administration e) Prevention of oppression and mismanagement f) Winding up g) Companies Amendment Bill 2008 Sale of Goods Act a) Conditions and Warranties b) Rights of unpaid seller Environment protection and business obligations Negotiable Instrument Act Negotiable Instrument Act a) Negotiation and Liability Consumer Protection Act a) District Forum, State Commissions, National Commission Composition Procedures and Power Securities Contracts a) Recognition of Stock Exchanges b) Listing of Securities c) Product Liability Arbitration Procedure for settlement of Claims d) IPR-patent and trademark e) LLPs Term Paper Presentations Total





7. 8. 9.

1 1 1


2 32

Text Book:
Satish B Mathur., Business Law, Excel Books, New Delhi, 2006

Reference Books a) Kapoor N.D. Pagar Dinkar, Business Laws and Management, Sultan Chand & Sons, New Delhi, 1995. b) Avatar Singh, Company Law, Eastern Book Company, Lucknow 1996. c) Taxman, General & Mercantile Laws, Taxman, New Delhi, 1994. d) Nadhis Business Law, Delhi 1995. e) Peter Tratley, The Essence of Business Ethics, Prentice-Hall of India, New Delhi, 1997: ISBN81-203-1206-6. f) Sherlekar S.A., Ethics in Management, Himalaya Publishing House, Mumbai, 1998. g) Chakraborty S.K., Ethics in Management, Oxford University Press, Delhi 1995.

Evaluation: Mode of Evaluation Quizzes Term Paper & Group Presentation Article summary Review Examination End Term Examination Total Weightage 15% 15%(10% for the paper+5 % for presentation) 5% 15% 50 % 100%

Quizzes to be conducted during the 8th session and 25th session of the course for duration of 20 minutes each. Quizzes are to be conducted only in the written form. Term paper to be submitted not later than the 25th session of the course. The term paper will be a group activity and has to be submitted in 4000- 5000 words which will exclude the diagrams, charts, tables, reference lists, bibliography etc. Summary of the article has to be submitted during the 20th session of the course.

Topics for Article Summary and Review: 1. Consumer Protection Act 2. Negotiable Instruments Act 3. Latest changes in Patent 4. Latest case in Patent 5. Articles, Prospectus, Public Deposits and Debentures 6. Management of the company 7. Meeting of a company under new change 2008 8. Incorporation to memorandum 9. MCA 21 ( Steps in e-filing) 10. Escort Vs LIC of India 11. Latest changes in Trade Marks Negotiable Instruments Act 1881 12. Harman Electronics Pvt. Ltd. And Another Vs National Panasonic India Ltd. 13. Kumar Exports Vs. Sharma Carpets 14. A.K. Kamarudeen Vs. Bank of India, Chairman and others 15. National Small Industries Corporation Ltd. Vs. State (NCT of Delhi) 16. Sri Krishna Agencies Vs. State of A.P. and Anr Trade Marks Act

17. World Wide Brands Inc., Gurgaon Vs. Central Warehouse, Bangalore and others Disciplinary Code 18. ICAI Vs. Shri. Raj Kumar N. Iyer 19. ICAI Vs. Shri. P. V. Mehta 20. ICAI Vs. Shri. P. U. Patil 21. ICAI Vs. Shri Ramesh R Kapadia Consumer Protection Act 1986 22. Regional Provident Fund Commission Vs. Bhavani MRTP Act 23. Manjul Srinivas Vs. Govt. of U.P. and others 24. Prem Nath Ltd. Vs. Anurag Mittal Term Paper Topics 1. Domestic violence 2. Enron and World Com 3. Ministry of Corporate Affairs 21 4. MOA and AOA of a company with a turnover of 100 crores 5. Listing of the securities 6. Patent 7. Grey area in Advertising 8. Trade Marks 9. Corporate Governance 10. Latest changes in Company Act, Amendment Act 2008 11. Role of independent director Evaluation Criteria for the term paper: The paper will be evaluated on the basis of the criteria mentioned below: 1. Conceptual clarity 2. Self analysis with reasoning and drawing results from various tests 3. Ability to relate and draw inferences from various experiences and incidences 4. Clear sketch of the paper, and consistent application of the approach throughout 5. Relevance of the content (no superfluous or irrelevant information) 6. Information source, suitable referencing and bibliography 7. Format and language: clear division into sections, page numbering, language etc. 8. Students original contribution and creativity 9. Any plagiarism shall be viewed seriously and the students have to rework.