LEGAL ASPECTS OF BUSINESS

Course Code: Course Objective:

To give insight to various Legal Aspects of Business so that the students are able to interpret the provisions of some of the important laws and apply the same in commercial and industrial enterprises.

MMS 201

Credit Units: 03

Course Contents:
Module I: Indian Contract Act, 1872 Nature and kinds of Contracts, Concepts related to offer, Acceptance and Consideration, Principles Governing Capacity of Parties and Free Consent, Legality of Objects, Performance and Discharge of Contract, Breach of Contract and its Remedies,Special contracts of Bailment and Pledge, Indemnity and Guaratnee, Contract of Agency. Module II: Sale of Goods Act, 1930 Sale and Agreement to Sell, Hire Purchase Pledge Mortgage Hypothecation Lease. Goods Different types of Goods, Passing of Property in Goods, Conditions and Warranties, Doctrine of Caveat emptor, Rights of an unpaid Seller. Module III: Negotiable Instruments Act, 1881 Meaning of Negotiability and Negotiable Instruments Cheques Bill of Exchange and Promissory Note Crossing of Cheques Endorsement Dishonour of Cheques. Module VI: Company Law Companies Act, 1956-Meaning and types of companies, Formation of a company, Memorandum and Articles of Association, Share Capital and Shareholders, Prospectus and Issue of Shares, Buy Back of Shares, Debentures, Company Meetings and Proceedings, Powers, Duties, Liabilities of Directors and Winding up of Company. Module V: Indian Partnership Act, 1932 Meaning and definitions, Registration of partnerships, Types of partners, Dissolution, Limited Liability Partnership Act, 1932 Meaning & definitions, Meaning of designated partner, Registration of LLP, Types of partners, Dissolution Module VI: Intellectual Property Laws (IPR) Overview of Law & Procedure relating to Patents, Trade marks & Copyrights, Infringement

Examination Scheme:
Components Weightage (%) CPA 5 TP 5 Q/S 5 A 5 ME 10 EE 70

Text & References:

Gulshan SS (2003), Elements of Mercantile Law, Excel Books, N. Delhi. Kuchhal MS (2010),Business Law, Vikas Publication Tulsian PC, (2002), Relevance of Business Law, Tata McGraw Hills. Singh Avtar, (2006),Elements of Mercantile Law, S. Chand & Sons.