Lovely Professional University,Punjab

Format For Instruction Plan [for Courses with Lectures and Tutorials

Course No MGT518

Cours Title CORPORATE AND BUSINESS LAWS

Course Planner 11921 :: Nancy Sahni

Lectures Tutorial Practical Credits 3 1 0 4

Text Book:

1 Kapoor, N.D, Mercantile Law, Sultan Chand and Sons. 2011

Other Specific Book:

2 Tulsian, P.C., Business Laws, Tata Mcgraw Hill 3 Pathak Akhilesh, Legal Aspects of Business 4 Iyengar, S.P and Goyal, B.K, Mercantile Law with Industrial Law, R.Chand and Co 5 Avtaar Singh , Company Law , Eastern Book Company

Other Reading Sr No Jouranls atricles as compulsary readings (specific articles, Complete reference) 6 "Contract Management-Legal and Regulatory Framework" By Kumar Naresh; source: http://www.icsi.edu/cs/July%202011/Articles/Contract%20Management %20%E2%80%93%20Legal%20and%20Regulatory%20Framework%20-%20Naresh%20Kumar%20-%202.pdf 7 "Banking Frauds in emerging Markets" by Kumar Naveen; source: http://www.icsi.edu/cs/May%202011/Articles/Banking%20Frauds%20in%20Emerging %20Markets%20by%20Naveen%20Kumar%205.pdf 8 "Execution of contracts and Legal Remedies available for breach of contract" By Dagar Kailsah; source:http://www.icsi.edu/cs/March %202011/Articles/Execution%20of%20Contracts%20and%20Legal%20Remedies%20available%20for%20Breach%20of%20Contract%20by%20Kailash%20K. %20Dagar%20and%20Dhanraj%20P.%20Dagar%203.pdf 9 " Limited Liability Vs Partnership" By shanks sanam; source: http://jurisonline.in/2010/05/limited-liability-partnership-vs-partnership/ source: http://web.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=00bc6696source: http://papers.ssrn.com/sol3/papers.cfm? 10 "Corporate Governance Reforms and Financial Disclosures" By sanan Neeti; 85a1-405d-8183-dadcb0383bf1%40sessionmgr104&vid=2&hid=110 11 "The Enron Trail Drama: A new case for Stakeholder Theory" By Powell Russel; abstract_id=1031476&download=yes 1

Approved for Spring Session 2011-12

12 "Consumer Rights to Redress against Traders Under the law of supply of goods: A comparative study of selected Jurisdictions" Management, July 2011, Vol 2 Relevant Websites Sr. No. (Web adress) (only if relevant to the courses) 13 www.legalserviceindia.com 14 http://www.clb.nic.in/ 15 www.lawcommissionofindia.nic.in/1-50/reports.pdf 16 www.mca.gov.in/.../dca/actsbills/.../Companies_Act _1956_Part_1.pdf 18 http://www.vernimmen.com/html/articles/article18.html 19 http://www.llp.gov.in/FAQ.htm 20 http://www.rkdewan.com/iprOverviewPatent.jsp 21 http://www.eximguru.com/exim/reserve-bank/fema.aspx 22 http://www.authorstream.com/Presentation/gurvinderjeet339526-information-technology-act-2000-sciencepptpowerpoint/ 23 http://www.helplinelaw.com/docs/THE%20COMPETITION %20ACT,%202002 24 http://en.wikipedia.org/wiki/Value_added_tax 25 http://www.ftc.gov.bb/library/2003-0613_unfair_trade_practices.pdf Salient Features Cases and examples on Indian legal aspects Latest procedural guidelines for companies Various mercantile laws related articles are available Information about acts, bills, rules & information reports.

source: Journal of Global

17 http://jurisonline.in/2009/02/snap-shot-of-companies-bill-2008/ snapshot of companies bill why do companies buy back their shares Limited Liability Partnership IPR Act FEMA IT Act

compaetition act Value added Tax unfair trade practices

Detailed Plan For Lectures

Week Number Lecture Number Lecture Topic Chapters/Sections of Pedagogical tool Textbook/other Demonstration/case reference study/images/anmatio n ctc. planned

Part 1
Week 1 Lecture 1 Foundations of business law: Indian legal system I)Definition II)scope & sources of business law ->Reference :1,Chapter 1 examples

Approved for Spring Session 2011-12

Week 1

Lecture 2

Nature of contract: Object of Law of ->Reference contract,Definition of Contract, Essential elements of :1,Chapter 1 a valid contract, Classification of Contracts: according to their Validity, Formation or performance Offer: Meaning, How an offer is made,what constitutes an offer, Legal rules as to offer, Cross Offers,

Ch 1(Case-Balfour v. Balfour)

Lecture 3

->Reference :1,chapter Ch 2 -2 Case-Carlill v. Carbolic Smoke Ball Co.)

Week 2

Lecture 4

Acceptance: Meaning, Who can accept, Legal rules ->Reference :1,chapter Case-Harvey v.Facie as to Acceptance, Communication of Offer, -2 Acceptance and Revocation, when does an offer ->Reference :8,Article come to an end Consideration: Definition, Need, Legal rules as to Consideration, A Contract without consideration is Void-Exceptions Capacity to Contract: Minors, Person of Unsound Mind, Other Persons ->Reference :1,chapter Ch 3 -3 Case-Chinayya v.Ramayya ->Reference :1,chapter Ch 4 -4 Case-Mohori Bibi v. Dharmo das Ghose ->Reference :1,chapter Ch 5 -5 i)Case on coercionRanganayakamma v. Alwar ii)Case on undue influence-Moody v. Cox ->Reference :1,Chapter 5 Case on fraud-Peek v.Gurney Case on misrepresentation-Derry v. Peek

Lecture 5

Lecture 6

Week 3

Lecture 7

Free consent: Meaning of Consent and Free Consent, Flaw in consent: Coercion, Effect of Coercion, Undue Influence, Effect of undue influence,

Lecture 8

Misrepresentation and Fraud: Requirements of Misrepresentation, Fraud, Essential Elements, Mistake: of Law and of Fact, Exceptions

Lecture 9

Indemnity & Guarantee: Contract of Indemnity, Contract of Guarantee, Extent of surety's liability, Kinds of guarantee, Rights of surety Bailment: Meaning, Requisites of bailment, Consideration in a contract of bailment, Classification of Bailments, duties and rights of Bailor and Bailee

->Reference :1,Part Two Chapter-1 ->Reference :1,Part II Chapter-2 Ch 13 Case-Shaw and co.v.Symmons & Sons Ch 14 i)Case-Bolton Partners v.Lambert

Week 4

Lecture 10

Approved for Spring Session 2011-12

Part 2
Week 4 Lecture 11 Contract of Agency: Definition of Agent and ->Reference :1,Part II Principal, Creation of Agency, Classification of Chapter-3 Agents, Relation of Principal and Agent, Termination of Agency Sale of goods act -Introduction -formation of Contract of sale ->Reference :1,>Reference 1Part II Chapter 4-1 ->Reference 1Part II Chapter 4-2 ->Reference :1,>Reference 1Part II Chapter 4-2 Case-Keighley v. Durant

Lecture 12

Case-Niblett Ltd v Confectione rs Materials Ltd 2/Ch 2Case Study: Rowland V. Divall

Week 5

Lecture 13

Conditions(express& implied)

Lecture 14

Warranties(express & implied)

->Reference :1,Morelli v. Fitch and >Reference 1Part Two Gibbons Chapter - 4-2 Case on Caveat Emperor-Jones v. Padgelt 2/ Ch 4 Case (Mitchell Reid & Co. v Buldeo 2/Ch 5 Case-Bathell v. Clark

Lecture 15

Performance of contract of sale: Delivery of Goods, ->Reference :1,Rights and Duties of the Buyer >Reference 1Part II Chapter 4-4 Rights of an unpaid seller -against goods - against the buyer personally Remedies for breach of contract of sale Partnership Act, formation and dissolution ->Reference :1,Part II chapter 4-5

Week 6

Lecture 16

Lecture 17

->Reference :1,Limited Liability Vs >Reference 1; chapter Partnership" By shanks 5-1 sanam; ->Reference :9,Article ->Reference :1,Limited Liability Vs >Reference 1; chapter Partnership" By shanks 5-2 sanam; ->Reference :19 ->Reference :1,>Reference 1Part II Chapter 6 ->Reference :1,>Reference 1Part II Chapter 6

Lecture 18

Limited Liability Act

Week 7

Lecture 19

Definition & Types of Negotiable instruments Negotiation -transfer by negotiation -transfer by assignment Endorsement Crossing of cheques

Lecture 20

Approved for Spring Session 2011-12

Week 7

Lecture 21

Parties to negotiable Instrument Dishonour of cheques

->Reference :1,Part ii chapter 6

MID-TERM Part 3
Week 8 Lecture 22 Company: Definition, Characteristics of a company, ->Reference :1,Volume 2/Ch 2 Lifting or piercing the Corporate veil II Chapter - 1 i) Case-Salomon v. Salomon and Co. Ltd. ii)Case-Macaura v. Northern Assurance Co.Ltd Classification of Companies: On the basis of Incorporation; Liability; Number of Members; Control; ownership Formation of company: Electronic Filing of Forms, Incorporation of Company, Certificate of Incorporation ->Reference :1,Volume II Chapter - 2 ->Reference :1,Volume 2/Ch 4 II Chapter 3 Case-Moosa v.Ibrahim ILR

Lecture 23

Lecture 24

Week 9

Lecture 25

Memorandum of association: Contents of ->Reference :1,Volume 2/Ch 5 Memorandum, Alteration of Memorandum, Doctrine II Chapter- 4 i)Case-Re Cyclists of Ultra Vires Touring Club ii)Case on Ultra ViresAshbury Railway Carriage and Iron Co.Ltd. vs. Riche Articles of association: Contents of Articles, Legal effect, Constructive notice of Memorandum and Articles, Doctrine of Indoor Management, Exceptions to the doctrine of indoor management ->Reference :1,Volume 2/Ch 6 II Chapter - 5 Case-British Murac Syndicate v. Alperton Rubber Co.Ltd.

Lecture 26

Lecture 27

Prospectus: Definition, Shelf prospectus, Red->Reference :1,Volume Case on Prospectus : : herring prospectus, Abridged prospectus, II Chapter - 6 :Kisan Mehta v Misstatements in Prospectus and their consquences Universal Luggage Manufacturing Company Limited(4/Pg.295) Shares: Definition, stock and shares, types of ->Reference :1,Volume 2/Ch 9 shares, application and allotment, calls on shares, II Chapter - 9 Case-Foster v. Coles & share certificate, share warrant, Transfer of shares, Foster &sons.ltd. Lien on shares, Surrender and Forfeiture of shares Share capital: Kinds, Alteration and Reduction of share capital ->Reference :1,Volume II Chapter-8

Week 10

Lecture 28

Lecture 29

Approved for Spring Session 2011-12

Part 4
Week 10 Lecture 30 Company Management: Directors, Appointment, Position, Disqualification, Duties of Directors, meetings of directors Meetings: Meaning, General Meeting of shareholders: Statutory, Annual General Meeting, Extraordinary General Meeting. Requisites of a Valid meeting Winding up: Meaning of Winding up, Modes of winding up, Consequences of winding up order ->Reference :1,Volume 1/Ch 11 II Chapter 10 Case-Allexander V. Automatic telephone Co. ->Reference :1,Volume 2/Ch 15 II Chapter 11 Case laws on all kinds of meetings

Week 11

Lecture 31

Lecture 32

->Reference :1,Volume 2/Ch 21 II Chapter - 16 i)Case-Bachchraj Factories Ltd.v.Hirjee Mills.Ltd. ii)Case-Fowler v.Commercial Timber Co.Ltd. ->Reference :1,Volume II Chapter - 16 ->Reference :1,part 4; chapter 1 ->Reference :12,Journal Consumer Rights to Redress against Traders Under the law of supply of goods: A comparative study of selected Jurisdictions

Lecture 33 Week 12 Lecture 34

Dissolution of a company Consumer Protection Act

Lecture 35 Lecture 36 Week 13 Lecture 37

consumer protection act, redressal, authorities

->Reference :1,part 4 chapter 1

contemporary issues in Business, FEMA , Alterante ->Reference :21 dispute resolution Intellectual Property Rights Act Patents & Copyright protection -functioning and procedure of Patents Act -organization of copyright Law on Trade Mark Protection -features -development New Trade Mark Act ->Reference :20,

Lecture 38

Lecture 39

Approved for Spring Session 2011-12

Spill Over
Week 14 Lecture 40 Lecture 41 Lecture 42 Week 15 Lecture 43 Competition Act,2002 IT Act Value Added Tax Unfair Trade Practices Act: -Development of law on UTP ->Reference :23 ->Reference :22 ->Reference :24 ->Reference :25

Details of homework and case studies

Homework No. Objective Topic of the Homework Nature of homework (group/individuals/field work Individual Evaluation Mode Allottment / submission Week 4/4

Test 1

To check the Topics: Foundation, Nature of contract, offer and acceptance, analytical ability of consideration, capacity to contract, Free consent, the students Misrepresentation, Idemnity To test the ability of students with respect to legal aspects Bailment, Agency, sales of goods act, conditions and warranties, performance of contract

test

Test 2

Individual

test

6/6

Test 3

To test the company- classification, formation, Memorandum of association, analytical ability of articles of association, Prospectus, shares, share capital and students with company management respect to legal framework

Individual

test

11 / 11

Scheme for CA:out of 100*

Component Test Frequency 2 Total :Out Of 3 Each Marks Total Marks 10 10 20 20

* In ENG courses wherever the total exceeds 100, consider x best out of y components of CA, as explained in teacher's guide available on the UMS

Approved for Spring Session 2011-12

Plan for Tutorial: (Please do not use these time slots for syllabus coverage)
Tutorial No. Lecture Topic Type of pedagogical tool(s) planned (case analysis,problem solving test,role play,business game etc)

Tutorial 1 Tutorial 2 Tutorial 3 Tutorial 4 Tutorial 5 Tutorial 6 Tutorial 7

Contract Management-Legal and Regulatory Framework" By Kumar Naresh case laws: contract act, consideration, capacity Banking Frauds in emerging Markets" by Kumar Naveen Test- 1 case laws: bailment and agency, sale of goods act test-2 Doubt Clearing

Reference -6 Case analysis Reference-7 Test Problem solving

After Mid-Term
Tutorial 8 Tutorial 9 Tutorial 10 Tutorial 11 Tutorial 12 Tutorial 13 Corporate Governance Reforms and Financial Disclosures" By sanan Neeti case laws on formation of company, memorandum of association The Enron Trail Drama: A new case for Stakeholder Theory" By Powell Russel; test-3 case laws prospectus, mamagement of companies Doubt clearing Session Reference-11 Test Problem solving Reference -10

Approved for Spring Session 2011-12