L T P/S SW/F TOTAL

Course Title: Legal Aspects of Business W CREDIT

UNITS
Course Code:
Credit Units: 3 3 0 0 0 3

Course Objectives:

This course aims to develop in the student an understanding of the core principles of the laws that regulate business organisations. Course would develop the
independent and individual skills needed for students to take their knowledge further, and to apply it in practice in industry, or business environment.

Prerequisites:

Fundamental knowledge of the Indian Legal framework and current legal issues faced by the businesses.

Student Learning Outcomes:

By the end of this course the students would be able to:

• identify and explain the legal issues arising in some of the main day-to-day dealings of business organisations and provide advice or commentary relating to
those issues
• define and discuss the core concepts inherent in the legal structure of business organisations
• interpret the main statutory provision relevant to the areas covered by the syllabus.
Course Contents/Syllabus:
Weightage (%)
Module I: Commercial Laws
  Indian Contract Act: Definition of contract, Nature and kinds of Contracts, essentials elements and types of a 20%
contract, Formation of a contract, performance of contracts, breach of contract and its remedies. Principles
Governing Capacity of Parties and Free Consent, Legality of Objects, Performance and Discharge of Contract,
Breach of Contract and its Remedies, Quasi contracts, Special contracts of Bailment and Pledge, Indemnity and
Guarantee, Contract Of Agency: Nature of agency, Creation and types of agents, Authority and liability of Agent
and principal: Rights and duties of principal and agents, termination of agency.
 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.
 Negotiable Instruments Act, 1882: Meaning of Negotiability and Negotiable Instruments, Nature and
requisites of negotiable instruments, Types of negotiable instruments, Cheques Bill of Exchange and Promissory
Note –liability of parties, holder in due course, special rules for Cheque and drafts, Crossing of Cheques –
Endorsement – Dishonour of Cheques, discharge of negotiable instruments.

Module II Partnership 20%

 Indian Partnership Act 1932: Meaning and definitions, Registration of partnerships, Types of partners,
Dissolution,
 Limited Liability Partnership Act, 2008– Meaning & definitions, Meaning of designated partner, Registration
of LLP, Conversion into LLP, Dissolution

Module III Companies Act 2013

20%
 Companies Act, 2013-Meaning and types of companies, Formation of a company, Incorporation of companies-
Memorandum and Articles of Association, Securities Regulation- Share Capital and Shareholders, Prospectus,
Issue of Shares and Raising of Capital, Buy Back of Shares, Debentures, Company Meetings and Proceedings,
Powers, Duties, Liabilities of Directors, Merger and Amalgamation and Winding up of Company, MCA21,
Corporate Governance and SEBI-Objectives and Functions

Module IV Consumer Protection Act 1986

 Consumer Rights, Procedures for Consumer Grievances Redressal, Types of consumer Redressal Machineries 20%
and Forums.

Module V Miscellaneous Themes

 Introduction of IPR – Overview of Law & Procedure relating to Copy rights, Trade marks, Patent Act, 20%
Infringements.
 Information Technology Act 2008- Scope , Applicability and penal provisions
Pedagogy for Course Delivery:

With the changing paradigms in business and the presence of complex legal frameworks it is important that one should be legally aware and have knowledge
of, and ability to use, fundamental tools of legal research in business. This course is a yardstick to Identifying ethical principles and their application in the
classroom , Develop and apply a command of the ethical guidelines and rules of professional responsibility necessary to demonstrate competence as a paralegal.

Assessment/ Examination Scheme:

Theory L/T (%) Lab/Practical/Studio (%) End Term Examination

100% NA 100%

Theory Assessment (L&T):

Continuous Assessment/Internal Assessment End Term Examination

Components (Drop down)

Mid-Term Exam Project Viva Attendance

Weightage (%)

10% 10% 5% 5% 70%

Text & References:

 N.D Kapoor, Elements of Mercantile Law, Sultan Chand & Company, India, 2006.

 Akhileshwar Pathak, Legal Apects of Business, Tata Mc Graw Hill, India, 2009.
 P.K Goel, Business Law for Managers, Biztantra Publishers, India,2008.

 P. P. S. Gogna, Mercantile Law, S. Chand & Co. Ltd., India, Fourth Edition, 2008.

 Dr. Vinod, K. Singhania, Direct Taxes Planning and Management, 2008.

 Richard Stim, Intellectual Property- Copy Rights, Trade Marks, and Patents, Cengage Learning, 2008.

 Balachandran V., Legal Aspects of Business, Tata McGraw Hill, 2012

 Daniel Albuquerque, Legal Aspect of Business, Oxford, 2012

 Ravinder Kumar– Legal Aspect of Business.– Cengage Learning, 2nd Edition-2011.