Study Scheme 2018

OPERATIONAL LEVEL-2
O6 - COMMERCIAL LAWS
INTRODUCTION LEARNING OUTCOMES
This course is designed to focus on the important On completion of this course, you should be able to:
topics of Business Laws, governing the operational  Understand the legal system of Pakistan
aspects of business. A thorough study of this course  Comprehend the sources of business laws;
will develop students’ knowledge about the legal  Understand the various laws and provisions
system, contract, Partnership, Sales and Procurement contained in the contract act, 1872;
Laws apply in Pakistan.  Elucidate the various laws and provisions
contained in the sale of goods act. 1930 and
OBJECTIVE partnership act, 1932
To equip the students with the knowledge of business  Comprehend the laws related to negotiable
laws, the course enables them to: instrument act, 1881;
 Understand the legal system of Pakistan  Get acquainted with Public Procurement
 Understand application of commercial laws in Regulatory Authority (PPRA) Act and rules;
industry  Interpret Public Procurement Authority Laws
 Advise the management on the financial and non- and its practical guidelines used for tendering,
financial implications of business laws for the bidding and awarding of contracts.
effective operations of the business.
INDICATIVE GRID
PART SYLLABUS CONTENT AREA WEIGHTAGE
A 1 Introduction to Legal System of Pakistan 10%
2 The Contract Act, 1872
3 Sales of Good Act, 1930
B 70%
4 Partnership Act, 1932
5 Negotiable Instrument Act, 1881
6 PPRA Ordinance, 2002 (Public Procurement Regulatory Authority)
C 20%
7 PPRA Rules, 2004
TOTAL 100%
Note: The weightage shown against each section indicates, study time required for the topics in that section. This
weightage does not necessarily specify the number of marks to be allocated to that section in the examination.

DETAILED CONTENTS
PART – A  Merits and demerits
 Kinds of partners including clauses related
1. Introduction to Legal System of Pakistan
to minor partner
 Need of study of law
 Difference between partnership and co-
 Sources of law
ownership
 System of court
 Formation of partnership
 Doctrine of precedent
 Types of partnership
 Pakistan’s law making authority
 Registration of firms and effect of non-
PART - B registration
 Rights, duties and liabilities of partner
2. The Contract Act, 1872  Implied authority and non-implied authority
 Contract and its kinds of partner
 Offer and acceptance  Re-constitution of a firm (incoming &
 Consideration and object outgoing partners)
 Capacity of parties  Modes of dissolution of a firm;
 Free consent
 Void agreements 5. Negotiable Instrument Act, 1881
 Contingent and quasi contracts  Negotiable instrument
 Performance of contract  Parties to negotiable instrument
 Discharge of contract  Presentment of negotiable instrument
 Remedies for breach of contract  Negotiation of negotiable instrument
 Indemnity and guarantee  Dishonor of negotiable instrument
 Bailment and pledge  Banker and customer
 Contract of agency
PART – C
3. Sales of Good Act, 1930
 Contract of sale of goods 6. PPRA Ordinance, 2002 (Public Procurement
 Conditions and warranties Regulatory Authority)
 Transfer of property  Chapter I.-Preliminary
 Performance of contract of sale  Chapter II.-Establishment Of Authority
 Rights of unpaid seller  Chapter III .-Management A nd
Administration Of The Authority
4. Partnership Act, 1932  Chapter IV.-Financial Provisions
 Definition and essential features  Chapter V.-Regulatory and Other Provisions.

1
 Study Scheme 2018
 Chapter VI.-Miscellaneous  Methods Of Procurement
 Opening, Evaluation And Rejection Of Bids
7. PPRA Rules,2004
 Acceptance Of Bids And Award Of
 Short title and commencement.
Procurement Contracts
 General Provisions
 Maintenance Of Record And Freedom Of
 Procurement planning
Information
 Procurement Advertisements
 Redressal Of Grievances And Settlement Of
 Pre-Qualification, Qualification A nd
Disputes
Disqualification Of Suppliers A nd
Contractors

Recommended Books:
Core Readings
TITLE AUTHOR PUBLISHER
Bare Acts Govt. of Pakistan Publications Division, Govt. of Pakistan.
Elements of Mercantile Law N.D. Kapoor Sultan Chand and Sons
Mercantile Law Luqman Baig Ghanzanfar Academy Pakistan
PPRA Rules Govt. of Pakistan Govt. of Pakistan