Lahore School of Economics

COURSE PACK

Course: Business law

Instructor: Sadaf Shahjehan

Semester: Spring

Year: 2021
 COURSE: BUSINESS LAW (LAW 220)

SYLLABUS

I. LEGAL SYSTEM
II. LAW OF CONTRACT
III. VITIATING FACTORS IN A CONTRACT
IV. LAW OF PARTNERSHIP
V. COMPANY
VI. NEGOTIABLE INSTRUMENTS
VII. INTELLECTUAL PROPERTY

CORE READING LIST

Core Reading List: David Kelly, Ruby Hammer and John Hendy, business law, third edition
 COURSE: BUSINESS LAW (LAW 220)

COURSE OBJECTIVES:

The course aims to develop knowledge and understanding of the legal framework within which
businessmen operate and some of the legal issues arising in relation to the protection of property rights
and enforcement of contracts.
On complexion of the course, students should have a fair idea of the law-business nexus, and especially of
the role played by the law in the conduct of business activities. To that end, they will be expected to
develop a sufficient level of understanding of:
 The rule of law tradition, its European origins and its transmission to other parts of the world,
including Pakistan
 The meaning of law itself, touching on its nature, classification, and sources and the different legal
systems in which it has taken root
 The stage legal institutions, especially the judiciary, including the courts, which play a central role
in the enforcement of law
 A selection of substantive rules of business law (including company law, partnership law, contract
(including agency) law, law relating to negotiable instruments, law of sale of goods, and law
relating to intellectual property, as they appear both on paper and in action (rules of the game)
 The concerns such rules give rise to, particularly insofar as they impact contracts and property
rights

TEACHING STRATEGY:
The teaching Strategy will include class room lectures, assignments, articles, presentations and announced
quizzes.
ASSESSMENT CRITERIA:

Final exam 15%

Midterm 10%
Quizzes 30%
Presentations 30%
Attendance and CP 15%
 COURSE: BUSINESS LAW (LAW 220)

LECTURE LECTURE SESSION DISCUSSION

# SESSION
1 DEFINITION AND PURPOSE OF LAW
2 TYPES AND SYSTEMS OF LAW
3 RULE OF LAW
4 SOURCES OF LAW
5 SEPARATION OF POWERS
6 Quiz 1
7 INTRODUCTION TO THE LAW OF CONTRACT
NATURE AND CLASSES OF CONTRACTS: Requirements of a contract, Contracts
8
Contrasted with Agreements, Classification of Contracts
OFFER AND ACCEPTANCE: Requirements of a Valid Offer, Invitations to make offers,
9
Duration of the offer, The Acceptance, Counteroffers, Manner of Acceptance
10 CAPACITY TO CONTRACT: Mentally Incompetent People, Intoxicated People, Convicts
CONSIDERATION: Nature of Consideration, Adequacy of Consideration, Exceptions to
11
Requirement of Consideration

13 DEFECTIVE AGREEMENTS: Mistakes, Fraud, Duress, Undue Influence, Remedies

ILLEGAL AGREEMENTS: Contracts Prohibited by Statute, Contracts contrary to Public
14
Policy
15 Midterm
WRITTEN CONTRACTS: Reasons for Written Contracts, Statute of Frauds, Note or Memo,
16
Other Written Contracts, Parol Evidence Rule
THIRD PARTIES AND CONTRACTS: Involving a Third Party, Technicalities of an
17
Assignment, Joint, Several and Joint and Several Contracts
TERMINATION OF CONTRACTS: Methods by which Contracts are Terminated, Remedies
18
for Breach of Contract, Malpractice
19 Breach of Contract
20 Vitiating factors in a Contract
Company Law
21
22 Negotiable Instruments
23 Law of Partnerships
24 Intellectual Property Righta
25 Quiz 2
26 Revision
27,28 &29 PRESENTATIONS
30 FINAL EXAM