LEGAL AND STATUTORY

RESPONSIBILITIES
LECTURE 03
LAW OF TORT

• Tort law concerns breaches of duties other than those arising out of a contract
which gives rise to legal action by the aggrieved party against the wrong doer.
PARTNERSHIP LAW

• Partnership is the relationship which subsists between persons carrying on a business

together with the objective of making a profit.
COMPANY LAW

• Companies law (or the law of business associations) is the field of law concerning
companies and other business organizations.
BANKING LAW

• Banking law is the law that applies all activities conducted by a bank and
transactions between banks and there customers.
INTELLECTUAL PROPERTY LAW

• Intellectual property is intended to cover all creations of mind of any person,

which law recognizes and protects.
• Patent,commerical interest, trade marks,desgins.
• Ex: Author of a book has copyright to protect his interests
INDUSTRIAL AND LABOUR LAW

• Industrial and labour law regulates the rights and abilities between employers
and employees and protect employees from unjust exploitation and wrongful
treatment by their employers.
LAW OF CONTRACT
 AIMS

• What is a contract ?

• Legal concept of Contract

• Termination of Contract
 CONTRACT

• Contract is an agreement between two or more parties enforceable under law.

• Purpose: tie down the future
• Generally agreement is made when
Other party accepts the offer
• Offeror & offeree
 OFFER & ACCEPTANCE

• Offer is an willingness to contract on specified terms made with the intention.

That is binding as soon as it is accepted by the person to whom it is addressed.
• Acceptance is a final and unqualified expression of agree to the terms of the
offer.
•Thank you!!!!