Lahore University of Management Sciences

MGMT 260 – Business Law

Spring 2023
Instructor Ali Sultan
Room No.
Office Hours TBA
Email ali.sultan@lums.edu.pk
Telephone +92 347 4455838
Secretary/TAs
TAs Office Hours TBA
Course URL (if any) suraj.lums.edu.pk

COURSE BASICS
Credit Hours 3
Lecture(s) Nbr of Lec(s) Per Week 2 Duration 75 Minutes
Recitation/Lab (per week) Nbr of Lec(s) Per Week NA Duration
Tutorial (per week) Nbr of Lec(s) Per Week NA Duration

COURSE DISTRIBUTION
Core Yes
Elective
Open for Student Category
Close for Student Category

COURSE DESCRIPTION
This course provides an overview of legal matters that students may potentially face in their personal and/or professional lives. To
this end, the course examines the legal principles applicable at the interaction of law and business and looks at the nature of legal
proceedings while covering substantive areas of the law essential for management, accounting and finance students. Landmark
cases from multiple jurisdictions will be used to understand the rules and motivations involved in each area of the law.

COURSE PREREQUISITE(S)
None

Course Teaching Methodology (Please mention following details in plain text)

 Teaching Methodology: In person
 Lecture details: In person sessions

COURSE OBJECTIVES
This course will:
1. Equip the students with discursive and substantive information on law relating to business relationships and
organization.
2. Sensitize students to the issues that continually arise in the area of business law, along with possible solutions.
3. Consider the role of public policy in shaping the law of business relationships and organization.
4. Enable the students to comprehend both the foundational arguments and the interpretative approaches to business

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law.
5. Develop analytical, cognitive and logical reasoning skills in a multidisciplinary context in the setting of business law.
6. Link business law to business practice.

LEARNING OUTCOMES
Upon completion of the course, students will be able to;

1. Demonstrate understanding of law relating to business relationships and organization.

2. Apply knowledge in practical situations.

UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES

General Learning Goals & Objectives
Goal 1 –Effective Written and Oral Communication
Objective: Students will demonstrate effective writing and oral communication skills
Goal 2 –Ethical Understanding and Reasoning
Objective: Students will demonstrate that they are able to identify and address ethical issues in an
organizational context.
Goal 3 – Analytical Thinking and Problem Solving Skills
Objective: Students will demonstrate that they are able to identify key problems and generate viable
solutions.
Goal 4 – Application of Information Technology
Objective: Students will demonstrate that they are able to use current technologies in business and
management context.
Goal 5 – Teamwork in Diverse and Multicultural Environments
Objective: Students will demonstrate that they are able to work effectively in diverse environments.
Goal 6 – Understanding Organizational Ecosystems
Objective: Students will demonstrate that they have an understanding of Economic, Political,
Regulatory, Legal, Technological, and Social environment of organizations.

Major Specific Learning Goals & Objectives

Goal 7 (a) – Discipline Specific Knowledge and Understanding
Objective: Students will demonstrate knowledge of key business disciplines and how they interact
including application to real world situations (Including subject knowledge).
Goal 7 (b) – Understanding the “science” behind the decision-making process (for MGS Majors)
Objective: Students will demonstrate ability to analyze a business problem, design and apply
appropriate decision-support tools, interpret results and make meaningful recommendations to support
the decision-maker

Indicate below how the course learning objectives specifically relate to any program learning goals and
objectives.

PROGRAM LEARNING GOALS AND COURSE LEARNING OBJECTIVES COURSE ASSESSMENT ITEM
OBJECTIVES
Goal 1 –Effective Written and Oral Provide students an opportunity to Class Participation, cross-questioning
Communication demonstrate effective communication
Goal 2 –Ethical Understanding and Provide students an opportunity to Class Participation, coverage of
Reasoning identify and understand ethical issues numerous legal cases
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Goal 3 – Analytical Thinking and Assess students’ problem solving skills Quizzes, Midterm & Final Exams
Problem Solving Skills
Goal 4 – Application of Information NA NA
Technology
Goal 5 – Teamwork in Diverse and NA NA
Multicultural Environments
Goal 6 – Understanding Organizational Provide students with multiple Testing and instruction on agency
Ecosystems perspectives on organizations relationships, partnership law, and
company law
Goal 7 (a) – Discipline Specific Real life applications of legal doctrines Case study of numerous legal cases
Knowledge and Understanding
Goal 7 (b) – Understanding the NA NA
“science” behind the decision-making
process

GRADING BREAKUP AND POLICY

Quizzes: 40%
Midterm Examination: 25%
Final Examination: 25%
Class Participation: 5%
Attendance: 5%

EXAMINATION DETAIL

Yes/No: Yes
Combine/Separate: Separate
Quizzes Duration: TBA
Preferred Date: TBA
Exam Specifications: TBA

Yes/No: Yes
Combine/Separate: Separate
Midterm
Duration: TBA
Exam
Preferred Date: TBA
Exam Specifications: TBA

Yes/No: Yes
Combine/Separate: Separate
Final Exam
Duration: TBA
Exam Specifications: TBA

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COURSE OVERVIEW
WEEK/
LECTURE/ TOPICS RECOMMENDED READINGS OBJECTIVES/APPLICATION
MODULE
 M. Todd Henderson, “Do
Lawyers Make Better CEOs
than MBAs?,” Harvard
Business Review, Aug.
2017.
 Adi Ignatius, “Managers
Don’t Have All the
Answers,” Harvard Business
Review, Aug. 2018.
 Bobby Allyn, “How Silicon Business Activities and Legal
Session 1  Introduction to Law and Business
Valley fervor explains Environment
Elizabeth Holmes' 11-year
prison sentence, NPR, Nov.
22.
 Nathan Reiff, “The Collapse
of FTX: What Went Wrong
With the Crypto
Exchange?” Investopedia,
Jan. 23.

 Omar Sial & Farah Khan,

 Law and Legal Reasoning
Session 2
Sessions 3 &  Court System and Alternative
4 Dispute Resolution
 Rule of Law and Judicial
Efficiency
“Legal Research Guide to
Pakistan,” NYU Hauser
Global Law School
Program, Jan. 2018.
Basic Legal Concepts
 Clarkson, Miller, Cross
(‘CMC’) pp. 2 – 14 (read
closely); 15 – 40 (skim); 41-
46 (read closely).
 .Jeffrey D. Sachs, “How a Courts & Alternative Dispute
World Bank Tribunal Resolution, RoL & Judicial Efficiency
Mugged Pakistan,” DAWN,
Nov. 2019.
 Editorial Staff, “Reko Diq
Agreement,” DAWN, Dec.
2022.
 Zafar Bhutta, “Pakistan to
Terminate 23 Bilateral
Investment Treaties,”
Express Tribune, Aug. 2021.
 US Department of State,
“2022 Investment Climate
Statements: Pakistan,”
State Department Reports,
2022.

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 Ali Sultan, “Rule of Law &
Judicial Efficiency,” UNDP
Development Advocate
Pakistan, Jan. 2018.

Session 5 Quiz I – 10%

 CMC pp. 116 – 132.

 Adeel Wahid, “The Missing
Session 6  Intentional Torts and Privacy Torts
Claims,” DAWN, Aug. 2021.

Sessions 7 &  CMC pp. 136 – 148.

 Negligence and Strict Liability Negligence and Strict Liability
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 CMC pp. 429 – 438.
 Product Liability and Consumer Product Liability and Various
Session 9  Punjab Consumer
Protection Law Consumer Safeguards
Protection Act, 2005 (skim).

Session 10 Quiz II – 20%

 CMC pp. 206 – 219.

 Contract Act, 1872 (skim)
 Nature and Terminology of
Session 11  Sale of Goods Act, 1930 Introduction to Contracts
Contract Law
(skim).

 Agreement in Traditional  CMC pp. 222 – 233.

Session 12 Elements of Contracts
Contracts

Session 13  Consideration  CMC pp. 243 – 252. Elements of Contracts

 Legality Elements of Contracts/ Writing

Session 14  CMC pp. 260 – 270.
 Statute of Frauds Requirement

Sessions 15  Mistakes, Fraud and Voluntary  CMC pp. 274 – 285.

Mistakes and Duress etc.
& 16 Consent
 CMC pp. 319 – 331.
 Muhammad Yar Lak, “The
Sessions 17  Performance and Discharge in Impact of Covid-19 on Contractual Performance &
& 18 Traditional and E Contracts Contractual Rights and Discharge
Obligations in Pakistan,”
LUMS Law Journal, 2020.
Session 19 Midterm Examination – 25%
 CMC pp. 174 – 196.
 Pakistan Penal Code, 1860
Sessions 20 - Elements of Crime and Electronic
 Criminal Law and Cyber Crime (skim).
22 Crime
 Prevention of Electronic
Crimes Act, 2016 (skim).

Session 23 Quiz III – 10%

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 Sole Proprietorships and
Session 24  CMC pp. 706 – 716. Business Organization
Franchises
 CMC pp. 719 – 735.
 Partnership Act, 1932
(skim). Partnerships and Limited Liability
Session 25  Partnership Law
 Limited Liability Partnerships
Partnership Act, 2017
(skim).
 CMC pp. 753 – 771.
 Corporate Formation and
Session 26  The Companies Act, 2017 Company Formation and Financing
Financing (skim).
 Corporate Directors, Officers and
Session 27  CMC pp. 775 – 793. Corporate Governance
Shareholders

Session 28 Final Exam – 25%

TEXTBOOK(S)/SUPPLEMENTARY READINGS

Course Reading Pack: *Clarkson, Miller, Cross: Business Law Text & Cases*

Supplementary Reading

 The Constitution of Pakistan, 1973

 Code of Civil Procedure, 1908
 Code of Criminal Procedure, 1898
 Qanun-e-Shahadat Order, 1984 (Law of Evidence)
 Arbitration Act, 1940
 The Contract Act, 1872
 Sale of Goods Act, 1930
 State Bank of Pakistan Act, 1956
 Financial Institutions (Recovery of Finances) Ordinance, 2001
 The Bankers Books Evidence Act, 1891
 The Commercial Documents Evidence Act, 1939
 Punjab Consumer Protection Act, 2005
 Pakistan Penal Code, 1860
 Prevention of Electronic Crimes Act, 2016
 Trademarks Ordinance, 2001
 Patents Ordinance, 2003
 Registered Design Ordinance, 2000
 Copyright Ordinance, 1962
 The Geographical Indications (Registration and Protection) Act, 2020
 Partnership Act, 1932
 Limited Liability Partnership Act, 2017
 The Companies Act, 2017
 The Competition Act, 2010
 Pakistan Environmental Protection Act, 1997