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SMAW 217A LAWS GOVERNING BUSINESS IN INDIA

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Overview:

The purposes and functions of business law include maintaining order, protecting rights and
liberties, establishing standards, and resolving disputes when it comes to businesses and their
interactions with individuals, government agencies, and other businesses. As business becomes
increasingly globalized, the business laws of various governments and nations may be in conflict.
It's important for business owners to understand how business law impacts commerce both
domestically and abroad.

Business law standards include having expectations for following laws of other countries,
distinguishing between unethical and legal behaviour, and establishing social responsibility as a
cornerstone of global citizenship. Most recently, new areas of business law must navigate the
effects of modern technology. In fact, computer law is even a subspecialty within business law
because of its importance in this realm.

Objectives and Expected Outcomes:

 The objective of this course is to provide the students with practical legal knowledge of
general business law issues.
 It aims at providing a rich fund of contemporary knowledge , time tested principles, basic
concepts, emerging ideas, evolving theories, latest technique , ever changing procedures &
practices in the field of Law
 The primary objective to course is to familiarize the student with various principles of
contract formation enunciated in the Indian Contract Act 1872 and sales of Goods Act
1930.
 To explain the framework within which business activities shall be carried out.
UNIT I
The Indian Contract Act 1872: Contract – meaning, characteristics and kinds, essentials of valid
contract – offer and acceptance, consideration, contractual capacity, free consent, legality of
objects.

UNIT II
The Indian Contract Act 1872: Void agreements, Discharge of contract – modes of discharge
including and its remedies. Contingent contracts. Quasi – contracts.

UNIT III
The Indian Contract Act 1872: Contract of Indemnity and Guarantee, Contract of Bailment,
Contract of Agency. Consumer Protection Act.

UNIT IV
Sale of Goods Act 1930. Contract of sale, meaning and difference between sale and agreement to
sell. Conditions and warranties, Transfer of ownership in goods including sale by non-owners,
Performance of contract of sale, unpaid seller – meaning and rights of an unpaid seller against the
goods and the buyer.

TEXT BOOKS:
1. M.C.Kuchhal, Business Laws, Sultan Chand & Co., New Delhi.
2. N.D.Kapoor, Merchantile Law. Sultan Chand & Co., New Delhi.
3. Tulsian, P.C., Business Laws, Tata McGraw Hill Education, 2nd Edition.
4. P.P.S Gogna, Mercantile Law, Sultan Chand & Co., New Delhi.

REFERENCE BOOKS:
1. Sulphey,Bashe, Business Laws, PHI Learning Pvt. Ltd., New Delhi.
2. Kuchhal, M.C, Kuchhal, Vivek, Business Law, 6th edition, Vikas Publishing House.
3. Sharma, J.P., Easy Approach to Business Laws, Ane Books Pvt. Ltd.
4. Maheshwari, S.N., Business Laws, Himalaya Publication House(P) Ltd