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Legal Framework for Business
Course Objective: The objective of this paper is to acquaint the students with the basic understanding of procedures and documentation of export import in India.
Course Outcomes: On completion of this paper/course students will-
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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MIV 423 |
Legal Framework for Business |
CO 163: Describe the key terms involved in each Act CO164: Summarize the key legal provisions of each Act.
CO 165: Illustrate the use of the Acts in common business situations.
CO 166: Outline the various facets of basic case laws of each Act
CO 167 : Understand the legal and managerial perspective of each act
CO 168: To understand the managerial implications of the laws from startup perspective
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Approach in teaching: Interactive Lectures using whiteboards, Discussion, Tutorials, Reading assignments, Demonstration, Team teaching, Quiz.
Learning activities for the students: Self learning assignments, Effective questions, Solving problems of unsolved questions, Problem based learning-cases, Group learning teamwork, Giving Tasks.
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
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Indian Contract Act,1872 Contract: - Meaning of contract, Types, Essentials of Valid Contract, Void agreements: Meaning, Types. Proposal and Acceptance: Meaning, legal rules as to the offer Contractual capacity: Meaning, Minors (effects of minor’s agreements), Person of unsound mind, Free consent. Consideration: Meaning, legal rules, privity of contract, Legality of object. |
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Contingent contracts: Meaning, Valid essentials, Rules as to the enforcement of contingent contract Performance of contract: Meaning, Modes of performance, Discharge of contract: modes of discharge of contract, Remedies and types of breach of contract. Contract of Indemnity and Guarantee, Contract of Bailment and Pledge, Quasi Contracts Contract of Agency: meaning, essentials, creation and termination of agency |
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Sales 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. |
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Partnership Act 1932: Meaning, nature of partnership firm, partnership deed, Registration, types of partners, Mutual Rights and duties, reconstitution of the firm. Limited Liability Partnership Act, 2008: Silent features of LLP, Preliminary, Nature of LLP, Incorporation of LLP Partnership and Incidental Matters, Partners and their relations, Extent and limitation of LLP and ITS Partners, Financial Disclosures, Winding up and Dissolution. |
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Companies Act, 2013: Formation of company, Incorporation, MOA, AOA, Prospectus, Statement in lieu of prospectus ,Shares, Debentures, Appointment, Directors and Powers, Meetings- Proceedings, Winding up (Voluntary, under court’s supervision), Silent Features of Companies Act 2013. |
- Singh Avtar, Indian Company Law, Eastern Book Company
- Aggarawal, Rohini, Student’s guide to Mercantile & Commercial Laws, Taxmann Allied Services Pvt. Ltd., New Delhi.
- Kapoor, N. D., Elements of Mercantile Law, Sultan Chand & Sons, New Delhi
- Tulsian, P. C., Business Law, Tata McGraw-Hill Publishing Company, New Delhi, 2006.
- Datey, V.S., Business and Corporate Laws, Taxmann Allied Services Pvt. Ltd., New Delhi
- Singh, Nirmal, Business Laws, Deep & Deep Publications Pvt. Ltd., New Delhi
- Gulshan, S. S., Business Law, Excel Books, New Delhi
- Krishnamurti D S R, Company Law, Taxmann, New Delhi, 2007
