Syllabus for Business Law -Term I

Introduction to Indian Legal System
Introduction to Law, Legal Terminology, Different Legal systems of the world (Brief overview), Sources of law, Salient Features of Constitution of India, Judiciary, Hierarchy of courts

Indian Contract Act 1872
Definition, concept of contract, valid contract and its essential elements, Types of contract, Quasi Contract, Discharge of Contract; Breach of contract and its remedies, Agency, Contract of indemnity and guarantee, Bailment
Practical overview *
Employment contracts
Important Clauses in Corporate & Commercial Agreements
Alternate Dispute Resolution

Sale of Goods Act, 1930
Contract of sale, agreement to sell, Conditions and warranties, Hire-Purchase, Passing of property, transfer of property, remedies for breach; rights of unpaid sellers. Doctrine of caveat emptor
Practical overview*
Examination of Hire purchase agreements

Negotiable Instruments Act, 1881
Definition and characteristics, promissory notes, bills of exchange and cheque, parties to negotiable instrument; methods of negotiation of instrument Endorsement and delivery of a negotiable instrument, negotiation by unauthorized parties
Practical Overview*
Procedure to be followed in case of dishonour of cheques

Indian Partnership Act 1932
Definition of partnership, types of partnership, formation of partnership, registration of partnership, kinds of partners, rights and liabilities of partners, minor’s status in a partnership firm, dissolution of partnership firm.
Practical Overview *
Requirements in a partnership deed
Limited Liability Partnership Act 2008

Companies Act 1956
Definition, Characteristics, formation of company, memorandum and articles of associations of a company, types of companies, management of companies, Directors and meetings; Winding up of companies.
Practical overview*
How to form a company –Practical aspects
MCA 21

Consumer Protection Act 1986
Consumer, Rights of consumer, Definitions, Nature and scope of remedies available to the consumers
Practical overview*
Model form of a complaint