Business Law by Dr.Biswo Ranjan Mishra BBA

About This Course

B.COM (H)-Core 2- Semester I BUSINESS LAW
Author:
Dr.Biswo Ranjan Mishra
Edited by:
Dr.Sujit Kumar Acharya Dr.Rashmi Ranjeeta Das
UTKAL UNIVERSITY Directorate of Distance & Continuing Education Bhubaneswar

SYLLABUS
(CORE – 2) BUSINESS LAW
Objective: The objective of the course is to impart basic knowledge of the important business laws along with relevant case laws.
Unit I: The Indian Contract Act, 1872
1. Contract – meaning, characteristics and kinds, Essentials of a valid contract
2. Offer and acceptance (Definition, Rules, Communication and Revocation of offer and acceptance)
3. Consideration (Definition, Elements, Types, Rules), “No Consideration
No Contract” and its exceptions; Capacity to Parties (Definition and
Types)
4. Consent, Free consent, Coercion, Undue Influence, Fraud, Misrepresentation, Mistake
5. Legality of objects and Consideration
6. Void and Voidable agreements – Definition, Types and Distinction
Discharge of a contract – Modes of discharge, Breach and Remedies against breach of contract
7. Specific Contracts - Contingent contracts, Quasi, Contract of Indemnity,
Guarantee, Bailment, Pledges
Unit II: The Sale of Goods Act, 1930
1. Contract of sale, meaning and difference between sale and agreement to sell
2. Conditions and warranties
3. Transfer of ownership in goods including sale by a non-owner
4. Unpaid seller – meaning, rights of an unpaid seller against the goods and the buyer Consumers Protection Act, 1986 and Right to Information Act
a. Objectives and features of Consumers Protection Act
b. Definitions – Complainant, Complaint, Consumer, Consumer Dispute, Defect, Deficiency, District Forum, Person
c. Unfair trade practices
Consumer Protection Council (Central, State and District – their constitutions and objectives
Unit III: Partnership Laws
A. The Partnership Act, 1932
a. Definition – Partner, Partnership
b. Nature and Characteristics of Partnership
c. Types of Partners
d. Registration of a Partnership Firms and consequences of non-registration
e. Rights and Duties of Partners
f. Dissolution of firms – meaning and grounds
B. The Limited Liability Partnership Act, 2008
a. Definition
b. Salient Features of LLP
c. Advantages and disadvantages of LLP
d. Differences between: LLP and Partnership, LLP and Company

e. Incorporation of LLP
Unit IV: The Negotiable Instruments Act 1881
a. Definition, Features, Types, Parties of Negotiable Instruments: Promissory Note, bill of exchange, Cheque (Definition and Types)
b. Endorsement: Meaning and Types of Endorsement
c. Holder and Holder in Due Course, Privileges of Holder in Due Course.
d. Dishonour of Negotiable Instruments: Modes, Consequences, Notice of
Dishonour; Noting and Protesting
e. Discharge of Negotiable Instruments: Meaning and Modes
Learning Outcomes: The students would be able to deal with the legal aspect of different
business situations.
Text Books Recommended
1. Business Law, Garg K.C., Saareen,Sharma, Kalyani Publishers 2. Kumar, R. Legal Aspects of Business, Cengage Learning Suggested Readings:
1. Arora Sushma – Business Law – Taxmann Publication
2. A Book of Business Laws-Jena B and Mohapatra-Himalaya Publishing House 3. Business Law, Ashok Sharma, V.K. Global Publication.
4. Business Laws: Das & Roy, Oxford University Press
5. Business Law- S K Matta, Geetika Matta, Vrinda Publications (P) Ltd
6. Business Law - Tejpal Singh, Pearson Publication
7. Kuchhal, M.C. and Vivek Kuchhal, Business Law, Vikas Publishing House, New Delhi.
8. Tulsian, P.C, Business Law, S.Chand
9. Maheshwari & Maheshwari, Business Law, National Publishing House, New Delhi.