Legal Aspects of Business
Subject Overview
Legal Aspects of Business surveys the statutory framework a commerce postgraduate needs — the Indian Contract Act (formation, breach, indemnity/guarantee, agency), the Sale of Goods Act and Negotiable Instruments Act, the Companies Act 2013 alongside FEMA and the Competition Act, and the Consumer Protection Act and Information Technology Act including digital signatures, patents, copyrights and trademarks. A 4-credit core theory paper.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: The Indian Contract Act, 1872
Essential elements of a valid contract, offer and acceptance, consideration, capacity, free consent, performance and discharge, breach of contract and remedies, contracts of indemnity and guarantee, surety rights/liabilities, creation and classification of agency, principal-agent relationship and termination
Unit 2: Sale of Goods and Negotiable Instruments
Contract for sale of goods, conditions and warranties, transfer of property, performance of contract of sale, rights of unpaid seller, negotiable instruments meaning/characteristics/types, holder and holder in due course, negotiation and endorsement types, dishonor/noting/protest, liability of parties
Unit 3: The Companies Act and related regulation
Company definition, features and types, incorporation, Memorandum and Articles of Association, prospectus, directors, Foreign Exchange Management Act (FEMA) 2000, Competition Act 2002
Unit 4: Consumer protection and IT law
Consumer Protection Act definitions, unfair and restrictive trade practices, consumer rights, consumer dispute redressal agencies, Information Technology Act 2000 — digital signature and certificate, electronic governance and records, patents, copyrights, trademarks and designs