Business Law is a subject in Semester 1 of FYBMS at St. Xavier’s College. Business Law subject aims to expose BMS students to the objects and broad framework of legislative enactments within which business operates.
Business Law refers to the laws that apply to business entities like partnerships and corporations.
There are 4 units in Business Law subject and it has to be covered in 60 lectures.
Unit 1 : 20 lectures
A) Law of Contract (The Indian Contract Act, 1872) : Section 1 – 30
- Essential elements of Contract,
- Agreement and Contract,
- Capacity to Contract,
- Free Consent,
- Considerations,
- Lawful objects / consideration.
B) Sales of Goods Act, 1930
- Scope of this act,
- Sale and Agreement to Sell,
- Essentials of a valid sale contract,
- Conditions and Warranties,
- Rights of an unpaid seller,
- Rules of delivery,
- Auction sales,
- CIF and FOB contract.
C) Indian Partnership (The Indian Partnership Act, 1932)
- What is Partnership?,
- Partnership Formation,
- Types of Partnerships,
- Dissolution of Partnership,
- Rights, duties and liabilities of partners.
Unit 2 : Negotiable Instrument Act, 1881 – 10 lectures
- Introduction to Negotiable instruments,
- Characteristics of negotiable instruments,
- Different types of negotiable instruments,
- Parties to negotiable instruments,
- Negotiation, Endorsement and Presentment,
- Criminal Liability on Dud cheques.
Unit 3 : Companies Act, 1956 (Section 1-100) – 20 lectures
- What is company?,
- Incorporation of Company,
- Memorandum of Association and Articles of Association,
- Prospectus,
- Meetings,
- Board of Directors.
Unit 4 : Consumer Protection Act, 1986 – 10 lectures
- Objects of consumer protection,
- Introduction of consumer,
- Who is consumer?,
- Meaning of the words “Goods and services”,
- Meaning of the words “Defects and Deficiencies of Goods and Services”,
- Consumer disputes and complaints,
- Unfair Trade Practice,
- Consumer Protection Councils,
- Consumer Disputes,
- Redressal Agencies.
Continuous Internal Assessment:
- Mid Semester test
- Project work.
Reference Books for Business Law:
- Bare Act relating to the various laws.
- Business Law – K.R. Bulchandani Himalaya Publishing House
- Elements of Mercantile law – Kapur N.D. Sultan Chand
- Business Law – S.S. Gulshan Excel Books, Delhi
- Business Law – P.K. Goel Biztantra
- A Manual of Mercantile Law – M.C. Shukla Chand & Co.
- Students Guide to Corporate Law – Datey V Taxman, New Delhi
- Company Laws- Dr. Avtar Singh, Eastern Book Company
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