S.Y.B.COM. SEMESTER III. Business Law - I
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1 S.Y.B.COM. SEMESTER III Business Law - I
2 COURSE OBJECTIVES To make students ware about the legal framework of business To introduce students with some important business laws
3 SKILL ENHANCEMENT COURSES (SEC) Sr. No. Module No. of Lectures 1 Indian Contract Act 1872 Part I 12 2 Indian Contract Act 1872 Part - II 12 3 Special Contracts 12 4 The Sale Of Goods Act The Negotiable Instruments (Amended) Act Total 60
4 MODULE 1 INDIAN CONTRACT ACT 1872 PART I Contract Definition of Contract and Agreement, Essentials of Valid Contract, Classification of Contracts. Offer and Acceptance Rules of valid offer and acceptance, Counter offer, standing or open offer, distinguish between offer and invitation to offer. Concept of Communication and Revocation of offer and acceptance (sec. 3,5) Capacity to Contract (S ) Minor, Unsound Mind, Disqualified Persons. Consideration (S. 2 & 25) Concept and Importance of consideration, Legal rules of Consideration, Exceptions to the Rule, No Consideration No Contract (Ss. 25) Unlawful Consideration (S 23)
5 MODULE 2 INDIAN CONTRACT ACT 1872 PART II Consent (Ss.13, 14-18, 39.53, 55, 66) - Agreements in which consent is not free - Coercion, Undue Influence, Misrepresentation Fraud, Mistake. Void Agreements (S ) Concept, Void Agreements under Indian Contract Act. Contingent Contract (S. 31), Quasi Contract (S.68-72), Concept of E-Contract & Legal Issues in formation and discharge of E-Contract. Concept of Performance of Contract (S 37). Modes of Discharge of Contract, Remedies on breach of Contract (73-75).
6 MODULE 3 SPECIAL CONTRACTS Law of Indemnity & Guarantee (Ss , Ss , ) Concept, Essentials elements of Indemnity and Guarantee, Contract of Indemnity vs. Guarantee, Modes of Discharge of Surety. Law of Bailment (S. 148, , 162, 172, 178, 178A, 179) Concept, Essentials of Bailment, Kinds of Bailment, Rights and Duties of Bailor and Bailee Law of Pledge Concept, Essentials of valid Pledge, Lien concept, Difference between Pledge and Lien, Rights of Pawnor & Pawnee.( Ss.173, 174, 177) Law of Agency (Ss , ) Concept, Modes of creation of Agency, Modes of termination of Agency, Rights& Duties of Principal and Agent.
7 MODULE 4 THE SALE OF GOODS ACT Contract of Sale (S.2) Concept, Essentials elements of contract of sale, Distinction between Sale and Agreement to sell (S.4) Distinguish between Sale and Hire Purchase Agreement, Types of Goods. Effects of destruction of Goods (Ss. 6,7.8). Conditions & Warranties (Ss. 11, 25 & 62, 63) Concept, Distinguish between Conditions and Warranties, Implied Conditions & Warranties, Concept of Doctrine of Caveat Emptor Exceptions. Property Concept, Rules of transfer of property (Ss ). Unpaid Seller (Ss , 55 & 56) - Concept, Rights of an unpaid seller, Remedies for Breach of contract of Sale (Ss ), Auction sale Concept, Legal Provisions (S. 64).
8 MODULE 5 THE NEGOTIABLE INSTRUMENTS (AMENDED) ACT 2015 Negotiable Instruments Concept (S13), Characteristics, Classification of Negotiable Instruments (Ss. 11, 12, 17-20, 42, 43, 104,134,135) Maturity of Instruments. Promissory Note and Bill of Exchange (Ss. 4,5, ) - Concept, Essentials of Promissory Note, Bill of Exchange (Ss. 4,5), Essential features of promissory note and Bill of exchange, Kinds Promissory note and Bill of exchange. Cheque (S.6) Concept, Types & Crossing of Cheque, Distinguish between Bill of Exchange & Cheque, Dishonour of Cheque Concept & Penalties (Ss. 138, 139,142). Miscellaneous Provisions (S. 8-10, 22, , , ) Parties to Negotiable instruments Holder, Holder in due course, Rights & Privileges of Holder in due course, Payment in due course, Noting & Protest (99-104A).
9 REFERENCE BOOKS Law of Contract: Avatar Singh, Eastern Book Company. Merchantile Law: by M.C.Kucchal. Business Law : N.D.Kapoor The Law of Contract: An Outline by Dr. Nilima Chandiramani, Avinash Publications. Law of Sale of Goods and Partnership: A Concise Study by Dr. Nilima Chandiramani, Shroff Publishers. The Sale of Goods Act: P. Ramanatha Aiyar, University Book Agency. The Negotiable Instruments Act: Bhashyam & Adiga, Bharat Law House. The Negotiable Instruments Act: Avatar Singh, Eastern Book Company Khergamvala on the Negotiable Instruments (Amendment)Act,2015,Lexis Nexi
10 QUESTION PAPER PATTERN (100 Marks Paper Per Semester) Question paper to have Five Questions (One from Each Module) 20 Marks Each. All Questions to be Compulsory. Each Question to have Four Sub Questions of 10 Marks Each. (Students to answer any Two out of Four)
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