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BUSINESS LEGISLATION

Code: D107

Objectives :

To provide the students with adequate knowledge of the legal aspects of Indian Business.

Course Contents:

1.  Introduction: Meaning, definition and philosophy of business legislation, Types of business laws in India.

2.  The  Indian  Contract  Act,  1972:  Meaning  and  formation  of  contract  –  Essentials  –Performance of contract  –  Discharge of contract –  Remedies for breach  –  Law of agency  –Sale  of  Goods  Act:  Definition  of  contract  of  sale  –  Essential  conditions  and  warranties  –Transfer of title – Rights of unpaid sellers – Caveat Emptor.

3.  Consumer  Protection  Act,  1986:  Historical  background  of  consumer  protection  in  India  –Definition of consumer – Goods and services – Defects and deficiency unfair trade practices – Rights of a consumer – Judicial machinery.

4.  Intellectual  Property  Rights:  Introduction  to  Intellectual  Property  Rights,  Law  relating  to trademark and patents.

5.  Companies Act: Meaning and nature and characteristics of companies  –  Incorporation and advantages of incorporation  –  Prospectus  –  Share capital  –  Types of shares  –  Transfer and

transmission  of  shares  –  Law  pertaining  to  dividend  –  Debentures  –  Directors  –  Legal position of directors  –  Powers of directors  –  Restriction on the powers of BOD  –  Meeting and resolution.

6.  The Information Technology Act, 2000: Digital signature, Electronic governance, Electronic records and certifying authorities.

7.  Indian  Partnership  Act,  1932;  Salient  features,  Nature  and  definition,  Formation  and registration. Rights, duties and liabilities of partners. Resolution of a partnership firm.

8.  Miscellaneous  Laws:  Basics  of  Income  Tax  Act  1961.  Basics  of  Sales  Tax  Laws.  Basics  of Central  Excise  –  Law  &  Customs  Act.  Basics  of  Indian  Contract  Act.  Basics  of  Negotiable Instruments Act. FEMA  –  Basics of Intellectual  –  Property Rights and Consumer Protection Laws.