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CORPORATE AND BUSINESS LAW – MGT 16201

UNIT  CONTENTS

1 Legal Environment of Business: Business and its Environment, What is Business? What is the Environment of Business? What are the Different Segments Constituting Environment of  Business?;  Legal  Environment  of  Business;  Forms  of  Business  Organisation,  Sole Proprietorship, Joint Hindu Family, Partnership Firm.

2 Law  of  Contract:  Indian  Contract;  Essentials  of  a  Contract;  Performance  of  Contract; Classification  of  Contract,  Characteristics  of  a  Voidable  Contract,  Illegal  and  Void Agreements,  Distinction  between  Void  Agreement  and  Voidable  Contract,  Distinction between Void Agreement and Void Contract; Offer and Acceptance, Modes of Making an Offer,  Difference  between  Offer  and  Invitation  to  Offer,  Essentials  of  a  Valid  Offer, Revocation of Offer, Meaning of a Counter-offer, Special Terms in a Contract, Acceptance of an Offer, Completion of Communication of Offer and Acceptance (Sec. 4); Capacity to Contract [Section 10-12], Persons who are competent to Contract, Capacity of a Minor to Enter into a Contract, Mental Incompetence Prohibits a Valid Contract; Consideration, “No Consideration, No Contract” [ Sec. 10 and 25], Rules Regarding Consideration; Breach of Contract,  Anticipatory  Breach  of  Contracts,  Actual  Breach  of  Contracts;  Remedies  for Breach  of  Contracts,  What  is  the  Point  of  Getting  the  Breaching  Party  to  Reconsider? Remedies for Breach of Contracts.

3 Law of Partnership: Meaning and Nature of Partnership; Registration of Firms (Ss.58-59); Partnership  Deed  or  Agreement  or  Articles  of  Partnership;  Relations  of  Partners  to  One Another; Relations of Partners to Third Parties; Dissolution.

4 Elements  of  Company  Law  –  I  :  Definitions,  Meaning  and  Nature  of  a  Company; Formation  of  a  Company;  Memorandum  of  Association;  Articles  of  Association; Membership;  Management  of  a  Company;  The  Company  Secretary;  Prevention  of Oppression  and  Mismanagement;  Compromise  and  Arrangement;  Winding  Up  of Companies; Distinction with other Forms of Business Organisations.

5 Elements  of  Company  Law  –  II  :  Prospectus;  Shares  and  Share  Capital;  Allotment  of shares;  Transfer  and  Transmission  of  Shares;  Borrowings  (Including  Debentures)  and Registration  of  Charges;  Investments  to  be  in  Company?s  Own  Name  (s.  49);  General Meetings  and  Proceedings;  Accounts,  Audit  and  Dividends;  Inspection  and  Investigation; Inter-Corporate Loans and Investments.

6 Law of Sales of Goods Act:  Contract of Sale; Goods and Their Classification; Passing of Property in Goods, Meaning of Property in Goods, Rules Regarding Passing of Property in Goods from the Seller to the Buyer, Mode of Appropriation, Risk Prima Facie Passes with Property; Transfer  of Title  by  Non-owners;  Performance  of a  Contract  of  Sale of  Goods; Sale by Auction.

7 Law of Agency:  Meaning of Agent and Agency, Who Can Employ Agent? Who may be Agent?; Different kinds of Agencies; Classification of Agent, Special and General Agents, Mercantile or Commercial Agents, Non-mercantile or Non-commercial Agents, Sub-agent and  Substituted  Agent  (Sections  190-195);  Relation  of  Principal  Agency,  Duties  of  a Principal, Liability of Principal to Third Parties, Undisclosed Principal, Concealed Principal; Personal Liability of Agents; Termination of Agency.

8 Monopolies and Restrictive Trade Practices Act : The  Monopolies and Restrictive Trade Practices Act, 1969, Short Title, Extent and Commencement, Definitions, Act not to Apply in Certain Cases, Monopolistic Trade Practice to be Deemed to be Prejudicial to the Public Interest  Except  in  Certain  Cases;  Securities  and  Exchange  Board  of  India  Act,  SEBI Functions and Responsibilities, Guidelines, Types of Exchange; Custom and Central Excise Act, Short Title, Extent and Commencement, Definitions; Central and State Sales Tax Act, Statement  of  Objects  and  Reasons,  List  of  Amendment  Acts,  Short  Title,  Extent  and Commencement, Definitions.

9 The  Patents  Act:  Definitions  and  Interpretations;  Inventions  which  are  not  Patentable; Application for Patents; Representation and Opposition Proceedings; Grant of Patents and Rights Conferred Thereby; Patents of Addition; Restoration of Lapsed Patents; Compulsory Licenses; Suits Concerning Infringement of Patents; Intellectual Property Rights, Nature of Intellectual Property Rights, Copyrights.

10 The  Foreign  Exchange  Management  Act,  1999:  Definitions  Under  the  Act;  Provisions Relating  to  an  Authorized  Person;  Regulation  and  Management  of  Foreign  Exchange; Contravention  and  Penalties,  Penalties,  Enforcement  of  the  Orders  of  Adjudicating Authority, Power to Compound Contraventions; Adjudication and Appeal, Appointment of Adjudicating Authority, Appeal to Special Director (Appeals), Establishment of Appellate Tribunal; Directorate of Enforcement; Miscellaneous Provisions.

11 The Consumer Protection Act:  Important Terms; Rights of Consumers; Nature and Scope of Remedies Available to Consumers

12 Law  of  Negotiable  Instruments:  Meaning  and  Definition  of  a  Negotiable  Instrument; Certain important concepts and Explanations of Certain Terms; Promissory Notes and Bills of  Exchange;  Cheques;  Holder  and  Holder  in  Due  Course;  Negotiation  of  a  Negotiable Instrument;  Presentment;  Dishonour;  Crossing  of  Cheques;  The  Paying  Banker; International Law Concerning Negotiable Instruments.