Legal Aspects of Business


Dr.Susanta Kumar Mishra


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Course Name : Legal Aspects of Business

Code(Credit) : BBAR-3102 (Credit 3-1-0)

Course Objectives

  •  This course provides an understanding of the basics of Business Law which an employee might face in the day -to-day working of the Organisation.
  •  The course also differentiates between Social Contracts and Business Contracts and liabilities arising out of it.
  • Students are expected to be familiar with various aspects associated with the Sale of Goods and relating to the protection of Consumers.

Learning Outcomes

  •  The students will have a better understanding of the legal consequences of the business transactions entered on behalf of the Employer by the Employee.
  • The Student will understand the cautions to be exercised while signing any contracts and understand the legal consequences arising out of such contracts,e.g.Loan Contracts and Insurance Contracts.
  • While selling and purchasing goods the student will keep in mind the provisions of the Sale of Goods Act and Consumer Protection Act.

Course Syllabus

Indian Contract Act, Essential elements of contract, Offer and Acceptance, Consideration, Capacities of parties, Free consent, contingent contract , discharge of contract, Special Contracts - Quasi contract, Indemnity and Guarantee, Bailment and pledge
Sale of Goods Act 1930: Sale and agreement to sell, Implied conditions and warranties, sale by non-owners


The Companies Act 2013: Meaning and types of Companies, Incorporation, Memorandum & Articles of association, Prospectus, The Limited Liability Partnership Act 2008: Meaning and nature of limited partnership, Formation, partners & their relations
Consumer Protection Act 1986: Objectives and machinery for consumer protection, Consumer Protection Act 1986:defects and deficiency removal, rights of consumers, The Right to Information Act 2005:Salient features and coverage of the act, definition of terms information, right, record, public authority, obligations of public authorities, requesting information and functions of PIO.

Text Book
1. Mercantile law by N.D.Kapoor
2. Business and Corporate Law by Dr. P. C Tulsian, S. Chand Publication

Reference Books
1. S.S.Gulshan; Mercantile Law. 3rd Edition, Excel Books, New Delhi.

Session Plan

Session 1

Introduction to Indian Contract Act


Indian Contract Act,1872

Session 2

Essential Elements of a Valid Contract,Difference between Agreement and Contract

Essentials of Valid Contract-converted

Session 5

Session 6 & 7

Capacities of parties

Session 8

Session 9

Contingent Contract

Session 10

Discharge of Contract.

Session 11 & 12

Special Contracts - Quasi contract

Session 13

Indemnity and Guarantee

Session 14 & 15

Bailment and pledge

Session 16 & 17

Sale of Goods Act 1930: Sale and  Agreement to Sell

Session 18 & 19

Implied conditions and warranties,  Sale by non-owners

Session 20

The Companies Act 2013

Meaning and Nature of Company

Types of Company

Nature & Type of Company-converted

Session 21 & 22

Incorporation, Memorandum & Articles of association

Session 23


Rules Relating to Issue of Shares

Session 24

The Limited Liability Partnership Act 2008

Meaning and Nature of Limited Partnership

Session 25

Limited Liability Partnership Act:2008

Formation,  Partners & their relations

Session 26

Right to Information Act:2005

Salient Features and Coverage of the Act

Definition of the term Information,Right,Record and Public Authority

Session 27

Right to Information Act:

Obligations of public authorities,

Requesting information and functions of PIO.


Session 28

Consumer Protection Act 1986

Important Definitions under the Act

Objective Behind the Act

Machinery for Consumer Protection

Session 29 & 30

Consumer Protection Act 1986

Defects and Deficiency Removal Procedure under the Act

Rights of Consumers

Case Studies

Inian Contract Act :

Balfour V.Blfour Case Law

Case Studies

Inian Contract Act :

Carlil V.Carbolic Smoke Ball Case Law

Case Studies

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