LEGAL AND BUSINESS ENVIRONMENT

Course Objectives

On completion of this course the participants are expected to

  • To identify the significant place of legal system in the micro and macro environment of business
  • To describe the salient provisions relating to Indian contract act, Sale of Goods Act, IPR, Companies Act, and other acts relating to public interest.
  • To keep familiarity with the precaution to be taken by them as managers when they enter into business relationships with their suppliers, customers or other third parties

UNIT I

Introduction to Business law and its significant place of micro and macro environment of business – Business Management and Jurisprudence; Structure of the Indian Legal Systems: Sources of Law, Manager Legal System –Right to Information Act.

UNIT II

Fundamentals of Contract Laws – Formation of Contracts, Principles of Contract Laws, Legality of object Consideration; Performance of Contract; Discharge of Contract, Quasi contracts, Contract Management.

UNIT III

Special Contracts: Bailment & Pledge, Indemnity and Guarantee–Contract of Agency–Sale of Goods Act: Principles of Sales of Goods, Transfer of ownership & Property, Consumer Protection Laws, Laws relating Business organizations.

UNIT IV

Partnership Trusts – Company form of organization, Formation of Company; Rights, Duties and Liabilities of Directors; Labour and Trade Union laws - Winding up of the Company

UNIT V

Protecting the property of Business – Copyright, Trademark, Secret, Geographical Indications – Alternate Dispute resolutions.

Learning Resources

  • Ravindra Kumar– Legal Aspects of Business–Cengage–2016
  • Akhileshwar Pathak, Legal aspects of business– Tata McGraw–Hill,2016
  • N.D.Kapoor, Mercantile Law , Sultan & Sons, 2012.

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