Semester - III

Course Course title Category L P Pr Credits Hours

code

MCL209 Business Laws- MAJOR 3 0 0 3 3

(LBU)

Total 3 3

Business Laws

Course Learning Outcomes

CLO 1
Discuss basic aspects of contracts for making the agreements, and contracts and
subsequently entering valid business propositions.

CLO 2
Recognize and differentiates the special contracts and identifies their appropriate usage
in varied business scenarios.

CLO 3
Explain legitimate rights and obligations under The Sale of Goods Act

CLO 4
Explain the concept of LLP

CLO 5
Elaborate the fundamentals of Internet-based activities under The Information and
Technology Act.

Module 1 :The Indian Contract Act, 1872

Contract – meaning, characteristics and kinds, Essentials of valid contract - Offer and
acceptance, consideration, contractual capacity, free consent, legality of objects. Void
agreements. Discharge of contract-modes of discharge including breach and its remedies.

1. Draft a contract based on the essential elements of a valid contract under the
Practical 2hrs
Indian Contract Act, 18721. Make sure your contract has an offer and
acceptance, consideration, contractual capacity, free consent and legality of
objects. Avoid any void agreements or illegal terms

Module2: Special Contracts

Quasi-contracts, Contract of Indemnity and Guarantee, Contract of Bailment and Pledge
Contract of Agency

1. Create a flowchart to show the steps involved in forming a Contract of

Practical 2hrs
Indemnity and Guarantee. You can also include the rights and liabilities of the
parties involved in each step.

2. Draft a letter to a bank requesting a loan against a pledge of your property. 2hrs
You can use 5 as a source of information. You can also mention the terms
and conditions of the Contract of Pledge that you are willing to accept.

Module 3 : The Sale of Goods Act, 1930

Contract of sale, meaning and the difference between sale and agreement to sell. Conditions and
warranties. Transfer of ownership in goods including sale by no owners. Performance of the
contract of sale. Unpaid seller – meaning and rights of an unpaid seller against the goods.

1. Create a poster to illustrate the difference between sale and agreement to sell
Practical 2hrs
under The Sale of Goods Act, 1930. You can also use images, diagrams or
charts to make your poster attractive and informative.

2. Draft a bill of sale for a transaction involving the sale of goods under The Sale 2hrs
of Goods Act, 1930. You can also mention the terms and conditions of the
sale, such as the description of goods, the price, the delivery, the payment, the
warranties and the remedies.

3. Role-play a situation where you are a buyer or a seller involved in a breach of 2hrs
contract of sale of goods under The Sale of Goods Act, 1930. You can also
demonstrate the rights and liabilities of the buyer and the seller in case of
breach.

Module 4 :The Limited Liability Partnership Act, 2008

Salient Features of LLP, Difference between LLP and Partnership, LLP and Company LLP
Agreement. Nature of LLP, Partners and Designated Partners, Incorporation Document
Incorporation by Registration, Registered office of LLP and change therein. Change of name,
Partners and their Relations. Extent and limitation of liability of LLP and partners. Whistle
blowing. Taxation of LLP. Conversion into LLP. Winding up and dissolution of LLP.

1. Filing annual returns and statements of accounts and solvency by LLPs as per
Practical 2hrs
the act and the MCA circulars.

2. Resolving disputes and winding up of LLPs by following the procedures 2hrs

laid down in the act and the rules. (Discussion)
 3. Studying the cases and judgments related to LLPs in India and abroad to 2hrs
understand the legal implications and challenges of LLPs.

Module 5 :The Information Technology Act 2000

Definitions under the Act. Digital signature. Electronic governance. Attribution,

acknowledgement and dispatch of electronic records. Regulation of certifying authorities. Digital
signatures certificates. Duties of subscribers under the Act. Penalties and adjudication. Offenses
as per the Act.

1. Understand and create electronic signatures and digital certificates for

Practice 2 Hr
authentication of electronic records.

2. Studying the cases and judgments related to cyber law in India and abroad to 2 hrs
understand the legal implications and challenges of this domain.

3. Understand the Reporting process and resolving cybercrimes such as 2hrs

hacking, phishing, identity theft, cyberstalking, etc. by following the
procedures laid down in the act and the rules.

Module 1 :

TLO 1
Define a contract and identify its key characteristics. Understanding
TLO 2 Differentiate between valid and void contracts by analyzing the Analysis
elements such as offer, acceptance, consideration, and legality of
objects.
TLO3 Apply the principles of contractual capacity and free consent to real- Application
world business scenarios.
TLO 4 Assess various modes of contract discharge, including breach, and Evaluation
analyze the available legal remedies.

Module 2 :

TLO 1 Recognize quasi-contracts and differentiate them from other types of Identification
contracts.

TLO 2 Analyze the concepts of indemnity, guarantee, bailment, pledge, and Analysis
agency contracts, identifying their respective roles and applications.

TLO 3 Apply the principles of special contracts to specific business situations, Application
selecting the most appropriate contract type for each scenario.

Module 3 :

TLO 1 Define a contract of sale and distinguish between sale and agreement to Understanding
 sell.

TLO 2 Analyze conditions and warranties in a contract of sale, distinguishing Analysis

between them and their implications on performance.

TLO 3 Apply the rules regarding transfer of ownership and performance of Application
contract of sale to practical business scenarios.

TLO 4 Evaluate the rights of an unpaid seller against the goods and assess the Evaluation
implications of non-payment on the contract.

Module 4:

TLO 1 Define the concept of Limited Liability Partnership (LLP) and Understanding
differentiate it from other forms of business entities.

TLO 2 Analyze the salient features of LLP and its advantages over traditional Analysis
partnerships and companies.

TLO 3 Apply the provisions of LLP Act to draft LLP agreements, considering Application
factors such as partners' relations and extent of liability.

TLO 4 Evaluate the tax implications and procedures for conversion, winding Evaluation
up, and dissolution of LLPs, considering legal and financial aspects.

Module 5 :
TLO 1 Define key terms and concepts under the Information Technology Act, Understanding
such as digital signature and electronic governance.

TLO 2 Analyze the regulatory framework for electronic records, certifying Analysis
authorities, and digital signature certificates.

TLO 3 Apply the duties of subscribers and penalties for offenses under the IT Application
Act to ensure compliance in electronic transactions.

TLO 4 Evaluate the effectiveness of the IT Act in addressing cybercrimes and Evaluation
protecting digital transactions, considering its strengths and weaknesses.

Suggested Readings
1. Bhushan, B., Kapoor, N. D., Abbi, R., & Kapoor, R. (2020). Elements of Business
Laws.Sultan Chand
2. Dagar, I., & Agnihotri, A., (2020). Business Laws, Sage Textbook
3. Jagota, R. (2021). Business Laws. MKM Publishers ScholarTech Press.
4. Kuchhal, M. C., & Kuchhal, V. (2013). Business Laws. New Delhi. Vikas Publishing
House.
5. Maheshwari, S. N., & Maheshwari, S. K. (2011). A Manual of Business Laws. Himalaya
Publishing House Pvt. Ltd.
6. Sharma, J. P., & Kanojia S. (2018). Business Laws. New Delhi. Bharat Law House Pvt.
Ltd.
7. Singh, A. (2008). The Principles of Mercantile Law. Lucknow. Eastern Book Company.
8. Sulphey, M. M., & Basheer, Az-Har. (2014). Laws for Business, 5th ed. PHI Learning
9. Tulsian, P. C. (2000). Business Law. New Delhi. Tata McGraw Hill.