Business law

Afterschoool – developing change makers

CENTRE FOR SOCIAL
ENTREPRENEURSHIP
PGPSE PROGRAMME – OPEN FOR ALL
FREE FOR ALL

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 Business law
Dr. T.K. Jain.
AFTERSCHOOOL
Centre for social entrepreneurship
Bikaner
M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk
www.afterschoool.tk

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Anil promises to prepare a portrait of
Ram in his house for Rs. 5000. He
sends Raju to prepare painting. Is he
right?
 No.

 As per contract act, he has to do it

himself.

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Quantum merit means?
 As much as merited

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What is earnest money?
 When a certain amount is deposited as
security deposited for ensuring
performance of contract, it is called
earnest money.

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Are immovable goods covered
by sale of goods act?
 No.

 It covers only movable goods.

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Can we give future
consideration?
 Yes, consideration may be past, present
or future.

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What is agreement to sell?
A contract to sell future goods is called
agreement to sell.

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Ra m mad e an offer to me . I se nt my
app rova l thro ug h couri er. Howeve r
the ma il wa s lost in betw ee n du e to
floods. Wh en is con trac t co mp lete ?

 There is no agreement – so no question

of contract. Acceptance has not yet been
communicated.

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Can we make an agreement to share
profits from smuggling business?
 No.

 It will be void agreement.

 (illegal business).

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What is a reciprocal promise?
A promise in return of a promise.

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What is a knock out agreement?
 An agreement between bidders not to
bid against each others.

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Agreement under coercion is ?
 Voidable

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What do you mean by property in
goods?
 Ownership

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What is ultra vires act?
 When a company enters into agreement
which is beyond its objects or beyond
limits prescribed by its memorandum of
association, such act is called ultra vires.

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What is doctrine of holding out?
 When a partner shows that he is a
partner and represents himself as
partner – he will have to bear
responsibility of partnership also - that is
called doctrine of holding out.

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What will happen if you make an
agreement and subsequently know
that it is impossible to do so?
 Void – under section 56.

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You have made a payment to Ram
for arranging bull fight. However,
govt. has not restricted bull fight.
What will happen?
 Agreement becomes void and Ram will
have to return your money back.

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You have sold goods of Rs. 50000 to
Jitendra in 2004. You havn’t received
payment for that. What will you do
now?

 Forget about this money. It is time barred

now (unless you have some other
agreement). You cant do anything for
time barred debts.

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You make a promise with Ankit
Golchha that if it will rain, you will
pay Rs. 5000. Is it valid?
 All wagering agreements are void.

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What is called to the offer that
you make to general public?
 General offer

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What is the difference between
sale and bailment?
 In sale property transfer, in bailment
only possession transfers
 In sale consideration is mandatory – in
bailment – consideration may or may not
be there.
 In sale, goods cannot be returned. In
bailment – goods have to be returned.

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What is the difference between
sale and hirepurchase?
 In sale property transfers immediately, but
in hire purchase, property transfers only on
the payment of last instalment.
 Buyer can sell the goods – the hirer cannot
sell the goods
 Buyer cannot refuse delivery or cannot
terminate contract in between, but a hirer
can terminate contract any time.
 Buyer is owner, hirer is bailee.

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What is difference between
condition and warranty?
 Condition is essential but warranty is
collatoral to the main purpose.
 For not fulfillment of condition, you may
terminate the contract. For non-fulfillment
of warranty, you may claim damages.
 Breach of condition may be treated as
breach of warranty – but not the vice versa.

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What is condition to title?
 Itmeans that seller is owner of the goods
and can sell the goods without any legal
problems.
 (see sec. 14 a)

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What are implied conditions ?
 Sec. 14 – condition to title
 Sec. 15 – condition regarding sale by
description
 Sec. 16 quality and fitness for use

 Sec. 17. sale by sample

 Condition regarding wholesome

(especially for eatables)

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What are implied warranties?
 Undisturbed possession
 Non-existence of encumbrances

 Disclosure of dangerous nature of goods

 Fitness by usage of trade

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What do you mean by NEMO
DAT QUOD NON HABET?
 No one can give what he / she does not
have.

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 ABO UT A FTERSCH OOO L
Afterschoool conducts three year integrated PGPSE (after
class 12th along with IAS / CA / CS) and 18 month PGPSE
(Post Graduate Programme in Social Entrepreneurship)
along with preparation for CS / CFP / CFA /CMA / FRM. This
course is also available online also. It also conducts
workshops on social entrepreneurship in schools and
colleges all over India – start social entrepreneurship club in
your institution today with the help from afterschoool and help
us in developing society.

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Why such a programme?
 To promote people to take up entrepreneurship
and help develop the society
 To enable people to take up franchising and
other such options to start a business / social
development project
 To enable people to take up social
development as their mission
 To enable people to promote spirituality and
positive thinking in the world

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Who are our supporters?
 Afterschoolians, our past beneficiaries,
entrepreneurs and social entrepreneurs
are supporting us.
 You can also support us – not
necessarily by money – but by being
promotor of our concept and our ideas.

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About AFTERSCHOOOL PGPSE – the best
programme for developing great entrepreneurs

 Most flexible, adaptive but rigorous programme

 Available in distance learning mode
 Case study focused- latest cases
 Industry oriented practical curriculum
 Designed to make you entrepreneurs – not just
an employee
 Option to take up part time job – so earn while
you learn
 The only absolutely free course on internet
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Workshops from
AFTERSCHOOOL
 IIF, Delhi
 CIPS, Jaipur
 ICSI Hyderabad Branch
 Gyan Vihar, Jaipur
 Apex Institute of Management, Jaipur
 Aravali Institute of Management, Jodhpur
 Xavier Institute of Management,
Bhubaneshwar
 Pacific Institute, Udaipur
 Engineering College, Hyderabad

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Flexible Specialisations:
 Spiritualising business and society
 Rural development and transformation
 HRD and Education, Social Development
 NGO and voluntary work
 Investment analysis,microfinance and inclusion
 Retail sector, BPO, KPO
 Accounting & Information system (with CA / CS /CMA)
 Hospital management and Health care
 Hospitality sector and culture and heritage
 Other sectors of high growth, high technology and social
relevance

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Salient features:
 The only programme of its kind (in the whole world)
 No publicity and low profile course
 For those who want to achieve success in life – not just a
degree
 Indepth knowledge and expertise
 Professional approac: World class approach
 Strong intellectual and business capabilities
 Flexible – you may stay for a month and continue the rest of
the education by distance mode. / you may attend weekend
classes
 Scholarships for those from poor economic background
 Latest and constantly changing curriculum – keeping pace
with the time
 Placement for those who are interested
 Admissions open throughout the year
 Latest and most advanced technologies, books and study
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material
Components
 Pedagogy curriculum and approach based on IIM Ahmedabad and ISB
Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)
 Meditation, spiritualisation, and self development
 Essential softwares for business
 Business plan, Research projects
 Participation in conferences / seminars
 Workshops on leadership, team building etc.
 Written submissions of research projects/articles / papers
 Interview of entrepreneurs, writing biographies of entrepreneurs
 Editing of journals / newsletters
 Consultancy / research projects
 Assignments, communication skill workshops
 Participation in conferences and seminars
 Group discussions, mock interviews, self development diaryng
 Mind Power Training & writing workshop (by Dr. T.K.Jain)

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Pedagogy
 Case analysis,
 Articles from Harvard Business Review
 Quiz, seminars, workshops, games,
 Visits to entrepreneurs and industrial visits
 Presentations, Latest audio-visuals
 Group discussions and group projects
 Periodic self assessment
 Mentoring and counselling
 Study exchange programme (with institutions out of India)
 Rural development / Social welfare projects

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Branches
 AFTERSCHOOOL will shortly open its
branches in important cities in India
including Delhi, Kota, Mumbai, Gurgaon
and other important cities.
Afterschooolians will be responsible for
managing and developing these
branches – and for promoting social
entrepreneurs.

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Case Studies
 We want to write case studies on social
entrepreneurs, first generation
entrepreneurs, ethical entrepreneurs.
Please help us in this process. Help us
to be in touch with entrepreneurs, so that
we may develop entrepreneurs.

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Basic values at afterschoool
 Share to learn more
 Interact to develop yourself
 Fear is your worst enemy
 Make mistakes to learn
 Study & discuss in a group
 Criticism is the healthy route to mutual support
and help
 Ask fundamental questions : why, when, how
& where?
 Embrace change – and compete with yourself
only
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www.afterschoool.tk
social entrepreneurship for better
society

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