Name: Business Law PGDM 203

Nature of the course: Core

Credits: 3

Course Description

This course is offered as a core subject in the second trimester, it examines the legal
and regulatory environment in which corporations and managers function. Daytoday decision-making is considered within the context of pertinent laws,
regulations, and court decisions. The focus is on analysis of the legal system, and
specific topics within the system such as contracts, governmental regulations, agency
relationships, torts, corporate and other types of business entities, and related issues.
Emphasis is placed on active, experiential application of legal reasoning and analysis
and on the global and comparative dimensions of legal and ethical issues.
Course Learning Outcomes

At the end of the course the student should be able to

Knowledge

1. Appreciate the relevance of business law in an economic, political and social

context.
2. Explain the legal and fiscal structure of different forms in business organizations
and their responsibilities as an employer.
3. Describe the context of the law pertaining to the employment relationship and the
nature of the factors affecting the development and possible future direction of the
law.
Skills

1. Acquire problem solving techniques and to be able to present coherent, concise

legal argument in a business environment.
2. Identify legal issues and provide potential solutions to legal problems within the
business environment.
3. Analyse the law from a perspective of identifying defects and proposing reforms.
4. Examine how businesses can be held liable in tort for the actions of their
employees.
Attitude

1. Gain competency in the long run diverting themselves into independent

professional decision makers in the legal and regulatory environment in which they
function as managers.
Level of Knowledge - Working Knowledge

Unit I Introduction & Law of Contract

(6 Hrs)
Meaning of Law, Purpose of Law, Sources of Law, Classification of Law, National
and International Law, Law of contract definition, Classification of a contract
(including quasi contracts), Offer or proposal, Acceptance (including exceptions),
Consideration (including exceptions) Introduction to Capacity to contract (including
exceptions), Discharge of contracts, Remedies of breach of a contract, Contract of
indemnity and guarantee (including exceptions and types)]. Contract of bailment
and pledge (including duties and rights and termination of bailment and pledge),
Principal and agent. (To discuss Case Laws)
Unit II Corporate Law
(8 Hrs)
Definition of a company, Incorporation and its procedure, Types and procedures of
conducting meetings (including AGM, SM and EGM), Shares and its types,
Directors and kinds of directors, Qualification, Appointment and removal of
directors, Resolutions and types of resolutions and its procedure, Qualifications,
Rights, Duties and disqualifications of an auditor, Winding up of a company and its
procedure. (To discuss Case Laws confined to Companies Act 2013)
Unit III Negotiable Instrument Act, 1881
(4 Hrs)
Negotiable Instruments Act: Promissory notes, Bills and cheques, Crossing of
cheques, Competence and liability of parties to negotiable instrument, Presentment
of negotiable instrument, Banker and Customer. (To Discuss Case Laws)
Unit IV Property Law
(6 Hrs)
Classification of Property Moveable and Immovable Property / Tangible and
Intangible Assets- Definition and Essentials of sale, Sale and Agreement to Sell
Rights and Duties of Seller and Buyer Rights of an unpaid seller, Conditions and
warranties (including types of warranties), (Sale of Goods Act. Rights and Liabilities
of Parties - Mortgage of Immovable Property - Hire Purchase / Lease of Property,
Exchange / Gift / Assignment of Property, IPRs-Introduction, Trade Related
Intellectual Property Rights (TRIPS), Definition of patents, Register of patents and
its procedure, Revocation of patents, Definition of copy right, Copy rights and it
ownership, Infringement of copy right, Definition of a trade mark, Functions of a
trade mark, Procedure and duration of a trade mark, Assignment and transmission
of trade mark. (To Discuss Case Laws)
Unit V Other Laws
(6 Hrs)
Tax Laws: Classification of Taxes and overview of the Acts on Income Tax, Wealth
Tax, Excise and Customs Duty, Sales Tax, VAT, Service Tax (To Discuss Case Laws).
Consumer Protection Act, 1986: Definition of consumer, Consumer Protection
Councils and Consumer Redressal forums (To Discuss Case Laws).Information
Technology Act, 2000: objectives, meaning of digital signature, protection of transfer
of funds under this act, (To Discuss Case Laws). Right to Information Act:
Objectives, Definition of information, Organizations covered under this act,
Exceptions under RTI Act (To Discuss Case Laws). Environment laws: Types of

Pollution, Rule of Strict Liability and Absolute Liability, Applicability of Criminal

Law, Environmental Legislations in India An Overview (To Discuss Case
Laws).Alternative Dispute Resolution Mechanisms: Overview of Arbitration and
Conciliation Laws in India (To Discuss Case Laws)

[Total 30 Hours]

Required Material (Text Book)

SULPHEY, M. M., & AZ-HAR BASHEER. (2015 May). Laws for Business. New Delhi: PHI
Learning Private Ltd.
Additional recommended text / reference(s)
Kumar, R. (2016). Legal Aspects of Business . New Delhi: CENGAGE Learning.
Daniel, A. (2015). Legal Aspects of Business. Oxford University Press.
Mathur, & Satish, B. (2014). Business Law. New Delhi: McGraw Hill Higher Education.