Business Law

The present book has been written particularly for the students pursuing B.Com. Semester-I course of Ranchi University & Nilamber Pitamber University Daltonganj (NPU)

• The subject of Business Law assumes great importance in almost all Universities in India. It is strictly based on the new syllabus.
• The present book has got some special features. The language used throughout this work is simple and easily understandable. The complicated and complex provisions of Acts have been made simple and clearly understandable. Suitable case laws and examples have been inserted in a quite intelligible manner making the subject more clear to the students. The Questions at the end of each and every chapter include Long Answer Questions and Short Answer Questions as per the new pattern of Examination. The text covers all the answers to such questions. The students shall not be required either to consult any other book or even to make their personal notes if they take help from this book for preparing themselves for their examinations.

Business Law Book Syllabus For B.Com. Semester-I of Ranchi University & Nilamber Pitamber University Daltonganj (NPU)

Unit-I : The Indian Contract Act, 1872: General Principle of Law of Contract

(a) Contract—meaning, characteristics and kinds

(b) Essentials of valid contract—Offer and acceptance, consideration, contractual capacity, free consent, legality of objects.

(c) Void agreements

(d) Discharge of contract—modes of discharge including breach and its remedies,

(e) Contingent contracts

(f) Quasi-contracts

Unit-II : The Indian Contract Act, 1872: Specific Contract

(a) Contract of Indemnity and Guarantee

(b) Contract of Bailment

(c) Contract of Agency

Unit III : The Sale of Goods Act, 1930

(a) Contract of sale, meaning and difference between sale and agreement to sell.

(b) Conditions and warranties

(c) Transfer of ownership in goods including sale by non-owners

(d) Performance of contract of sale

(e) Unpaid seller—meaning and rights of an unpaid seller against the goods and the buyer.

Unit IV : Partnership Laws

(A) The Partnership Act, 1932

(a) Nature and Characteristics of Partnership

(b) Registration of Firms

(c) Types of Partners

(d) Rights and Duties of Partners

(e) Implied Authority of a Partner

(f) Incoming and outgoing Partners

(g) Mode of Dissolution of Partnership

(B) The Limited Liability Partnership Act, 2008 (an overview)

(a) Salient Features of LLP

(b) Difference between LLP and Partnership, LLP and Company,

(c) LLP Agreement,

(d) Partners and Designated Partners,

(e) Incorporation Document,

(f) Incorporation by Registration,

(g) Partners and their Relations.

Unit V : The Negotiable Instruments Act, 1881

(a) Meaning and Characteristics of Negotiable Instruments: Promissory Note, Bill of Exchange, Cheque

(b) Holder and Holder in due Course, Privileges of Holder in Due Course

(c) Negotiation: Types of Endorsements

(d) Crossing of Cheque

(e) Bouncing of Cheques

Business Law Book Contents

The Indian Contract Act, 1872

1. Definition and Nature of Contract
2. Agreement: Offer and Acceptance
3. Consideration
4. Capacity of Parties to Contract
5. Free Consent
6. Legality of Object and Consideration
7. Expressly Declared Void Agreements
8. Contingent Contracts
9. Quasi Contracts
10. Performance of Contracts
11. Discharge of a Contract
12. Breach of Contract and its Remedies
13. Indemnity and Guarantee
14. Bailment and Pledge
15. Agency
    The Sale Of Goods Act, 1930
16. Nature of Contract of Sale of Goods
17. Conditions and Warranties
18. Transfer of Property (Ownership)
19. Performance of Contract of Sale: Delivery of the Goods
20. Unpaid Seller and Auction Sale
    Negotiable Instruments Act, 1881 as Amended By The Negotiable Instrument (Amendment) Act, 2002
21. Negotiable Instruments: Definition and Features, Etc.
22. Holder and Holder in Due Course
23. Crossing and Dishonour of Cheques
24. Dishonour of Negotiable Instruments
25. Discharge From Liability on Negotiable Instruments
    The Indian Partnership Act, 1932
26. Indian Partnership Act, 1932
27. Formation of Partnership
28. Relations of Partners
29. Dissolution of Partnership and Firms
    ● Appendix
    Limited Liability Partnership Act, 2008
    The Limited Liability Partnership Act, 2008
30. The Limited Liability Partnership Act, 2008 [LLP Act]
31. Incorporation Of Limited Liability Partnership (LLP) and Matters Incidental Thereto
32. Partners, Their Relations and Connected Matters
33. Winding-Up And Dissolution of Limited Liability Partnership