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The dictum “Ignorance of Law is no excuse” suggests that every person is presumed to have a knowledge of applicable Law. It is essential for all business executives to have a basic knowledge of some of the important law which are applicable to their respective area of operation. Business Law comprises a set of laws concerning the business and commerce which would enable managers to ensure legal compliance and take better decisions.

2. Student Learning Outcomes

· To understand principal laws regulating business.
· To interpret various legal provisions and learn how to apply them through an exposure to case made laws.
· To learn as to how to start a business venture and run it successfully in conformity with legal parameters.

3. Required Text Books and Reading Material

Handouts for all sessions will be supplied. The recommended text book

Legal Aspects of Business- Daniel Albuquerque.

Other reference books include
1. A Manual of Business Law by S N Maheshwari and S K Maheshwari, HPH
2. Elements of Mercantile Law by N. D Kapoor, S. Chand, New Delhi.
3. Legal Aspects of Business by R. Kumar
4. The Companies Act, 2013

4. Tentative Session Plan

Session	Topic/Issues to be discussed	Reading Materials
1	Indian Contracts Act of 1872 : Nature of Contract, Essential elements of Contract , Type of Contracts : Void and voidable, Illegal and Unlawful Agreements; Rules Regarding Offer and Acceptance , Consideration	Handout and relevant chapter of the Text Book
2	Competence of Parties, Free Consent , Legality of Object , Performance of contract	……….do……….
3	Discharge of Contract and Remedies for Breach of Contract	……….do……….
4	Indemnity and Guarantee, Contingent and Quasi-contracts Bailment ( with reference to deeds and conveyance )	……….do……….
5	Agency , Creation of Agency , Rights and Duties of Principal and Agent	……….do……….
6	Sales of Goods Act of 1930 - Conditions and Warranties, Rights and Duties of Seller and Buyer	……….do……….
7	Transfer of Property	……….do……….
8	Partnership Act of 1932: Partnership Deed, Types ,Rights and Duties of partners	……….do……….
9	Dissolution of Partnership	……….do……….
10	Companies Act of 2013 : Formation , Types , Company Vs Partnership.	……….do……….
11	Memorandum and Articles of Association : Contents , Alteration	……….do……….
12	Prospectus , Share and Share Capital, Issue of Shares, Membership	……….do……….
13	Management of Company, Qualification, Appointment, Remuneration and Renewal / Removal of Directors, Legal Position, Powers and Duties of Directors, other Managerial Personnel	……….do……….
14	Meetings and Proceedings , Winding up of the Company	……….do……….

5. Evaluation

It shall be done through term examinations, class participation and quizzes. All Evaluation will be under closed book system. Weightage for different components is as under.

Evaluation component	Weightage
A. QUIZZES	30%
B. Mid Term	20%
C. Class Participation	10%
D. End Term	40%

Evaluation Pattern

Quizzes & Class Participation

The quizzes will be objective in nature. Marks secured by the students in all quizzes will be added and converted to 30% weighted mark on a scale of 100. Class Participation (10%) will be based on discussion during the session.

Mid term/ End Term

The duration shall be for 1 hour for Mid Term and 2 hours end term. The questions will be a mix of subjective, objective and case/caselet.

Grading Policy: Policy of the Institute will be followed.

6. Academic Integrity : Students’ manual of policy of XIMB will has to be respected in letter and spirit. This includes but not limited to the policy on malpractice, plagiarism (should any assignment be given), etc.

Created By: Alora Kar on 07/16/2015 at 02:41 PM
Category: MBA EX-15-T-I Doctype: Document