UBMSFSI. 4 – Business Law – 50 lectures, 3 credit.
Business Law is a Semester 1 subject of FYBMS. Business Law subject will help to demonstrate BMS students an informed understanding of the law and social responsibility relevant to managing an organization domestically and internationally. Business Law helps BMS students to explain the corporate governance system, including the law related to agency. BMS students will be able to explain how those in control of the organization’s assets, operations and management take into consideration the company’s local and global impacts on society and the environment informed by the opinions of multiple affected stakeholders in their decision-making.
There are 4 main units in Business Law subject which has to be covered in the following time-frame:
Unit 1 – 13 lectures
Unit 2 – 10 lectures
Unit 3 – 10 lectures
Unit 4 – 12 lectures
The topics covered in Unit 1 are as follows:
A) Contract Act, 1872:
- Essential elements of Contract,
- Agreement and contact – capacity to contract,
- Free consent,
- Lawful objects / consideration,
- Breach of contract,
- Remedies for breach of contract.
B) Sale of Goods Act, 1930:
- Scope of Act,
- Sale and Agreement to Sell,
- Essentials of a valid sale contract – conditions and warranties,
- Implied conditions and warranties,
- Rights of an unpaid seller.
The topics covered in Unit 2 are as follows:
C) Negotiable Instrument Act, 1981:
- Introduction of Negotiable Instruments,
- Characteristics of negotiable instruments,
- Promissory note,
- Bills of exchange,
- Dishonor of cheque.
D) Consumer Protection Act, 1986:
- Objects of consumer protection,
- Introduction of consumers – who is consumer?
- Meaning of the words – Goods and services
- Meaning of the words – Defects and Deficiencies of goods and services,
- Consumer disputes and complaints.
The topics covered in Unit 3 are as follows:
- What is company?
- Incorporation of company
- Meaning of transfer and transmission of shares.
The topics covered in Unit 4 are as follows:
Intellectual Property Rights (IPR):
- IPR definition / objectives
- Patent definition. What is patentable? What is not patentable? Invention and its attributes, inventors and applications
- Trademarks, definition, types of trademarks, infringement and passing off.
- Copyright definition and subject in which copyright exists, originality, meaning and content, authors and owners, rights and restrictions.
- Geographical indications (only short notes)
The list of reference books of Business Law is as follows:
- Elements of mercantile law – N.D. Kapoor
- Business Law – P.C. Tulsian
- Business Law – S.S. Gulshan
- Company Law – Dr. Avtar Singh
- Indian Contract Act – Dr. Avtar Singh
- Law of Intellectual Property – V.K. Taraporevala.
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