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:

  1. Essential elements of Contract,
  2. Agreement and contact – capacity to contract,
  3. Free consent,
  4. Consideration,
  5. Lawful objects / consideration,
  6. Breach of contract,
  7. Remedies for breach of contract.

B) Sale of Goods Act, 1930:

  1. Scope of Act,
  2. Sale and Agreement to Sell,
  3. Essentials of a valid sale contract – conditions and warranties,
  4. Implied conditions and warranties,
  5. Rights of an unpaid seller.

The topics covered in Unit 2 are as follows:

C) Negotiable Instrument Act, 1981:

  1. Introduction of Negotiable Instruments,
  2. Characteristics of negotiable instruments,
  3. Promissory note,
  4. Bills of exchange,
  5. Cheque,
  6. Dishonor of cheque.

D) Consumer Protection Act, 1986:

  1. Objects of consumer protection,
  2. Introduction of consumers – who is consumer?
  3. Meaning of the words – Goods and services
  4. Meaning of the words – Defects and Deficiencies of goods and services,
  5. Consumer disputes and complaints.


The topics covered in Unit 3 are as follows:

Company Law:

  1. What is company?
  2. Incorporation of company
  3. MOA,
  4. AOA,
  5. Prospectus,
  6. Meetings,
  7. Meaning of transfer and transmission of shares.


The topics covered in Unit 4 are as follows:

Intellectual Property Rights (IPR):

  1. IPR definition / objectives
  2. Patent definition. What is patentable? What is not patentable? Invention and its attributes, inventors and applications
  3. Trademarks, definition, types of trademarks, infringement and passing off.
  4. Copyright definition and subject in which copyright exists, originality, meaning and content, authors and owners, rights and restrictions.
  5. Geographical indications (only short notes)


The list of reference books of Business Law is as follows:

  1. Elements of mercantile law – N.D. Kapoor
  2. Business Law – P.C. Tulsian
  3. Business Law – S.S. Gulshan
  4. Company Law – Dr. Avtar Singh
  5. Indian Contract Act – Dr. Avtar Singh
  6. Law of Intellectual Property – V.K. Taraporevala.

business law

The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]

Leave a reply

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp

Log in with your credentials


Forgot your details?


Create Account