TY - BOOK AU - Kumar, Ravinder TI - Business laws SN - 9789353502683 U1 - 346.07 PY - 2020/// CY - New Delhi PB - Cengage Learning India Pvt. Ltd. KW - Commercial law KW - Business enterprises--Law and legislation N1 - Table of content Introduction Need, Purpose, and Significance of Law The Importance of Business Laws PART I The Indian Contract Act, 1872 1 Establishing Contractual Relationships Contract Defined 6 Contract, Agreement, Promise, and Offer Essential Elements of Establishing a Valid Contract Types of Contracts Offer and Acceptance Acceptance Communication of Offer, Acceptance, and Their Revocation 2 Consideration and Legality of Object Consideration Defined Rules Governing Consideration Stranger to a Contract’ and ‘Stranger to Consideration’ Contracts Without Consideration Legality of Object What is a Lawful Object? When the Object or Consideration is Deemed to be Unlawful? Effect of Partial Illegality 3 Competency of Parties Competency to Contract Minor Persons of Unsound Mind Persons Disqualified by Law 4 Free Consent Consent Defined Coercion What Amounts to Inducing Coercion? Undue Influence Misrepresentation Fraud Loss of Right to Rescind a Contract Mistake 5 Void Agreements and Contingent Contracts Void Agreement Versus Void Contract Void Agreement Versus Illegal Agreement Agreements Expressly Declared Void Restitution of Benefits Received Under a Void Agreement Contingent Contracts 6 Performance and Discharge of Contract Performance (of a Contract) Defined Types of Performance Essentials of a Valid Tender By Whom Can a Contract Be Performed? Who Can Demand Performance? Time and Place for Performance Performance of Reciprocal Promises Discharge of a Contract Assignment of a Contract 7 Remedies for Breach of Contract Remedies Available to an Aggrieved Party Rescission Damages Specific Performance Injunction Quantum Meruit 8 Special Contracts Contracts of Indemnity and Guarantee Contract of Indemnity Contract of Guarantee Contract of Indemnity and Contract of Guarantee Distinguished Extent of Surety’s Liability Kinds of Guarantee Rights of Surety Discharge of Surety Contracts of Bailment and Pledge Bailment Termination of a Bailment Lien Finder of Lost Goods Pledge Rights and Duties of the Pawnee Rights and Duties of the Pawnor Contract of Agency Scope and Extent of an Agent’s Authority Rights of Agent Duties of an Agent Personal Liability of Agent to Third Party Principal’s Liability for Agent’s Acts Termination of Agency Irrevocable Agency PART II The Sale of Goods Act, 1930 9 Contract of Sale of Goods Contract of Sale of Goods Contract of Sale Defined Goods: Meaning and Classification Price Conditions and Warranties Conditions Warranties Condition and Warranty Distinguished Doctrine of Caveat Emptor Doctrine of Caveat Venditor Transfer of Ownership and Delivery Significance of Transfer of Ownership Rules Regarding Transfer of Property Rule Regarding Transfer of Title on Sale Delivery of Goods Unpaid Seller and his Rights Rights of an Unpaid Seller Auction Sale PART III The Negotiable Instruments Act, 1881 10 Negotiable Instruments: An Introduction Negotiable Instrument: Meaning and Definition Kinds of Negotiable Instruments Payment-in-Due-Course Payment of Interest Negotiable Instruments: Special Rules of Evidence Negotiable Instruments: Rules of International Law Holder and Holder-in-Due-Course 11 Negotiation and Assignment Negotiation Assignment Negotiation and Assignment Distinguished Modes of Negotiation Negotiation Back 12 Presentment of Negotiable Instruments Presentment for Acceptance Presentment for Payment 13 Dishonour and Discharge of Negotiable Instruments Dishonour by Non-acceptance Dishonour by Non-payment Dishonour of Cheque for Insufficiency of Funds in the Account: Consequence Notice of Dishonour Dishonoured Instrument: Noting and Protest Discharge of a Negotiable Instrument Discharge of Parties to an Instrument Material Alteration PART IV Other Business Legislations 14 The Limited Liability Partnership Act, 2008 Limited Liability Partnership: An Introduction Genesis and Foundation of LLP in India What is Limited Liability Partnership? Rationale Behind Introduction of LLP in India Structure of an LLP Procedure of Formation of Limited Liability Partnership in India LLP Versus Sole Proprietorship LLP Versus Conventional Partnership LLP Versus Joint Stock Company LLP: Gateway to Greater FDI Liabilities of ‘Designated Partners’ Admission of New Partner Rights and Duties of Partners Whistleblowing Winding Up and Dissolution of a Limited Liability Partnership Annual Filing 15 The Information Technology Act, 2000 IT Act: Aim and Objectives Scope of the Act Major Concepts Important Provisions Attribution, Acknowledgment, and Despatch of Electronic Records Secure Electronic Records and Secure Digital Signatures Regulation of Certifying Authorities: Appointment of Controller and Other Officers Digital Signature Certificates Duties of Subscribers Penalties and Adjudication The Cyber Regulations Appellate Tribunal Offences Network Service Providers Not to Be Liable in Certain Cases Miscellaneous Provisions Appendix: Example Cases Index N2 - Business Laws is a comprehensive text on the subject to meet the venerable needs of B.Com. and BBA programmes offered by various universities and institutes across the country. The text has been tailored to match UGC-mandated CBCS curriculum of Business Laws of University of Delhi and Jamia Millia Islamia—a Central University by an Act of Parliament, two of the leading central universities of the country based in the national capital. The book aims to acquaint the readers with some key business legislations that govern business activities so as to facilitate them to take decisions in their working or professional lives that do not fail the test of the law of land. The legislations covered in this volume are: The Indian Contract Act, 1872; The Sale of Goods Act, 1930; The Negotiable Instruments Act, 1881; The Limited Liability Partnership Act, 2008; and The Information Technology Act, 2000. The book has been written from an Indian perspective to elaborate on the core concepts of business laws in a logical, concise, and yet illustrative manner. Landmark legal cases supplement and illustrate technical aspects of the subject matter. Pedagogical features such as learning objectives, side-bars defining key terms, end-of-chapter summary, objective-type questions, caselets, review questions in addition to a comprehensive set of case studies make the teaching and learning of business laws engaging and enriching ER -