504: Regulatory
Framework of Business – I
Marks: 80
UNIT-1 A : INDIAN
CONTRACT ACT 1872 30
Contract:
meaning, essentials of a valid contract, types of contract.
Offer and
acceptance: - rules regarding offer, communication, and revocation of offer and
acceptance.
Consideration: -
legal requirements regarding considerations, validity of agreement without
consideration.
Capacity of
parties to contract, free consent, legality of object and consideration, agreements
declared void.
Performance of
contract; termination and discharge of contracts
Breach of
contract: - remedies, damages
B: SPECIAL
CONTRACT 15
Contingent and
quasi contracts; Indemnity and guarantee; Bailment and pledge; Agency.
UNIT II: SALE OF
GOODS ACT 1930 15
Essentials of a
contract of sales; sale distinguished from agreements to sell, bailment, contract
for work and labour and hire purchase; Goods and their classification; price; conditions
warranties; Transfer of property in goods; doctrine of caveat-emptor;
performance of contract of sale; unpaid seller- his rights against goods and
the buyers; sale by auction.
UNIT III: ASSAM
CO-OPERATIVE SOCIETIES ACT, 1949 20
Introduction,
Registration of Societies, Rights and liabilities of members of registered societies,
Management, Duties of Registered Society, Privileges of Registered Societies,
Property and
Funds of Registered Societies, Audit, Inquiry and Inspection, Settlement of
Disputes, Dissolution of Society, Recovery of sums due and enforcement of
obligations.
Suggested Books:
Rohini
Agarwal: Mercantile & Commercial Law, Taxman, New Delhi.
N.D.
Kalpoor, Elements of Mercantile Law, Sultan Chand & Sons, New Delhi.
V.S.
Datey, Students’ Guide to Mercantile Law, Taxmann, New Delhi.
M.C.
Kuchhal, Business Law, Vikas Publishing House, New Delhi.
P.R.
Chandha, Business Law, Galgotia, New Delhi.
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