GAUHATI UNIVERSITY SYLLABUS (CBCS PATTERN)
B.COM 2ND SEM (REGULAR COURSE)
COM-RC-2026: BUSINESS LAW
Duration: 3 hrs. Marks: 100 Lectures: 65 |
Objective: The objective of the course is to impart basic knowledge of the important business legislation along with relevant case law.
Contents:
Unit 1: The Indian Contract Act, 1872: General Principle of Law of Contract 13 Lectures
a) Contract – meaning, characteristics and kinds
b) Essentials of a valid contract - Offer and acceptance, consideration, contractual capacity, free consent, legality of objects.
c) Void agreements
d) Discharge of a contract – modes of discharge, breach and remedies against breach of contract.
e) Contingent contracts
f) Quasi - contracts
Unit 2: The Indian Contract Act, 1872: Specific Contract 13 Lectures
a) Contract of Indemnity and Guarantee
b) Contract of Bailment
c) Contract of Agency
Unit 3: The Sale of Goods Act, 1930 13 Lectures
a) Contract of sale, meaning and difference between sale and agreement to sell.
b) Conditions and warranties
c) Transfer of ownership in goods including sale by a non-owner
d) Performance of contract of sale
e) Unpaid seller – meaning, rights of an unpaid seller against the goods and the buyer.
Unit 4: Partnership Laws 13 Lectures
A) The Partnership Act, 1932
a. Nature and Characteristics of Partnership
b. Registration of a Partnership Firms
c. Types of Partners
d. Rights and Duties of Partners
e. Implied Authority of a Partner
f. Incoming and outgoing Partners
g. Mode of Dissolution of Partnership
B) The Limited Liability Partnership Act, 2008
a) Salient Features of LLP
b) Differences between LLP and Partnership, LLP and Company
c) LLP Agreement,
d) Partners and Designated Partners
e) Incorporation Document
f) Incorporation by Registration
g) Partners and their Relationship
Unit 5 (A): The Negotiable Instruments Act 1881 13 Lectures
a) Meaning, Characteristics, and Types of Negotiable Instruments : Promissory Note, Bill of Exchange, Cheque
b) Holder and Holder in Due Course, Privileges of Holder in Due Course.
c) Negotiation: Types of Endorsements
d) Crossing of Cheque
e) Bouncing of Cheque
5(B): Right to Information Act 2005: Important definitions, object, scope, obligation of public authorities under the act; rights for obtaining information; disposal of request, information commission, appeal and penalties.
Suggested Readings:
1. M.C. Kuchhal, and Vivek Kuchhal, Business Law, Vikas Publishing House, New Delhi.
2. Avtar Singh, Business Law, Eastern Book Company, Lucknow.
3. Ravinder Kumar, Legal Aspects of Business, Cengage Learning
4. SN Maheshwari and SK Maheshwari, Business Law, National Publishing House, New Delhi.
5. Aggarwal S K, Business Law, Galgotia Publishers Company, New Delhi.
6. Bhushan Kumar Goyal and Jain Kinneri, Business Laws, International Book House
7. Sushma Arora, Business Laws, Taxmann Publications.
8. Akhileshwar Pathak, Legal Aspects of Business, McGraw Hill Education, 6th Ed.
9. P C Tulsian and Bharat Tulsian, Business Law, McGraw Hill Education
10. Sharma, J.P. and Sunaina Kanojia, Business Laws, Ane Books Pvt. Ltd., New Delhi
Note: Latest edition of text books may be used.
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