Business law

COURSE DESCRIPTION

The course basically deals with the introduction of those commercial laws which are directly or indirectly related to Business. It includes a short study of contract law, partnership Act, companies‟ ordinance and Negotiable instrument

The emphasis in this course is to introduce the students with the basic concepts of conventional business law and its implementation in the contemporary financial institutions. The course is outlined in such a way to show the basic philosophy of conventional Business Law along with some example from case study

LEARNING OUTCOMES

At the conclusion of this course, the student will be:

  1. To provide basic philosophy of conventional Business Law so to enable a student to critically analyze these laws with those present in other legal system.
  2. At the conclusion of this course, the student will be:
  3. To know about the basic concepts of conventional business law.
  4. To know about basic aspect of conventional Business Law
  5. To explain that how such different aspects can be practically applied in the modern market
  6. Can determine various hurdles in the way of implementation of such Laws in the modern market
  7. Can put forward some suggestion that how such hurdles can be removed
  8. Can describe easily advantages of conventional Business Law in the business activities
  9. Can describe disadvantages of conventional Business Law
  10. Can determine that how business can be made profitable in the eyes of philosophy of such Laws
  11. Can compare the conventional Business Law with other conventional business laws

COURSE CONTENT Week 01 Definition and classification of Laws, over view of general and commercial terms, Business Entities such as sole proprietorship, partnership and joint stock companies  
Week 02 Definition of a contract, Essential elements of a valid contract, Legal provision governing offers ,communication, acceptance or counter offer, consideration, agreement, lawful purpose, parties to the contract and their intent to create contractual obligations  
Week 03 Rights and Duties of parties, specific performance of the contract ,Discharge of the contract, Breach of the contract and  
remedies, illegal, voidable and void contracts
Week 04 Definition and Essential Elements of a partnership, partnership deeds, rights and duties of partners, partnership distinguished from sole proprietorship and the companies
Week 05 Individual and Joint liabilities of the partners for the firm debts, principles governing ownership of the firm‟s asset and distribution of profits, implied and specific authority of the partners, principle of holding out, Dissolution of the partnership
Week 06 Concept of limited liability and Juristic person Requirement and process of incorporation, Effects of incorporation, types of joint stock companies by nature and formation, Ownership and management of the companies
Week 07 Rights of the shareholders, Rights ,power and duties of the Board of Directors, Statutory provisions governing the election of Directors, meeting of the shareholders and the board of Directors, disclosure requirements and the financial statements
Week 09 Listed vs. non listed companies, advantages and disadvantages of listing, listing requirements of Stock Exchange. salient provision of Code of Corporate Governance, Brief discussion of Securities and Exchange Commission Of Pakistan as the corporate watch dog
Week 09 Mid -term exam
Week 10 Definition, Nature of the contract of sale, conditions and warranties, Definition ,Nature of the contract of sale condition and warranties
Week 11 Transfer of property ,performance of the contract of sale, Delivery of the goods, Unpaid seller and auction sale, Consignment basis, Delivery against advance payment ,supply against letter of credit, types of letter of credit
Week 12 Laws relating to indemnity, guarantees, bailment, hyphothetication, pledge and Mortgage, agency agreement
Week 13 Evolution of Banks, types of banks, major function of banks, Negotiable instruments Act ,Definition ,characteristics of Negotiable instruments,
Week 14 Bill of Exchange and promissory Notes, parties to instrument, negotiation and endorsement, liabilities of the parties, payment and discharge of liabilities
Week 15 Revision
Week 16 Final exam

RECOMMENDED BOOKS

  1. Dr. Khwaja Amjad saeed, Mercantile and Industrial Laws in Pakistan, Latest Edition Institute of Business Management.

2. Nazir Ahmad Shaheen, Practical approach to the Companies Ordinance Latest Edition, PLD.

COURSE DESCRIPTION

The course basically deals with the introduction of those commercial laws which are directly or indirectly related to Business. It includes a short study of contract law, partnership Act, companies‟ ordinance and Negotiable instrument

The emphasis in this course is to introduce the students with the basic concepts of conventional business law and its implementation in the contemporary financial institutions. The course is outlined in such a way to show the basic philosophy of conventional Business Law along with some example from case study

LEARNING OUTCOMES

At the conclusion of this course, the student will be:

  1. To provide basic philosophy of conventional Business Law so to enable a student to critically analyze these laws with those present in other legal system.
  2. At the conclusion of this course, the student will be:
  3. To know about the basic concepts of conventional business law.
  4. To know about basic aspect of conventional Business Law
  5. To explain that how such different aspects can be practically applied in the modern market
  6. Can determine various hurdles in the way of implementation of such Laws in the modern market
  7. Can put forward some suggestion that how such hurdles can be removed
  8. Can describe easily advantages of conventional Business Law in the business activities
  9. Can describe disadvantages of conventional Business Law
  10. Can determine that how business can be made profitable in the eyes of philosophy of such Laws
  11. Can compare the conventional Business Law with other conventional business laws

COURSE CONTENT Week 01 Definition and classification of Laws, over view of general and commercial terms, Business Entities such as sole proprietorship, partnership and joint stock companies  
Week 02 Definition of a contract, Essential elements of a valid contract, Legal provision governing offers ,communication, acceptance or counter offer, consideration, agreement, lawful purpose, parties to the contract and their intent to create contractual obligations  
Week 03 Rights and Duties of parties, specific performance of the contract ,Discharge of the contract, Breach of the contract and  
remedies, illegal, voidable and void contracts
Week 04 Definition and Essential Elements of a partnership, partnership deeds, rights and duties of partners, partnership distinguished from sole proprietorship and the companies
Week 05 Individual and Joint liabilities of the partners for the firm debts, principles governing ownership of the firm‟s asset and distribution of profits, implied and specific authority of the partners, principle of holding out, Dissolution of the partnership
Week 06 Concept of limited liability and Juristic person Requirement and process of incorporation, Effects of incorporation, types of joint stock companies by nature and formation, Ownership and management of the companies
Week 07 Rights of the shareholders, Rights ,power and duties of the Board of Directors, Statutory provisions governing the election of Directors, meeting of the shareholders and the board of Directors, disclosure requirements and the financial statements
Week 09 Listed vs. non listed companies, advantages and disadvantages of listing, listing requirements of Stock Exchange. salient provision of Code of Corporate Governance, Brief discussion of Securities and Exchange Commission Of Pakistan as the corporate watch dog
Week 09 Mid -term exam
Week 10 Definition, Nature of the contract of sale, conditions and warranties, Definition ,Nature of the contract of sale condition and warranties
Week 11 Transfer of property ,performance of the contract of sale, Delivery of the goods, Unpaid seller and auction sale, Consignment basis, Delivery against advance payment ,supply against letter of credit, types of letter of credit
Week 12 Laws relating to indemnity, guarantees, bailment, hyphothetication, pledge and Mortgage, agency agreement
Week 13 Evolution of Banks, types of banks, major function of banks, Negotiable instruments Act ,Definition ,characteristics of Negotiable instruments,
Week 14 Bill of Exchange and promissory Notes, parties to instrument, negotiation and endorsement, liabilities of the parties, payment and discharge of liabilities
Week 15 Revision
Week 16 Final exam

RECOMMENDED BOOKS

  1. Dr. Khwaja Amjad saeed, Mercantile and Industrial Laws in Pakistan, Latest Edition Institute of Business Management.

2. Nazir Ahmad Shaheen, Practical approach to the Companies Ordinance Latest Edition, PLD.

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