University College for Women, Koti. B.Com (Computers) V Semester BUSINESS CONTRACTS Paper Code No: 501 Duration: 2hr 30mts Instruction: 4ppw Marks: 50 Objectives: To acquaint the students with provisions of Indian Contract Act. UNIT 1: LAW OF CONTRACTS Definition- essential elements of a valid contract- classification of contract- offer- acceptance, communication and revocation of offer- acceptant and revocation- consideration- capacities of parties. UNIT 2: CONSENT Free consent- flaw in consent- coercion- undue influence- fraud- misrepresentation- mistake- legality of objects- illegal agreements- immoral agreements opposed to public policy. UNIT 3: CONTINGENT CONTRACT Performance of contract- various modes of discharge of contract- certain relation resembling those created by contract- breach of contract- remedies for breach of contract. UNIT 4: SPECIAL CONTRACT Contract of indemnity and guarantee- definition- distinction- rights and liabilities of surety- discharge of surety- bailment contract- definition, distinction, essentials- rights and duties of bailer and bailee- bailee lien- finder of lost goods- discharge of bailment contract. UNIT 5: AGENCY CONTRACT Creation and termination of agency- various modes- types of agents- rights and duties of agent and principal. Suggested Readings: 1. Indian Contract Act 1972. 2. ND Kapoor, Elements of Mercantile Law, Sultan Chand & Sons, New Delhi. 3. MC Shukla: Mercantile Law. 4. E. Venkatesam: Hand book of Mercantile Law. 5. Chawla & Garg: Mercantile and Industrial Law, Kalyani Publishers. 6. Maheshwari and Maheshwari : Mercantile Law. 7. Gulshan & Kapoor: Hand book of Business Law.
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