Docstoc

Sources of Business Law in India

Document Sample
Sources of Business Law in India Powered By Docstoc
					                      Legal Environment of Business

Objective: To familiarize with the legal environment in which the business entities
operate and provide basic appreciation of relevant legal provisions and their impact
on business decisions and operations.


                              Detailed Curriculum

Unit 1    INTRODUCTION TO LEGAL ENVIRONMENT
          Meaning of Law – Purpose of Law – Sources of Law – Classification of Law –
          National and International Law – Evolution of Mercantile / Business Law –
          Justice Delivery System in India.
Unit 2    BUSINESS CONTRACTS
           Legal Elements of Contracts – Parties – Offer – Acceptance – Consideration
           Types of Contracts – Valid Contracts – Voidable Contracts – Breach of
             Contracts and Remedies – Payment of Damages
           Contracts of Agency – Rights and Duties of Principal and Agent –
             Termination of Agency
           Special Contracts – Guarantee / Indemnity / Letter of Credit / Lien / Set Off
           Important Clauses in Corporate & Commercial Agreements
              -  Description of Parties – Recitals of Subject – Consideration –
                 Covenants and Undertakings – Signatures and Attestation –
                 Endorsement and Supplement Deeds – Stamp Duty and Registration –
                 Applicable Law – Force Majeure – Notice – Arbitration.
             Employer and Employee Contracts
              - Conditions – Obligations – Termination – Liquidated damages – Data
                 Privacy – Confidentiality – Indemnification.
Unit 3    NON-CORPORATE BUSINESS ENTITIES
           Legal Formalities and Registration – Rights and Liabilities of Members –
             Sole Proprietorship – Partnership – society
           Limited Liability Partnership Firms (LLPs) – Hindu Undivided Family (HUF).
           Insolvency – Acts of Insolvency – Consequences.
Unit 4    LAW RELATING TO CORPORATE BUSINESS ENTITIES
           Advantages of a Corporate Entity – Salient Features of a Company – Lifting
             the Corporate Veil – Types of Companies – Difference between Private and
             Public Companies
           Incorporation of a Company – Documents of Incorporation
           Raising of Capital from Public – Prospectus – SEBI Guidelines.
           Share Capital and Allotment
           Transfer of Shares – Buyback of Shares – Dividend on Shares.
           Company Management – Qualifications for Appointment of Directors –
             Duties and Liabilities of Director
             - Meetings and Resolutions
                 - Board Meetings – Statutory Meetings
                  -    Annual General Meeting – Extraordinary General Meeting
Created on July 29, 2006                                                        1
                  -    Voting- Proxy
                  -    Resolutions.
              -   Reconstruction and Amalgamation
              -   Mergers and Acquisitions
              -   Winding up.
Unit 5    PROPERTY LAW FOR BUSINESS
           Classification of Property – Moveable and Immovable Property / Tangible
             and Intangible Assets
           Sale and Agreement to Sell – Rights and Duties of Seller and Buyer – Rights
             of Unpaid Seller (Sale of Goods Act)
           Borrowing against Property as Security
             - Hypothecation / Pledge of Current Assets – Rights and Liabilities of
                 Parties
             - Mortgage of Immovable Property
              -    Registration of Charges by Companies
             Hire Purchase / Lease of Property
             Exchange / Gift / Assignment of Property
             Intellectual Property Rights
              -   Classification – Protection of IPR Law against infringement – Remedies.
Unit 6    BUSINESS AND TAX LAWS
          Classification of Taxes – Income Tax – Wealth Tax – Excise Customs Duty –
          Sales Tax – VAT – Service Tax.
Unit 7    FINANCIAL SERVICES – LEGAL AND REGULATORY ENVIRONMENT
           Banking – Regulation of Banking in India – RBI & Banking Regulations Act
             - Negotiable Instruments Act
                  -    Kinds of Negotiable Instruments – Special Characteristics –
                       Cheques – Crossing of Cheques – Endorsements
                  -   Banker’s Duties and Liabilities for Collection and Payment of
                      Cheques
                  - Dishonour of Cheques – Liabilities of Parties and Penalties
              - SARFAESI Act – Salient Features – Execution.
             Insurance
              - Essential Elements of Insurance Contracts
              -   Principles of Insurance – Insurable Interest – Indemnity – Causa
                  Proxima – Risk – Mitigation of Loss – Subrogation – Contribution –
                  Reinsurance – Double Insurance.
              -   Standard Clauses in Insurance Policies – Fire Insurance – Marine
                  Insurance – Liability Insurance.
              - IRDA – Role and Functions
             Trading of Securities – Market Regulation by Companies Act – Securities
              Contracts Regulation – SEBI – Stock Exchanges – Depositories.
Unit 8    BUSINESS TRANSACTIONS AND CYBER LAW
          Application of IT Act, 2000 to Contracts and Transactions
          Digital Signature and Authentication of Electronic Records
          Cyber Offences and Penalties.

Created on July 29, 2006                                                       2
Unit 9    COMPETITION AND CONSUMER PROTECTION
           Consumer Protection Law in India – Redressal Procedure
           Competition Law in India – Prohibition of Anti-competitive Agreements and
             Abuse of Dominant Position
           Restrictive and Unfair Trade Practices.
Unit 10   ENVIRONMENT PROTECTION AND BUSINESS OBLIGATIONS
           Types of Pollution
           Rule of Strict Liability and Absolute Liability
           Applicability of Criminal Law
           Environmental Legislations in India – An Overview.
Unit 11   ALTERNATIVE DISPUTE RESOLUTION MECHANISMS (ADR)
           Alternative Dispute resolution Mechanisms
           Arbitration and Conciliation Law in India.




                                SESSION PLAN
                                  Topic                       Sessions
             Unit 1: Introduction to Legal Environment            2
             Unit 2: Business Contracts                           6
             Unit 3: Non-Corporate Business Entities              2
             Unit 4: Law Relating to Corporate Business           6
                     Entities
             Unit 5: Property Law for Business                    5
             Unit 6: Business and Tax Laws                        2
             Unit 7: Financial Services – Legal and               5
                     Regulatory Environment
             Unit 8: Business Transactions and Cyber Law          1
             Unit 9: Competition and Consumer Protection          2
             Unit 10: Environment Protection and Business         1
                      Obligations
             Unit 11: Alternative Dispute Resolution              1
                     Mechanisms
                           Total No. of Sessions                  33




Created on July 29, 2006                                                      3

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:306
posted:8/22/2011
language:English
pages:3
Description: Sources of Business Law in India document sample