LegalEnvironmentofBusiness

Classof Credit : 2011 : 3 AcademicYear Semester Sessions : First : II : 33 CourseCode : SLGM502

Objective
To familiarize with the legal environment in which the business entities operate and provide basic appreciationofrelevantlegalprovisionsandtheirimpactonbusinessdecisionsandoperations. REFERENCEBOOKS LegalEnvironmentofBusiness AUTHOR/PUBLICATION ICFAI GK. Taxmann

StudentsGuideToCompany Law:University Majumdar,AK / Kapoor, Publications 2005 Edition

th Student'sGuidetoIncomeTax 40 e

Dr Singhania, V K /Dr Singhania, Monica. TaxmannPublications 2009 Kapoor,ND.SultanChand&Sons2008 Gaur, VP / Narang, DP. Kalyani Publishers 2008 Kapoor,ND.SultanChand&Sons 1999

CompanyLaw&SecretarialPractice IncomeTaxLaw&Practice ElementsofMercantileLaw

Nabhi's manual of SEBI : Guidelines on NabhiPublications1993 capital issues merchant banking and mutual funds MercantileLaw BankingLawandPractice,22 e
nd

Singh,Avatar.EasternBookCompany 2006 Varshney,PN.SultanChand&Sons 2009

Law Relating To Information Technology: Satya,PrasadTvr. AsiaLawHouse 2001 CyberLaws

DetailedSyllabus
IntroductiontoLegalEnvironment MeaningofLawPurposeof LawSourcesofLawClassificationofLawTortsNationaland International LawEvolutionofMercantile /BusinessLawInternationalBusiness Law Justice DeliverySysteminIndia. BusinessContracts LegalElementsofContractsParties OfferAcceptanceConsideration TypesofContractsValidContractsVoidableContractsBreachofContractsandRemedies PaymentofDamages ContractsofAgency RightsandDutiesofPrincipalandAgentTerminationofAgency SpecialContractsGuarantee/Indemnity/LetterofCredit/Lien/SetOff ImportantClausesinCorporate&CommercialAgreements
SecondSemester

DetailedSyllabus TheClassof2011

 DescriptionofPartiesRecitalsofSubjectConsiderationCovenantsandUndertakings
Signatures and Attestation Endorsement and Supplement Deeds Stamp Duty and RegistrationApplicableLawForceMajeureNoticeArbitration. EmployerandEmployeeContracts

Conditions Obligations Termination Liquidated damages Data Privacy

Confidentiality Indemnification. NonCorporateBusinessEntities LegalFormalitiesandRegistrationRightsandLiabilitiesofMembersSoleProprietorship Partnership society LimitedLiabilityPartnershipFirms(LLPs)HinduUndividedFamily(HUF). Insolvency ActsofInsolvency Consequences.

LawRelatingToCorporateBusinessEntities AdvantagesofaCorporateEntity SalientFeaturesofaCompany LiftingtheCorporateVeil TypesofCompaniesDifferencebetweenPrivateandPublicCompanies IncorporationofaCompany DocumentsofIncorporation RaisingofCapitalfromPublicProspectusSEBIGuidelines. ShareCapitalandAllotment TransferofSharesBuybackofSharesDividendonShares. Company Management Qualifications for Appointment of Directors Duties and Liabilities ofDirector

MeetingsandResolutions BoardMeetingsStatutoryMeetings AnnualGeneralMeetingExtraordinaryGeneralMeeting VotingProxy Resolutions. ReconstructionandAmalgamation MergersandAcquisitions Windingup

PropertyLawforBusiness ClassificationofProperty MoveableandImmovableProperty/TangibleandIntangibleAssets SaleandAgreementtoSellRightsandDutiesof SellerandBuyer Rightsof UnpaidSeller (SaleofGoodsAct) BorrowingagainstPropertyasSecurity

Hypothecation/PledgeofCurrentAssets RightsandLiabilitiesofParties MortgageofImmovableProperty RegistrationofChargesbyCompanies

DetailedSyllabus TheClassof2011

SecondSemester

HirePurchase/Leaseof Property Exchange/Gift/AssignmentofProperty IntellectualPropertyRights

ClassificationProtectionofIPRLawagainstinfringementRemedies.

BusinessandTaxLaws Classification of Taxes Income Tax Wealth Tax Excise Customs Duty Sales Tax VAT ServiceTax. FinancialServicesLegalandRegulatoryEnvironment Banking RegulationofBankinginIndiaRBI&BankingRegulationsAct

NegotiableInstrumentsAct Kinds of Negotiable Instruments Special Characteristics Cheques Crossing of ChequesEndorsements BankersDutiesandLiabilitiesforCollectionandPaymentofCheques DishonorofChequesLiabilitiesofPartiesandPenalties SARFAESIActSalientFeatures Execution.

Insurance

EssentialElementsofInsuranceContracts Principles of Insurance Insurable Interest Indemnity Causa Proxima Risk MitigationofLossSubrogationContributionReinsuranceDoubleInsurance. Standard Clauses in Insurance Policies Fire Insurance Marine Insurance Liability Insurance. IRDARoleandFunctions

TradingofSecuritiesMarketRegulationbyCompaniesActSecuritiesContractsRegulation SEBI StockExchangesDepositories.

BusinessTransactionsandCyberLaw ApplicationofITAct,2000toContractsandTransactions DigitalSignatureandAuthenticationofElectronicRecords CyberOffencesandPenalties. CompetitionandConsumerProtection ConsumerProtectionLawinIndiaRedressalProcedure Competition Law in India Prohibition of Anticompetitive Agreements and Abuse of DominantPosition RestrictiveandUnfairTradePractices ProductLiability PublicInterestLitigationinIndia

DetailedSyllabus TheClassof2011

SecondSemester

ClassActionSuitsinUS.

EnvironmentProtectionandBusinessObligations TypesofPollution RuleofStrictLiabilityandAbsoluteLiability ApplicabilityofCriminalLaw EnvironmentalLegislationsinIndiaAnOverview.

AlternativeDisputeResolutionMechanisms(ADR) AlternativeDisputeresolutionMechanisms ArbitrationandConciliationLawinIndia.

Cases Facultywillbehandlingeightormorecases. NuisanceMustHappen! OverseasLiabilityforCreditCardIssuers CanAdvertisementsCreateaContract? ContractsoverTelephone ButMinorisanInnocent! IdentityCrisisinContracts UnilateralMistakeandBlindBelief StrangertoContract ConfusionoverSubject ClaimbeyondSight VRS:IsItaRightoftheEmployee? AgreeingunderPressure IsaBankGuaranteeMorethanaNormalGuarantee? ProofofAgency:WhoseBurden? LetterofCreditandSale CantherebeaPledgebyDocuments? ImpliedAuthorityofPartners SalomonandSalomon:IsOneandtheSame? IsaCompanyaCitizen? DoWorkmenHaveaStakeintheCompany? MonsoonWedding:OnlybyInvitation HarshTruthsinSoftwarePiracy RecognizeProfit:IgnoreLoss! PurchaseofBusinessvs.PurchaseofProperty

DetailedSyllabus TheClassof2011

SecondSemester

OverFlowingCash:IsitaLosingBusiness? DishonourofCheque:JeopardyofaJointAccountHolder StopPaymentCannotSaveCriminalAction? ShouldInsurerCompensateLossfromRiots? ManipulatingPublicIssue:IsitaFraud? KnowYourCustomer InvasionofPrivacyoverInternet CarParkinginHotelPremisesatRisk SeedsFailtheFarmer TradeandEnvironment:ConflictandCompatibility ArbitrationClauseisEnoughtoArbitrate

(Source:CaseStudiesinManagement VolumeIX) SuggestedScheduleofSessions Topic IntroductiontoLegalEnvironment (includingcasediscussion) BusinessContracts(includingcasediscussion) NonCorporateBusinessEntities(includingcasediscussion) LawRelatingtoCorporateBusinessEntities(includingcasediscussion) PropertyLawforBusiness(includingcasediscussion) BusinessandTaxLaws (includingcasediscussion) FinancialServicesLegalandRegulatoryEnvironment (includingcase discussion) BusinessTransactionsandCyberLaw(includingcasediscussion) CompetitionandConsumerProtection(includingcasediscussion) EnvironmentProtectionandBusinessObligations (includingcase discussion) AlternativeDisputeResolutionMechanisms(includingcasediscussion) Total No.ofSessions 2 6 2 6 5 2 5 1 2 1 1 33

DetailedSyllabus TheClassof2011

SecondSemester