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FOUNDATION COURSE

ELEMENTS OF BUSINESS LAWS AND MANAGEMENT


PART A ELEMENTS OF BUSINESS LAWS
CONTENTS

STUDY I
LAW
Nature, Meaning and Significance of Law
Significance and Relevance to Modern Civilized Society
Sources of Indian Law
A. Principal Sources of Indian Law
B. Secondary Sources of Indian Law
Sources of English Law
Mercantile or Commercial Law
Sources of Mercantile Law
Mercantile Law in India
Sources of Indian Mercantile Law
SELF-TEST QUESTIONS
STUDY II
THE INDIAN CONTRACT ACT, 1872
Meaning and Nature of Contract
Essential Elements of a Valid Contract
(a) Offer or Proposal and Acceptance
(b) Intention to Create Legal Relations
(c) Consideration
Whether Gratuitous Promise can be Enforced
Flaws in Contract
(i) Flaw in capacity - Capacity and Persons
(ii) Mistake
(iii) Misrepresentation
(iv) Wilful Misrepresentation or Fraud
(v) Coercion
(vi) Undue Influence
(vii) Legality of Object
Agreements in Restraint of Trade Void
Wagering Agreements
Void Agreements
Restitution
Contingent Contract
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