BSL605:LEGAL ASPECTS

OF BUSINESS
Lecture #1

The kick start session

Dr. Arpit Sidhu

(Ph.D, UGC-NET, HP-SET, MBA,
MCOM, BCOM)
 Course Outcomes
Through this course students should be able to
•Apply the statutory provisions related to Contract Act and Sales of
Goods Act in business organizations.

•Use legal rights and remedies by applying the provisions related to

Consumer and Intellectual Property Rights.

•Analyze the legal issues related to Negotiable Instruments.

•Interpret the legal implications of FEMA and Competition Act in

designing various business policies and strategies.

•Develop the understanding of Company form of business

organization from its incorporation to winding up.
Course details

LTP – 2 1 0 [Two lectures/week]

Text Book
ELEMENTS OF MERCANTILE LAW by
N.D. KAPOOR, SULTAN CHAND & SONS,
(latest edition)
 Other Reference Books
1. A TEXTBOOK OF COMPANY LAW by P P S
GOGNA, S Chand Publishing

2. A HANDBOOK ON CORPORATE AND OTHER

LAWS by CA CS MUNISH BHANDARI, Bestword
Publications Pvt. Ltd.

3. LEGAL ASPECTS OF BUSINESS: CONCEPTS

AND APPLICATIONS by PARUL GUPTA, VIKAS
PUBLISHING HOUSE
 Course Assessment Model
• Marks break up*
• Attendance 5
• CA (2 Assignments) 40
• 5 MINUTE PRESENTATION 5
ETE
50
• Total 100
The course contents
• Indian Contract Act
• IPR laws
• Negotiable Instrument act
• Sale Of Goods Act
• Consumer Protection Act
• FEMA act
• Competition Act
• Companies act, 2013
• IBC Act
The hitch…
The three BURNING questions in mind…

•Why are we learning LEGAL ASPECTS

OF BUSINESS?

•What would we do with it?

•What will be the course outcome?

WHY TO STUDY LEGAL
ASPECTS OF BUSINESS
WHY LAW IS
IMPORTANT??
 WHY WE STUDY LAW?
• To understand what rights the business
has against other businesses and
individuals.
• For learning how we can present our self.
• For raising our voice against the wrongful
things.
Have you ever entered in a contract ??
• Booked a restaurant
table?
• Hired Auto/ taxi/ Bus?
• Bought
Vegetables/Mobile/any
other stuff
• Bought shoes online?

• So, THESE ARE

CONTRACTS OR NOT?
Yes/No
You've just entered a
legally binding contract
Fake Lucky Draw Offer: Lawyer Gets Two Lakh
Compensation From Renault India
 Court summons Indian cricketer Mohammed
Shami in cheque bounce case filed by wife
• A court here has summoned Indian pacer
Mohammed Shami in connection with the
alleged dishonour of a cheque given to
his estranged wife Hasin Jahan, her
lawyer said here today.
• a case has been under the Negotiable
Instruments (NI) Act for alleged
dishonour of cheque before the chief
judicial magistrate's court at Alipore here.
• The CJM Alipore issued summons on
Shami to appear before the court on
September 20, Jahan's lawyer Zakir
Hussain said.
Are you irked while buying that expensive
water bottle from the shelf due to lack of
product variety?
• Well, with the new set of
guidelines issued by the State
legal metrology department, the
practice is soon set to end.
• From 1September 2018, theatres
and multiplexes will have to “avoid
keeping” only one brand of water
bottle
• ( This is under consumer
protection act)
Tackling False Ads to Bad Deals, the New Consumer Bill Is
a Boon to Us All

• Consumer empowerment is one of the

main components of the new Act.
Misleading ads will be tackled even
more strictly
• The bill aims at penalizing the party filing
a frivolous suit and baseless complaints
with a fine of up to INR 50,000.
• The new Consumer Protection Bill 2018
(if approved) will make way for the
setting up of a Central Consumer
Protection Authority. This authority will
function on the lines of trade
commissions in other countries such as
the US.
• https://www.livelaw.in/lok-sabha-passes-consumer-protection-bill-2018-
read-bill/
 Few more burning questions
• Can you sell an image of the Mona Lisa?
• Can you print Bhagwat Gita ?
• Can we sell fake products under a brand
name?
• Can you use Apple logo for promoting your
own brand???
• The basic objective, as such of the business law is to
ensure that the rights and obligations arising out of
contracts are duly respected and honored, and that
there are remedies available in the course of law to an
aggrieved party against the guilty party.

• Thus, the knowledge of Business laws will help in

understanding the rights that we are able to enjoy and
the courses in law we can avail of in case we face a
violation of the aforementioned rights. They help us
maintain a dignified life in society where our rights are
protected by the court of law.
 Get Set Go!!!
• Gear up
• Fasten your seat belts
• Explore your logical abilities
• Build your packages for future support
 HOW WE WOULD STUDY??
• POWER POINT PRESENTATION
• GROUP DISCUSSION
• CASES
• VIDEOS