legal environment of business - model ii

Legal Environment of Legal Environment of BusinessBusiness

- An Overview of Curriculum- An Overview of Curriculum

Unit I – INTRODUCTION TO LEGAL ENVIRONMENT

Applicability to Business Management

Awareness on Litigation

Philosophy of Law

Meaning of Law

Purpose of Law

Sources of Law

Classification of Law

…..Contd..

…..Contd..


Civil Wrong

Driving without License

Rash Driving

Professional Negligence

No Privity of Contract

Crime against Society / Tort – Individual

Right/Injury/Damage

Torts

Malfeasance

Misfeasance

Non-feasance

Tort vis-à-vis Contract

Tort vis-à-vis Crime

General Conditions of Liability in Torts


Binding States

Common Law / Mercantile Law / Equity Law

WTO / GATT

Awareness

National Law and International Law

Nature of International Law

Evolution of Mercantile Law/ Business Law

International Business Law

Justice Delivery System in India

Civil and Criminal Law

Classification of Courts in India

Unit II – BUSINESS CONTRACTS

Agreement / MOU / Contract Implications of Incapacity

Enforceability Standard Form

Fraud / Misrep / Coercion

Legal Elements of Contracts

Agreement

Formation of Contracts

Classification of Contracts / Agreements

Void Agreements

Valid Contracts and Limitations

Voidable Contracts…..Contd..


Unilateral Breach

Negative Relief / Breach of Faith

Where Damages are inadequate

Monetary Relief

Beyond Damages – Interest

Reasonable Value of Performed Part of Contract

Remedies for Breach of Contract

Suit for Rescission

Suit for Injunction

Suit for Specific Performance

Suit for Damages

Penalty by Courts

Suit for Quantum Meruit

…..Contd..


Expressed and Implied

Right of Principal is Duty of Agent

By Revocation / By Law

Specific and Continuing

Co-extensive

Creditors Seek Waivers

An Indemnity

Contracts of Agency

Creation of Agency

Rights and Duties of Parties

Termination of Agency

Contracts of Guarantee

Types of Guarantees

Liability of Surety

Discharge of Surety

Bank Guarantee…..Contd..


Damages / Costs Entitlement

Bank Guarantees Default by Buyer

Import – Export Transactions

UCP

Contracts of Indemnity

Rights of Indemnity

Holder when Sued

Letter of Credit Contracts

Features of a Letter of

Credit

Parties to a Letter of

Credit

Documents under a Letter

of Credit

…..Contd..


At Will

Liquidated Damages / Data Privacy / Confidentiality

Right of Retention

Combining Accounts

Employment Contracts

The Employer-Employee

Relationship

Checklist of Standard

Clauses

Special Rights in Contracts

Lien

Set-off – Banker’s Right…..Contd..


Recital / Consideration / Covenant Signatures / Attestation

State / Central / Timing

Notice / In Rem

Law of Land

Beyond Control of Parties

Requirement for Ending Legal Relationship

Inclusion in Agreements

Risk of Loss Protected

Documentation of Commercial Contracts

Important Clauses in Commercial Contracts Stamp Duty Registration Applicable Law Force Majeure Notice Arbitration Clause Checklist for Standard

Clauses

Unit III – NON-CORPORATE BUSINESS ENTITIES

Advantages and Disadvantages

Family Business

Sole Proprietorship Features of Sole

Proprietorship One Person Company (OPC) Hindu Undivided Family (HUF)

Business Units Meaning and Features Distinction between a

Company and a Hindu

Undivided Family

Business

…..Contd..


Need for registration

Yet to be passed

Partnership Firms –

The Partnership Act, 1932 Legal Formalities and

Registration of Firms

[Sections 58 and 59] Limited Liability Partnerships

(LLP) Salient Features of the

Proposed LLP…..Contd..


Associations with Common Interests

Sec.25 - Company

Cooperative Societies Requirements for forming

a Cooperative Society Registration of a

Cooperative Society Non-Profit Companies

Features of a Non-Profit

Company Registration Formalities

…..Contd..


Society / Trust

Fraud of Insolvent

Discharge of Insolvent

Non-Governmental

Organizations (NGO) NGO as a Society NGO as a Trust

Insolvency Law and

Implications Insolvent Defined Acts of Insolvency Consequences of

Insolvency Insolvency Proceedings

Unit IV – LAW RELATING TO CORPORATE BUSINESS ENTITIES

Unit V – PROPERTY LAW FOR BUSINESS

Risk – Possession – Ownership – By Owner / Non-Owner

Classification of Property

Movable and Immovable

Property

Tangible and Intangible

Property

Contract of Sale – Movable

Property

Transfer of Title …..Contd..


Enforcement of

Security –

Possession –

Sale

No Indian law – To be Treated as Contracts

Borrowing against Property as Security

Hypothecation

Pledge and Hypothecation – Bank Advances

Mortgage of Immovable Property

Hire Purchase of Property

Legal Aspects of Hire Purchase Agreements …..Contd..


Transfer of Right to Enjoy

Actionable Claims

Lease of Property

Essential Features of a Lease

Exchange / Gift / Assignment of

Property

Exchange

Gift

Assignment of Property…..Contd..


Patents –

Trademarks –

Copyrights – GIs.

Intellectual Property Rights (IPR) Classification of Intellectual Property Rights Various Categories of Intellectual Property Protection of Intellectual Property Rights Legal Framework for IPR Protection Geographical Indications of Goods

Unit VI – Business and Tax Laws

Unit VII – Financial Services – Legal and Regulatory Environment

Banking Law and Regulation

Banking Regulation Act,

1949

Reserve Bank of India Act,

1934

Negotiable Instruments Act,

1881

Securitization and

Reconstruction of Financial Assets

and Enforcement of Security

Interest (SARFAESI) Act, 2002

…..Contd..


Insurance Law and Regulation

Essential Elements of

Insurance Contract

Legal Principles of Insurance

Standard Clauses in Insurance

Policies

Regulation of Insurance

Business…..Contd..


Securities Law and Regulation Market Regulation by Companies Act, 1956 The Securities Contracts (Regulation) Act, 1956 – An Overview Regulatory Role of SEBI Role of Stock Exchanges Regulation of Stock Exchanges Trading of Securities Listing of Securities Regulation of Depositories

Unit VIII – BUSINESS TRANSACTIONS AND CYBER LAW

E-Commerce and

Online Contracts

Legal Framework for IT related Transactions

The Information Technology Act, 2000

Click – Wrap Agreements

Authentication of Electronic Records

Meaning of Electronic Record

Authentication by – Digital Signatures

…..Contd..


E-Commerce and

Online Contracts

Attribution of Electronic Records

Acknowledgment of Receipt of Electronic Record

Time and Place of Dispatch and Receipt of Electronic

Record

Security Provisions (Secure Digital Signature)

…..Contd..


Truncated Cheques

Electronic Funds

Transfer

Legal Status for Electronic Records

Amendments to Negotiable Instruments Act

Amendment to RBI Act, 1934

Amendment to Banker’s Books Evidence Act, 1891 – Inclusion of Electronic Data/Records as Evidence …..Contd..


Disc / Tape /

Individuals /

Properties /

Organizations /

Society

Cyber Offences and Penalties

Offences and Penalties under I.T. Act, 2000

Unit IX – COMPETITION AND CONSUMER PROTECTION

Non-

Commercial

Transactions

including

Services

Consumer Protection Law in India

Scope of the Consumer Protection Act, 1986

Consumer Protection (Amendment) Act, 2002

Consumer Redressal Mechanisms

…..Contd..


Regulation of

Anti-

Competitive

Agreements /

Abuse of

Dominant

Position /

Combinations /

Mergers

Competition Law in India

Need for the Competition Law

Regulatory Objectives of the Competition Law

Framework of Competition Act, 2002

…..Contd..


Includes

Services Price /

Sale

Defects and

Losses to

Consumers

Restrictive and Unfair Trade

Practices

Trade Practices

Restrictive Trade Practices

Unfair Trade Practices

Product Liability

Meaning of Product

Liability

Legal Issues …..Contd..


Public Interest

at Large

Public Interest Litigation in India

Procedure to File Public Interest Litigation

Relief Available through Public Interest Litigation

Judicial Activism

Class Action Suits in US

Procedural Aspects

Unit X – ENVIRONMENT PROTECTION AND BUSINESS OBLIGATIONS

Liability Where no Negligence is charged

Absolute Liability without any exceptions

IPC – Public Nuisance / Fouling of Public Utility / Atmosphere Noxious to Health / Negligence with Explosives

Environmental Pollution Sources, Causes and Effects Kinds of Pollution

Environmental Law Rules of Strict liability and Absolute liability The Common Law Remedies Applicability of Criminal Law

Environmental Legislation in India – Overview

…..Contd..

Unit XI – Alternative Dispute Resolution

Speedy Resolution of Disputes

Efficacy of ADR Advantages of ADR Disadvantages of ADR

Mediation – Arbitration – Litigation: A Comparative Note

Arbitration• Types of Arbitration• Definition of Arbitration• Arbitration Agreement

Conciliation• Chief Elements in Conciliation Processes• Mediation Vis-à-vis Conciliation

Mediation Negotiation …..Contd..

Unit XI – Alternative Dispute Resolution

Arbitration and Conciliation Law in India Scope Commencement No. of Conciliators Institutional Assistance in Securing the Conciliator Conciliator’s Procedure Role of the Parties Procedure to be Adopted by the Conciliator(s) Legal Effect of Settlement Disclosure and Confidentiality Admissions Parallel Proceedings Conciliator not to Act as Arbitrator or Counsel Cost and Deposit Admissibility of Evidence in Other Proceedings.