This student-friendly text on Business Law discusses in detail different laws and Acts relating to business, commerce, trade and industry. Divided into six parts, Part I, The Indian Contract Act, 1872 discusses topics such as agreement and contract, offer and acceptance, and consideration. Part II, The Sale of Goods Act, 1930 deals with formation of contract of sale, conditions and warranties, and performance of contract of sale. Part III, The Indian Partnership Act, 1932 explains the nature of partnership and registration and dissolution of a firm. Part IV, The Negotiable Instruments Act, 1881 describes parties to negotiable instruments, presentation of negotiable instruments, and so on. Part V, The Indian Companies Act, 1956 discusses the formation and incorporation of a company and appointment of directors and their legal position. Part VI, General Acts, gives an overview of The Consumer Protection Act, 1986 and The Foreign Exchange Management Act, 2000. The book is intended as a text for the undergraduate students of commerce and postgraduate students of management. Besides, students pursuing professional courses such as CA, ICWA and CS and those appearing for Judicial Services examination will also find the book quite useful. Key Features Cites examples, wherever necessary, to clarify the implication of the law. Illustrates concepts with the help of worked out examples. Furnishes a Glossary on the legal terms used. Cites case laws to make the concepts clear. Supplements the text with pedagogical features such as bird’s-eye view to make the book more practical and easy to understand.
acceptance acceptor According to Section agency agent agreed amount appointed authority bailee bailment bailor banker beneﬁt bill of exchange Bird's-Eye View breach of contract Business law buyer cheque coercion consent consideration contingent contract contract of sale court creditor damages debt Deﬁne deﬁnite deliver delivery directors discharged DISCUSS IN SMALL dissolution district forum drawee due course duties entitled Example ﬁle ﬁrm ﬁrst ﬁxed fraud guarantee HALT PONDER holder in due illegal agreement implied Indian Contract Act indorsement insolvent liability lien means memorandum of association minor negotiable instrument Negotiable Instruments Act obligation offer ofﬁce ofﬁcial partner payable payee payment performance person pledge PONDER AND DISCUSS possession principal debtor proﬁts promise to pay promisor promissory note prospectus public limited company quantum meruit quasi contracts registered remuneration Revocation rules sell share speciﬁc sub-agent surety third party transactions transfer undue inﬂuence unlawful valid contract void agreement voidable warranty