BCOC-133: Business Law

By Dr N. Rajendra Prasad | Indira Gandhi National Open University, New Delhi

Learners enrolled: 2721

Foreword for Business law

There is a well-known Maxim in Latin “IGNORANTIA JURIS NON EXCSUT” – Ignorance of Law excuses none. It is a legal principle which says that a person who is unware of law may not be excused from the liability for violating the law by merely saying he/she is unaware of it.

Of course, it is not possible for a common human being to remember/learn about all the branches of law. But at least, a person should know the law of the law by which he/she is governed.

It is not only essential for a merchant to know about this law but also to an individual because they are living in a civilized society and enter into so many contracts from sunrise to sunset every day.

The BCOC 133 for B. Com online course having 6 credits is designed in a simple form by keeping in view the common core syllabus of the university of IGNOU in such a manner that it can be easily understood even by a common person having no knowledge of law.

Business law focuses on all the types of agreements like Social, Domestic, Moral, Religious and Commercial. Out of these 5 agreements it is only the legal or commercial agreements which speaks about enforceability. It ultimately helps a Business to function smoothly within the legal boundaries of the law of the land by which the people are governed.

Through this course the students are made capable enough in guiding the management in decision making without receiving any constant help from the legal department. With this knowledge the students can manage the business more efficiently by avoiding unwanted legal issues as they are capable enough to understand the legal terms and conditions that are related to the business.

Summary

Course Status :	Completed
Course Type :	Core
Language for course content :	English
Duration :	16 weeks
Category :	Commerce
Credit Points :	6
Level :	Undergraduate
Start Date :	15 Jul 2024
End Date :	30 Nov 2024
Enrollment Ends :	31 Aug 2024
Exam Date :	08 Dec 2024 IST
Exam Shift :	Shift-I

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week wise Modules
Sl. No.	Week wise sessions	Topics and Contributors
1.	Week -1: Essentials of a contract	Contract: An overview Classification of contracts Essentials of a valid contract
2	Week- 2: Offer and acceptance	Offer Acceptance Communication of offer and acceptance, Revocation of offer and acceptance
3.	Week-3: Capacity of parties	Who can enter into a contract, Position of minor Agreement by persons of unsound mind. Persons disqualified by law.
4.	Week-4: Free consent	Introduction, meaning of consent Concepts of free consent Coercion, Undue influence
5.	Week-5: Free consent	Distinction between coercion and undue influence Fraud Misrepresentation, distinction between fraud and misrepresentation Mistake.
6	Week-6: Consideration and Legality of object	Consideration, Legal Rule for valid consideration, Stranger to a contract and stranger to consideration, Adequacy of consideration, Legality of Agreement without consideration & Agreements opposed to public policy
7	Week-7: Void agreement and contingent contracts	Void Agreements Contingent contracts
8.	Week-8: Performance and discharge Remedies for Breach and quasi contracts	Introduction, meaning of performance, Types of performance, Performance of reciprocal promises Modes of discharge of a contract. Breach of contract, Remedies for breach contract Quasi contract, quantum meruit
9	Week-9: Indemnity and guarantee Bailment and pledge Bailment	Indemnity and guarantee Rights of a surety , Discharge of surety from liability Bailment, Pledge
10	Week-10: Contract of agency Definition and registration of partnership	Contract agency, creation agency classifications, Scope authority, substituted agent. Agency Ratification Rights, Duties, liabilities termination agency, irrevocable agency Partnership Registration of Partnership
11	Week-11: Rights, duties and liabilities of partners Dissolution of partnership firm	Mutual relations of partners, property of the firm, property of the firm, Relations of the partners. Position of incoming and outgoing. Dissolutions of partnership firm and models Consequences of dissolution of firm
12.	Week-12: Limited liability partnership Nature of contract of sale	Nature of limited liability partnership Meaning of contract sale , Sale and hire purchase agreement types of goods
13.	Week-13: Conditions and warranty Transfer of ownership and delivery	Conditions and warranty Meaning and significance , Meaning and significance, Rules transform ownership Delivery to carriers, reservation of right of dispersal, sale by non owners
14.	Week – 14 Rights of an unpaid seller Negotiable instruments and its parties	Meaning, rights, goods unpaid seller Rights of the buyer, auction sales 34. Negotiable instrument meaning and essentials, Capacity and liabilities of various parties Holder
15	Week-15: Promissory note bill of exchange and cheque Negotiation	Promissory note Bills of exchange, Hundies, cheque Negotiation models, assignments Liability, Fraud
16	Week-16: Presentment and discharge	Presentment acceptance, presentment for payment Dishonor by non-acceptance and non-acceptance.

Books and references

1.M.C.Kuchhal,and Vivek Kuchhal, Business Law, Vivek publishing house, New Delhi

2.Avatar singh, Business law, Eastern book company, Lucknow.

3. S. N Maheshwari and SK Maheswari, Business law, National Publishing

4.G.K. Kapoor Business law, Scholar Tech press, New Delhi

5. P. C. Tulasian and Bharath Tulaian, Business law, McGraw Hill Education

Instructor bio

Dr N. Rajendra Prasad

Indira Gandhi National Open University, New Delhi

Dr. N. Rajendra Prasad is currently an Assistant Professor in the School of Management Studies in the discipline of Commerce, Indira Gandhi National Open University New Delhi. He has done B. Com from Osmania University. He is a Post Graduate in Commerce and obtained his Ph.D degree from the Department of Commerce, Osmania University. He was a Project Fellow under UGC Major Research Project titled “Financing Cost and Efficient Analysis of Public Hospitals in Andhra Pradesh”. He has also worked as a ICSSR Doctoral Research Fellow. He is a Life Member of Indian Commerce Association and Telangana Commerce Association. Dr. Prasad has a brilliant academic record. He has been a Guest Faculty in various Colleges and academic institutions. His academic, organizing abilities are well known to the students of Osmania University. He has a number of publications in National and International journals of repute. He is a personality deeply committed to the academics. During his Ph.D. tenure, he was considered one of the committed and passionate research scholars of the Department of Commerce, at Osmania University. He has also received many best research paper awards at various conferences. He has published many articles in prominent dailies of the Telangana State on different educational and social issues.

Course certificate

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