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Business Regulatory Framework

Book Description

The legal environment constitutes an important aspect of business and therefore forms an indispensable part of the commerce curriculum. This engaging, visually appealing text will help students develop a thorough understanding of the legal environment in business and enhance their ability to critically engage with issues pertaining to business ethics. Covering around 50 cases and 300 questions and including all judiciary and statutory developments that have transpired so far, the book is ideal for students studying in various universities and autonomous colleges of Odisha.

Table of Contents

  1. Cover
  2. Title Page
  3. Contents
  4. About the Author
  5. Dedication
  6. Preface
  7. Part I – Indian Contract Act 1872
    1. 1. Nature and Kinds of Contract
      1. Introduction
      2. Definition of Contract
      3. Classification of Contracts
      4. Discussion Questions
    2. 2. Offer and Acceptance
      1. Meaning and Definition of Offer
      2. Meaning and Definition of Acceptance
      3. Discussion Questions
    3. 3. Consideration
      1. Meaning and Definition
      2. Rules Regarding Consideration
      3. Discussion Questions
    4. 4. Capacity of Parties
      1. Introduction
      2. Minority Definition
      3. Persons of Unsound Mind
      4. Other Disqualified Persons
      5. Discussion Questions
    5. 5. Free Consent
      1. Coercion
      2. Undue Influence
      3. Misrepresentation
      4. Fraud
      5. Mistake
      6. Discussion Questions
    6. 6. Performance of Contracts
      1. Contracts Which Need Not Be Performed
      2. Assignment of Contracts
      3. Who Can Demand Performance?
      4. Devolution of Joint Rights and Liabilities
      5. Reciprocal Promises
      6. Time and Place of Performance
      7. Rules Regarding Appropriation of Payments
      8. Discussion Questions
    7. 7. Void and Voidable Agreements
      1. Meaning of Void Agreement
      2. Voidable Contracts
      3. Discussion Questions
    8. 8. Contingent Contracts
      1. Meaning of Contingent Contracts
      2. Rules Regarding Contingent Contracts
      3. Discussion Questions
    9. 9. Quasi-Contracts
      1. Meaning of Quasi-Contract
      2. Discussion Questions
    10. 10. Legality of the Object and Consideration
      1. Some Agreements Opposing Public Policy
      2. Object or Consideration Unlawful in Part
      3. Discussion Questions
    11. 11. Termination or Discharge of Contracts
      1. Ways to Terminate Contract
      2. Consequences of Supervening Impossibility
      3. Discussion Questions
    12. 12. Indemnity and Guarantee
      1. Contracts of Guarantee
      2. Difference Between Contracts of Indemnity and Contracts of Guarantee
      3. Discussion Questions
    13. 13. Bailment
      1. Requisites of Bailment
      2. Kinds of Bailment
      3. Duties of the Bailor
      4. Duties of the Bailee
      5. Rights of the Bailor
      6. Rights of the Bailee
      7. Rights and Liabilities of a Finder of Goods
      8. Termination of Bailment
      9. Pledge
      10. Discussion Questions
    14. 14. Agency
      1. Meaning and Definition
      2. Test of Agency
      3. Who Can Appoint an Agent?
      4. Who Can be an Agent?
      5. Methods of Creating Agency
      6. Kinds of Agents
      7. Rights of the Agent
      8. Duties of the Principal
      9. Rights of the Principal
      10. Sub-Agent
      11. Co-Agent or Substituted Agent
      12. Agency and Contracts with Third Persons
      13. Contracts by Agent for an Un-Named Principal
      14. Contract with an Undisclosed Principal
      15. Pretended Agent
      16. Personal Liability of the Agent
      17. Termination of Agency
      18. Discussion Questions
  8. Part II – The Sale of Goods Act
    1. 15. Formation of a Contract of Sale
      1. Meaning of Contract of Sale
      2. Definition of Contract of Sale
      3. Essential Elements of Contract of Sale
      4. Differences between a Sale and an Agreement to Sell
      5. Sale and Hire Purchase Agreements
      6. Classification of Goods
      7. Price of the Goods and Modes of Fixing Price
      8. Discussion Questions
    2. 16. Conditions and Warranties
      1. Conditions and Warranties
      2. Distinction between Conditions and Warranties
      3. The Doctrine of Caveat Emptor
      4. Implied Warranties
      5. Discussion Questions
    3. 17. Transfer of Property
      1. When Does Property Pass from the Seller to the Buyer?
      2. Transfer of Title by Non-Owner
      3. Discussion Questions
    4. 18. Performance of a Contract of Sale
      1. Rules Regarding Delivery
      2. Acceptance of Delivery by the Buyer
      3. Duties of the Buyer
      4. Rights of the Buyers
      5. Discussion Questions
    5. 19. Rights of the Unpaid Seller
      1. Meaning of Unpaid Seller
      2. Rights of an Unpaid Seller
      3. Discussion Questions
    6. 20. Auction Sale
      1. Meaning of Auction Sale
      2. The Rules Governing an Auction Sale
      3. Discussion Questions
  9. Part III – Negotiable Instruments Act
    1. 21. Meaning and Types of Negotiable Instruments
      1. Meaning of Negotiable Instruments
      2. Characteristics of Negotiable Instrument
      3. Classification of Negotiable Instruments
      4. Discussion Questions
    2. 22. Holder and Holder in Due Course
      1. Holder in Due Course
      2. Rights of the Holder in due Course
      3. Discussion Questions
    3. 23. Acceptance and Negotiation
      1. Meaning of Acceptance
      2. Types of Acceptance
      3. Negotiation
      4. Discussion Questions
    4. 24. Dishonour and Discharge of Negotiable Instruments
      1. Dishonour by Non-Acceptance
      2. Dishonour by Non-Payment
      3. Notice of Dishonour
      4. Noting and Protesting
      5. Discharge of a Negotiable Instrument
      6. Discharge of a Party or Some Parties
      7. Discussion Questions
  10. Part IV – Indian Companies Act
    1. 25. Nature of Company
      1. Definition
      2. Features of a Company
      3. Kinds of Companies
      4. Discussion Questions
    2. 26. Formation of a Company
      1. Important Documents of a Company
      2. Articles of Association
      3. Distinction between Articles and Memorandum
      4. Prospectus
      5. Discussion Questions
    3. 27. Company Meetings
      1. Kinds of Meetings
      2. Contents of the Statutory Report
      3. Rules and Procedures of Shareholder's Meetings
      4. Discussion Questions
  11. Part V – The Consumer Protection Act
    1. 28. Objectives and Importance of the Act
      1. Objectives of the Act (As Per Preamble to the Act)
      2. Importance of the Act
      3. Discussion Questions
    2. 29. Consumer Dispute Redressal Machinery
      1. District Forum
      2. State Consumer Dispute Redressal Commission
      3. National Commission (Sec. 20)
      4. Discussion Questions
  12. Notes
  13. Model Question Papers
  14. References
  15. Copyright