Business Law

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Dr. Shobita P S
Business Administartion
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  • 28 students
  • 1 lessons
  • 0 quizzes
  • 10 week duration
28 students

BUSINESS LAW INTRODUCTION:

The Word ‘Law’ is a general term and has different connotations for different people… e.g.:

  • A citizen may think that law as a set of rules which he must obey
  • A lawyer who practices law may think of law as a vocation
  • A legislator may look at law as something created by him
  • A judge may think of law as a guiding principle to be applied in making decisions.
  • According to Salmond: “Law is the body of principles recognized and applied by the State in the administration of justice”Law is body of principle that convert the police state into a welfare state.

Classification of law

  1. Civil law: The law of the state as applied by the court in the administration of justice
  2. Criminal law: The law relating to crimes
  3. Mercantile or Business law: Aggregate body of those legal rules which are connected with trade ,industry and commerce
  4. Corporate or Industrial law: the law relates to the governing industrial enterprise
  5. Statute Law: The statute law refers to the law laid down in the Acts of parliament
  6. National law: Internal rules of the country
  7. International law: body of rules customary or treaty which are regarded as legally binding on their relationship with other nations
  8. Private or Public law: Public law is concern with the legal relation between the state and the individual. Private law determines the relationship between individuals in their ordinary private capacities.
  • Objective of Law
  1. To establish socio-economic justice remove the existing imbalance in the socio economic justice
  2. To serve as a vehicle of social change
  3. Well-being of citizen
  4. Attainment of freedom of people
  5. Maintenance of law and order in the country

 Ignorance of law is not an excuse

BUSINESS LAW

  • It is also known as Mercantile Law
  • It is the aggregate of rules and regulation which are related with trade, industry and commerce
  • It is connected with business transactions only
  • Mercantile person may be an individual ,partnership or joint stock company
  • Trade : It means exchange of goods and services
  • Business: it means exchange of goods and services for the purpose of making profit.

COURSE OBJECTIVE:

 

REFERENCES:

Aswathappa.K, Business Laws, Himalaya Publishing House, Bengaluru

Kapoor.N.D, Business Laws, Sultan Chand Publications, New Delhi.

Sharma.S.C, Business Law, International Publishers, Bengaluru.

Tulsian, Business Law, McGraw-Hill Education, Mumbai.

  • Module-1: The Indian Contract Act 1872

    Introduction to Indian Contract Act 1872

  • Module-2: Bailment and Pledge

    Bailment and Pledge

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  • Module - 3 : Indemnity And Warrenty
    No items in this section
  • Module - 4 : Contract of Agency
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  • Module - 5 : Sale of Goods Act-1930
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Dr. Shobita P S
Dr. Shobita.P.S, Assistant Professor, St.Albert's College (Autonomous) Ernakulam

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