Lahore University of Management Sciences
MGMT 260 – Business Law
Spring 2023
Instructor
Room No.
Office Hours
Email
Telephone
Secretary/TAs
TAs Office Hours
Course URL (if any)
Ali Sultan
TBA
ali.sultan@lums.edu.pk
+92 347 4455838
TBA
suraj.lums.edu.pk
COURSE BASICS
Credit Hours
Lecture(s)
Recitation/Lab (per week)
Tutorial (per week)
3
Nbr of Lec(s) Per Week
Nbr of Lec(s) Per Week
Nbr of Lec(s) Per Week
2
NA
NA
Duration
Duration
Duration
75 Minutes
COURSE DISTRIBUTION
Core
Elective
Open for Student Category
Close for Student Category
Yes
COURSE DESCRIPTION
This course provides an overview of legal matters that students may potentially face in their personal and/or professional lives. To
this end, the course examines the legal principles applicable at the interaction of law and business and looks at the nature of legal
proceedings while covering substantive areas of the law essential for management, accounting and finance students. Landmark
cases from multiple jurisdictions will be used to understand the rules and motivations involved in each area of the law.
COURSE PREREQUISITE(S)
None
Course Teaching Methodology (Please mention following details in plain text)
 Teaching Methodology: In person
 Lecture details: In person sessions
COURSE OBJECTIVES
This course will:
1. Equip the students with discursive and substantive information on law relating to business relationships and
organization.
2. Sensitize students to the issues that continually arise in the area of business law, along with possible solutions.
3. Consider the role of public policy in shaping the law of business relationships and organization.
1
Lahore University of Management Sciences
4.
5.
6.
Enable the students to comprehend both the foundational arguments and the interpretative approaches to business
law.
Develop analytical, cognitive and logical reasoning skills in a multidisciplinary context in the setting of business law.
Link business law to business practice.
LEARNING OUTCOMES
Upon completion of the course, students will be able to;
1.
2.
Demonstrate understanding of law relating to business relationships and organization.
Apply knowledge in practical situations.
UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES
General Learning Goals & Objectives
Goal 1 –Effective Written and Oral Communication
Objective: Students will demonstrate effective writing and oral communication skills
Goal 2 –Ethical Understanding and Reasoning
Objective: Students will demonstrate that they are able to identify and address ethical issues in an
organizational context.
Goal 3 – Analytical Thinking and Problem Solving Skills
Objective: Students will demonstrate that they are able to identify key problems and generate viable
solutions.
Goal 4 – Application of Information Technology
Objective: Students will demonstrate that they are able to use current technologies in business and
management context.
Goal 5 – Teamwork in Diverse and Multicultural Environments
Objective: Students will demonstrate that they are able to work effectively in diverse environments.
Goal 6 – Understanding Organizational Ecosystems
Objective: Students will demonstrate that they have an understanding of Economic, Political,
Regulatory, Legal, Technological, and Social environment of organizations.
Major Specific Learning Goals & Objectives
Goal 7 (a) – Discipline Specific Knowledge and Understanding
Objective: Students will demonstrate knowledge of key business disciplines and how they interact
including application to real world situations (Including subject knowledge).
Goal 7 (b) – Understanding the “science” behind the decision-making process (for MGS Majors)
Objective: Students will demonstrate ability to analyze a business problem, design and apply
appropriate decision-support tools, interpret results and make meaningful recommendations to support
the decision-maker
Indicate below how the course learning objectives specifically relate to any program learning goals and
objectives.
PROGRAM LEARNING GOALS AND
OBJECTIVES
Goal 1 –Effective Written and Oral
Communication
COURSE LEARNING OBJECTIVES
COURSE ASSESSMENT ITEM
Provide students an opportunity to
demonstrate effective communication
Class Participation, cross-questioning
2
Lahore University of Management Sciences
Goal 2 –Ethical Understanding and
Reasoning
Goal 3 – Analytical Thinking and
Problem Solving Skills
Goal 4 – Application of Information
Technology
Goal 5 – Teamwork in Diverse and
Multicultural Environments
Goal 6 – Understanding
Organizational Ecosystems
Provide students an opportunity to
identify and understand ethical issues
Assess students’ problem solving skills
Class Participation, coverage of
numerous legal cases
Quizzes, Midterm & Final Exams
NA
NA
NA
NA
Provide students with multiple
perspectives on organizations
Goal 7 (a) – Discipline Specific
Knowledge and Understanding
Goal 7 (b) – Understanding the
“science” behind the decision-making
process
Real life applications of legal doctrines
Testing and instruction on agency
relationships, partnership law, and
company law
Case study of numerous legal cases
NA
NA
GRADING BREAKUP AND POLICY
Quizzes: 40%
Midterm Examination: 25%
Final Examination: 25%
Class Participation: 5%
Attendance: 5%
EXAMINATION DETAIL
Quizzes
Yes/No: Yes
Combine/Separate: Separate
Duration: TBA
Preferred Date: TBA
Exam Specifications: TBA
Midterm
Exam
Yes/No: Yes
Combine/Separate: Separate
Duration: TBA
Preferred Date: TBA
Exam Specifications: TBA
Final Exam
Yes/No: Yes
Combine/Separate: Separate
Duration: TBA
Exam Specifications: TBA
3
Lahore University of Management Sciences
COURSE OVERVIEW
WEEK/
LECTURE/
MODULE
TOPICS
RECOMMENDED READINGS


Session 1

Introduction to Law and Business



Session 2

Law and Legal Reasoning




Sessions 3 &
4

Court System and Alternative
Dispute Resolution
Rule of Law and Judicial
Efficiency


4
OBJECTIVES/APPLICATION
M. Todd Henderson, “Do
Lawyers Make Better CEOs
than MBAs?,” Harvard
Business Review, Aug.
2017.
Adi Ignatius, “Managers
Don’t Have All the
Answers,” Harvard Business
Review, Aug. 2018.
Bobby Allyn, “How Silicon
Valley fervor explains
Elizabeth Holmes' 11-year
prison sentence, NPR, Nov.
22.
Nathan Reiff, “The Collapse
of FTX: What Went Wrong
With the Crypto
Exchange?” Investopedia,
Jan. 23.
Business Activities and Legal
Environment
Omar Sial & Farah Khan,
“Legal Research Guide to
Pakistan,” NYU Hauser
Global Law School
Program, Jan. 2018.
Clarkson, Miller, Cross
(‘CMC’) pp. 2 – 14 (read
closely); 15 – 40 (skim); 4146 (read closely).
Basic Legal Concepts
.Jeffrey D. Sachs, “How a
World Bank Tribunal
Mugged Pakistan,” DAWN,
Nov. 2019.
Editorial Staff, “Reko Diq
Agreement,” DAWN, Dec.
2022.
Zafar Bhutta, “Pakistan to
Terminate 23 Bilateral
Investment Treaties,”
Express Tribune, Aug. 2021.
US Department of State,
“2022 Investment Climate
Statements: Pakistan,”
Courts & Alternative Dispute
Resolution, RoL & Judicial Efficiency
Lahore University of Management Sciences

Session 5
State Department Reports,
2022.
Ali Sultan, “Rule of Law &
Judicial Efficiency,” UNDP
Development Advocate
Pakistan, Jan. 2018.
Quiz I – 10%
Session 6

Intentional Torts and Privacy


Sessions 7 &
8

Negligence and Strict Liability

CMC pp. 136 – 148.
Negligence and Strict Liability

Product Liability and Consumer
Protection Law


CMC pp. 429 – 438.
Punjab Consumer
Protection Act, 2005 (skim).
Product Liability and Various
Consumer Safeguards



CMC pp. 206 – 219.
Contract Act, 1872 (skim)
Sale of Goods Act, 1930
(skim).
Session 9
Session 10
CMC pp. 116 – 132.
Adeel Wahid, “The Missing
Claims,” DAWN, Aug. 2021.
Torts
Quiz II – 20%

Nature and Terminology of
Contract Law

Agreement in Traditional
Contracts

CMC pp. 222 – 233.
Elements of Contracts
Session 13

Consideration

CMC pp. 243 – 252.
Elements of Contracts
Session 14


Legality
Statute of Frauds

CMC pp. 260 – 270.
Elements of Contracts/ Writing
Requirement

Mistakes, Fraud and Voluntary
Consent

CMC pp. 274 – 285.


CMC pp. 319 – 331.
Muhammad Yar Lak, “The
Impact of Covid-19 on
Contractual Rights and
Obligations in Pakistan,”
LUMS Law Journal, 2020.
Contractual Performance &
Discharge
CMC pp. 174 – 196.
Pakistan Penal Code, 1860
(skim).
Prevention of Electronic
Crimes Act, 2016 (skim).
Elements of Crime and Electronic
Crime
Session 11
Session 12
Sessions 15
& 16
Sessions 17
& 18

Session 19
Sessions 20 22
Session 23
Performance and Discharge in
Traditional and E Contracts
Introduction to Contracts
Mistakes and Duress etc.
Midterm Examination – 25%



Criminal Law and Cyber Crime

Quiz III – 10%
5
Lahore University of Management Sciences
Session 24
Session 25
Session 26
Session 27

Sole Proprietorships and
Franchises

Partnership Law

Corporate Formation and
Financing

Corporate Directors, Officers and
Shareholders
Session 28

CMC pp. 706 – 716.


CMC pp. 719 – 735.
Partnership Act, 1932
(skim).
Limited Liability Partnership
Act, 2017 (skim).
CMC pp. 753 – 771.
The Companies Act, 2017
(skim).




CMC pp. 775 – 793.
Final Exam – 25%
TEXTBOOK(S)/SUPPLEMENTARY READINGS
Course Reading Pack: *Clarkson, Miller, Cross: Business Law Text & Cases*
Supplementary Reading
























The Constitution of Pakistan, 1973
Code of Civil Procedure, 1908
Code of Criminal Procedure, 1898
Qanun-e-Shahadat Order, 1984 (Law of Evidence)
Arbitration Act, 1940
The Contract Act, 1872
Sale of Goods Act, 1930
State Bank of Pakistan Act, 1956
Financial Institutions (Recovery of Finances) Ordinance, 2001
The Bankers Books Evidence Act, 1891
The Commercial Documents Evidence Act, 1939
Punjab Consumer Protection Act, 2005
Pakistan Penal Code, 1860
Prevention of Electronic Crimes Act, 2016
Trademarks Ordinance, 2001
Patents Ordinance, 2003
Registered Design Ordinance, 2000
Copyright Ordinance, 1962
The Geographical Indications (Registration and Protection) Act, 2020
Partnership Act, 1932
Limited Liability Partnership Act, 2017
The Companies Act, 2017
The Competition Act, 2010
Pakistan Environmental Protection Act, 1997
6
Business Organization
Partnerships and Limited Liability
Partnerships
Company Formation and Financing
Corporate Governance