CORE ELECTIVE ON BUSINESS LAW – OBJECTS AND CONTENT OUTLINE
[Term III PGP 2009-2011]
Introduction:
Law is generally referred to as a set of rules that govern human behaviour towards ensuring social order. In the context of
commerce and business enterprises, legal principles and processes ought to provide a balanced framework within which commercial
activities of various kinds are facilitated, on the one hand to promote entrepreneurship, and on the other to enhance and enforce norms of
accountability. Given the challenges of global economic trends, the increasingly complex nature of business operations and the need to
evolve corresponding regulations, a conceptual understanding of the legal environment is imperative.
Course objectives:
The course shall aim to provide an Indian and International perspective on the following:
a. Background understanding and overview of the nature and sources of law, and the governing legal and judicial system; and
b. An insight into the working of the specific elements that constitute the domain of Business Law.
Course structure and content:
SESSION TOPIC
OBJECTS
CONTENT OUTLINE
THEME – I: GENERAL PRINCIPLES OF LAW AND LEGAL SYSTEM – [2 Sessions]
An Introduction to the working - To enable basic understanding of legal concepts and - Law, Jurisprudence and the Constitution
of the Legal Systems
familiarity with terminologies
- Judicial Process and the System of Courts
Legal Process and Commercial - To provide a comprehensive framework of commercial laws - Basics of Civil and Criminal Procedure in India
Laws
- To situate foundations of International Business law
- Special Laws and Tribunals
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SESSION TOPIC
OBJECTS
CONTENT OUTLINE
- International Economic Law vis-à-vis Indian Legal
System
- Economic Crimes: Essential ingredients
THEME – II: FORMATION AND ENFORCEMENT OF CONTRACTS – [4 Sessions]
Fundamentals of Contract Law
- To emphasize the legal basics of Contracts as fundamental - Basic Elements of Contract Law
instruments of enabling business
- Case law based understanding of essential principles
of valid contracts
Specific Principles of Contract - To enable particular understanding on the working of Law relating to:
Law
contractual principles
- Performance and Discharge of Contracts
- Breach of Contract; Remedies and Damages
- Special Contracts: Principles of Agency
THEME – III: CORPORATE LAW AND GOVERNANCE AND EMERGING TRENDS IN COMMERCIAL LAW – [8 Sessions]
Company Law and Legal - To provide an insight into the structure and process of - An overview of the Companies Act
Framework
Company Law
- Legal principles in administration of Companies
- To acquaint with the emerging trends in Corporate Law
- Directors: Status and Accountability
- Share Capital and Shareholders: Working of the
Protective Framework and Minority Rights
- Corporate Criminal Liability
- Legal procedures of Corporate reorganization
Corporate
Governance
and - To provide a sensitive understanding of ethical principles of - Legal Framework of Corporate Governance
Social Responsibility
corporate governance and the nature of their enforcement
- Corporate Social Responsibility: Policy and Process
Contemporary
Trends
in - To give an overview understanding of specific branches of - Law regulating forms of business entities like LLPs
Commercial Law
emerging principles in commercial law
- Investment Laws; and Bankruptcy Codes
- Competition Law and emerging economic laws
THEME – IV: TECHNOLOGY AND THE LAW – [4 Sessions]
Recognition and enforcement of - To provide basic exposure to Intellectual Property Rights
- Content and Scope of different kinds of IPRs
IPRs
- Patents, Copyrights, Trade Secrets
- Open Source Licensing regimes
Cyber Laws and Procedure
- To emphasize growing significance of Cyber Laws
- Cyber Law Regime: Framework and Process
- Data Protection and Privacy
THEME – V: LAW GOVERNING HUMAN RESOURCES AND FORMS OF DISPUTE SETTLEMENT – [2 Sessions]
Labour and Employment Law
- To understand law regulating human resources
- Basic components of Labour/Employment Law
- Legal principles governing Service Professionals
Alternative Dispute Resolution - To be aware of the legal alternatives for dispute resolution
- Emerging dispute management systems
(ADR) mechanisms
- Arbitration; Mediation and Conciliation
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Methodology of Course Delivery:
The Course shall, given the extent of topical coverage, be delivered mostly in lectures. Recognizing the significance of case
principles and judicial pronouncements in understanding basic elements of the law, the lectures shall be liberally illustrated through leading
Indian and International Court judgments on the issue. Case notes shall be circulated in advance to certain sessions to aid in the
understanding of the relevant issues and with an intention to promote methods of legal reasoning.
Evaluation pattern:
Final Exam (Objective & Analytical)
60%
Take-home assignment – Case Analysis
10% [Refer to Case analysis guidelines provided in a separate document]
Group assignment – Project Report
30% [Refer to Project assignment guidelines provided in a separate document]
Suggested Readings:
Given below is a suggested topic-wise reading list of basic texts that are available for reference in our Library. In addition, a set of
readings collected from various sources shall be photocopied and circulated to all. It must be noted that these references are only for basic
understanding of the topics and not for the assignments. There are far more advanced and updated texts for the wide range and extent of
topics that may be chosen for the assignments. Furthermore, as and when it is necessary, relevant journal articles shall be circulated in
advance as readings for some of the sessions. Students are encouraged to use the online database of www.manupatra.com for the latest
judgements on any of the topics. The presentations of the Faculty shall be distributed for reference upon the completion of the sessions.
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TOPIC
General Principles of Law and
the Legal System
Specific Principles of Contract
Law
BASIC TEXTS (available in IIMB Library)
D.D.Basu, Constitutional Law of India (New Delhi:
Prentice-Hall, 1980)
H.M.Seervai, Constitutional Law of India: A Critical
Commentary (Bombay: N.M.Tripathi, 1983)
Contract Law: Concept and its role in a Developing
Society (Master of Business Laws Module, National Law
School of India University, Bangalore)
Anson, Anson’s Law of Contract (28th Edition, Oxford:
Oxford University Press, 2002)
Company Law
Framework
R.K. Bangia, Law of Contracts & Specific Relief (Madras:
Madras Law Journal Office, 1994)
A. Ramaiya, et.al., Guide to the Companies Act (16th
Edition, New Delhi: Wadhwa & Co., 2004)
Fundamentals of Contract Law
and
Legal
Robert Pennington, Company Law (London: Butterworths,
1979)
Corporate Governance
Social Responsibility
and
Intellectual Property Law
Cyber Law
Labour and Employment Law
Avtar Singh, Company Law (Lucknow: Eastern Book
Company)
Fernando A.C., Corporate Governance: Principles,
Policies and Practices (New Delhi: Pearson, 2006)
Corporate Governance: Principles and Paradigms
(Nagendra Chowdhary (ed.), Hyderabad: ICFAI, 2002)
P. Narayanan, Intellectual Property Law (New Delhi:
Eastern Law House, 1990)
Gerald Ferrera (et. al.), Cyber Law: Text and Cases (West
Thomson, 2001)
O. P. Malhotra, Law of Industrial Disputes – 2 Volumes
(5th Edition, New Delhi: Universal, 1998)
Conciliation and Arbitration Procedures: A Comparative
Study (Geneva: International Labour Office, 1984)
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