CORE ELECTIVE ON BUSINESS LAW – OBJECTS AND CONTENT OUTLINE
[Term III PGP 2008-2010]
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 ongoing financial crisis, 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 comparative perspective on the following:
a. Background understanding of the nature and sources of law;
b. An overview of the governing legal and judicial system; and
c. An insight into the working of the specific elements that constitute the domain of Business Law.
Course structure:
TOPIC
General Principles of Law and
the Legal System
OBJECTS
- To enable basic understanding of legal concepts and
familiarity with terminologies
- To situate foundations of International Business law
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CONTENT OUTLINE
- Law, Jurisprudence and the Constitution
- Judicial Process and the System of Courts
- Legal History and Interpretation
Legal Process and Commercial
Laws
- To provide an insight into the working of the justice system
- To provide a comprehensive framework of commercial laws
Fundamentals of Contract Law
- To emphasize the legal basics of Contracts as fundamental
instruments of enabling business
Specific Principles of Contract
Law
- To enable particular understanding on the working of
contractual principles
Company Law
Framework
Legal
- To provide an insight into the structure and process of
Company Law
- To acquaint with the emerging trends in Corporate Law
and
- To provide a sensitive understanding of ethical principles of
corporate governance
- To give an overview understanding of specific branches of
commercial law
and
Corporate
Governance
Social Responsibility
Relevant
Principles
Commercial Law
Intellectual Property Law
Labour and Employment Law
of
- To provide basic exposure to Intellectual Property Rights
- To emphasize growing significance of IPR Law in
International Trade
- To enable basic understanding of law regulating human
resources
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- Basics of Civil and Criminal Procedure
- Overview and scope of Commercial Laws
- Special Laws and Tribunals
- International Economic Law vis-à-vis Municipal Legal
System
- Economic Crimes: Essential ingredients
- Basic Elements of Contract Law
- Case law based understanding of essential principles
of valid contracts
Law relating to:
- Performance and Discharge
- Breach of Contract
- Remedies and Damages
- Agency
- Bailment
- An overview of the Companies Act and essential
elements of incorporation
- Legal Doctrines and Principles in administration of
Companies
- Directors: Status and Accountability
- Share Capital and Shareholders: Working of the
Protective Framework and Minority Rights
- Corporate Criminal Liability
- Legal Process of Winding up of Companies
- Legal Framework of Corporate Governance
- Corporate Social Responsibility: Policy and Process
- Principles governing Conveyancing, Partnership and
Sale of Goods
- Law regulating Bankruptcy
- Investment Laws
- Competition Law and emerging economic laws
- Content and Scope of different kinds of IPRs
- IPR Law Regime: Framework and Process
- Basic components of Labour Law
- Dispute management systems within the Labour Law
framework
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
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
20%
Take-home assignment – Project Report
20%
Suggested Readings:
Given below is a suggested topic-wise reading list of basic texts that are available for reference in our Library. It must be noted that
these 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 shall be 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.
TOPIC
General Principles of Law and
BASIC TEXTS (available in IIMB Library)
D.D.Basu, Constitutional Law of India (New Delhi:
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the Legal System
Specific Principles of Contract
Law
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
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)
S.C. Srivastava, Labour Law in Factories, Mines,
Plantations, Transport, Shops and other Industrial
Establishments (New Delhi: Prentice-Hall, 1992)
Conciliation and Arbitration Procedures: A Comparative
Study (Geneva: International Labour Office, 1984)
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