BUSINESS REGULATIONS

FULLY SOLVED BOOK LASY 5 YEARS PAPERS SOLVED PLUS GUESS

3.5 BUSINESS REGULATIONS

OBJECTIVE
The objective is to introduce the students to various regulations affecting business and to familiarize the
students with such regulations.
Unit 1: INTRODUCTION TO BUSINESS LAWS 06 Hrs
Introduction, Nature of Law, Meaning and Definition of Business Laws, Scope and Sources of Business
Law, Fundamental Rights and Directive Principle of State Policies, Principles having economic
significance, Overview of Business Laws in India.
Unit 2: CONTRACT LAWS 14 Hrs
Indian Contract Act, 1872: Definition of Contract, essentials of a valid contract (all essentials need to be
explained in great detail), classification of contracts, breach of contract and remedies for breach of contract.
Indian Sale of Goods Act, 1930: Definition of contract of sale, essentials of contract of sale, conditions
and warrantees, rights and duties of buyer, rights of an unpaid seller.
Unit 3: INFORMATION LAWS AND RTE 10Hrs
Right to Information Act, 2005: Objectives of the RTI Act, Scope, SuoMoto disclosure, Method of
seeking information, Eligibility to obtain information, Authorities under the Act,.
Right to Education Act: Objectives of the RTE Act – Salient Features.
Unit 4: COMPETITION AND CONSUMER LAWS 12Hrs
The Competition Act, 2002: Objectives of Competition Act, the features of Competition Act, components
of Competition Act, CCI, CAT, offences and penalties under the Act.
Consumer Protection Act, 1986: Definition of the terms consumer, consumer dispute, defect, deficiency,
unfair trade practices and services. Consumer Protection Act, Consumer Redressal Agencies – District
Forum, State Commission, National Commission, any two landmark judgments of the Supreme Court.
Unit 5: ECONOMIC AND ENVIRONMENTAL LAWS 14Hrs
FEMA 1999: Objects of FEMA, definition of important terms – authorized dealer, currency, foreign
currency, foreign exchange, foreign security, Directorate of Enforcement, salient features of the FEMA,
offences and penalties,
Environment Protection Act, 1986: Objects of the Act, definitions of important terms – environment,
environment pollutant, environment pollution, hazardous substance and occupier, types of pollution, global
warming, causes for ozone layer depletion, carbon trade, rules and powers of central government to protect
environment in India.