Business Law

Business Law

Law in a broad sense means rules, regulations, guidelines, principles etc. and there are laws which regulate business, trade and commerce. Business law has day to day application in any kind of business. Business managers striving for excellence must understand and apply the various laws of business in addition to acquiring knowledge and skills in their respective domains of management. The  laws range from Corporate laws, Companies Act, Labour Legislation, Laws of Contracts. Taxation Laws etc.

1. The Indian Contract Act 1872

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Law of Contract (1872):Nature of contract; Classification; Offer and acceptance; Capacity of parties to contract; Free consent; Consideration; Legality of object; Agreement declared void

2. The Sales of Goods Act 1930

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Sale of Goods Act 1930: Formation of contracts of sale; Goods and their classification, price; Conditions, and warranties; Transfer of property in goods; Performance of the contract of sales; Unpaid seller and his rights.

3. The Consumer Protection Act 1986

The Consumer Protection Act 1986: salient features, definition of consumer,Grievance Redressal machinery as regards to the Grievances of the customers /consumers.

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The Consumer Protection Act -1986