Legal Environment of Business - Model II
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Transcript of Legal Environment of Business - Model II
Legal Environment of Legal Environment of BusinessBusiness
- An Overview of Curriculum- An Overview of Curriculum
Unit I – INTRODUCTION TO LEGAL ENVIRONMENT
Applicability to Business Management
Awareness on Litigation
Philosophy of Law
Meaning of Law
Purpose of Law
Sources of Law
Classification of Law
…..Contd..
…..Contd..
Unit I – INTRODUCTION TO LEGAL ENVIRONMENT
Civil Wrong
Driving without License
Rash Driving
Professional Negligence
No Privity of Contract
Crime against Society / Tort – Individual
Right/Injury/Damage
Torts
Malfeasance
Misfeasance
Non-feasance
Tort vis-à-vis Contract
Tort vis-à-vis Crime
General Conditions of Liability in Torts
Unit I – INTRODUCTION TO LEGAL ENVIRONMENT
Binding States
Common Law / Mercantile Law / Equity Law
WTO / GATT
Awareness
National Law and International Law
Nature of International Law
Evolution of Mercantile Law/ Business Law
International Business Law
Justice Delivery System in India
Civil and Criminal Law
Classification of Courts in India
Unit II – BUSINESS CONTRACTS
Agreement / MOU / Contract Implications of Incapacity
Enforceability Standard Form
Fraud / Misrep / Coercion
Legal Elements of Contracts
Agreement
Formation of Contracts
Classification of Contracts / Agreements
Void Agreements
Valid Contracts and Limitations
Voidable Contracts…..Contd..
Unit II – BUSINESS CONTRACTS
Unilateral Breach
Negative Relief / Breach of Faith
Where Damages are inadequate
Monetary Relief
Beyond Damages – Interest
Reasonable Value of Performed Part of Contract
Remedies for Breach of Contract
Suit for Rescission
Suit for Injunction
Suit for Specific Performance
Suit for Damages
Penalty by Courts
Suit for Quantum Meruit
…..Contd..
Unit II – BUSINESS CONTRACTS
Expressed and Implied
Right of Principal is Duty of Agent
By Revocation / By Law
Specific and Continuing
Co-extensive
Creditors Seek Waivers
An Indemnity
Contracts of Agency
Creation of Agency
Rights and Duties of Parties
Termination of Agency
Contracts of Guarantee
Types of Guarantees
Liability of Surety
Discharge of Surety
Bank Guarantee…..Contd..
Unit II – BUSINESS CONTRACTS
Damages / Costs Entitlement
Bank Guarantees Default by Buyer
Import – Export Transactions
UCP
Contracts of Indemnity
Rights of Indemnity
Holder when Sued
Letter of Credit Contracts
Features of a Letter of
Credit
Parties to a Letter of
Credit
Documents under a Letter
of Credit
…..Contd..
Unit II – BUSINESS CONTRACTS
At Will
Liquidated Damages / Data Privacy / Confidentiality
Right of Retention
Combining Accounts
Employment Contracts
The Employer-Employee
Relationship
Checklist of Standard
Clauses
Special Rights in Contracts
Lien
Set-off – Banker’s Right…..Contd..
Unit II – BUSINESS CONTRACTS
Recital / Consideration / Covenant Signatures / Attestation
State / Central / Timing
Notice / In Rem
Law of Land
Beyond Control of Parties
Requirement for Ending Legal Relationship
Inclusion in Agreements
Risk of Loss Protected
Documentation of Commercial Contracts
Important Clauses in Commercial Contracts Stamp Duty Registration Applicable Law Force Majeure Notice Arbitration Clause Checklist for Standard
Clauses
Unit III – NON-CORPORATE BUSINESS ENTITIES
Advantages and Disadvantages
Family Business
Sole Proprietorship Features of Sole
Proprietorship One Person Company (OPC) Hindu Undivided Family (HUF)
Business Units Meaning and Features Distinction between a
Company and a Hindu
Undivided Family
Business
…..Contd..
Unit III – NON-CORPORATE BUSINESS ENTITIES
Need for registration
Yet to be passed
Partnership Firms –
The Partnership Act, 1932 Legal Formalities and
Registration of Firms
[Sections 58 and 59] Limited Liability Partnerships
(LLP) Salient Features of the
Proposed LLP…..Contd..
Unit III – NON-CORPORATE BUSINESS ENTITIES
Associations with Common Interests
Sec.25 - Company
Cooperative Societies Requirements for forming
a Cooperative Society Registration of a
Cooperative Society Non-Profit Companies
Features of a Non-Profit
Company Registration Formalities
…..Contd..
Unit III – NON-CORPORATE BUSINESS ENTITIES
Society / Trust
Fraud of Insolvent
Discharge of Insolvent
Non-Governmental
Organizations (NGO) NGO as a Society NGO as a Trust
Insolvency Law and
Implications Insolvent Defined Acts of Insolvency Consequences of
Insolvency Insolvency Proceedings
Unit IV – LAW RELATING TO CORPORATE BUSINESS ENTITIES
Unit V – PROPERTY LAW FOR BUSINESS
Risk – Possession – Ownership – By Owner / Non-Owner
Classification of Property
Movable and Immovable
Property
Tangible and Intangible
Property
Contract of Sale – Movable
Property
Transfer of Title …..Contd..
Unit V – PROPERTY LAW FOR BUSINESS
Enforcement of
Security –
Possession –
Sale
No Indian law – To be Treated as Contracts
Borrowing against Property as Security
Hypothecation
Pledge and Hypothecation – Bank Advances
Mortgage of Immovable Property
Hire Purchase of Property
Legal Aspects of Hire Purchase Agreements …..Contd..
Unit V – PROPERTY LAW FOR BUSINESS
Transfer of Right to Enjoy
Actionable Claims
Lease of Property
Essential Features of a Lease
Exchange / Gift / Assignment of
Property
Exchange
Gift
Assignment of Property…..Contd..
Unit V – PROPERTY LAW FOR BUSINESS
Patents –
Trademarks –
Copyrights – GIs.
Intellectual Property Rights (IPR) Classification of Intellectual Property Rights Various Categories of Intellectual Property Protection of Intellectual Property Rights Legal Framework for IPR Protection Geographical Indications of Goods
Unit VI – Business and Tax Laws
Unit VII – Financial Services – Legal and Regulatory Environment
Banking Law and Regulation
Banking Regulation Act,
1949
Reserve Bank of India Act,
1934
Negotiable Instruments Act,
1881
Securitization and
Reconstruction of Financial Assets
and Enforcement of Security
Interest (SARFAESI) Act, 2002
…..Contd..
Unit VII – Financial Services – Legal and Regulatory Environment
Insurance Law and Regulation
Essential Elements of
Insurance Contract
Legal Principles of Insurance
Standard Clauses in Insurance
Policies
Regulation of Insurance
Business…..Contd..
Unit VII – Financial Services – Legal and Regulatory Environment
Securities Law and Regulation Market Regulation by Companies Act, 1956 The Securities Contracts (Regulation) Act, 1956 – An Overview Regulatory Role of SEBI Role of Stock Exchanges Regulation of Stock Exchanges Trading of Securities Listing of Securities Regulation of Depositories
Unit VIII – BUSINESS TRANSACTIONS AND CYBER LAW
E-Commerce and
Online Contracts
Legal Framework for IT related Transactions
The Information Technology Act, 2000
Click – Wrap Agreements
Authentication of Electronic Records
Meaning of Electronic Record
Authentication by – Digital Signatures
…..Contd..
Unit VIII – BUSINESS TRANSACTIONS AND CYBER LAW
E-Commerce and
Online Contracts
Attribution of Electronic Records
Acknowledgment of Receipt of Electronic Record
Time and Place of Dispatch and Receipt of Electronic
Record
Security Provisions (Secure Digital Signature)
…..Contd..
Unit VIII – BUSINESS TRANSACTIONS AND CYBER LAW
Truncated Cheques
Electronic Funds
Transfer
Legal Status for Electronic Records
Amendments to Negotiable Instruments Act
Amendment to RBI Act, 1934
Amendment to Banker’s Books Evidence Act, 1891 – Inclusion of Electronic Data/Records as Evidence …..Contd..
Unit VIII – BUSINESS TRANSACTIONS AND CYBER LAW
Disc / Tape /
Individuals /
Properties /
Organizations /
Society
Cyber Offences and Penalties
Offences and Penalties under I.T. Act, 2000
Unit IX – COMPETITION AND CONSUMER PROTECTION
Non-
Commercial
Transactions
including
Services
Consumer Protection Law in India
Scope of the Consumer Protection Act, 1986
Consumer Protection (Amendment) Act, 2002
Consumer Redressal Mechanisms
…..Contd..
Unit IX – COMPETITION AND CONSUMER PROTECTION
Regulation of
Anti-
Competitive
Agreements /
Abuse of
Dominant
Position /
Combinations /
Mergers
Competition Law in India
Need for the Competition Law
Regulatory Objectives of the Competition Law
Framework of Competition Act, 2002
…..Contd..
Unit IX – COMPETITION AND CONSUMER PROTECTION
Includes
Services Price /
Sale
Defects and
Losses to
Consumers
Restrictive and Unfair Trade
Practices
Trade Practices
Restrictive Trade Practices
Unfair Trade Practices
Product Liability
Meaning of Product
Liability
Legal Issues …..Contd..
Unit IX – COMPETITION AND CONSUMER PROTECTION
Public Interest
at Large
Public Interest Litigation in India
Procedure to File Public Interest Litigation
Relief Available through Public Interest Litigation
Judicial Activism
Class Action Suits in US
Procedural Aspects
Unit X – ENVIRONMENT PROTECTION AND BUSINESS OBLIGATIONS
Liability Where no Negligence is charged
Absolute Liability without any exceptions
IPC – Public Nuisance / Fouling of Public Utility / Atmosphere Noxious to Health / Negligence with Explosives
Environmental Pollution Sources, Causes and Effects Kinds of Pollution
Environmental Law Rules of Strict liability and Absolute liability The Common Law Remedies Applicability of Criminal Law
Environmental Legislation in India – Overview
…..Contd..
Unit XI – Alternative Dispute Resolution
Speedy Resolution of Disputes
Efficacy of ADR Advantages of ADR Disadvantages of ADR
Mediation – Arbitration – Litigation: A Comparative Note
Arbitration• Types of Arbitration• Definition of Arbitration• Arbitration Agreement
Conciliation• Chief Elements in Conciliation Processes• Mediation Vis-à-vis Conciliation
Mediation Negotiation …..Contd..
Unit XI – Alternative Dispute Resolution
Arbitration and Conciliation Law in India Scope Commencement No. of Conciliators Institutional Assistance in Securing the Conciliator Conciliator’s Procedure Role of the Parties Procedure to be Adopted by the Conciliator(s) Legal Effect of Settlement Disclosure and Confidentiality Admissions Parallel Proceedings Conciliator not to Act as Arbitrator or Counsel Cost and Deposit Admissibility of Evidence in Other Proceedings.