Credits: 3 (3-0-0)
Description
Module I: Nature of Business law, Source of Business law and their classification. Mercantile law, statue I Case law, Customs and Usage. Agreement and their legal obligations. Essential elements of a valid contract, types of contact, Void and voidable contract. Unenforceable and illegal agreements. Offer and acceptance over the telephone. Law of Arbitration –Definition of Arbitration, Effect of an arbitration. Arbitration without Intervention of Court. Powers and duties of Arbitrators.
Module II: Sale of Goods Act. Definition and essentials of a contract of sale, Distinction between sale and agreement to sell, sale and hire purchase, sale distinguished from contract for work and labour. Kinds of goods, perishable goods. Document to the title of goods. Rules regarding transfer of property, Transfer of Title on sale. Rules regarding delivery of goods. Buyers rights against seller, and unpaid seller’s right. Consumer protection act. Consumers rights, consumer’s disputes redressel agencies, consumer protection council.
Module III: Negotiable Instrumented act. Definition and characteristic of Negotiable instrument. Liabilities of Parties to Negotiable Instruments. Brief exposure to Company law including incorporation of a company - objects, registration, article of association, raising capital from public, company management and reconstruction, amalgamation and winding up.