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Business and Corporate Laws
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This book Business and Corporate Laws is designed in two parts. The first part covers Business Law. The second part covers the important topics on Company Law.
- Cover
- Halftitle Page
- Title Page
- Copyright Page
- Table of Contents
- Preface
- Part - I BUSINESS LAW
- Chapter 1 Nature and Formation of Contract
- Introduction
- Key Definitions Used in the Indian Contract Act
- Nature of Contract
- Elements of Contracts
- Classification of Contracts
- On the Basis of Validity/Enforceability
- On the Basis of Formation/Creation
- On the Basis of Performance/Execution
- English Law
- Review Questions
- Chapter 2 Offer and Acceptance
- Introduction
- Proposal
- Express Offer and Implied Offer
- Specific or General Offer
- Facts of the Case
- Decision
- Essential Requirements of a Valid Offer
- Revocation of Offer
- Cross Offers
- Counter Offer
- Tenders
- Acceptance
- Essentials of a Valid Acceptance
- Effect of Silence on Acceptance
- Agreement to Agree in Future
- Counter Offer is Not an Acceptance
- Communication of Offer, Acceptance and Revocation
- Revocation of Proposal and Acceptance
- Termination of Offer
- Revocation or Lapse of Offer — Sec. 6
- Offer and Acceptance by Post
- Contracts over Telephone or Telex
- Review Questions
- Chapter 3 Consideration
- Introduction
- Definition
- Types of Consideration
- Essentials of Consideration
- Privity of Contract
- No consideration – No Contract
- Review Questions
- Chapter 4 Capacity of Parties
- Introduction
- Definition
- Minors
- Minors in Indian Law
- Decision
- Legal Decisions Constituting Necessities
- Liability of the Minor for Torts and Crimes
- Persons of Unsound Mind
- Idiocy
- Lunacy
- Drunken Persons
- Disqualified Persons
- Aliens
- Foreign Sovereigns
- Statutory Corporations
- Married Women
- Insolvent Person
- Convicts
- Professionals
- Review Questions
- Chapter 5 Free Consent
- Introduction
- Free Consent
- Coercion
- Essentials of Coercion
- Burden of Proof
- Duress
- Effect of Coercion
- Undue influence
- Essentials of Undue Influence
- Undue Influence–Consequences
- Defences Available against Undue Influence
- Pardanashin Women
- Fraud
- Elements of Fraud
- Mere Silence is not Fraud
- Fraud—Consequences
- Misrepresentation
- Essentials of Misrepresentation
- Consequences of Misrepresentation
- Mistake
- Mistake of Law
- Mistake of Fact
- Review Questions
- Chapter 6 Legality of Object and Consideration
- Introduction
- Agreements against Public Policy
- Review Questions
- Chapter 7 Void Agreements
- Introduction
- Classification of Unlawful Agreements
- Agreements in Restraint of Trade
- Agreements in Restraint of Legal Proceedings
- Exceptions
- Uncertain Agreements
- Wagering Agreements
- Essentials of Wagering Agreements
- Effects of Wagering Agreements
- Agreements Contingent on Impossible Events [Sec. 36]
- Agreement to Agree in Future
- Illegal Agreement
- Review Questions
- Chapter 8 Contingent and Quasi-contracts
- Definition
- Essentials of Contingent Contracts
- Rules Regarding Enforcement of Contingent Contracts (Secs. 32 - 36)
- Quasi-Contracts
- Quantum Meruit
- Review Questions
- Chapter 9 Performance of Contracts
- Introduction
- Tender
- Essentials of a Valid Tender Performance
- By Whom must the Contracts be Performed?
- Performance of Reciprocal Promise (Secs. 51 – 54 and 57)
- Time, Place and Manner of Performance (Secs. 46 – 50 and 55)
- Assignment of Contracts
- Contracts Which Need Not be Performed
- Who can Demand Performance?
- Appropriation of Payments
- Rule in the Hallett’s Estate Case
- Review Questions
- Chapter 10 Modes of Discharge of Contracts
- Introduction
- Discharge by Performance
- Tender
- Discharge By Mutual Consent (Sec. 62)
- Novation
- Rescission
- Alteration
- Remission
- Waiver
- Merger
- Discharge by Impossibility of Performance
- Impossibility at the Time of Contract
- Subsequent or Supervening Impossibility
- The Doctrine of Frustration
- Effects of Supervening Impossibility
- Discharge by Lapse of Time
- Discharge by Operation of Law
- Discharge by Breach of Contract
- Actual Breach of Contract
- Anticipatory Breach of Contract
- Termination by Material Alteration
- Review Questions
- Chapter 11 Remedies for Breach of Contract
- Introduction
- Cancellation or Rescission
- Restitution
- Specific Performance
- Injunction
- Damages
- General or Compensatory Damages
- Special Damages
- Nominal Damages
- Exemplary or Vindictive Damages
- Rules Regarding the Amount of Damages
- Difficulty in Calculating Damages
- Liquidated Damages and Penalty
- Conditions Regarding Payment of Interest
- Quantum Meruit
- Contract not Enforceable
- Review Questions
- Chapter 12 Indemnity and Guarantee
- Introduction
- Contract of Indemnity
- Contract of Guarantee
- Essential Features of a Contract of Guarantee
- Extent of Surety’s Liability
- Kinds of Guarantee
- Specific Guarantee
- Continuing Guarantee
- Rights of Surety
- Rights against Creditor
- Rights against Principal Debtor
- Rights against Co-sureties
- Discharge of Surety
- Discharge of Surety by Revocation
- Discharge of Surety by the Conduct of the Creditor
- Discharge of Surety by Invalidation of Contract
- Review Questions
- Chapter 13 Bailment and Pledge
- Introduction
- Definition of Bailment
- Requisites of Bailment
- Does Deposit of Money Constitute Bailment?
- Bailment and Sale
- Bailment and Hire-purchase
- Classification of Bailments
- On the Basis of Charge
- On the Basis of Benefits
- Duties and Rights of Bailor and Bailee
- Duties of Bailor
- Duties of Bailee
- Rights of Bailor
- Rights of Bailee
- Termination of Bailment
- Lien
- Pledge
- Rights of Pawnor
- Rights of Pawnee
- Duties of Pawnor
- Duties of Pawnee
- Finder of Goods
- Duties of Finder of Goods
- Rights of Finder of Goods
- Pledge by Non-Owners
- Carrier of Goods
- Meaning of Charge
- Meaning of Mortgage
- Sale Vs. Mortgage, Pledge and Hypothecation
- Review Questions
- Chapter 14 Law of Agency
- Introduction
- Contract of Agency—Special Features
- General Rules Regarding Agency
- Classification of Agents
- Creation of Agency
- Rules of Ratification (Elements of Ratification)
- Effects of Ratification
- Liabilities of the Principal towards Third Parties
- Named Principal/ Disclosed Principal
- Unnamed Principal
- Undisclosed Principal
- Revocation/Renunciation
- Termination of Agent’s Authority as to Third Persons
- Duties and Rights of Principal and Agent
- Duties of Principal
- Rights of Principal
- Duties of Agent
- Rights of Agent
- Delegation of Authority of Agent
- Exceptions to the General Rule [Sec. 190]
- Effects of Delegation of Authority
- Personal Liability of an Agent
- Termination of Agency
- By the Act of the Parties
- By Operation of Law
- Effects of Termination
- Irrevocable Agency
- Review Questions
- Chapter 15 Formation of Contracts Under the Sale of Goods Act, 1930
- Introduction
- Contract of Sale
- Sale
- Elements of Contract of Sale
- Making of Contract of Sale
- Subject-matter of Contract
- Distinction between Sale and Agreement to Sell
- Sale and Hire-purchase Agreement
- Essentials of Hire-purchase Agreement
- Meaning of Goods [Sec. 2 (7)]
- Documents of Title to Goods [Sec. 2 (4)]
- Classification of Goods
- Existing Goods
- Future Goods
- Contingent Goods
- Price of Goods
- Modes of Fixing the Price
- Ascertainment of Price (Sec. 9)
- Agreement to Sell at Valuation (Sec. 10)
- Earnest Money
- Conditions and Warranties
- Stipulations as to Time
- Condition and Warranty (Sec. 12)
- Distinction between Condition and Warranty
- Circumstances when a Condition can be Treated as Warranty
- Implied Conditions and Warranties [Secs. 14 – 17]
- Implied Warranties as to the Title and Possession (Sec. 14)
- Implied Conditions as to the Description (Sec. 15)
- Implied Conditions as to Quality or Fitness (Caveat Emptor) [Sec. 16]
- The Exceptions to the Doctrine
- Implied Condition as to the Mercantile Quality [Sec. 16 (2)]
- Usage of Trade [Sec. 16 (3)]
- Sale by Sample [Sec. 17 (1)]
- Review Questions
- Chapter 16 Transfer of Property and Rights of an Unpaid Seller
- Introduction
- Transfer of Title By Non-owners (Secs. 27–30)
- General Rule as to Transfer of Title (Sec. 27)
- Exceptions to the Rule
- Performance of the Contract
- Rules Regarding Delivery of Goods
- Rights of the Buyer
- Acceptance
- Rights of an Unpaid Seller
- Rights of an Unpaid Seller against Goods (Sec. 46)
- Stoppage in Transit
- Rights of Unpaid Seller against the Buyer Personally
- Auction Sale
- Review Questions
- Chapter 1 Nature and Formation of Contract
- Part - II COMPANY LAW
- Chapter 17 Nature of a Company
- Company - Meaning
- Company - Definition
- Characteristics of a Company
- Is Company a Citizen?
- Lifting of Corporate Veil
- Illegal Association
- Kinds of Company
- Classification of Companies
- Association Not for Profit [Section 8]
- One Man Company
- Body Corporate
- Special Privileges and Exemptions to a Private Company
- Distinction between a Private Company and a Public Company
- Distinction between Partnership and a Company
- Advantages of Association Not for Profit Companies
- Chapter 17 Nature of a Company
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