GC UNIVERSITY LAHORE

DEPARTMENT OF COMMERCE & FINANCE

Program B.Sc. (BAF)

Course Title Commercial Law
Course Code BAF -3105
Year III
Semester V
Course Duration One Semester (16 weeks of study)
Credit Hours 03
Course Leader Safyan Majid
Course
Hesan Zahid
Instructors

A. Course Description
This course contain extensive knowledge about the Contract Laws including definition of
various core terminologies e.g. agreement, contract, consideration, etc. Kinds of agreement,
pre-requisites of valid contract, formation of contractual relationship, flaws in contract,
discharge of contract, remedies available in case of breach of contract. It also covers basic
knowledge about other ancillary Laws including Laws about indemnity guarantee and
agency, Sales of Goods Act 1930, Negotiable instruments Act 1881 and Partnership Act
1932.
B. Course Goals and Objectives
Goal 01: Description and Narration of various core concepts as well as detailed study of
Significant provision governing contractual relationship among the parties
contracting as defined or provided in the Contract Act, 1872.
Obj-01: Legal meaning of an agreement and kinds of agreement.
Obj-02: Legal meaning of contract and kinds of contract.
Obj-03: Legal pre-requisites of valid contracts and consideration.
Obj-04: Legal meaning of offer and acceptance and the essential of a valid offer as well as of
an acceptance.
Obj-05: Understanding about capacity and contents of contracts.
Obj-06: Brief description of unlawful agreement and void agreement, Coercion, undue
influence, mistake, misrepresentation and fraud.
Obj-07: Elaborate the concept of doctrine of frustration of contracts.
Obj-08: Brief description of concept of restitution.
Obj-09: Brief description of Quasi Contracts & Reciprocal contracts.
Obj-10: Detailed explanation of performance of contracts.
Obj-11: Detailed explanation about different modes of discharge of contract.
Obj-12: Detailed explanation about different remedies available in case of breach of contract.

Goal 02: Understanding the legal provisions governing contractual relationships among
the parties contracting for the purpose of indemnity and guarantee as defined or
explained or provided in Contract Act, 1872.
Obj-01: Legal meaning of contract of indemnity and guarantee.
Obj-02: Elucidating the concept of condition and warrantee.
Obj-03: Understanding the differentiation between the contract of indemnity and guarantee.
Obj-04: Brief description of the concept of sureties & co-sureties.
Obj-05: Brief description of right and liabilities of sureties.
Obj-06: Brief description about the discharge of sureties.
 GC UNIVERSITY LAHORE
DEPARTMENT OF COMMERCE & FINANCE
Goal 03: Understanding the legal provisions governing contractual relationships among
the parties in the nature of Agency contracting as defined or explained or
provided in the Contract Act, 1872.
Obj-01: Legal meaning of agency and modes of forming agency.
Obj-02: Brief description of rights and duties of an agent.
Obj-03: Brief description upon extent of agent’s authority.
Obj-04: Brief description of the concept of delegation of authority by agent.
Obj-05: Explaining the personal liability of agent to third party.
Obj-06: Brief description upon termination of agency.

Goal 04: Developing brief understanding of legal provision governing contractual

relationships among the parties for the purpose of sale of goods as defined or
explained or provided in Sale of Goods Act, 1930.
Obj-01: Legal meaning of Contract of sale and its essential features.
Obj-02: Legal meaning of agreement to sell and differentiation between a sale and an
agreement to sell.
Obj-03: Brief description upon formation of contract of sale.
Obj-04: Brief description upon the subject matter of contract of sale and the price.
Obj-05: Explaining the condition and warranties both express and implied.
Obj-06: Brief description about the rights and duties of buyer and seller and rights of unpaid
seller as well.

Goal 05: Developing brief understanding of legal provision governing contractual

relationships among the parties entering into Partnership as defined or
explained or provided in Partnership Act, 1932.
Obj-01: Legal meaning of partner and partnership.
Obj-02: Brief description upon formation of a partnership.
Obj-03: Brief description upon various forms of partnership.
Obj-04: Detailed explanation about the contractual relation of partners to one another
including rights, duties and liabilities.
Obj-05: Explaining the modes of dissolution of partnership.

Goal 06: Developing brief understanding of legal provision governing nature and
purpose of various negotiable instruments being used in the commercial
environment as defined or explained or provided in Negotiable Instruments Act,
1881.
Obj-01: Legal meaning and features of a negotiable instrument.
Obj-02: Brief explanation about various kinds of negotiable instruments and their nature.
Obj-03: Brief description about Parties to negotiable instrument, banker & customer
relationship.
Obj-04: Detailed explanation about the concepts of payment in due course and Holder &
Holder in due course.
Obj-05: Brief description upon the meaning, nature and purpose of negotiation.
Obj-06: Brief description upon the meaning, nature and purpose of endorsement.
Obj-07: Brief description upon the meaning, nature and purpose of Presentment.
Obj-08: Brief description upon the discharge of instrument and parties.

C. Recommended Books:
Business Law by Khalid Mehmood Cheema (Latest Edition.
Mercantile Law by M.C.Khuchhel.
 GC UNIVERSITY LAHORE
DEPARTMENT OF COMMERCE & FINANCE
The Contract Act, 1872. (Updated & amended to date) student edition.
The Sale of Goods Act, 1930. (Updated & amended to date) student edition.
The Partnership Act, 1932. (Updated & amended to date) student edition.
The Negotiable Instrument Act, 1881. (Updated & amended to date) student edition.
D. Semester Work
The assessment will be carried out on the basis of following criteria
Weightage in
Sr. No. Assessment Tool
Semester Work
Quizzes 40% of Semester
1.
(Multiple Choice Questions) work
Assignment
60% of Semester
2. (Application of concepts studied in class by asking students
work
to collect information through examples in real life.)

E. Assessment Criteria
a. Final Paper
The student will be assessed in final paper from the following modules. The breakup of each
module and its weightage in paper is given as follows:

Weightage in Breakup of
Modules Goals
Examination Questions
Module 1 Goal (1-2) 30%
100 % Theory
Module 2 Goal (3) 20% 100 % Theory
Goal (4)
Module 3 10% 100 % Theory
Goal (5)
Module 4 20% 100 % Theory

Module 5 Goal (6) 20% 100 % Theory

A student have to separately pass semester work and final examination by securing at
least 50% marks in each.