Faculty of Business Administration

Course Outline

1. Course Code and General Information

Course Code BUS482
Course Title Business law and taxation
Credit Hours 03
Pre-requisite -
Program BBA
Semester Spring 2021

2. Instructor and contact information

Faculty Name Muhammad Mubeen, Sumaira Ashraf, Uzair Ghouri, Barkat Ali
Contact Number
Email Address
Office Number
Office Hours

3. Program Learning Outcomes

PO1
Knowledge
Our students will be able to apply knowledge of all the functional areas of business and related
areas, consequently building a broader knowledge base.
PO2
Team building
Our students will be able to build and sustain high-performing teams with a variety of
individual talents and skills to increase the overall organizational success.
PO3
Critical Thinking and Decision Making
Our students will be able to demonstrate problem-solving and decision making skills using
integrated knowledge across business and other disciplines.
PO4
Communication Skills
Our students will be able to communicate professionally, both orally and in writing by using
technology.

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PO5
Entrepreneurship and Leadership
Our students will be able to become entrepreneurs, generate creative and innovative
solutions to business problems.
PO6
Ethics and Social Responsibility
Our students will be able to promote work ethics in business organizations and aspire to
add value to society.

4. Course Description
This Course deals with providing basic knowledge of Business Law, Students will be familiar
about the legal term used in ordinary business life. This course is designed to introduce you to
some basic legal concepts that are essential for business people to understand. Students will also
learn to suggest on minor legal issues thus will save the consultation cost of legal advisory in
Organizations. After covering, Contract Law other topics essential to understand, such as
Company Law, Contract of Carriages, Law of Partnership will be covered too. In addition to
some basic awareness regarding business law, students will also be able to aware Labour related
laws of Pakistan i.e. Factory Law, Worker Compensation Act and Industrial Relationship
Ordinance. Last but not the Least, Taxation Law in Pakistan will be introduced by this Course.
Taxation Law i.e. Income Tax Law and Sales Tax Law along with awareness regarding recent
Modernization of FBR will be explained to students for the core objective of interacting Small
and Medium Business Organization with FBR

5. Course Objectives
CO 1. To familiarize students with the different Mercantile Laws affecting the
economic and business environment in Pakistan.
CO 2. To enable students to grasp the difference among various important aspects of
business, corporate and industrial laws..
CO 3. To equip the students with the necessary skills and aptitude to deal tactfully with
the legal situations arising out of business routine matters.
CO 4. To introduce students with recent modernization of FBR and its interaction with
Small and Medium Business Enterprises.
CO 5. To introduce students with Online FBR portals of Income Tax for e-filing
purpose

6. Course Learning Outcomes (CLO)

1. Be able to apply basic legal concepts of fundamental importance to Business.
2. Describe the nature and classes of contracts. Also identify the elements needed to create
a contract. May be able to Read, interpret contracts, and cases.
3. Discuss the effect of fraud, undue influence, mistakes and misrepresentation existing in
any Contract. Identify and discuss illegal agreements.
4. Be able to Identify Special Nature of contract i.e. Agency, Bailment, Guarantee etc
5. Be able to comment other laws of Pakistan i.e. Company Act 2017, Carriages,

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 Partnership and Sale of Goods
6. Be able to update themselves regarding time to time change in Taxation Law announced
by FBR.
7. Be able to e-file Income Tax Return of Individuals (at least Salaried Individual)

7. Teaching and Assessment

Code CLO Teaching Strategies Course Assessment
Methods
1 Knowledge
CLO 1 Describe judiciary system of Lecture Examination
Pakistan, contract acts and Reading Assignments Quizzes
taxation methods Case Studies Presentation
Group Discussion
2 Team building
- - - -

3 Critical thinking and decision making

CLO 2 Identify different type of - -
CLO 3 contracts and write
interpretations on the basis of
identification.
4 Communication Skills
- - - -

5 Entrepreneurship and
Leadership
- - - -

6 Ethics and social

responsibility
- - - -

8. Alignment of Course Learning Outcomes with Program Learning Outcomes

S No. Course Learning Outcomes (CLO) Program Learning Outcomes (PLO)
1 CLO1 PLO1 , PLO3

2 CLO 2 PLO1 , PLO3

3 CLO 3 PLO1 , PLO3

4 CLO 4 PLO1 , PLO3

5 CLO 5 PLO1 , PLO3

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6 CLO 6 PLO1 , PLO3
7 CLO 7 PLO1 , PLO3

9. Course Contents
Session Topic Recommended Readings
1 Introduction; Legal System & Khalid Mehmood Cheema; Chapter 1
Contract Act (1a, 1b)*
2 Contract Act Khalid Mehmood Cheema; Chapter
( 1.c, 1.d, 1.e, 1.f)* 1/2/3/4/8
3 Contract Act ( 1.g, 1.h, 1.i, 1.j )* Khalid Mehmood Cheema; Chapter
5/6/8/9/10
4 Special Contract ( 2a, 2b, 2c )* Khalid Mehmood Cheema; Chapter
11/12/13
5 Law of Sale of Goods (4.a, 4.b)* Khalid Mehmood Cheema; Chapter
14/15/18
6 Khalid Mehmood Cheema; Chapter
Law of Carriages;
25/26/27
7 Law of Partnership (5.a, 5.b)* Khalid Mehmood Cheema; Chapter 34
8 Midterm Examination
9 Company Law (6) Company Act 2017
10 Income Tax Law Income Tax Ordinance 2001 &
 Basic concepts and exceptions www.fbr.gov.pk
 Charge of tax
 Head of Incomes
 Income from Salary
 Income from Business
 Income from Capital Gain
 Other Sources
 WHT and Final/Minimum Tax
11 Income Tax Law Income Tax Ordinance 2001 &
 Basic concepts and exceptions www.fbr.gov.pk
 Charge of tax
 Head of Incomes
 Income from Salary
 Income from Business
 Income from Capital Gain
 Other Sources
 WHT and Final/Minimum Tax
12 Income Tax Law Income Tax Ordinance 2001 &
 Basic concepts and exceptions www.fbr.gov.pk
 Charge of tax
 Head of Incomes
 Income from Salary

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  Income from Business
 Income from Capital Gain
 Other Sources
 WHT and Final/Minimum Tax
13 Introduction to IRIS – FBR Portal Hands on Practice Session
for e-Filing
14 Sales Tax Law Sales Tax Act
15 Sales Tax Law Sales Tax Act
16 Final Examination

* Please see following table for details description of Session wise Topic

1) Contract Act 1872: General Rules and Principles

a) Offer/Proposal: Kinds of Proposal/Offer ; Ways a Offer Lapse
b) Acceptance: Rules regarding Communication of Acceptance and Offer
c) Promise: Parties of Promise
d) Consideration: its Essentials, Valid Contract without Consideration
e) Agreement: Agreements declared Void by Law
f) Contract: Types, Essentials of Valid Contract, Ways a Contract is Discharged
g) Legal Capacities of Parties
h) Free Consent (Coercion, Undue Influence, Fraud, Misrepresentation, Mistake)
i) Doctrine of Frustration
j) Quasi Contracts
2) Special Contracts
a) Contract of Agency: Definitions, Duties and Rights of Agent and Principals;
Vicarious Liability of Agent
b) Contract of Bailment and Pledge : Parties to it, Rights and Duties
c) Contract of Guarantee and Indemnity
3) Law of Carriages: By Road, By Sea ,By Air
4) Law of Sale of Goods ;
a) Types, Difference between Sale and Agreement to Sell;
b) Unpaid Seller and its Rights; Modes of Price Fixation , Caveat Emptor
5) Law of Partnership
a) Introduction of Partnership Law along with its essentials
b) Registration and Dissolution of Firms with/without order of Courts
6) Company Law (Company Act 2017 in Pakistan)
a) Types of Company, Company as Legal entity, Memorandam of Assosciation and Article of
Association
b) Incorporation of Joint Stock Company and Issuance of Public Offering
Power and duties of Director, Auditor and Secretaries.; Promotors

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 c)

10. Schedule of Assessment Tasks for Students During the Semester

S. Course Assessment Method Percent of Total

No. Assessment
1 Quizzes 30%
2 Midterm Examination 20%
3 Project Assignment (A + B) 20% (12%+8%)
5 Final Examination 30%

11. Grading Policy

‘A’ Grade 88 and above
‘B+’ Grade 81-87
‘B’ Grade 74-80
‘C+’ Grade 67-73
‘C’ Grade 60-66
‘F’ Grade Below 60
12.
13. Text Book(s)
Business Law by Khalid Mehmood Cheema

14. Reference Books & Learning Material

 Business and Mercantile Law by Dr. Prof Khawaja Amjad Saeed (Latest Edition)
 Huzaima & Ikram’s Federal Tax Laws of Pakistan [official version can also be
downloaded from www.fbr.gov.pk
 Practical Handbook of Income Tax (29th Revised Edition) by Dr. Ikramul Haq,
published by AA Consultants & Publishers
 Synopsis of taxes in Pakistan by Mirza Munawar Hussain IBP publications Lahore
(Latest edition).
 Income Tax Ordinance 2001

15. Code of Conduct

 Understand and follow the University policy regarding attendance.
 Arrive in and leave the classroom strictly on time. Late arrival will be marked as absence.
If you leave the classroom in the middle of a session even for a short while, you will be
marked absent.
 Keep your cell phone off during the class.
 Do the assigned readings for a class before coming to the class.

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  Maintain a disciplined, cordial, and respectful attitude towards the teacher and your fellow
students.
 Submit your homework on the due date before the class begins.
 Do not plagiarize from books, journals, or the internet.
 Do not cheat (make someone else do your work or present work for some other course as
work for this course).
 The teacher’s decisions about marks and grade will be final.

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