Xavier Institute of Management & Entrepreneurship

Chennai
COURSE OUTLINE
Course Title Business Laws
Course Code No. of Credits 2
Program PGDM Academic Year 2023-24
Department General Management No. of sessions 20
Faculty Dr.NC Rajyalakshmi Email rajyalakshmi@xime.or
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Mobile 8328275438
Pre-requisite Courses Understanding Values Co-requisite Courses None
Course Type (Core / Elective-major/ Elective-minor/ ) Core
Term (Term I/ Term II/ Term III/ Term IV/ Term V/ Term VI) Term III

Prepared by Dr.NC Rajyalakshmi Date of circulation 1-02-2024

Approved by Dean Prof. V Suresh Kumar Date of last 12-01-2024
Academics modification

COURSE DESCRIPTION
The objective of this course is to provide the students with practical legal knowledge of
general business law issues and topics to help become more informed, sensitive and effective
business leaders. As the business managers are called upon to create value, marshal resources
and manage risk, it is imperative that they should understand fundamental legal issues
pertaining to business world to enhance their ability to lead and delegate. knowledge of law is
a strategic asset which if timely and properly applied will provide the prospective managers
and their organizations, immediate and long-term benefits and the ability to avoid costly
mistakes.
Learning Objectives:
 To have a basic understanding of the legal system in India
 To have a better understanding of important business laws for smooth business operation
 To be aware of the recent developments in Business environment and applicable laws.

COURSE CONTENT (SYLLABUS)

Unit -1 Introduction – Fundamentals of Law: Necessity or need for Law, Source of Law,
Nature and Function of Law, Rule of Law, Concept of Legal entity, Indian legal System
Accounting
Unit-2 Law of Contracts- Proposal- its communication, acceptance and revocation,
Agreement vis-à-vis contract, void agreement & voidable contract, Consideration – essential
elements, exception to rule- No consideration no contract, privity of contract and
consideration, Capacity to contract, Free consent – coercion, undue influence,
misrepresentation, fraud, Mistake – of fact and of law, Legality of object – agreements
opposed to public policy and in restraint of marriage, trade & legal proceedings, Contingent
contracts, Performance of contract–liability of joint promisor, Consequences of breach of

1
contract–liquidated damages and penalty, Quasi contract, Indemnity and guarantee–surety’s
liability, Bailment–Duties and liabilities of bailor and Bailee, bailment of pledges, Agency–
types of agency, agents duty to principal and vice-versa, ratification and revocation of agent’s
authority
Unit–3 Company Law: – Meaning, characteristics and kinds, Lifting the corporate veil,
Registration and incorporation, Memorandum of Association, Doctrine of Ultravires, Articles
of Association, Rule of constructive notice, Doctrine of Indoor Management, Prospectus-
liability for mis-statement, statement in lieu of prospectus, Shares, Debentures, Directors,
Meetings, Majority Powers and Minority Rights, Prevention of Oppression and Mis-
management, Winding up
Unit– 4 Law of Partnership – Law of partnership: Definition and types of partnership,
relation of partner to one another, Registration. Relation of partners to third party, minor
admitted to the benefits of partnership, Retirement, Dissolution of firm, Limited liability
partnership
Unit-5 Sale of Goods Act & Consumer Law: - Sale of Goods – introductory concepts,
Duties of Buyer and Seller, Sale and quality of goods, Performance of Sale Contract -
Consumer Law - Who Is a Consumer, meaning of Services, Deficiency, Rights of Consumer
and Remedies Available, Consumer Courts, Appeals.
Unit-6 Other laws: Negotiable Instrument Act, Information Technology Act and Transfer of
Property Act.

COURSE OUTCOMES (COs)

At the end of the course students will be able to:
CO Course Outcome Description
CO1 Understand the basic legal framework and fundamentals of major Business Laws

CO2 Apply deductive reasoning to basic legal problems in major Business Laws

CO3 Analyse related business law statutes from the courts

CO4 Apply the rules of business laws to real world conflicts and management challenges.

TEACHING AND LEARNING ACTIVITIES

Learning will be through a combination of text book reading, reviewing articles from
research journals and extensive case analysis, situational analysis, group discussions,
assignments, projects etc.

COURSE ASSESSMENT METHODS

Assessment item
Short quizzes/Concept test
Individual Presentation/Case Study
Presentation/ Class Participation
Weightage Brief description (if any)
10 Short quizzes (Concept based Multiple-
choice answers) at the conclusion of every
topic. Five quizzes of 5 marks each , will be
conducted , best two will be considered for
awarding final marks.
10 Students will be divided into groups and
each group will be given a separate case

2
 study. Each member of the group need to
present the case. Which will enhance the
individual and collective understanding of
the case.
Assignment Submission 10 Individual submission proper evaluation
scheme.
Mid-term examination 25 Questions with short and medium length
descriptive answers covering concepts and
application.
Term-end examination 40 Questions with short and medium length
descriptive answers covering both concepts
and application.
Attendance 5
Total 100

Rationale for choosing the above assessment items (if any):

Short quizzes/ concept test held at the conclusion of different topic promote reading and revision of
concepts.
Case Study presentation help in reinforcing the conceptual knowledge through application-oriented
exercises. It also develops scope for collective learning. Students will learn at least four to five cases
in the class. Provides a perfect platform for brainstorming the learning among the peers.
Assignment will give opportunity for students to explore various sources to get the holistic
knowledge about the activity given.
Mid-term and term-end examinations test both concepts and application abilities. Thus, learning
would be promoted through both repetition and reinforcement.

Assessment tool - CO Matrix: (Note: If there ‘n’ quizzes, fill for each quiz separately)
Assessment item Course Outcomes (COs)
1 2 3 4
Quiz #1 60 40
Quiz #2 30 60 10
Quiz #3 10 20 30 40
Quiz #4 10 10 30 50
Quiz #5 - - 40 60
Case Study Presentation 20 20 40 20
Assignment Submission 50 50
Mid-term examination 30 30 40
Term-end examination 5 5 40 50

Evaluation rubrics:
Assessment item Annexure no.
Individual Presentations IIA

Program Outcomes (POs) – PGDM

At the end of the programme ,students will be able to :-
1. Apply knowledge of management theories and practices to solve business problems
2. Foster Analytical and critical thinking abilities for data-based decision making
3. Ability to develop Value based Leadership
4. Ability to understand, analyze and communicate global, economic, legal, and ethical aspects of
business
5. Ability to lead themselves and others in the achievement of organizational goals, contributing

3
effectively to a team environment

CO - PO Matrix
CO# CO Program Outcomes (POs)
1 2 3 4 5
CO1 Understand the basic legal framework 3 2 3 2 2
and fundamentals of major Business
Laws
CO2 Apply deductive reasoning to basic 3 3 2 3 3
legal problems in major Business Laws
CO3 Analyse related business law statutes 3 3 3 3 2
from the courts
CO4 Apply the rules of business laws to real 3 3 3 2 2
world conflicts and management
challenges.
3: High relevance 2: Medium relevance 1: Low relevance

Essential and Suggested readings:

1.

STUDENT FEEDBACK

At the end of the course student need to give feedback on the following parameters:

1. Course content as given by the faculty

2. Extent of coverage of the same during the course
3. Commitment as a teacher
4. Teaching effectiveness

ADDITIONAL INFORMATION (IF ANY)

Finally, continuous learning and continuous evaluation go hand-in-hand in this course. The goal is to
provide continuous feedback on the student’s performance, thus giving him/her an opportunity for
reflection and self-correction.

Advance preparation for the class is a must in this course. It is expected that the student will attend the
class only after thoroughly reading the prescribed reading material, which, to be fair, will be limited to
a reasonable number of pages per day/ session. Then, class room engagement would be primarily to
clarify issues/ concerns and to build capabilities. Students must clearly note that class attendance is
not a substitute for advance preparation and self-learning.

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Annexure I
Session Plan:
Sessio Unit Topic and Learning Pedagogy Pre-reads/ CO
n Objectives /Activities Suggested
Readings
0 Introduction to Course - NA
outline
1 I Fundamentals of Law: 1
Necessity or need for
Law, Source of Law,
Nature and Function
of Law, Rule of Law,
Concept of Legal
entity, Indian legal
System Accounting

2 Rule of Law, Concept 1

of Legal entity, Indian
legal System
Accounting

3 II Law of Contracts- 2
Proposal- its
communication,
acceptance and
revocation,
Agreement vis-à-vis
contract, void
agreement & voidable
contract,

4 Consideration – 2
essential elements,
exception to rule- No
consideration no
contract, privity of
contract and
consideration,
5 Capacity to contract, 2
Free consent –
coercion, undue
influence,
misrepresentation,
fraud, Mistake – of

5
 fact and of law
6 Capacity to contract, 2
Free consent –
coercion, undue
influence,
misrepresentation,
fraud, Mistake – of
fact and of law

7 Legality of object – 2
agreements opposed
to public policy and in
restraint of marriage,
trade & legal
proceedings,
8 Contingent contracts, 2
Performance of
contract–liability of
joint promisor
9 Consequences of 2
breach of contract–
liquidated damages
and penalty, Quasi
contract, Indemnity
and guarantee–
surety’s liability

10 Bailment–Duties and 2
liabilities of bailor and
Bailee, bailment of
pledges, Agency–
types of agency,
agents duty to
principal and vice-
versa, ratification and
revocation of agent’s
authority

11 III Company Law: – 3

Meaning,
characteristics and
kinds, Lifting the
corporate veil,
Registration and
incorporation,
12 Memorandum of 3
Association, Doctrine
of Ultravires, Articles
of Association, Rule
of constructive notice,

6
 Doctrine of Indoor
Management,
13 Prospectus- liability 3
for mis-statement,
statement in lieu of
prospectus, Shares,
Debentures, Directors,
Meetings, Majority
Powers and Minority
Rights, Prevention of
Oppression and Mis-
management, Winding
up

14 Prospectus- liability 3
for mis-statement,
statement in lieu of
prospectus, Shares,
Debentures, Directors,
Meetings, Majority
Powers and Minority
Rights, Prevention of
Oppression and Mis-
management, Winding
up

15 IV Law of Partnership 4
– Law of partnership:
Definition and types
of partnership, relation
of partner to one
another,
16 Registration. Relation 4
of partners to third
party, minor admitted
to the benefits of
partnership,
Retirement,
Dissolution of firm,
Limited liability
partnership

17 Sale of Goods Act & 4

Consumer Law: -
Sale of Goods –
introductory concepts,
Duties of Buyer and
Seller, Sale and

7
 quality of goods,
Performance of Sale
Contract
18 Consumer Law - 4
Who Is a Consumer,
meaning of Services,
Deficiency, Rights of
Consumer and
Remedies Available,
Consumer Courts,
Appeals.
19 Negotiable 4
Instrument Act,
Information
Technology Act

20 Transfer of Property 4
Act.

Special Note
 Students need to occupy their seats before the faculty arrives. No late comers will
be entertained.
 Usage of Mobile phones strictly prohibited during the class.
 All students need to adhere to the dress code as stipulated by XIME

Wishing Everyone a Happy Learning