BUSINESS LAWS

NEHA JASWAL
 LAWS
Law commonly refers to a system of
rules created and enforced through
social or governmental institutions to
regulate behavior, with its precise
definition a matter of longstanding
debate
Commercial law or business law
 Commercial law or business law is the body of
law which governs business and commerce and
is often considered to be a branch of civil law
and deals both with issues of private law and
public law. Commercial law regulates corporate
contracts, hiring practices, and the
manufacture and sales of consumer goods.
Difference b/w Commercial law or business law
Commercial law
  corporate law focuses on
legal aspects governing sale
and distribution of goods
 Corporate Law revolves
around the operation of a
corporation. Corporate law
deals with legal rights,
obligations and privileges
 E.g.
The Sale Of Goods Act, 1930
 The Indian Partnership Act, 19
32
Business law
 Business law covers legal
aspects used in acquisitions,
mergers, formation of
companies and rights of
shareholders.
  Business Law cover areas such
as contracts, employment laws,
commercial transactions and
taxes. 
 E.g. The Indian Contract Act,
1872
 Negotiable Instrument Act,1881
 INDIAN BUSINESS LAWS
 The Indian Contract Act, 1872
 Negotiable Instrument Act,1881
 The Sale Of Goods Act, 1930
 The Indian Partnership Act, 1932
 The Limited Liability Partnership Act, 2008
 Companies Act 2013
 INDIAN CONTRACT ACT
 https://
www.indiacode.nic.in/handle/123456789/2187?view_type=browse&sa
m_handle=123456789/1362
 The Act as enacted originally had 266 Sections, it had wide scope

 General Principles of Law of Contract – Sections 01 to 75

 Contract relating to Sale of Goods – Sections 76 to 123
 Special Contracts- Indemnity, Guarantee, Bailment & Pledge and
Agency – Sections 124 to 238
 Contracts relating to Partnership – Sections 239 to 266
At present the Indian Contract Act may be divided into two parts:

Part 1: deals with  Part 2: deals with

Special kinds of
the General Contracts such as
Principles of Law  Contract of Indemnity
of Contract and Guarantee
Sections 1 to 75  Contract of Bailment
and Pledge
Contract of Agency.