Introductory Lecture On Business Law

by
Shan Ali
LL.M (Gold Medalist)

BBA 4
Credit Hours # 3

Fall-2022
 What Is Law?
Austinian Simple Definition Black's Law
Definition of Law of Law Dictionary

Law is a command of the Law is the right of one, “A body of rules of

sovereign backed by obligation of the other, action or conduct
sanction maintained by law prescribed by controlling
enforcing authority. authority, and having
binding legal force’

John Austin was British jurist of

nineteenth century. He has been a Dictionary, 6th ed
professor of law at university
college London.
Basic theories of law

Natural Positive
Law Law
 Types of Law

 Criminal Law
 Civil Law
 Family Law
 Business Law
 Constitutional Law
 Private Law
 Public Law
 Merits of law / Advantages
 Uniformity and Certainty: Law provides Uniformity and certainty to
the administration of justice.

 Protection against arbitrary, biased and dishonest decisions.

 Freedom from errors of individual judgement.

 Reliability
 De Merits of Law / Disadvantages
 The rigidity of law

 Conservative Nature

 Complexity 
 Why do we need a law?
 To govern the behavior of people in accordance with society’s
norms including contract laws, regulatory laws, personal laws
etc.
 To balance the damage done by the victim against the person
and society in general.
 For administration of justice.
Business Law
 Definition of Business Law
Business Law encompasses all of the laws that dictate how to form and
run a business. This includes all of the laws that govern how to start,
buy, manage and close or sell any type of business. These laws
establish the rules that a business man should follow. A savvy
businessperson will be generally familiar with business laws and know
when to seek the advice of a professional lawyer. Business law
includes state and federal laws, as well as administrative regulations.
 Sources of Business Law
 English Mercantile Law
 Pakistani Laws
 Judicial Decisions
 Customs and Usages
 Business Law

• Law of Contract

• Law of sale of Goods

• Law of Negotiable Instrument

• Labour Law
 Law of Contract
 The Contract Act 1872
 Contractlaw concerns the rights and duties that arise from
agreements.
 Offer and acceptance.
  Consideration. 
 Certainty of agreement. 
 Intention to create legal relations.
 Law of sale of Goods
 Sale of goods Act 1930
 The law of sale of goods provides such guidelines and
liabilities for the safety and security of the consumers.
 Define and amend the law relating to the sale of goods
 Law of Negotiable Instrument
 The Negotiable Instrument Act, 1881 
 A signed document that promises a sum of payment to a
specified person or the assignee.
 Promissory Notes,
 Bills of Exchange
 Cheque.
 Labour Law
 Industrial relations Ordinance, 2002
 Industrial and commercial Employment(Standing Orders)
Ordinance, 1968
 Wages Act 1936
 Workmen’s Compensation Act, 1923
 Factories Act, 1934
Question & Answer secession