The knowledge of Business Law has become vital and important due to rapid development of corporate sector in particular and business in general. The broad objectives of the Companies Ordinance, 1984 as laid down in its preamble facilitate for the development of the economy. Its provisions allow for setting up of new businesses and investment but also provide protection to actors thus promoting economic activity. Each session outlines a comprehensive look at the relevant law that governs business activities.

DESCRIPTION& OBJECTIVES

The course introduces the ethics and legal framework of business. Emphasis is on contracts, negotiable instruments, uniform commercial code, and the working of the court systems. Upon completion, student should able to apply, ethical issue and laws covered to selected business decision making situations.

                                              INTENDED LEARNING OUTCOMES

After successful completion of this course, the students will be able to:

• Identify the source of law and describe their effects.
• Describe the court system and court procedure.
• Describe the nature and classes of contract.
• Identify the elements needed to create a contract.
• Read and interpret contracts and cases.
• Discuss the effects of following upon contracts. (Fraud, misrepresentation, mistake, undue influence, coercion)
• Identify and discuss illegal agreements.
• Identify personal property and bailment.

READINGS

1. Bare Act of Contract Act, 1872
2. Chitti on Contract
3. Law of Contract by Cheshire, Fifoot and Furmston
4. Principles of the English law of Contract by Sir William R.Anson
5. Introduction to the law of Contract by Atiyah P.S
6. Law of contract by Treitel, G.H
7. Casebook on the Law of Contract by Smith and Thomas
8. Contract Act by Shaukat Mahmood
9. Contract Act by  D.F. Mullah

CONTENTS

• Law of contract:

• Essential of valid contract
• Performance of contract
• Discharge of contract

• The law of sales of goods:

• Right of unpaid seller against the goods,
• Sale by auction

• Breach of contract

• Law governing partnership:

• Types of partnership,
• Essential elements of partnership
• Registration of partnership firms,
• Partnership becoming illegal,
• Partnership agreement
• Personal profit earned by partnership,
• Implied authority of a partnership
• Dissolution of partnership

• The law of negotiable instruments

• Notes,
• Bills and cheques,
• Parties to instruments negotiation,
• Endorsement,
• Liabilities of parties
• Payment discharge from liabilities,
• Dishonor or instrument,
• Notice and protesting
• Acceptance and payment for honor,

• Factories act

• Industrial relation ordinances and payment of wages act

  RESEARCH PROJECT

   

  Each candidate will be assigned to write an assignment on the topic given by the tutor. The assignment will carry five marks.

   

   

  ASSESSMENT CRITERIA

   

  Mid Exam:       30

  Final Exam:      50

  Twenty sessional marks will be assessed according to the following criteria.

   

  Assignment =              05

  Presentation=              05

  Class Participation=    05

  Class Attendance=      05

  Total                            20

TIMETABLE

• BCOM SEMESTER 3RD REGULAR

TUESDAY    1100 AM TO 1230 PM

WEDNESDAY   0800 AM TO 0930 AM

• BCOM SEMESTER 3RD SELFSUPPORT

TUESDAY     0330 PM TO 0500 PM

WEDNESDAY   1230 TO 0200 PM

• BBA SEMESTER 5TH REGULAR

TUESDAY      0930AM TO 1100AM

FRIDAY          1100AM TO 1230PM