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. This 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, students should be able to apply ethical issues and laws covered to selected busines decision making situations. Business law consists of many different areas taught in law school and business school curricula, including: Contracts,the law of Corporations and the Business Organizations, Securities Law,Intelletual Property,AntiTrust, Secured Transactions,Commercial Paper,Income Tax,Pensions & Benefits, Trusts & Estates,Immigration Law,Labor Law, Employement Law and Bankruptcy. Its a branch of law that examines topics that impact the operation of a business.

Outcomes/Objective:

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. Mulla
10. Negotiable Instruments Act
11. The Partnership Act

Recomended Texts: 

1: Khalid.M.C(2020).Business Law.(2nd ed.)

Suggested Reading:

1: Saeed k.(2020). Mercantile and Industrial Law in Pakistan.(2nd ed.)

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

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

TIME TABLE:

Monday: 12:30PM to 02:00PM

Tuesday: 02:00PM to 03:30PM