Business Law  
Published by Vijay Nicole Imprints Private Limited
Publication Date:  Available in all formats
ISBN: 9789393161253

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This book is designed primarily to cater to the requirements of undergraduate students of commerce and management. It deals with contemporary topics like Provisions of the General Principles of Law of Contracts, Special Kinds of Contracts and Sales of Goods Act, 1930. Relevant case laws are cited at the appropriate places. Live examples and illustrations are given for easy understanding.

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This book is designed primarily to cater to the requirements of undergraduate students of commerce and management. It deals with contemporary topics like Provisions of the General Principles of Law of Contracts, Special Kinds of Contracts and Sales of Goods Act, 1930. Relevant case laws are cited at the appropriate places. Live examples and illustrations are given for easy understanding.

Table of contents
  • Cover
  • Halftitle Page
  • Title Page
  • Copyright Page
  • Dedication
  • Contents
  • Preface
  • Chapter 1 Nature and Formation of Contract
  • Introduction
  • Key Definitions Used in the Indian Contract Act
  • Nature of Contract
  • Elements of Contracts
  • Classification of Contracts
  • On the Basis of Validity/Enforceability
  • On the Basis of Formation/Creation
  • On the Basis of Performance/Execution
  • English Law
  • Exercise
  • Chapter 2 Offer and Acceptance
  • Introduction
  • Proposal
  • Express Offer and Implied Offer
  • Specific or General Offer
  • Essential Requirements of a Valid Offer
  • Revocation of Offer
  • Cross Offers
  • Counter Offer
  • Tenders
  • Acceptance
  • Essentials of a Valid Acceptance
  • Effect of Silence on Acceptance
  • Agreement to Agree in Future
  • Counter Offer is not an Acceptance
  • Communication of Offer, Acceptance and Revocation
  • Revocation of Proposal and Acceptance
  • Termination of Offer
  • Revocation or Lapse of Offer-Sec. 6
  • Offer and Acceptance by Post
  • Contracts over Telephone or Telex
  • Exercise
  • Chapter 3 Consideration
  • Introduction
  • Definition
  • Types of Consideration
  • Essentials of Consideration
  • Privity of Contract
  • Exceptions
  • No Consideration - No Contract
  • Exceptions
  • Exercise
  • Chapter 4 Capacity of Parties
  • Introduction
  • Definition
  • Minors
  • Minors in Indian Law
  • Legal Decisions Constituting Necessities
  • Liability of the Minor for Torts and Crimes
  • Persons of Unsound Mind
  • Idiocy
  • Lunacy
  • Drunken Persons
  • Disqualified Persons
  • Aliens
  • Foreign Sovereigns
  • Statutory Corporations
  • Married Women
  • Insolvent Person
  • Professionals
  • Exercise
  • Chapter 5 Free Consent
  • Introduction
  • When is Consent said to be Free?
  • Coercion
  • Essentials of Coercion
  • Burden of Proof
  • Duress
  • Effect of Coercion
  • Undue Influence
  • Essentials of Undue Influence
  • Undue Influence-Consequences
  • Defences Available against Undue Influence
  • Pardanashin Women
  • Fraud
  • Elements of Fraud
  • Mere Silence is not Fraud
  • Fraud-Consequences
  • Misrepresentation
  • Essentials of Misrepresentation
  • Consequences of Misrepresentation
  • Mistake
  • Mistake of Law
  • Mistake of Fact
  • Exercise
  • Chapter 6 Legality of Object and Consideration
  • Introduction
  • Definition
  • Agreements against Public Policy
  • Exercise
  • Chapter 7 Void Agreements
  • Introduction
  • Classification of Unlawful Agreements
  • Agreements in Restraint of Trade
  • Agreements in Restraint of Legal Proceedings
  • Uncertain Agreements
  • Wagering Agreements
  • Essentials of Wagering Agreements
  • Effects of Wagering Agreements
  • Exceptions
  • Agreements Contingent on Impossible Events [Sec. 36]
  • Agreement to Agree in Future
  • Illegal Agreement
  • Exercise
  • Chapter 8 Contingent and Quasi-Contracts
  • Definition
  • Essentials of Contingent Contracts
  • Rules Regarding Enforcement of Contingent Contracts [Secs. 32 to 36]
  • Quasi-Contracts
  • Quantum Meruit
  • Exercise
  • Chapter 9 Performance of Contracts
  • Introduction
  • Tender
  • Essentials of a Valid Tender Performance
  • By Whom must the Contracts be Performed?
  • Performance of Reciprocal Promise [Secs. 51-54 and 57]
  • Time, Place and Manner of Performance [Secs. 46-50 and 55]
  • Assignment of Contracts
  • Contracts which Need Not be Performed
  • Who can Demand Performance?
  • Appropriation of Payments
  • Rule in the Hallett's Estate Case
  • Exercise
  • Chapter 10 Modes of Discharge of Contracts
  • Introduction
  • Discharge By Performance
  • Tender
  • Discharge by Mutual Consent [Sec. 62]
  • Novation
  • Rescission
  • Alteration
  • Remission
  • Waiver
  • Merger
  • Discharge by Impossibility of Performance
  • Impossibility at the Time of Contract
  • Subsequent or Supervening Impossibility
  • Exceptions
  • The Doctrine of Frustration
  • Effects of Supervening Impossibility
  • Discharge by Lapse of Time
  • Discharge by Operation of Law
  • Discharge by Breach of Contract
  • Actual Breach of Contract
  • Anticipatory Breach of Contract
  • Termination by Material Alteration
  • Exercise
  • Chapter 11 Remedies for Breach of Contract
  • Introduction
  • Cancellation or Rescission
  • Restitution
  • Specific Performance
  • Injunction
  • Damages
  • General or Compensatory Damages
  • Special Damages
  • Nominal Damages
  • Exemplary or Vindictive Damages
  • Rules Regarding the Amount of Damages
  • Difficulty in Calculating Damages
  • Liquidated Damages and Penalty
  • Conditions Regarding Payment of Interest
  • Quantum Meruit
  • Contract not Enforceable
  • Exercise
  • Chapter 12 Indemnity and Guarantee
  • Introduction
  • Contract of Indemnity
  • Contract of Guarantee
  • Extent of Surety's Liability
  • Kinds of Guarantee
  • Specific Guarantee
  • Continuing Guarantee
  • Rights of Surety
  • Rights against Creditor
  • Rights against Principal Debtor
  • Rights against Co-sureties
  • Discharge of Surety
  • Discharge of Surety by Revocation
  • Discharge of Surety by the Conduct of Creditor
  • Discharge of Surety by Invalidation of Contract
  • Exercise
  • Chapter 13 Bailment and Pledge
  • Introduction
  • Definition of Bailment
  • Requisites of Bailment
  • Does Deposit of Money Constitute Bailment?
  • Bailment and Sale
  • Bailment and Hire-purchase
  • Classification of Bailments
  • On the Basis of Charge
  • On the Basis of Benefits
  • Duties and Rights of Bailor and Bailee
  • Duties of Bailor
  • Duties of Bailee
  • Rights of Bailor
  • Rights of Bailee
  • Termination of Bailment
  • Lien
  • Pledge
  • Rights of Pawnor
  • Rights of Pawnee
  • Duties of Pawnor
  • Duties of Pawnee
  • Finder of Goods
  • Duties of Finder of Goods
  • Rights of Finder of Goods
  • Pledge by Non-owners
  • Carrier of Goods
  • Meaning of Charge
  • Meaning of Mortgage
  • Sale Vs. Mortgage, Pledge and Hypothecation
  • Chapter 14 Law of Agency
  • Introduction
  • Contract of Agency-Special Features
  • General Rules Regarding Agency
  • Classification of Agents
  • Creation of Agency
  • Liabilities of the Principal towards Third Parties
  • Named Principal/Disclosed Principal
  • Unnamed Principal
  • Undisclosed Principal
  • Revocation/Renunciation
  • Termination of Agent's Authority as to Third Persons
  • Duties of Principal
  • Rights of Principal
  • Duties of Agent
  • Rights of Agent
  • Delegation of Authority of Agent
  • Exceptions to the General Rule [Sec. 190]
  • Effects of Delegation of Authority
  • Personal Liability of an Agent
  • Termination of Agency
  • By the Act of the Parties
  • By Operation of Law
  • Effects of Termination
  • Irrevocable Agency
  • Exercise
  • Chapter 15 Formation of Contracts under the Sale of Goods Act, 1930
  • Introduction
  • Contract of Sale
  • Sale
  • Elements of Contract of Sale
  • Distinction between Sale and Agreement to Sell
  • Sale and Hire-purchase Agreement
  • Essentials of Hire-purchase Agreement
  • Meaning of Goods-Sec. 2 (7)
  • Documents of Title to Goods [Sec. 2 (4)]
  • Classification of Goods
  • Price of Goods
  • Modes of Fixing the Price
  • Earnest Money
  • Conditions and Warranties
  • Stipulations as to Time
  • Condition and Warranty [Sec. 12]
  • Distinction between Condition and Warranty
  • Circumstances when a Condition can be Treated as Warranty
  • Implied Conditions and Warranties [Sec. 14-17]
  • Implied Warranties as to the Title and Possession [Sec. 14]
  • Implied Conditions as to the Description [Sec. 15]
  • Implied Conditions as to Quality or Fitness (Caveat Emptor) [Sec. 16]
  • The Exceptions to the Doctrine
  • Implied Condition as to the Mercantile Quality [Sec. 16(2)]
  • Usage of Trade [Sec. 16 (3)]
  • Sale by Sample [Sec. 17 (1)]
  • Exercise
  • Chapter 16 Transfer of Property and Rights of an Unpaid Seller
  • Introduction
  • Transfer of Title by Non-owners [Secs. 27-30]
  • General Rule as to Transfer of Title [Sec. 27]
  • Exceptions to the Rule
  • Performance of the Contract
  • Rules Regarding Delivery of Goods
  • Rights of the Buyer
  • Acceptance
  • Rights of an Unpaid Seller
  • Rights of an Unpaid Seller against Goods [Sec. 46]
  • Rights of Unpaid Seller against the Buyer Personally
  • Auction Sale
  • Chapter 17 Value Added Tax
  • Meaning of VAT
  • Objectives of VAT
  • How does VAT work?
  • Levy of VAT and Types of VAT
  • Methods of computation of VAT
  • Benefits to Government
  • Traders
  • Consumers
  • Problems of VAT
  • Meaning of Cost Cascade
  • Advantages of VAT
  • Disadvantages of VAT
  • Exercise
  • Chapter 18 Insurance
  • Introduction
  • The Insurance Act, 1938
  • Life Insurance Corporation Act, 1956
  • General Insurance Business(Nationalisation) Act, 1972
  • Insurance Regulatory and Development Authority (IRDA) Act, 1999
  • Meaning of Insurance
  • Important Definitions
  • Functions of Insurance
  • Duties of the Insurers
  • Rights of Insurers
  • Principles of Insurance
  • Types of Insurance
  • Life Insurance
  • General Insurance
  • Exercise
  • Chapter 19 Consumer Protection Act
  • Introduction
  • Significance of the Consumer Protection Act
  • Rights of Consumers
  • Important Definitions
  • Judicial Decisions
Biographical note

Dr. V. Balachandran is presently working as Registrar - in - charge of Alagappa University, Karaikudi. He is Professor of Corporate Secretaryship and Dean (SA) and Formerly Director of Distance Education, Alagappa University. He is a Fellow Member of the Institute of Company Secretaries of India, New Delhi. He has over 30 years of P.G. teaching experience and 25 years of Research Experience. He has guided 23 Ph.D. and 55 M.Phil candidates. He has authored/ co - authored 12 books pertaining to Indirect Taxation, Corporate Governance, Ethics and Social Responsibility, Office Management, Legal Aspects of Business, Economic and Other Legislations ( Corporate Laws), Company Secretarial Practice, Business Law, Taxation Law and Practice and Business Taxation. He has published over 300 articles/research papers and has been on editorial board for 10 national and online international journals. He has completed several projects funded by UGC and ICSI. He has received many awards from prestigious institutions for his contributions in the educational arena. He has been a co-ordinator for UGC's Innovative Programme "PGDVAT and Service Tax" from 2012 - 2015.

Dr. S. Thothadri is Assistant Professor in Corporate Secretaryship. He holds a doctorate in Corporate Secretaryship. He has co-authored books on Business Law and Legal Aspect of Business and has published several articles on various topics like HR, E-Commerce and Information Technology in reputed journals. He has over 13 years of teaching experience and his areas of interest include Accounting, Finance, Law and Taxation.

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