This comprehensive and authentic textbook offers an extensive understanding of business-related legal principles. With clear explanations, practical examples, detailed case studies, and comprehensive chapter-end resources, it is a critical tool for students aiming to excel in business law. The author’s extensive experience teaching Business Laws at Shri Ram College of Commerce has been instrumental in writing this book, ensuring it meets the highest academic and professional standards.

This book is designed for the B.Com. (Hons.)/B.Com. Core Papers BCH: DSC 1.2 & BC: DSC 1.2, this book is based on the Undergraduate Curriculum Framework (UGCF) for the University of Delhi, Non-Collegiate Women’s Education Board (NCWEB), and the School of Open Learning (SOL) of the University of Delhi. Additionally, it is a valuable resource for various universities across India and highly beneficial for students pursuing BBA, MBA, CA-Intermediate, and other professional courses.

The Present Publication is the 14^th Edition, authored by Bhushan Kumar Goyal and Dr Kinneri Jain, with the following noteworthy features:

• [Comprehensive Coverage]
  • The textbook covers all essential legal rules and principles
  • Detailed illustrations using relevant examples and court cases from both Indian and English jurisprudence make complex concepts accessible and easy to understand
• [In-Depth Court Case Explanations]
  • Each court case is explained in detail, with extensive analysis of legal precedents and applications
  • These explanations facilitate a better understanding and retention of legal principles
• [Extensive Chapter-end Resources]
  • A wide array of theoretical questions, true/false questions, and multiple-choice questions are provided at the end of each chapter
  • Practical problems are included to help students assess their understanding and apply legal principles to real-world scenarios
• [Leading Cases Summarized]
  • Summaries of leading cases are provided chapter-wise at the beginning of the book for quick reference and review
• [Incorporation of Latest Legal Provisions]
  • The book includes the latest provisions of the Insolvency and Bankruptcy Code, 2016, ensuring that students are up-to-date
• [User-Friendly Layout and Presentation]
  • Distinctions and comparisons are presented in tabular form for easy reference and understanding
• [Experienced Authorship]
  • Authored by seasoned educators with extensive experience in teaching business laws, the book reflects a deep understanding of the subject matter
  • The authors’ expertise ensures that the content is both authoritative and pedagogically sound

The detailed contents of the book are as follows:

• General Principles of the Indian Contract Act, 1872
  • Introduction
    • Provides an overview and significance of the Indian Contract Act, 1872
    • Discusses the historical background and evolution of contract law in India
  • Nature and Kinds of Contracts
    • Explains the classification of contracts based on their formation, performance, and enforceability
    • Discusses various types of contracts, including valid, void, and voidable contracts
  • Offer and Acceptance
    • Covers the rules governing the formation of a contract
    • Details the essential elements of a valid offer and acceptance, including communication, revocation, and lapse of offers
  • Consideration
    • Defines consideration and its necessity in a contract
    • Explains the legal requirements and exceptions to the rule of consideration
  • Capacity of Parties
    • Examines the legal capacity of individuals and entities to enter into a contract
    • Discusses capacity-related issues such as minors, persons of unsound mind, and disqualified persons
  • Free Consent
    • Highlights the importance of consent in contract formation
    • Analyzes factors vitiating free consent, such as coercion, undue influence, fraud, misrepresentation, and mistake
  • Legality of Object and Consideration
    • Outlines the legal requirements for a valid contract
    • Explains illegal and immoral agreements and those opposed to public policy
  • Agreements Expressly Declared Void
    • Identifies and analyzes agreements that are expressly declared void by law
  • Contingent Contracts
    • Defines and explains the nature of contingent contracts
    • Discusses the rules governing the enforcement of contingent contracts
  • Quasi Contracts or Certain Relations Resembling those created by Contract
    • Introduces the concept and legal framework of quasi-contracts
    • Describes types of quasi-contracts and their implications in law
• Discharge of Contract and Remedies for Breach
  • Discharge of Contract
    • Analyses various modes of discharging a contract, including performance, agreement, impossibility, and operation of law
    • Provides a detailed explanation of doctrines such as the frustration of contract
  • Remedies for Breach of Contract
    • Discusses legal remedies available for breach of contract, including damages, specific performance, and injunctions
    • Covers liquidated damages and penalty clauses
• Introduction to Special Contracts
  • Contracts of Indemnity and Guarantee
    • Explains the nature and scope of indemnity and guarantee contracts
    • Highlights the rights and duties of indemnifier, indemnified, surety, and principal debtor
  • Bailment and Pledge
    • Discusses the legal aspects and types of bailment
    • Outlines the rights and duties of bailor, bailee, pawnor, and pawnee
  • Agency
    • Covers principles governing the relationship of agency
    • Details the rights, duties, and liabilities of agents and principals
• Sale of Goods Act, 1930
  • Contract of Sale of Goods
    • Explains the essentials of a valid sale contract
    • Distinguishes between sale and agreement to sell
  • Conditions and Warranties
    • Differentiates between conditions and warranties
    • Describes implied conditions and warranties in a contract of sale
  • Transfer of Property
    • Outlines rules regarding the transfer of ownership and risk in goods
    • Discusses the concept of sale by non-owners
  • Performance of Contract of Sale
    • Details the obligations of buyers and sellers regarding the delivery and acceptance of goods
  • Remedies for Breach of Contract of Sale
    • Explains legal remedies available to buyers and sellers in case of breach
  • Auction Sale
    • Provides a legal framework and rules governing auction sales
• Limited Liability Partnership Act, 2008
  • Nature of Limited Liability Partnership
    • Introduces the concept, features, and advantages of LLPs
    • Compares LLPs with other forms of business organizations
  • Incorporation of Limited Liability Partnership
    • Outlines the procedure and statutory requirements for incorporating an LLP
  • Partners and Their Relations
    • Details the rights, duties, and liabilities of partners in an LLP
    • Discusses internal governance and mutual rights of partners
  • Financial Disclosures
    • Covers statutory financial reporting and disclosure requirements for LLPs
  • Conversion to LLP
    • Explains the process and legal implications of converting existing businesses into LLPs