Business Law
Course Title: Business Law
Code: MGT 141
Area of Study: Core
Credit Hour: 3
Course Objective:
The course intends to familiarize students with the business related laws required for managing business
operations effectively and successfully.
Course Content:
Unit I: INTRODUCTION 4 LH
Meaning and nature of law; Meaning and scope of business law; Sources of business law; Development of
Nepalese business law
Unit II: LAW OF CONTRACT 20 LH
Meaning and definition of contract; Essential requirements of a valid contract, Classification of contract, Brief
introduction of Nepalese Karar Ain 2056;
The proposal of offer and acceptance: Meaning and types of offer, Legal rules regarding offer,
Communication and revocation of offer, Meaning of acceptance, Legal rules regarding a valid acceptance,
Communication and revocation of acceptance
Consideration: Meaning, Definition and types of consideration, Essentials of a valid consideration, Contracts
without consideration
Parties competent to contract: Meaning, Minor and the law regarding minor’s agreement, Persons of unsound
mind, Disqualified persons
Legality of object and consideration: Meaning and importance, Unlawful agreements, Agreements opposed to
public policy, Void and illegal agreements
PURBANCHAL UNIVERSITY, Faculty of Management
Bachelor of Business Administration
2012
47
Quasi-contracts: Meaning of quasi-contract, Rules regarding quasi-contract, Quasi-contract Vs Contingent
contract
Performance of contracts: Meaning of performance of contracts, Rules as to the performance of contracts,
Assignment of contracts, Rules regarding assignment of contracts
Discharge of contracts: Meaning and modes of discharge of contract, Remedies for breach of contract.
Unit III: CONTRACT OF BAILMENT AND PLEDGE OF PAWN 6 LH
Meaning, definition and kinds of Bailment, Rights and Duties of Bailor, Rights and Duties of Bailee,
Termination of Bailment, Meaning of pledge or pawn, Advantages of pledge, Pledge by Non-owners, Rights
and Duties of pledge, Rights and obligations of pledgor; Bailment Vs Pledge
Unit IV: INDEMNITY AND GUARANTEE 5 LH
Meaning and features of Indemnity, Rights and Duties of Indemnity holder, Rights and Duties or liabilities of
indemnifier, Meaning and features of guarantee, Types of guarantee, Differences between contract of indemnity
and guarantee
Unit V: CARRIERS AND CARRIAGE OF GOODS 4 LH
Contract of carriage, Classification of carriers, Rights, duties and liabilities of a common carrier, Meaning and
Forms of a contract of affreightment;
Unit VI: LAWS OF ARBITRATION 5 LH
Meaning and definition of Arbitration, Essentials of a valid arbitration, Importance of Arbitration, Meaning of
Arbitrator, Procedure to appoint Arbitrator, Duties of Arbitrator, Removal of Arbitrator or umpire, Meaning of
Award, Essential elements of a valid Award
Unit VII: CONTRACT OF SALE OF GOODS 4 LH
Meaning and definition of contract of sale, Essentials of a contract of sale, Kinds of goods, Meaning and
definition of Condition and Warranty, Express and implied Condition and Warranty, Rights and Duties of
unpaid seller.
References:
Shrestha Ram Prasad ‘Nirajan’, Business Law
PURBANCHAL UNIVERSITY, Faculty of Management
Bachelor of Business Administration
2012
48
Shukla M.C.,(1996) , A Manual of Mercantile Law, S Chand and company Ltd, New Delhi
Nepal Karar Ain,2056,Law Book Management, Nepal
Dr Das Hari Hara, Principles of International Law and organization, Vikash Publishing House PVT.LTD,
New Delhi
Kuchhal M.C., Business Law, Vikash Publishing House PVT.LTD., New Delhi