To the Thirty-First Edition

We have great pleasure in presenting the Thirty-First Revised Edition of ‘Business Law’ as per Guru Gobind Singh Indraprastha University, Delhi, syllabus for BBA and B.Com. (Hons.) students. The new edition, like its predecessors, attempts to present the basic principles of Law in a way that makes the subject easily intelligible even to a non-specialist. This object has been achieved by dividing into IV units:

Unit I – The Indian Contract Act consists of 157 Illustrative Cases, 213 Test Questions, 326 Practical Problems (with Hints and Solutions), 174 Multiple-choice Questions, 194 True & False Questions and 644 Examples with the idea of testing the depth of knowledge of the reader, basic understanding of concepts and his ability to apply whatever he has learnt to a particular situation or problem.

Unit II – The Sale of Goods Act, 1930.

Unit III – The Companies Act, 2013 as Amended upto 2019 consists of 62 Practical Problems and 104 Test Questions with the idea of testing the depth of knowledge of the reader, basic understanding of concepts and the ability to apply whatever he has been learnt to a particular situation or problem.

Unit IV – The Negotiable Instruments Act, 1881.

The Book explodes the myth that law is a difficult and dry subject. Even a lay or general reader who wishes to know the broad principles of Business Law will find the book interesting and lively. Care has been taken to see that the reader at the primary stage of his study does not find himself lost in the quagmire of legal jargon and in the niceties of legal concepts and interpretations.

New Typography of the book makes the book strain-free and reader friendly.

Contents :

Unit I – THE INDIAN CONTRACT ACT, 1872
(General Principle of Law of Contract)
Introductory
Nature of Contract
Offer and Acceptance
Consideration
Capacity to Contract
Free Consen
Legality of Object
Void Agreements
Contingent Contracts
Performance of Contract
Discharge of Contract
Remedies for Breach of Contract
Quasi-Contracts
Indemnity and Guarantee
Bailment and Pledge
Contract of Agency
Unit II – THE SALE OF GOODS ACT, 1930
Sale of Goods
Conditions and Warranties
Transfer of Property
Performance of Contract
Rights of an Unpaid Seller
Unit III – THE COMPANIES ACT, 2013 (AMENDED UPTO 2019)
Nature of Company
Kinds of Companies
Formation of Company
Memorandum of Association
Articles of Association
Prospectus
Share Capital and Debentures
Acceptance of Deposits by Companies
Registration of Charges
Management and Administration
Declaration and Payment of Dividend
Accounts of Companies
Audit and Auditors
Appointment of Directors
Meeting of Board and its Powers
Appointment and Remuneration of Managerial Personnel
Prevention of Oppression and Mismanagement
Unit IV – THE NEGOTIABLE INSTRUMENTS ACT, 1881
Negotiable Instruments
Notes, Bills and Cheques
Parties to a Negotiable Instrument
Negotiation
Presentment of a Negotiable Instrument
Dishonour of a Negotiable Instrument
Discharge of a Negotiable Instrument
Rules of Evidence Estoppel and International Law
Hundis
Banker and Customer