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LAB-PGP Reading Material, Oct-Dec 2014.pdf

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LEGAL ASPECTS OF BUSINESS PGP-I, Slots 3 & 4 (Sep – Dec 2014) 2014-15 Section B Prof. Anurag K. Agarwal Indian Institute of Management Ahmedabad September 2014 - 2 - Prof. Anurag K. Agarwal, IIM-A LAB-PGP-I, Sep-Dec 2014 COURSE OUTLINE Course Title: Legal Aspects of Business (PGP) Credit: 1 (20 sessions) Area:
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    LEGAL ASPECTS OF BUSINESS   PGP-I, Slots 3 & 4 (Sep  –   Dec 2014) 2014-15 Section B Prof. Anurag K. Agarwal Indian Institute of Management Ahmedabad September 2014  - 2 - Prof. Anurag K. Agarwal, IIM-A LAB-PGP-I, Sep-Dec 2014 COURSE OUTLINE Course Title: Legal Aspects of Business (PGP)   Credit: 1 (20 sessions) Area: Business Policy Term: PGP-I, Slots 3 & 4 (Sep  –   Dec 2014), 2014  –   2015  Course Objective: The course shall provide vital legal aspects to management and shall endeavour to make managers aware about the law vis-à-vis business so that the law may be used as an instrument in bringing positive change. This change shall reflect in their thought process as it will facilitate in legal thinking and encourage them in  being on the right side of law. The participants shall become informed that knowledge of law can prove to  be a potent tool and sometimes a lethal weapon in the business world. Pedagogy: Primarily case discussion. The cases will be mostly court judgments. Number of sessions: Total number of sessions is 20  Bibliography: Course pack comprising court judgments and other legal text. Legal Aspects of Business, by Akhileshwar Pathak, 6 th  Edition, McGraw-Hill Evaluation Criteria:  Class Participation: 20% Quizzes: 40% End Term: 40% SESSION-WISE PLAN Module  –   I Law of Contract 1.   Offer and Acceptance Case: Mac Pherson v. Appanna,  Supreme Court of India, 1951   2.   Perfomance and Discharge of contract Case:  National Insurance Co. v. Seema Malhotra, Supreme Court of India, 2001   3.   Breach of Contract and Remedies Case: Ghaziabad Development Authority v. Union of India, Supreme Court of India, 2000 4.   Damages Case: Fateh Chand v. Balkishan Dass, Supreme Court of India, 1963 5.   Quasi-Contract and Quantum Meruit Case: Puran Lal Sah v. State of U. P., Supreme Court of India, 1971    - 3 - Prof. Anurag K. Agarwal, IIM-A LAB-PGP-I, Sep-Dec 2014 Module  –   II Special Forms of Contract 6.   Guarantee and Indemnity; Bank Guarantee Cases: Ansal Engineering v. Tehri Hydro, Supreme Court of India, 1996 State Bank of India v. Mula Sahakari Sakhar, Supreme Court of India, 2006 7.   Bailment Case: Bank of Bihar v. State of Bihar, Supreme Court of India, 1971   8.   Pledge Case: Vimal Chand Grover v. Bank of India, Supreme Court of India, 2000   9.   Sale of Goods   Case: Marwar Tent Factory v. Union of India, Supreme Court of India, 1990 10.   Nemo Dat Quod Non Habet  ;; Breach of Contract for sale of goods Cases: Morvi Mercantile Bank v. Union of India, Supreme Court of India, 1965  Gopalakrishna Pillai v. K.M. Mani, Supreme Court of India, 1984   Module  –   III Agency, Partnership and Company 11.   Agency and Partnership Cases: Southern-Roadways v. S. M. Krishnan, Supreme Court of India, 1989  Syndicate Bank v. R.S.R. Engg. Works, Supreme Court of India, 2003   12.   Forms of Business Associations, Corporate Veil Case: Subhra Mukherjee v. Bharat Coking Coal, Supreme Court of India, 2000   13.   Contd. Case: DDA v. Skipper Construction,  Supreme Court of India, 1996    14.   Administration of a Company: Meetings Case:  Nazir Hoosein v. Darayus Bhathena, Supreme Court of India, 2000 15.   Transfer of Shares Case: Bajaj Auto Ltd. v. Company Law Board, Supreme Court of India, 1998   Module  –   IV Law and Trade Practices 16.   Consumer Protection and Unfair Trade Practices Case: Jose Philip Mampillil v. Premier Automobiles, Supreme Court of India, 2004   17.   Contd. Case: Punjab University v Unit Trust of India, Supreme Court of India, 2014 18.   Business and Fundamental Rights Case: Global Energy v. Adani Exports, Supreme Court of India, 2005   19.   Competition Law Case: Shamsher Kataria v Honda Siel Cars India, Competition Commission of India, 2014 20.   Intellectual Property Rights Case: The Pomegranate Story, BP-334   - - -  - 4 - Prof. Anurag K. Agarwal, IIM-A LAB-PGP-I, Sep-Dec 2014 PREFACE After several decades of accelerating change, enterprises the world over now conduct  business on a dramatically more international scale. Producers contract with suppliers on several continents, and those producers, in turn, sell in global markets; service providers do  business through branches and offshoot companies in several parts of the world; firms increasingly look abroad for merger partners and acquisition targets; distribution, franchise, and licence networks readily span national borders. In his book “Make the Rules or Your Rivals Will” Prof. Richard G. Shell of Wharton has given a new truth about business strategy:  He who makes the rules, makes the money. What kind of rules is he talking about? The rules that executives negotiate into contracts, lobby into new laws, litigate into court decisions, and persuade bureaucrats to write into regulatory standards. Many managers run away from the rules as they are terrified of lawyers. The smartest executives, on the other hand, know that the law is far too important to leave to the lawyers. They follow the example set by legally savvy corporate leaders: “Learn the 10 percent of legal strategy that makes 90 percent of the difference in winning competitiv e battles.”  As the maxim goes, ignorantia facti excusat, ignorantia juris non-excusat, ignorance of law is no excuse, however, ignorance of fact may be excused. It is not possible for anyone to know the complete collection of laws, however, it is important or we can say without exaggerating, essential for persons involved in business and industry to be well acquainted with the basic  principles of law. It helps them to be on the right side of law, use law as a potent tool or use law as a lethal weapon. Learning of law requires an open mind; and law, in fact, can never be contained in books. The same applies to this reading material. It is a tool to train your mind, however, newer situations keep occurring in life and they are the best teachers of law. This highlights the importance of current legal scenario and different problems faced by the humanity in general and the business world in particular. We must appreciate that when we are dealing with Business Law, we are dealing with a small segment of the total spectrum of law. There are  bound to be instances of overlapping with other areas of law, which exhibit the role of law in our lives. Law is ever-changing and therefore, it is best to understand the basic principles and develop the ability to apply them in real life situations. In India, Law, and even Business Law, has generally been a study of the statutes. However, as Anson said, “Law is the last interpretation given by the last judge”, it is the case law which  provides us the real law and it has slowly but surely gained more significance during the latter

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