LEGAL AND BUSINESS ENVIRONMENT MBADS1- 221

LEGAL AND BUSINESS ENVIRONMENT
Subject Code – MBADS1- 221 L T P C Duration: 60 Hrs
4 0 0 4
Course Objectives
The aim of this subject is:
1. To study Law of Contract, Sale of Goods Act and Negotiable Instrument for legally smooth functioning of a business.
2. To highlight about Company Law as well as constitutional framework of taxation.
3. To provide insights about Business Environment, Complexity and Diversity of current business environment in the 21st century
4. To provide a deeper understanding of the environmental factors influencing Indian business organizations.
Course Outcomes
After successful completion of this course, students will be able to:
1. Understand the impact of legal environment in a business context and demonstrate knowledge of and need for sustainable development
2. Analyze the various facets of basic case laws of each Act from a legal and managerial perspective
3. Apply the legal provision of Acts in common business situations.
Unit I (15 Hrs.)
Law of Contract: Definition, offer and Acceptance, Consideration, Capacity of parties, Free Consent, Legality of Object, Performance and Discharge of Contract and Remedies for Breach of Contract. Sale of Goods Act: Meaning – Formation of contract, condition and warranties. Difference between Transfer of Property and Possession, Right of an Unpaid Seller, Negotiable Instrument: Types of negotiable Law of Insurance: Fundamentals Elements of Insurance.
Unit II (15 Hrs.)
Company Law Incorporation of companies Memorandum of Association and Articles of Association Membership of a company Prospectus, Issue of capital, Loans, investments, deposits and charges, Meetings, Accounts and Auditors, Amalgamation, reconstructions, arrangements and compromises Provision with respect to appointment and removal of Director, Meeting, Winding up by court. Taxation: Constitutional framework of taxation. Direct and indirect taxes. Basic features of Central excise, GST.
Unit –III (15 Hrs.)
Business Environment – Definition, components and overview of Business Environment, Need to scan the business environment and techniques of scanning the business environment. Political Environment: Three political institutions: Legislature, Executive and Judiciary. Brief note on Fundamental rights and Directive Principles of state policy, Legal Environment: Company Regulatory Legislations in India, FEMA, Latest. EXIM policy. Competition Law, Consumer Protection Act 1986, Right to Information Act 2005
Unit –IV (15 Hrs.)
Public Sector in India: Concepts, Philosophy and Objectives, Performance, Problems and Constraints. Disinvestment and Privatization, Joint sector and Cooperative sector in India.
Social Environment: Corporate Social Responsibility, Cross-Cultural Business Environment, Technological Environment: Impact of Technology on Business, Technological Policy, Intellectual Property Rights, Import of Technology, Problems in Technology Transfer.International Environment: Emergence of Globalization. Control of Foreign Direct Investment, Benefits and Problems from MNCs. WTO, its role and functions, Implications for India. Trading Blocks, Foreign Trade, Dumping and Anti-Dumping measures.
Relevant Case Studies should be discussed in class.
Recommended Books
1. Dr Francis Cherunilam, Business Environment Text & Cases, Himalaya Publishing
2. Paul Justice, Business Environment- Text and Cases, TATA McGraw Hill.
3. Aswathappa, Essential of Business Environment, Himalaya Publishing
4. Aggarwal &Diwan, Business Environment, Excel Books
5. Majumdar A. K. and Kapoor G. K. ‘Company Law’ Taxmann Publishers
6. Bansal C. L. ‘Business Laws’ Taxmann Publishers
7. Singhania V. K. and Singhania K. ‘Direct Tax Laws and Practice’ Taxmann Publishers.
8. Chawla, Garg and Sarin ‘Mercantile Law’ Kalyani Publishers.

REFERENCES:

1. https://www.toppr.com/guides/general-awareness/banking/negotiable-instruments/

2. https://www.preservearticles.com/education/what-are-the-problems-of-public-enterprises/21419

3. https://www.vedantu.com/commerce/privatisation
4. https://www.insuranceopedia.com/2/5222/the-insurance-business/the-key-elements-of-an-insurance-contract
5. https://en.wikipedia.org/wiki/Insurance_law
6. https://taxguru.in/company-law/deposit-companies-act-2013.html#:~:text=A%20company%20inviting%20secured%20deposits,of%20deposit%20and%20interest%20thereon.
7. https://www.slideshare.net/dharmender70/import-of-technology-and-technology-transfer
8. https://thunderbird.asu.edu/thought-leadership/insights/cross-cultural-business
9. https://www.cci.gov.in/sites/default/files/cci_pdf/competitionact2012.pdf
10. https://www.legalserviceindia.com/legal/article-1814-competition-law-in-india.html
11. https://www.adda247.com/teaching-jobs-exam/fundamental-rights/
12. https://josephscollege.ac.in/lms/Uploads/pdf/material/GLOBAL_BUSINESS.pdf
13. https://www.meti.go.jp/english/report/downloadfiles/gCT9905e.pdf
14. https://www.wto.org/english/tratop_e/adp_e/adp_info_e.htm
15. https://www.ddegjust.ac.in/studymaterial/mcom/mc-103.pdf
16. https://backup.pondiuni.edu.in/sites/default/files/International%20business%20environmentt200813.pdf
17. https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm7_e.htm
18. https://www.investopedia.com/terms/w/wto.asp
19. https://researchfdi.com/foreign-direct-investment-advantages-disadvantages/