Course Content
The Indian Contract Act, 1872
This section covers how agreements become enforceable contracts and the conditions for validity. Key Topics: Offer, acceptance, and consideration Capacity (minors, unsound mind) Free consent vs. coercion, fraud, undue influence Discharge of contracts and remedies for breach Understanding these essentials helps you: Recognize when a contract is legally binding Protect your interests in any commercial or personal deal Assess potential legal issues around performance and enforcement It’s the backbone of business law, ensuring smooth transactions and clear liability allocation when disputes arise.
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Introduction to Indian Contract Act, 1872
Offer and Acceptance
Consideration
Capacity to Contract
Free Consent
Legality of Object and Consideration
Performance of Contract and Discharge
Breach of Contract & Remedies
The Sale of Goods Act, 1930
This section explains the sale and purchase of goods in business. Key Topics: Distinction between “sale” and “agreement to sell” Types of goods (existing, future, contingent) Conditions vs. warranties and their legal impact Transfer of ownership and risk Why it matters: Clarifies rights and obligations in commercial trades Helps you handle contract breaches (e.g., defective goods) Explains the “unpaid seller” remedies, crucial in preventing losses By studying these rules, you’ll master everyday trade essentials and safeguard contractual interests.
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Formation of Contract of Sale
Conditions and Warranties
Transfer of Property and Risk
Unpaid Seller
The Indian Partnership Act, 1932
This section introduces partnerships—a common business setup. Key Topics: Definition, formation, and registration of partnership Partners’ rights, duties, and liabilities Implied authority and joint/several liability Dissolution of partnership and settlement of accounts Importance: Offers insight into how partners operate jointly yet share legal responsibility Ensures you’re aware of potential pitfalls in profit/loss sharing Helps resolve disputes with clarity on dissolution procedures Partnership law fosters effective teamwork and fair profit distribution among partners.
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General Nature of Partnership
Relations of Partners
Dissolution of Partnership Firm
The Limited Liability Partnership Act, 2008
This section focuses on LLPs, combining partnership flexibility with limited liability. Key Topics: LLP incorporation and agreement Role of designated partners and compliance duties Management structure and partner changes Winding up and dissolution Why it’s relevant: Limits personal liability while allowing operational freedom Simplifies statutory requirements compared to companies Appeals to professionals, small businesses, and startups LLPs demonstrate how modern business law adapts to evolving entrepreneurial needs.
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Introduction to LLP
Functioning & Management of LLP
The Companies Act, 2013 (Basic Concepts)
Here, you’ll explore how companies differ from partnerships and LLPs. Key Topics: Company formation, MOA, AOA, and incorporation Types of companies (private, public, OPC) Directors, shareholders, and governance essentials Meetings, resolutions, and basic winding-up procedures Significance: Explains limited liability, perpetual succession, and separate legal entity Outlines corporate structure and regulatory framework Reinforces why robust compliance supports investor confidence Mastering these concepts prepares you for understanding and participating in corporate operations.
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Introduction to Company Law
Basic Structure of Company Management
Winding Up & Closure (Overview)
Business Law for CA Foundation
About Lesson

Concept of Consideration

  • Definition & Meaning
  • Legal Rules regarding Consideration
  • Exceptions to the Rule “No Consideration, No Contract”
  • End-of-Topic Questions

 

Privity of Contract

  • Privity of Contract and Exceptions
  • Its Relevance in Indian Law
  • End-of-Topic Questions
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