BBS Third Year Business Law Full Syllable

MGT 204 Business Law
Lecture Hours: 150 Full Marks: 100
Pass Marks: 35
Course Objectives:

This course provides students with a comprehensive understanding of the fundamental principles of business law essential for effective business management. It covers a wide range of legal topics relevant to business operations, including the introduction to law and business law, the general law of contract, and the laws governing agency, bailment, and the sale of goods. Students will explore the legal framework related to contracts of carriage, negotiable instruments, company law, and insolvency. The course also introduces the concepts of arbitration, indemnity, and guarantee, with a focus on the legal provisions applicable in the context of Nepal. Through this course, students will develop the ability to apply legal concepts in real-world business situations, enhancing their decision-making skills and legal awareness in a corporate setting.

Unit No.	Title	Lecture Hours (LH)	Contents
1	Introduction to Law and Business Law	8	– Nature and characteristics of law – Types and sources of law – Meaning, characteristics, and sources of Nepalese business law
2	General Law of Contract	44	– Meaning, nature, and definition of contract – Essential elements of a valid contract – Offer and acceptance (rules, revocation, communication) – Contractual capacity (minor, unsound mind) – Consideration (rules and exceptions) – Free consent (coercion, undue influence, fraud, misrepresentation, mistake) – Legality of object and consideration – Unlawful and void agreements – Contingent and quasi contracts – Performance of contract – Termination and breach of contract (types and remedies) – Major provisions of Nepal Contract Act – Conceptual capacity and rules regarding disqualified persons
3	Bailment	16	– Meaning of bailment – Rights and duties of bailor and bailee – Finder of lost goods – Pledge or pawn – Bailment vs. pledge – Rights and duties of pawner and pawnee – Pledge by non-owner
4	Contract of Agency	12	– Meaning and general rules of agency – Modes of creating agency – Types of agents – Rights and duties of agents and principals – Delegation of authority – Sub-agent and substituted agent – Termination of agency – Registration and effect of non-registration of agency in Nepal
5	Contract of Sale of Goods	12	– Meaning and features – Sale vs. agreement to sell – Implied conditions, warranties, and caveat emptor – Transfer of ownership and title – Rights and duties of unpaid seller
6	Contract of Carriage	10	– Meaning and nature – Common vs. private carrier – Rights, duties, liabilities of common carrier – Carriage by land, sea (charter party, bill of lading), and air – Intro to Incoterms 2010
7	Law of Negotiable Instruments	6	– Meaning and features – Promissory notes, bills of exchange, cheques – Holder and holder in due course – Discharge of negotiable instruments
8	Law of Company and Insolvency	18	– Meaning, nature, incorporation of company – Insolvency (meaning and procedure) – Meetings, minutes, resolutions – Board report, auditor appointment and removal – Investigation, reorganization, liquidation – Powers and roles of liquidator – Features of Nepal Insolvency Act, 2003
9	Arbitration	12	– Meaning, features, significance – Appointment, powers, and functions of arbitrators – Disputes handled by arbitration – Revocation and procedures – Arbitration award – Nepal Arbitration Act (major provisions)
10	Indemnity and Guarantee	12	– Contract of indemnity (rights and duties of indemnifier and indemnity holder) – Contract of guarantee (meaning, types) – Indemnity vs. guarantee – Rights, duties, liabilities of surety – Discharge of surety from liability