Course Outline Corporate Law

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Comsats Institute of Information & Technology
Course Out Line Subject: Corporate Law/Business Law BBA Resource Person-Rehan Aziz Shervani

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Content Introduction to law-Austinien’s definition of law-Aristotle’s definition of law-Classical definition of law- Latin maxim ’Salus est populi suprema lex’. Advantages & disadvantages of law-Concept of justiceEnactment and implementation of law in Pakistan. Introduction to The Contract Act 1872Definition of contract [Section 2 (h)]Definition of agreement [Section 2(b)]Definition of promise [Section 2 (a)]Section 10 & 11-Essentials of a valid Contract-Kinds of contract-Difference between void and void-able contract Practical exposure: specimen of contract Definition of offer and its essentialsDefinition of acceptance and its essentials Communication of offer and acceptanceTermination of offer and acceptance. Definition of consideration and its essentials-Exceptions to the rule, ‘No bilateral consideration no contract’Unlawful object and consideration Contractual capacity of: minor, unsound mind person & person disqualified by law Free consent-Coercion-Misrepresentation – Fraud-Undue influence-Mistake Performance of contract Void agreements [Section 2 (g)] Contingent contract Quasi or Constructive contract-Rights and duties of finder of lost goodsContract of Agency Contracts which need not to be performed or Doctrine of frustration of contract Discharge of contract

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Remedies for beach of contract Contract of bailment Pledge or pawn The Sale of Goods Act 1930—Definition of contract of sale-Difference between sale and agreement to sell-rights of unpaid sellerKinds of sale- Condition and warrantyDoctrine of Caveat Emptor-transfer of ownership in the goods-the maxim ‘Nemo Dat Quod Non Habet’ (No one can transfer better title than that he himself has)-Rules of auction sale. The Partnership Act 1932-Definition of Partnership (Section 4)-EssentialsComparative study of sole proprietorship, firm and company. Kinds of partners-Kinds of Partnership firm. Implied authority of partner-Settlement of disputes-registration of firm-Revised partnership-Dissolution of firm. The Negotiable Instrument Act 1881Definition of: promissory note. Bill of Exchange & Cheque-Payment in due course-Holder & holder in due course. Carriage of goods by land Definition of company-Limited LiabilityPractical exposure of Memorandum of Association and Articles of AssociationConcepts of ultra vires and intra viresIntroduction to Securities & Exchange Commission of Pakistan-Formation of Private Limited Company-Role of AuditorMeetings etc.

Resource Person: Rehan Aziz Shervani (LLM) Recommended book: 99 Lectures on Business Law. Face Book: Rehan Shervani

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