MGT 204 Business Law
Lecture Hours: 150 Full Marks: 100
Pass Marks: 35
This course aims to enhance students understanding of the basic business laws required for effective management of business operations.
This course contain; Introduction to law and business law, General law of contract, Contract of agency,
Bailment, Contract of sale of goods, Contract of carriage, Law of company and insolvency, Arbitration,
Unit 1: Introduction to Law and Business Law LH 8
Nature and characteristic of law
Types and sources of law
Meaning and characteristic and source of Nepalese business law
Unit 2: General Law of Contract LH 44
Meaning, Nature and definition of contract, Essential elements of valid contract,
Meaning and Rules regarding offer, Revocation/ lapse of offer, Meaning and rules regarding acceptance, communication of offer and acceptance
Meaning of contractual capacity, Legal effects of agreements made with an incompetent party (the minor and the person of unsound mind)
Meaning and Rules regarding consideration, Exceptions to the general rule 'No consideration no contract.
Concept and importance of free consent, Meaning, and legal effects of contract caused by: Coercion, Undue influence, Misrepresentation, Fraud, Mistake
Concept and importance of legality of objective and consideration, Conditions of unlawful agreement and void agreement.
Meaning and definition of contingent contract, Rule regarding contingent contract
Meaning and definition of quasi contract, Cases of quasi contract.
Meaning and nature of performance of contract, Responsible person for contract, Rules regarding performance of contract
Meaning of termination of contract, Modes of termination of contract.
Meaning and types of breach of contract, Remedies for breach of contract. Major provision of Nepal contract.
Conceptual capacity, rules regarding minor's agreement, person of unsound mind demanding contract and performance of contract, Importance of performance of and disqualified persons
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