Topics: Contract, Law, Contract law / Pages: 7 (1512 words) / Published: Jan 29th, 2014
Indian Institute of Management Kozhikode
( IIMK )
PGP Core Course ; Term II for PGP Batch 17 & FPM 2013 Batch

Name of the Instructors

Lionel Aranha B.Com., LLB., FCA. ; &

Sebastian Tharakan B.A. (Law)., LLB., MBL.

Number of Credits


Duration Per Session

75 minutes

‘Ignorentia Juris Non Excusat ’ One should know certain elements of law, which stand out like finger posts or danger signals. A general knowledge of some of the more important legal principles and how they apply to certain problems will certainly help a businessman in avoiding conflict with the persons with whom he comes into business contacts. Business Laws both regulate as well as facilitate the conduct of business. Therefore, the main objective of this course is to make a student of business management aware of the broad framework of business laws, which affect or govern business in India, as well as to understand both the legal impact and the legal scope of business decisions.

The course will be offered with a mix of lectures and decided cases.

BL-Session No.

BL-Session Topic

1 & 2

BL-Module No. 1 : A general overview of law : Meaning, and scope of maxim: ‘Ubi Jus, ibi remedium’ ; the concept of ‘jurisdiction of a court’ and the types of jurisdiction of a court ; Civil Law, Criminal Law and their distinctions and distinctive features ; Some basic legal concepts / principles such as: the Doctrines of Locus Standi and Public Interest litigation (PIL) ; the Law of Limitation ; The Principles of Natural Justice: (a) The Rule against Bias ; (b) The Rule of Fair Hearing ; Exceptions to the Rules of Natural Justice.

2 & 3

BL-Module No. 2 : Contract Law (Part I) : The Indian Contract Act, 1872 – the methods of wealth creation ; the Romal Law concept of contract: ‘consensus ad idem’, ‘aggregio mentium’ ; what is a contract? ; the

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