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Business law

From Wikipedia, the free encyclopedia

Business law consists of many different areas taught in law school and business school curricula, including: Contracts, the law of Corporations and other Business Organizations, Securities Law, Intellectual Property, Antitrust, Secured Transactions, Commercial Paper, Income Tax, Pensions & Benefits, Trusts & Estates, Immigration Law, Labor Law, Employment Law and Bankruptcy. It is a branch of law that examines topics that impact the operation of a business.

Description of the Examination

The Introductory Business Law examination covers material that is usually taught in an introductory one-semester college course in the subject. The examination places not only major emphasis on understanding the functions of contracts in American business law, but it also includes questions on the history and sources of American law, legal systems and procedures, agency and employment, sales, and other topics.

The examination contains approximately 100 questions to be answered in 90 minutes. Some of these are pretest questions that will not be scored. Any time candidates spend on tutorials or providing personal information is in addition to the actual testing time.

Introduction to Legal System, State, Rule of Law & Framework of Business Laws

If we are to live with others, we must have a way to resolve the inevitable disputes. Perhaps we also need to have a code to provide a framework for our relations with others. We need to be able to create Contracts those are enforceable over long time periods. So if we are to design the institutions for a free Society, we must include a legal system in our deliberations.

Although our primary purpose is to create proposals for the future, we may get some ideas or, at least, some inspirations, from studying the history of legal systems. Perhaps we can avoid some of the mistakes that have already been made. ...

Law of Contracts

The principles of law of contracts are creature of English courts. The law of contracts consisting of limiting principles subject to which the law will uphold. The parties to a contract, in a sense, make the law for themselves. So long as they do not infringe some legal provisions, they can make what rules they like in respect of the subject matter of their agreement and the law will

give effect to their decisions. Indian contract Act is the Act which regulates the entire arena of business world which does its business on the basis of contract.....

Law Relating to Companies

There is no clear definition for the term Company in the Companies Act, 1956. However according to sec (i) Company means a company formed and registered under the Companies Act. When the law fails to provide clear definition, it seeks the opinion of the court. In the famous case Solomon v Solomon and co it is stated that a company is a legal person or legal entity separate from and capable or surviving beyond the lives of its share holders or members. The Companies Act, 1956 consists of 658 sections and 15 schedules dealing in various aspects of company commencing from registeration to various functions and winding up. The Companies Act, 1956 is dealing in substantive and procedural aspects of the company...

Law Relating to Taxation

India has s well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies taxes on income (except tax on agricultural income, which the State Governments can levy), customs duties, central excise and service tax. Value Added Tax (VAT), (Sales tax in States where VAT is not yet in force), stamp duty, State Excise, land revenue and tax on professions are levied by the State Governments. Local bodies are empowered to levy tax on properties, octroi and for utilities like water supply, drainage etc. Since April 01, 2005, most of the State Governments in India have replaced sales tax with VAT...

Law of Intellectual Property Rights

The laws relating to intellectual property rights have assumed great significance in the present millennium on account of global economy faster travel by supersonic aero planes and rapid means of satellite communications. The Patents Act, 1970 (Act No.39 of 1970) Is a comprehensive legislation to amend and consolidate the existing law on patents and designs. Any new and useful invention comprising of art, process, method or manner of manufacture, machine, apparatus or other article and a substance produced by manufacturer are regulated by this Act and the rules made there under. The earlier law on the Trade marks was insufficient and outdated and so the present enactment, the Trade Mark Act, 1999 (Act No.17 of 1999) was brought on the statue book. The Act provides for the procedure of registration of trademarks of the goods and services, its protection and prevention of fraudulent marks. The Act is comprehensive and complete Code on the subject. ...

Law of Sale of Goods & Consumer Protection

With the emergence of the welfare state concepts and industrial revolution in almost all countries for raising standard of common man, consumer protection has assumed great importance in modern jurisprudence. Modern life has increased the dependence of human

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