Elements of Business Laws and Management

CS: Foundation Programme
Paper 2 : Elements of Business Laws and Management
[One paper: Three Hours – 100 marks]

Level of Knowledge :

Basic knowledge.

Objective . . .

(i)	To give an exposure to the students of some of the important commercial laws, the knowledge of which is essential for an understanding of the legal implications of the general activities of a modern business organisation.
(ii)	To acquaint the students with the principles of management.

Contents . . .

Part A : Elements of Business Laws (50 Marks)

1.	Law
	Meaning of law, its significance and relevance to modern civilized society; sources of law.
2.	Law relating to Contract – An Overview
	Contract - meaning; essentials of a valid contract; nature of contract; performance of contract; termination and discharge of contract; indemnity and guarantee; bailment and pledge; law of agency.
3.	Law relating to Sale of Goods — An Overview
	Essentials of a contract of sale; sale distinguished from agreement to sell ; bailment ; contract for work and labour and hire-purchase ; conditions and warranties; transfer of title by non-owners ; doctrine of caveat emptor ; performance of the contract of sale ; unpaid seller - his rights against the goods and the buyer.
4.	Law relating to Negotiable Instruments – An Overview
	Definition of a negotiable instrument; instruments negotiable by law and by custom; types of negotiable instruments; parties to a negotiable instrument - duties, rights, liabilities and discharge; material alteration; crossing of cheques; payment and collection of cheques and demand drafts; presumption of law as to negotiable instruments.
5.	Law relating to Partnership – An Overview
	Nature of partnership and certain similar organisations; co-ownership; Joint Hindu Family; partnership deed; rights and liabilities of partners including those of newly admitted partners, retiring and deceased partners; implied authority of partners and its scope; registration of firms; dissolution of firms and of the partnership.
6.	Elements of Company Law
	Meaning and nature of company; promotion and incorporation of a company; familiarisation with the concept of Board of directors, shareholders and company meetings; Company Secretary.

Part B : Elements of Management (50 Marks)

7.	Nature of Management and its Process
	Meaning; nature of management and its process; planning, organising; directing; coordination and controlling.
8.	Planning
	Policies and procedures; methods of planning; decision-making.
9.	Organising
	Structure; principles and theories of organisation; span of management; centralisation and de-centralisation; line and staff functions; delegation; functional organisation; formal and informal organisation; growth in organisation.
10.	Staffing
	Meaning; nature and functions of personnel management; selection, training and development; performance appraisal.
11.	Direction and Co-ordination
	Communication; motivation, morale and leadership; internal and external co-ordination; committees in management; management of change; organisation development (O.D.).
12.	Controlling
	Concepts and basic control process; essentials of a good control system; traditional and non-traditional control devices.
13.	Social Responsibility of Business