Taxmann Business Laws B.Com. (Prog.) UGCF By Sushma Arora Edition November 2022

This book is a comprehensive & authentic book on the following Business Laws:

• Indian Contract Act, 1872 including Discharge of Contract & Remedies for Breach and Introduction of Special Contracts
• Sale of Goods Act, 1930
• Limited Liability Partnership Act, 2008

This book aims to impart the basic working knowledge of important business laws relevant to general business activities in physical & virtual spaces, along with relevant Case Laws.

This book aims to fulfil the requirement of students of undergraduate courses in commerce and management, particularly the following:

• B.Com. (Prog.) Core Paper BC: DSC 1.2 based on Undergraduate Curriculum Framework (UGCF) for Delhi University
• Non-Collegiate Women’s Education Board
• School of Open Learning of the University of Delhi
• Various Central Universities throughout India
• BBA, MBA, CA-Intermediate (IPC), Company Secretaries courses

The Present Publication is the 8th Edition, authored by Sushma Arora, with the following noteworthy features:

• [Simple & Systematic Presentation] The subject matter is presented in a systematic & straightforward method, along with a comprehensive explanation
• [Examples & Case Studies from Landmark Ruling] This book offers comprehensive coverage of business laws with interesting examples/case studies derived from landmark rulings. It also covers Case Laws recommended by the Department of Commerce, Delhi University
• [Chapter-wise Case Laws] with judgements have been provided at the beginning of the book
• [Test Questions, Practical Problems & True/False Statements with Hints] are given at the end of each chapter to provide students with thorough practice in solving examination question

[Previous Exam Question Papers] for the last few years are covered at the end of the book. This will help the students to have a clear idea of the questions usually asked. The following question papers are covered:

• B.Com. (Prog.) CBCS/SEM-II, (May-June 2016)
• B.Com. (Prog.) CBCS/SEM-II, (May-June 2017)
• B.Com. (Prog.) CBCS/SEM-II, (May-June 2018)
• B. Com. (Prog.) CBCS/SEM-II, (May-June 2019)
• B.Com. (Prog.) CBCS/SEM-II, (August 2020)
• B.Com. (Prog.) CBCS/SEM-II, (August 2022)

[Student-Oriented Book] This book has been developed keeping in mind the following factors:

• Interaction of the author/teacher with their students in the classroom
• Shaped by the author/teachers’ experience of teaching the subject matter at different levels
• Reactions and responses of students have also been incorporated at different places in the book

[Amended & Updated] The following amendments have been included in this book:

• Limited Liability Partnership Act, 2008 (‘LLP Act’)
• The chapter on LLP Act has been updated as per the Limited Liability Partnership (Amendment) Act, 2021
• A new concept of small LLP w.e.f. from 1st April 2022 has been inserted in Chapter 19
• Amendment in LLP Incorporation Process & other Major Amendments as per LLP (Second Amendment) Rules, 2022 has been incorporated in Chapter 20
• Penalty provisions under LLP (Amendment) Act, 2021 have been added in Chapter 21
• Revised fee norms notified in LLP (Amendment) Act, 2022 have been added at the end of Unit 5

Contents of this book are as follows:

Indian Contract Act, 1872

• ICA, 1872: Nature, Meaning, Essentials and Kinds of Contract
• ICA, 1872: Offer & Acceptance
• ICA, 1872: Consideration
• ICA, 1872: Competency of the Parties to Contract
• ICA, 1872: Free Consent
• ICA, 1872: Legality of Object & Consideration
• ICA, 1872: Void Agreements & Contingent Contracts
• ICA, 1872: Quasi Contracts
• ICA, 1872: Discharge of Contract
• ICA, 1872: Remedies for Breach of Contract
• ICA, 1872: Indemnity & Guarantee
• ICA, 1872: Contract of Bailment & Pledge
• ICA, 1872: Contract of Agency

Sale of Goods Act, 1930

• Sale of Goods Act, 1930: Nature & Formation of Contract of Sale
• Sale of Goods Act, 1930: Condition & Warranties
• Sale of Goods Act, 1930: Transfer of Property
• Sale of Goods Act, 1930: Performance of Contract of Sale
• Sale of Goods Act, 1930: Unpaid Seller & His Rights

Limited Liability Partnership Act, 2008

• Introduction of LLP: Nature & Scope
• Formation & Incorporation of LLP
• Partners & their Relations in LLP
• Conversion to LLP