I. Legal Aspects of Business (Based on "LAB Session -1 .

pdf")
1. Introduction: This section stresses the importance of understanding legal aspects of
business for future managers, highlighting its role in ensuring compliance, mitigating risk s,
and protecting company interests.

2. Key Business Laws in India: This section lists major laws governing business operations
in India, including: - Companies Act, 2013 - Indian Contract Act, 1872 - Goods and Services
Tax (GST) Act - Foreign Exchange Management Act (FEMA), 1999 - Insolvency and
Bankruptcy Code (IBC), 2016 - Labor Laws (Industrial Disputes Act, Factories Act)

3. The Three 'I's of the Regulatory Environment: This section explains the three key
elements of the regulatory environment: - Infrastructure (physical & legal setups) - Institutions
(lawmaking and enforcement bodies) - Implementation (effective enforcement of laws)

4. National vs. Private International Trade Laws: This section differentiates between
national and private international trade laws, providing examples of key legislation: - National
Trade Laws: Customs Act, 1962; Foreign Trade (Development and Regulation) Act, 1992;
Indian Patents Act, 1970 - Private International Trade Laws: United Nations Convention on
Contracts for the International Sale of Goods (CISG); Arbitration and Conciliation Act, 1996

5. Applicable and Governing Laws: This section defines applicable law and governing law,
highlighting their significance in contract interpretation and dispute resolution.

6. Civil and Criminal Laws: This section differentiates between civil and criminal laws,
providing examples of key legislation: - Civil Laws: Civil Procedure Code (CPC), 1908; Indian
Contract Act, 1872; Transfer of Property Act, 1882; Real Estate (Regulation and
Development) Act, 2016 - Criminal Laws: Indian Penal Code (IPC), 1860; Code of Criminal
Procedure (CrPC), 1973; Special laws (Prevention of Corruption Act, Narcotic Drugs and
Psychotropic Substances Act)

7. Conclusive Remarks: This section summarizes the key legal frameworks governing
businesses in India, emphasizing their interconnectedness and importance for sustainable
growth.

8. Legal Case Summaries (Session 1) - Liebeck v. McDonald's (1994): This section

summarizes the famous McDonald's coffee case, highlighting the issues of product liability,
consumer safety, and tort reform. - Novartis AG v. Union of India (2013): This section
revisits the Novartis case, focusing on its implications for patent protection in the
pharmaceutical sector and access to affordable medicines. - Nestle India Ltd. v. Food
Safety & Standards Authority of India (2015): This section summarizes the "Maggi
Noodles" case, highlighting the importance of regulatory compliance, food safety testing, and
the impact of regulatory actions on businesses.

9. Paradigms and Points to Ponder: This section reinforces the importance of legal
knowledge for business administration students, emphasizing its role in decision -making, risk
mitigation, and ethical conduct.

10. Origin of Legal & Business Terms: This section delves into the etymology of the words
"legal" and "business," tracing their historical roots and evolution.

11. Business in Mythology: This section explores representations of business and

commerce in Greek mythology, highlighting the gods Hermes and Plutus as figures
associated with trade, wealth, and prosperity. It encourages further research into similar
representations in Indian mythology.
12. Paintings Depicting Business: This section discusses famous paintings that depict
various aspects of business and commerce, providing insights into historical practices and
societal attitudes: - "The Moneylender and His Wife" by Quentin Matsys (1514) - "The
Counting House" by Pieter Bruegel the Younger - [Missing Title] by Léon Augustin Lhermitte
(encourages research to identify the painting)

13. Conclusive Remarks: This section emphasizes the enduring influence of legal systems,
mythology, and art on the understanding and practice of business throughout history.

II. Intellectual Property Laws in India (Based on "LAB 23 Class

Material ( HP) .pdf")
1. Trademarks Act, 1999 - Registration of Trademarks: This section explains the purpose
and process of trademark registration in India, outlining the rights granted to registered
owners. It includes examples of both Indian and foreign trademarks. - Concept of Well-
Known Trademark: This section defines well-known trademarks and the enhanced protection
they receive against misuse, highlighting their significance in brand protection. - Passing Off
and Infringement: This section differentiates between passing off (protecting unregistered
trademarks) and infringement (concerning registered trademarks), discussing legal remedies
available.

2. Indian Copyright Act, 1957 - Registration and Infringement of Copyright: This section
explains the benefits of copyright registration, while emphasizing that protection exists u pon
creation. It also discusses the concept of copyright infringement and available legal remedies.
- Key Rights Under Copyright: This section outlines the exclusive rights granted to copyright
holders, including the duration of protection, emphasizing the economic and moral interests it
safeguards. - Fair Use and Exceptions: This section discusses the concept of fair use,
allowing limited use of copyrighted material without permission, and other exceptions
balancing copyright with public interest. It provides Indian and foreign examples for context.

3. Indian Patents Act, 1970 - Meaning of Patent & Inventions: This section defines patents
and the types of inventions eligible for protection. It emphasizes the exclusive rights granted
to patent holders and the duration of protection. - Opposition Proceedings & Grant of
Patent: This section explains the process of patent application and opposition proceedings,
highlighting the criteria for granting patents and the role of the Controller. It includes Indian
and foreign examples of patented inventions.

4. Geographical Indications (GI) - Definition: This section defines Geographical Indications,

emphasizing their role in protecting products with unique qualities linked to their geographical
origin. - Purpose and Protection: This section explains the purpose of GIs in ensuring quality
and authenticity, outlining the protection offered against unauthorized use. It includes Indian
and foreign examples of GI-protected products.

5. Industrial Designs - Definition: This section defines industrial designs, focusing on the
aesthetic aspects of articles rather than technical features. - Registration and Protection:
This section explains the process of design registration, outlining the exclusive rights granted
to registered owners and the duration of protection. It includes Indian and foreign examples of
protected designs.

6. Trade Secrets - Definition: This section defines trade secrets, highlighting their
importance in maintaining competitive advantage. It emphasizes that protection relies on
secrecy and non-disclosure agreements, not formal registration. - Protection and
Enforcement: This section discusses strategies for protecting trade secrets and legal actions
available in case of misappropriation. It provides examples of well-known trade secrets in
India and abroad.
7. Conclusion - This section summarizes the importance of various intellectual property laws
in India, emphasizing their role in protecting different aspects of intellectual creations and
fostering innovation.

8. Case Law Analysis - Novartis vs. Union of India (Patent): This section analyzes the
landmark Novartis case, focusing on the interpretation of Section 3(d) of the Indian Patents
Act and its impact on patent protection for pharmaceutical innovations in India. It highlights
the balancing act between patent rights and access to affordable medicines. - Chuck Berry
vs. the Beach Boys (Copyright): This section summarizes the copyright dispute over the
song "Surfin' USA," highlighting an early example of music plagiarism and how it was resolved
through the transfer of publishing rights. - Barfi! (2012) plagiarism accusations: This section
briefly discusses the accusations of plagiarism against the film "Barfi!" and its significance in
raising awareness about copyright infringement in the Indian film industry.

9. National IPR Policy: This section highlights the "Creative India; Innovative India" slogan
as the focus of the National IPR Policy, connecting it to government initiatives promoting
innovation and entrepreneurship in India.

III. Alternative Dispute Resolution (Based on "LAB ADR Session 4

.pdf")
1. Introduction: This section defines ADR and highlights its benefits, especially in business
contexts where swift and confidential resolutions are crucial.

2. Types of ADR - Negotiation: This section defines negotiation as a direct communication

process between disputing parties to reach a mutually acceptable agreement without third-
party involvement. It provides an example and outlines the key stages of negotiation.
- Mediation: This section defines mediation and the role of a neutral third-party
mediator in facilitating communication and guiding parties towards a voluntary agreement. It
provides an example and explains the key stages of mediation.
- Conciliation: This section defines conciliation, highlighting the conciliator's more
active role in proposing solutions compared to mediation. It provides an example and explains
the key stages of conciliation.
- Arbitration: This section defines arbitration as a formal process where a neutral
third-party arbitrator makes a binding decision. It emphasizes the formal nature, the choice of
an expert arbitrator, and the finality of the award. The section further delves into specific
sections of the Arbitration and Conciliation Act, 1996, highlighting their practical application in
arbitration proceedings. The recognition and enforcement of international arbitration awards in
India are also addressed.

3. Advantages of ADR: This section summarizes the key advantages of ADR, including cost-
effectiveness, flexibility, confidentiality, and speed.

4. Conclusion: This section emphasizes the value of ADR in managing business disputes
effectively in India, equipping students with practical skills for their professional careers.

5. Suggested Reading: This section provides a link to an article on ADR for art disputes,
suggesting further exploration of ADR in specific industries.
IV. Introduction to the Law of Contract in India (Based on "LAB
Session 56 Contract .pdf")
1. Introduction: This section introduces the Indian Contract Act, 1872, as the governing law
for contracts in India, highlighting its role in ensuring the enforceability of agreements.

2. Basis and Extent of the Law of Contract: This section clarifies the scope and foundation
of the Indian Contract Act, 1872, emphasizing the principle of consensus ad idem for contract
validity.

3. Offer and Acceptance: This section explains the foundational elements of a contract,
outlining the definition and communication of offers and acceptances.

4. Essential Elements of a Valid Contract: This section details the five essential elements
required for a contract to be valid and enforceable, including relevant sections from the Act:
- Competent Parties: This section defines the legal capacity required to enter into a contract,
referring to age, mental soundness, and legal disqualifications.
- Free Consent: This section emphasizes that consent must be genuine and free from
coercion, undue influence, fraud, misrepresentation, or mistake. It provides detailed
explanations and examples for each factor.
- Valid Consideration: This section defines consideration as something valuable exchanged
for a promise, highlighting its essentiality in a contract.
- Lawful Object: This section explains that the purpose of the contract must be lawful and not
against public policy.
- Agreements Expressly Declared Void: This section lists specific agreements that are
automatically considered void under the Indian Contract Act, providing examples for clarity.

5. Conclusion: This section summarizes the essential elements of valid contracts in India as
defined by the Indian Contract Act, 1872, emphasizing their importance for creatin g legally
binding agreements.

6. Short Note on Case Laws: This section provides summaries of four landmark cases in
contract law, highlighting key principles and their application:
- Balfour v. Balfour (1919): This case established the principle that agreements between
spouses are generally not legally binding unless there's clear intent for legal relations.
- Mohori Bibee v. Dharmodas Ghose (1903): This case affirmed that contracts with minors
are void ab initio, as minors lack the legal capacity to contract.
- Lalman Shukla v. Gauri Dutt (1913): This case emphasized the necessity of knowledge
and acceptance of an offer for a contract to be valid.
- Carlill v. Carbolic Smoke Ball Co. (1893): This case established important principles
regarding unilateral contracts, acceptance by performance, and the necessity of intention to
create legal relations.

V. Performance and Breach of Contracts (Based on "LAB Session

78 Contract . .pdf")
1. Introduction: This section delves into the complexities of contract performance and
breach, outlining key principles and legal provisions from the Indian Contract Act, 1872.

2. Void, Voidable, and Illegal Agreements: This section clarifies the distinctions between
void, voidable, and illegal agreements, providing examples and relevant sections from the Act.
3. Discharge of Contract: This section explains the different ways a contract can be
discharged, highlighting the legal consequences of each:
- By Performance: Contract fulfilled by both parties.
- By Agreement or Consent: Mutual termination or modification.
- By Impossibility or Frustration: Unforeseen circumstances make performance impossible.
- By Breach: One party fails to fulfill obligations.
- By Operation of Law: Legal events (insolvency, death) lead to discharge.

4. Quasi Contracts: This section explains the concept of quasi-contracts, situations treated
as contracts to prevent unjust enrichment, providing examples for each situation:
- Supply of Necessaries: Reimbursement for supplying necessities to someone incapable of
contracting.
- Payment by Interested Party: Reimbursement for necessary payments made on behalf of
another.
- Obligation to Pay for Non-Gratuitous Acts: Compensation for benefits received from
lawful actions not intended as gifts.
- Responsibility of Finder of Goods: Compensation for expenses incurred in preserving
found goods.
- Money Paid or Goods Delivered by Mistake or Coercion: Obligation to return mistakenly
received money or goods.

5. Breach of Contracts: This section defines the two types of contract breaches:
- Anticipatory Breach: Declaration of non-performance before the due date.
- Actual Breach: Failure to perform on the due date or during performance.

6. Remedies for Breach of Contract: This section outlines the various legal remedies
available to the aggrieved party in a breach of contract:
- Damages: Monetary compensation for losses.
- Specific Performance: Court order compelling the defaulting party to fulfill obligations.
- Injunction: Court order preventing actions that violate the contract.
- Rescission: Cancellation of the contract and restoration to the pre-contract position.
- Restitution: Prevention of unjust enrichment by recovering the value of benefits received.

7. Case Law: This section summarizes the landmark case of Satyabrata Ghose vs.
Mugneeram Bangur & Co. (1954), clarifying the doctrine of frustration under Section 56 of
the Indian Contract Act. It emphasizes that mere delay or inconvenience does not constitute
frustration unless the nature of obligations is fundamentally altered.

VI. The Sale of Goods Act, 1930 (Based on "LAB Session 9 SOGA
.pdf")
1. Introduction: This section introduces the Sale of Goods Act, 1930, as the governing law
for sale of goods transactions in India.

2. Key Concepts: The section explains key concepts and provides examples for each,
highlighting relevant sections from the Act:
- Sale and Agreement to Sell: Distinguishes between immediate transfer of ownership in a
sale and future transfer in an agreement to sell.
- Consideration: Emphasizes that consideration in a sale must be monetary, differentiating it
from barter.
- Risk or Damage Associated with Passing of Property: Explains the principle that risk
passes to the buyer with the transfer of ownership, regardless of ph ysical possession.
- Ascertained Goods: Defines goods specifically identified and agreed upon at the time of
contract.
- Definition of Goods: Defines "goods" under the Act, including various forms of movable
property.
3. Types of Goods: Explains the three classifications of goods under the Act:
- Existing Goods: Physically exist and are owned by the seller at the time of contract.
- Future Goods: Not yet in existence or owned by the seller at the time of contract.
- Contingent Goods: Future goods dependent on a condition being met.

4. Conditions and Warranties: Differentiates between essential conditions and collateral

warranties in a sale contract, outlining the remedies available for breach:
- Conditions: Breach allows contract repudiation.
- Warranties: Breach allows claim for damages but not contract repudiation.

5. Caveat Emptor: Explains the principle of "buyer beware," placing the onus of inspection
and risk assessment on the buyer.

6. Unpaid Seller: Defines an unpaid seller and outlines their rights under the Act:
- Right of Lien: Right to retain possession of goods until payment.
- Right of Stoppage in Transit: Right to stop goods in transit if the buyer becomes insolvent.
- Right of Resale: Right to resell goods after exercising lien or stoppage in transit.

7. Conclusion: This section emphasizes the significance of understanding the Sale of Goods
Act, 1930, for navigating legal aspects of commercial transactions involving goods.

8. Case Summaries: Provides summaries of two case laws related to the Sale of Goods Act,
illustrating its application in real-world disputes:
- State of Andhra Pradesh vs. M/s Larsen & Toubro Ltd. (2005): This case clarified the
state's power to levy sales tax on works contracts, highlighting the retrospective application of
the 46th Constitutional Amendment.
- Ozair Hussain vs. Union of India (2002): This case led to mandatory labeling of vegetarian
and non-vegetarian food products, emphasizing consumer rights to informed choices.

9. Interesting Read: Provides a link to an article about the historical opium trade, suggesting
further exploration of relevant historical contexts.