BUSINESS LAW

Aug 11th, 2016
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contains notes on : Law of partnerships, Law of Agency, Law of Hire purchase, Negotiable instruments and Sale of Goods law.

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BBA 302:BUSINESS LAW IILECTURE NOTESGENERAL OBJECTIVESThis module is a continuation of Business Law 1 module. It is mainly based on theprinciple of contract. By the time you finish reading this module, you will be able tounderstand how the principle of contract, and agreement, legality is applied to businesstransactions and organisations like partnerships, sales of goods, Agency and hire purchase.The module covers four lectures. The first lecture introduces you to the concept ofpartnership form of organizations by defining partnership, partner and firm. It alsodiscusses its formation, relationship between partners, partnership and third party. Lastlyit discusses how partnership and firm are dissolved. Lecture two discusses sales of goods,throwing light to various sections of sales of goods Act. Lecture three discusses the Agencyby explaining agency relationship i.e the relationship between an agent and principal, theirrights and liabilities to the third party. Lecture four discusses hire-purchase relationships.At the end of the module you will find Illustrations mentioned in the module. You areencouraged to look at other relevant Illustrations as those included in the module are notthe only ones. Also consult any book on Business Law to further your reading on thesubject.2LECTURE ONEPARTNERSHIPSIn this lecture we are going to discuss nature of partnership, relations of partners inter se,relations of partners to third parties, types and partners,

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