Business Law

Course Introduction:

Dear learners, this is a course on Business. This is the first time for you to deal with a law course. Thus, it is quite essential to familiarize you with the very concept of law as an introduction to the subsequent discussion. When you read different writings on laws, you may come across different definitions of the term “law”. Law is a term subject to various definitions. Though different definitions may be given to the term law, identifying a widely accepted definition of law seems to be essential. In an attempt to come up with a working definition resort shall be made to various writings pertaining to the concept. Although it can be said in simple terms that “law” is the body of rules to which person are expected to conform”, more other elements should be added to this definition so as to have a full-fledged one. It may be defined as rules of conduct that are imposed by a government authority and backed by sanction.

Business law is the area of law that governs relations of “persons” in business. It deals with legal aspects of business behavior.  In this course the concept of personality, contract in general, contract of sale, agency and business organizations will be discussed.  All the items in this course deal with the rights and obligations of “persons”. The concept person is going to be dealt with in somewhat depth manner. Therefore, before discussing rights and duties of persons, you must have some basic ideas on the concept. This shall be followed by “Contract”. The foundation of every business activity is contract.  The provisions of “Contract in General” lay a foundation for other areas of business law.  Then you will be dealing with law of Agency, special contracts and law of business organizations; respectively.

To have a clear understanding of the subject matter of the course you need to read the whole text very closely. 

Course Objective:

Generally, the course is designed to well acquaint you with the basic knowledge of the conceptual underpinnings law pertaining to business. As there exist no business activity that escapes from falling within the realm of law, a good knowledge of law in order to develop skills of problem solving and to enhance your personal competence to engage in business and its environs of the country in your future career is commendable.