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Culture Documents
MGMT260BusinessLaw
FallSemester2015
Instructor
RoomNo.
OfficeHours
Email
Telephone
Secretary/TA
TAOfficeHours
CourseURL(ifany)
SikanderA.ShahandUzairKayani
228;232
TBA
sikander@lums.edu.pk;uzair.kayani@lums.edu.pk
TBA
TBA
TBA
suraj.lums.edu.pk
COURSEBASICS
CreditHours
Lecture(s)
Recitation/Lab(perweek)
Tutorial(perweek)
3
NbrofLec(s)PerWeek
NbrofLec(s)PerWeek
NbrofLec(s)PerWeek
Duration
Duration
Duration
1hour
COURSEDISTRIBUTION
Core
Elective
OpenforStudentCategory
CloseforStudentCategory
Core
Sophomores,JuniorsandSeniors
COURSEDESCRIPTION
Thiscourseaimstoequipthestudentswiththeabilitytounderstandbothrudimentaryandcomplexbusinesslawprinciples,their
application and interplay in interdisciplinary settings. The course focuses in the areas of contracts, agency, partnerships and
companylaw.ThecoursewillcomprehensivelycovertheoreticalaswellassubstantiveandpracticalaspectofBusinessLaw.
COURSEPREREQUISITE(S)
None
COURSELEARNINGOBJECTIVES
Thiscoursewill:
Equip the students with discursive and substantive information on Contracts Law, Agency Law, Partnerships Law
andCompanyLaw.
Sensitizestudentstotheissuesthatcontinuallyariseintheareaofbusinesslaw,alongwithpossiblesolutions.
Theroleofpublicpolicyinshapingthelawofcontracts,agency,partnershipsandcompany.
Enable the students to comprehend both the foundational arguments and the interpretative approaches to
businesslaw.
Developanalytical,cognitiveandlogicalreasoningskillsinamultidisciplinarycontextinthesettingofbusinesslaw.
LahoreUniversityofManagementSciences
LEARNINGOUTCOMES
Uponcompletionofthecourse,studentswillbeableto:
1. Applytheprinciplesofcontracts,agency,partnershipandcompanylawtoreallifesituations.
2. DemonstratetheabilitytoanalyticallyandpracticallythinkthroughproblemspertainingtoBusinessLaw.
3. DevelopanalyticalandnegotiationskillsrelevanttothefieldofBusinessLaw.
UNDERGRADUATEPROGRAMLEARNINGGOALS&OBJECTIVES
GeneralLearningGoals&Objectives
Goal1EffectiveWrittenandOralCommunication
Objective:Studentswilldemonstrateeffectivewritingandoralcommunicationskills
Goal2EthicalUnderstandingandReasoning
Objective:Studentswilldemonstratethattheyareabletoidentifyandaddressethicalissuesinanorganizational
context.
Goal3AnalyticalThinkingandProblemSolvingSkills
Objective:Studentswilldemonstratethattheyareabletoidentifykeyproblemsandgenerateviablesolutions.
Goal4ApplicationofInformationTechnology
Objective:Studentswilldemonstratethattheyareabletousecurrenttechnologiesinbusinessandmanagement
context.
Goal5TeamworkinDiverseandMulticulturalEnvironments
Objective:Studentswilldemonstratethattheyareabletoworkeffectivelyindiverseenvironments.
Goal6UnderstandingOrganizationalEcosystems
Objective:StudentswilldemonstratethattheyhaveanunderstandingofEconomic,Political,Regulatory,Legal,
Technological,andSocialenvironmentoforganizations.
MajorSpecificLearningGoals&Objectives
Goal7(a)DisciplineSpecificKnowledgeandUnderstanding
Objective:Studentswilldemonstrateknowledgeofkeybusinessdisciplinesandhowtheyinteractincluding
applicationtorealworldsituations(Includingsubjectknowledge).
Goal7(b)Understandingthesciencebehindthedecisionmakingprocess(forMGSMajors)
Objective:Studentswilldemonstrateabilitytoanalyzeabusinessproblem,designandapplyappropriate
decisionsupporttools,interpretresultsandmakemeaningfulrecommendationstosupportthedecisionmaker
Indicatebelowhowthecourselearningobjectivesspecificallyrelatetoanyprogramlearninggoalsandobjectives.
PROGRAMLEARNINGGOALSAND
OBJECTIVES
COURSELEARNINGOBJECTIVES
COURSEASSESSMENTITEM
Goal1EffectiveWrittenandOral
Communication
Developanalytical,cognitiveandlogical
reasoningskillsinamultidisciplinary
contextinthesettingofbusinesslaw.
(CLO#5)
Theroleofpublicpolicyinshapingthe
lawofcontracts,agency,partnershipsand
company.(CLO#3)
Developanalytical,cognitiveandlogical
reasoningskillsinamultidisciplinary
contextinthesettingofbusinesslaw.
(CLO#5)
Classparticipation,presentations.
Goal2EthicalUnderstandingand
Reasoning
Goal3AnalyticalThinkingandProblem
SolvingSkills
Goal4ApplicationofInformation
Technology
Classparticipation,FinalExam
Classparticipation,Finalexam
Finalexam
LahoreUniversityofManagementSciences
Goal5TeamworkinDiverseand
MulticulturalEnvironments
Goal6UnderstandingOrganizational
Ecosystems
Goal7(a)DisciplineSpecificKnowledge
andUnderstanding
Goal7(b)Understandingthescience
behindthedecisionmakingprocess
GRADINGBREAKUPANDPOLICY
Assignment(s):
HomeWork:
Quiz(s):
ClassParticipation:15%
Attendance:10%
MidtermExamination(Presentation):25%
Project:
FinalExamination:50%
EXAMINATIONDETAIL
Midterm
Exam
FinalExam
Yes/No:NO
CombineSeparate:
Duration:
PreferredDate:
ExamSpecifications:
Yes/No:YES
CombineSeparate:
Duration:
ExamSpecifications:
Developanalytical,cognitiveandlogical
reasoningskillsinamultidisciplinary
contextinthesettingofbusinesslaw.
(CLO#5)
Sensitizestudentstotheissuesthat
continuallyariseintheareaofbusiness
law,alongwithpossiblesolutions(CLO#
2)
Equipthestudentswithdiscursiveand
substantiveinformationonContractsLaw,
AgencyLaw,PartnershipsLawand
CompanyLaw.(CLO#1)
Sensitizestudentstotheissuesthat
continuallyariseintheareaofbusiness
law,alongwithpossiblesolutions(CLO2)
Enablethestudentstocomprehendboth
thefoundationalargumentsandthe
interpretativeapproachestobusinesslaw.
(CLO#4)
Presentations
Finalexam
Classparticipation,Finalexam
Classparticipation,Finalexam
LahoreUniversityofManagementSciences
COURSEOVERVIEW
WEEK/
LECTURE/
MODULE
RECOMMENDED
READINGS
TOPICS
SESSIONOBJECTIVE(S)
LAWOFCONTRACTS
Session1
Session2
Session3
Offer,InvitationtoTreatand
Express/ImpliedPromises
Advertisement,Auctions,Tendersand
displayofGoods
Unilateral/BilateralContracts
Owenv.Tunison
Harveyv.Facey
Gibsonv.Manchester
Woodv.Lucy
Petrosinv.Pak
Craftv.Elder
Fisherv.Bell
Pharmav.Boots
Patridgev.Crittenden
Carlillv.Carbolic
Whitec.Corlies
Rogostav.Wilder
Understandthevarious
typesofcontracts
Discussthenatureand
scopeofthesecond
elementofacontract
i.e.Consideration
Whatmayconstitute
consideration?
Howmuchconsideration
isnecessary?
Furtherdelveintothe
conceptofconsideration
Discussthepossibilityof
pastconsideration
Session4
HafeezullahKhanv.Al
Haj
Feinburgev.Pfeiffer
Chappelv.Nestle
Whitev.Bluett
Consideration:DefinitionandScope
Session5
Scope(Contd.)andPreexistingDuty
Rule
Hamerv.Sidway
FiegeV.Boehm
Wardv.Byham
Arzaniv.People
PakWapdav.KotAddu
SyedShabihHaiderRizvi
v.SheikhMuhammad
AlAbidvSyed
Muhammad
KadirMotorsv.Messers
NationalMotorsLtd.
RubinaMakhdoomv.
SajidAhmed
Familiarizestudentswith
variousbasicelements
ofalegallyvalidcontract
Discussthevarious
formsofthefirst
elementofacontract
i.e.Offer
Furtherexplorethe
variousformsofthefirst
elementofacontract
i.e.Offer
Session6
LawfulConsiderationandVoid
Contracts(RestraintofTradeand
Marriage)
Whatqualifiesaslawful
consideration?
Whatistheresultof
legallyinadequate
considerationonthe
contractmadethrough
it?
LahoreUniversityofManagementSciences
Session7
ConditionPrecedent
Session8
Session9
Session10
Session11
ExceptionalDamages:ReplaceorRepair
Luttingerv.Rose
InternationalRotterdam
v.River
Kanavosv.Hancock
Ruxleyv.ContructionLtd
Laredov.H&H
Hopperv.AllPetAnimal
Clinic
Whatisaconsideration
precedent?
Howdoesacondition
precedentoperate?
Theremedyofbreachof
contract.
Therationalebehind
remedies
Howaredamages
calculated?
LAWOFAGENCY
TheConceptofAgency
&
TheCreationofAgency
LiabilityonContractsMadebyAgents
DutiesofAgents
&
TheRightsofAgents
Express&ImpliedActualAuthority
HelyHutchinsonv.
BrayheadLtd.
ApparentAuthority
Spirov.Lintern
AgencyByOperationofLaw
UsualAuthority
Watteauv.Fenwick
AgencyByRatification
KeighleyMaxted&Cov
Durant
KelnervBaxter
BoltonPartnersv.
Lambert
Saidv.Butt
Dysterv.Randall
BreachofWarrantyofauthority
Yongev.Toynbee
HabtonFarms(an
unlimitedcompany)v.
Nimmoandanother
ToObeyandInstruct
CareandSkill
ChaudryandPrabhakar
PersonalPerformance
FiduciaryDuties
ImageviewManagement
Ltd.v.Jack
Boardmanv.Phipps
Exploretheconceptof
Agency.
Howisarelationshipof
agencycreated?
Whencanagencybe
inferredfromgiven
circumstances?
Thefunctionofan
agency?
Explorewhatisthe
scopeofaprinciples
liabilityforactsdoneby
anagent
Learnthevariousduties
anagentowesthe
principle
Whataretherightsof
anagent?
LahoreUniversityofManagementSciences
Session12
TerminationofAgency
Session13
PRESENTATIONS
LAWOFPARTNERSHIPS
AttorneyGeneralfor
HongKongv.Reidand
Others
AdditionalDutiesofCommercial
Agents
Indemnity&Remuneration
ReRichmondGate
PropertyCo.Ltd.
Luxor(Eastbourne)Ltd.v.
Cooper
Lien
TerminationbyOperationofLaw
Terminationbyothermeans
Understandvarious
waysinwhichanagency
relationshipcanbe
terminated
Exploreanddiscussthe
natureofpartnerships.
Whatarethedefining
featuresofa
partnership?
Session14
Session15
Session16
Session17
TheNatureandDefinitionof
Partnership
IndicatorsWhetherPartnershipExists
ThePartnershipAgreement
PartnersRelationshipwithEachOther
PartnershipProperty
PartnersFiduciaryDuties
KeithSpicerLtd.V.
Mansell
Khanv.Mia
Saywellv.Pope
PitreavieGolfClubv.
Penman
Davisv.Davis
Coxv.Coulson
Prattv.Strick
YoungLegalAssociates
Ltd.v.Zahid
Croftv.Day
Mossv.Elphick
TermsImpliedbythePartnership
Act
Byrnev.Reid
Milesv.Clarke
DonKingProductionsIncv.
Warren
DutytoRenderAccounts
Lawv.Law
HogarEstatesLtd.v.
Whatarethe
constituentsofa
partnership?
Whatfactorsgiveriseto
apartnership?
Whataretheelements
ofapartnership
agreement?
Whataretherightsof
eachpartneragainstthe
otherpartnersinthe
partnership?
Whataretheduties
owedbyeachpartnerto
theotherpartnersinthe
partnership?
LahoreUniversityofManagementSciences
Session18
Session19
PartnersRelationshipwithOutsiders
DissolutionandWindingUp
&
LimitedPartners
ShebronHoldingsLtd.
AccountingForProfits
Bentleyv.Craven
JohnTaylorsv.Masons
andWilsons
Trimblev.Goldberg
PartnersasAgents
MercantileCreditco.v.
Garrod
JJCoughlanLtd.V.
RupareliaandOthers
LiabilityforPartnersTortsand
WrongfulActs
LiabilitybyHoldingOut
TowerCabinetCoLtd.V.
Ingram
DissolutionbyPartners
DissolutionundertheAct
DissolutionbyCourtOrder
Windingup
RealizationandDistributionof
FirmsAssets
Whatisthestatusof
eachpartnerwhen
dealingwithan
outsider?
Liabilityofeachpartner
inregardstodealings
withoutsidersbythe
otherpartners
Discussthevariousways
apartnershipmaycome
toanend.
Discusstheprocessof
dissolutionof
partnership.
Postpartnership
obligations.
Session20
COMPANYLAW
TheNatureandFormationofa
Company
TheCompaniesOrdinance:Section
1429
TheNatureofaCompany
SalomonvSalomonandCo
Ltd
MacauravNorthern
AssuranceLtd.
Tunstallv.Steigmann
TheCorporateVeil
Adamsv.CapeIndustries
plc
GilfordMotorCoLtd.V.
Horne
Ordandanotherv.
BelhavenPubs
ClassificationofCompanies
FormationofRegisteredCompanies
Discuss,inlightofcase
lawandtheprovisionso
theCompanies
Ordinance,whatisa
company?
Liabilityofmanagersofa
companytojustifytheir
decisionsandthelegal
conceptofcorporate
veil
Whatarethevarious
kindsofcompanies?
Howarecompanies
formed?
LahoreUniversityofManagementSciences
Session21
Session22
Session23
TheNatureandFormationofa
Company(Contd.)
TheManagementofaCompany
TheManagementofaCompany
(Contd.)
TheCompaniesOrdinance:Section
3041
TheConstitutionofaCompany
Greenhalghv.Arderne
CinemasLtd.
OfftheshelfCompanies
ContractsMadePriortoCompany
Formation
TheCompanyname
Ewingv.Buttercup
MargarineCoLtd.
TheRegistrarofCompanies
TheCompaniesOrdinance:Section
174197
Directors
Bushellv.Faith
Freeman&Lockyerv.
BuckhurstParkProperties
Ltd.
CravenEllisv.Cannons
Ltd.
AutomaticShelfCleansing
FilterSyndicateCoLtd.v.
Cuninghame
Bamfordv.Bamford
TheCompaniesOrdinance:Section
252260
TheCompanySecretary
PanoramaDevelopments
(Guilford)Ltd.v.Fidelis
FurnishingFabricsLtd.
TheAuditor
CaparoIndustriesplcv.
Dickman
CompanyRegisters
TheAnnualreturns
AccountsandAccountingRecords
Discussthevarious
elementsofa
constitutionofa
company.
Thelegalstatusand
enforceabilityofthe
constitutionofa
company?
Therequirementsin
regardstoselectinga
companyname.
Explorethevariousclass
ofpersonresponsible
forthemanagementofa
company
Directors:whoarethey?
Whataretheirrights?
Andwhataretheir
dutiestowardsthe
company?
Whataretherightsand
obligationsofa
companysecretary?
Whoisanauditor?The
roleofanauditorina
company?
Variousrecordsthe
companyislegally
requiredtomaintain.
LahoreUniversityofManagementSciences
Session24
Session25
Session26
Session27
TheCompaniesOrdinance:Section
6181,89108
Shareholders,Resolutions,Maintenance Shareholders
ofCapital,MinorityProtection,
TheNatureofShares
Debentures
BecomingaShareholderwithShare
Capital
CompanyResolutionsandMeetings
TheLegalEffectoftheConstitution
Hickmanv.Kentor
RomneyMarshSheep
BreederAssociation
Penderv.Lushington
Rayfieldv.Hands
Shareholders,Resolutions,Maintenance
MaintenanceofCapital
ofCapital,MinorityProtection,
InsiderDealing
Debentures(Contd.)
ProtectionofMinorityShareholders
Irvinev.Irvine
Ebrahimiv.Westbourne
Galleries
LoanCapital
TheCompaniesOrdinance:Section
297320,358361,383402
WindingupofCompanies,Limited
LiabilityPartnerships,Benefitsoftrading WindingupofCompanies
ReGermanDateCoffeeCo
asaCompany,PartnershiporLimited
ReThomasEdward
LiabilityPartnership
BrinsmeadandSons
WindingupofCompanies,Limited
ChoiceofLegalStatus
LiabilityPartnerships,Benefitsoftrading
asaCompany,PartnershiporLimited
LiabilityPartnership(Contd.)
Session28
PRESENTATIONS
TEXTBOOK(S)/SUPPLEMENTARYREADINGS
Coursepack
ThePartnershipAct,1890
TheCompaniesOrdinance,1984
Sharesand
shareholders:rightsand
obligations.
Howdoesonebecomea
shareholderina
company?
Participationof
shareholdersinrunning
thecompany
Whatisthelegaleffect
oftheconstitutionofa
company?
Whataretherights
conferredinthe
constitutionof
company?
Theconceptofinsider
dealing
Howareminority
shareholdersprotected?
Whatarethe
protectionsaccordedto
them?
Theprocessofwinding
upofcompanies.
Whataretheobligations
imposedbylawatthe
timeofwindingupof
companies?
Thechoiceoflegal
statuesofacompany.
Whataretheprosand
consofeachstatus?