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06 - Commercial Laws and Business Ethics Operational Level-2

The document outlines a study scheme for a course on commercial laws and business ethics. It covers topics like the legal system of Pakistan, contract law, sales law, partnership law, negotiable instruments law, and business ethics. It provides learning outcomes, topic weightages, and detailed contents for each part of the course syllabus.

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Mudassir
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61 views

06 - Commercial Laws and Business Ethics Operational Level-2

The document outlines a study scheme for a course on commercial laws and business ethics. It covers topics like the legal system of Pakistan, contract law, sales law, partnership law, negotiable instruments law, and business ethics. It provides learning outcomes, topic weightages, and detailed contents for each part of the course syllabus.

Uploaded by

Mudassir
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Study Scheme 2018

(Updated in 2023)

06 - COMMERCIAL LAWS AND BUSINESS ETHICS OPERATIONAL LEVEL-2

INTRODUCTION LEARNING OUTCOMES


This course is designed to focus on the important topics On completion of this course, you should be able to:
of Business Laws, governing the operational aspects of  Understand the legal system of Pakistan
business. A thorough study of this course will develop  Comprehend the sources of business laws;
students’ knowledge about the legal system, contract,  Understand the various laws and provisions
Partnership, Sales and Procurement Laws apply in contained in the contract act, 1872;
Pakistan.  Elucidate the various laws and provisions contained
in the sale of goods act. 1930 and partnership act,
OBJECTIVE
1932
To equip the students with the knowledge of business
 Comprehend the laws related to negotiable
laws, the course enables them to:
instrument act, 1881;
 Understand the legal system of Pakistan
 To understand basic ethics and threats
 Understand application of commercial laws in
industry
 Advise the management on the financial and non-
financial implications of business laws for the
effective operations of the business.
INDICATIVE GRID
PART SYLLABUS CONTENT AREA WEIGHTAGE
A 1 Introduction to Legal System of Pakistan 10%
2 The Contract Act, 1872
3 Sales of Good Act, 1930
B 70%
4 Partnership Act, 1932
5 Negotiable Instrument Act, 1881
C 6 Business Ethics and threats 20%
TOTAL 100%
Note: The weightage shown against each section indicates, study time required for the topics in that section. This weightage
does not necessarily specify the number of marks to be allocated to that section in the examination.

DETAILED CONTENTS
PART – A  Kinds of partners including clauses related to minor
1. Introduction to Legal System of Pakistan partner
 Need of study of law  Difference between partnership and co-ownership
 Sources of law  Formation of partnership
 System of court  Types of partnership
 Doctrine of precedent  Registration of firms and effect of non-registration
 Pakistan’s law-making authority  Rights, duties and liabilities of partner
 Implied authority and non-implied authority of
PART - B partner
2. The Contract Act, 1872  Re-constitution of a firm (incoming & outgoing
 Contract and its kinds partners)
 Offer and acceptance  Modes of dissolution of a firm;
 Consideration and object
 Capacity of parties 5. Negotiable Instrument Act, 1881
 Free consent  Negotiable instrument
 Void agreements  Parties to negotiable instrument
 Contingent and quasi contracts  Presentment of negotiable instrument
 Performance of contract  Negotiation of negotiable instrument
 Discharge of contract  Dishonour of negotiable instrument
 Remedies for breach of contract  Banker and customer
 Indemnity and guarantee
 Bailment and pledge PART – C
 Contract of agency 6. Business Ethics and threats:
 Define corporate codes of ethics and explain its
3. Sales of Good Act, 1930 benefits to the organization and its employees.
 Contract of sale of goods  Describe the typical contents of a corporate code of
 Conditions and warranties ethics.
 Transfer of property  Examples of the fundamental principles of
 Performance of contract of sale professional ethics.
 Rights of unpaid seller  Ethical responsibilities of a Management
Accountant in the preparation and reporting of
4. Partnership Act, 1932 financial information.
 Definition and essential features  Describe situations where ethical conflicts can arise.
 Merits and demerits  Identify the main threats to ethical behavior and
safeguard against ethical threats

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