Business Law Notes (MBA, BBA, B.Com, Management) for mba, bba, b.com and other management and business studies students. Business law is also known as corporate law or commercial law; Business law is defining as the form of law that that applies to the rights, relations, and conduct of individuals and corporations involved in commerce, merchandising, trade, and sales. It is normally considered to be a subdivision of civil law and deals with the matters of both private law and public law.
The term source indicates that the place of thing from where something emerges or come into existences. Source means origin of law. The source of law is relating to its validity. There is no unanimous view in respect of source of law among the thinkers. Here are five major sources of law which are discussed here under. ... read more
March 09, 2018
Law can classify in many ways. We have divided law in two distinct categories i.e. substantive law or procedural law and civil law or criminal law. 1. Substantive Law or Procedural Law Substantive law is a law that generates and controls the rights and duties of parties. For exa... read more
March 09, 2018
Generally contract means a promise or agreement made by two or more persons enforceable by law. “An agreement enforceable by law is a contract.†Hence, agreement and legal enforceability creates an agreement as contract. “All Agreements are contracts if they are made by the free consent of ... read more
June 05, 2017
The term offer is also called proposal. It is defined “when one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is said to make a proposal.†Acceptance is defined as when the person t... read more
June 05, 2017
Define Contract. “An agreement enforceable by Law is a Contract.†What is implied contract? An agreement which is not made by written or spoken words of parties but it is evidenced from the acts or conduct of the parties or according to prevailing conditions. What is quasi contract?The contract which is ... read more
June 04, 2017
Law is an instrument to regulate and control the society. There are several types of laws in existence. There is no unanimous view in classification of law among the Jurists and scholars of this field. The basis of classification is also different among them. Therefore, it is very difficult task to give classificati... read more
April 07, 2017
Meaning and Nature of Law An ancient time people were free. They ruled by themselves. When people lived with group then they made rule to manage their behavior and conduct. Then after progressively they became ruler and ruled. Senior person of the group might be setup the rule and regulation at earlier time. T... read more
April 05, 2017