This book provides a comprehensive and authentic guide on key Business Laws, including:
- Indian Contract Act, 1872
- Sale of Goods Act, 1930
- Limited Liability Partnership Act, 2008
This book aims to impart fundamental working knowledge of essential business laws relevant to general business activities in both physical and virtual spaces. It includes relevant case laws to enhance understanding.
This book is designed to meet the needs of students enrolled in undergraduate courses in commerce and management, particularly:
- B.Com. (Hons.) Core Paper BCH: DSC – 1.2, based on the Undergraduate Curriculum Framework (UGCF) for Delhi University
- B.Com. (Prog.) Core Paper BC: DSC 1.2, based on the UGCF for Delhi University
- Non-Collegiate Women’s Education Board
- School of Open Learning of the University of Delhi
- Various Central Universities throughout India
- BBA, MBA, CA-Intermediate (IPC), and Company Secretaries courses
The Present Publication is the 12th Edition, authored by Sushma Arora, and includes the following noteworthy features:
[Highlights of the 12th Edition]
- Revised and Updated Text – The content has been thoroughly revised and updated to reflect the latest changes in business laws
- Indian Contract (Amendment) Bill, 2024 – The amended definition of coercion as per Section 15 of the Indian Contract (Amendment) Bill, 2024, dated February 2, 2024, has been added in Chapter 5
- Replacement of IPC, CrPC, and Evidence Act – The Indian Penal Code (IPC) has been replaced with the Bharatiya Nyaya Sanhita (BNS), the Code of Criminal Procedure (CrPC) with the Bharatiya Nagarik Suraksha Sanhita (BNSS), and the Indian Evidence Act with the Bharatiya Sakshya Adhiniyam (BSA). These new laws will come into effect from July 1, 2024. Key provisions of BNS and brief descriptions of the other two Acts are provided in Chapter 6
- Companies Act Provisions Applicable to LLP – The Ministry of Corporate Affairs (MCA), via Notification No. G.S.R. 110(E), dated February 11, 2022, has made certain sections of the Companies Act 2013 applicable to Limited Liability Partnerships (LLP). These sections are covered in Chapter 19
- Limited Liability Partnership (Second Amendment) Rules, 2023 – The MCA, via Notification No. G.S.R. 644(E), issued on September 4, 2023, substituted Forms 3 and 4 in the Limited Liability Partnership Rules, 2009. These changes are included in Chapter 20
- Limited Liability Partnership (Third Amendment) Rules, 2023 – On October 27, 2023, the Central Government notified the Limited Liability Partnership (Third Amendment) Rules, 2023, which include major changes such as maintaining a register of partners and providing declarations disclosing beneficial interest. These amendments are added in Chapter 21
- Practical Exercises – Practical exercises as per the New Education Policy have been included before the DU question papers section. These exercises, including case studies on Caveat Emptor under UNIT 4, Sale of Goods Act, 1930, aim to provide practical exposure
- Content Enrichment – Content in some chapters has been enriched to provide a more comprehensive understanding.
- [Simple & Systematic Presentation] The subject matter is presented systematically and straightforwardly, along with comprehensive explanations
- [Examples & Case Studies from Landmark Rulings] This book offers extensive coverage of business laws with interesting examples and case studies derived from landmark rulings. It also covers case laws recommended by the Department of Commerce, Delhi University
- [Test Questions | Practical Problems | True/False Statements] At the end of each chapter, test questions, practical problems, and true/false statements with hints are provided to give students thorough practice in solving examination questions
- [Previous Exam Question Papers] The book includes previous exam question papers from the last few years to help students understand the types of questions usually asked
- [Student-Oriented Book] Developed with student interaction in mind, this book incorporates feedback and responses from classroom experiences shaped by the author’s extensive teaching experience at various levels
About the Author
Sushma Arora is an Associate Professor in the Department of Commerce at Daulat Ram College, University of Delhi. An alumna of Daulat Ram College, she excelled in her B.Com examination in 1975, becoming a position holder at Delhi University. She was also awarded the National Merit Scholarship during her M.Com course at the Delhi School of Economics, University of Delhi, where she later joined as a faculty member. She holds an M.Phil in Finance from the Delhi School of Economics, University of Delhi.
With 40 years of teaching experience, Professor Arora has participated in numerous national and international seminars and conferences. Her areas of special interest include Business, Industrial & Cyber Laws, Cost Accounting, and Business Statistics. She is the author of nine books, including:
Business and Industrial Laws (Annual & Semester Mode)
Business Laws (Annual & Semester Mode) for B.Com (H)
Business Laws for B.Com (Sem-1) as per CBCS Syllabus
Business Laws for B.Com (H) Course (Sem-1) for Odisha University
Co-author (First Author) of Industrial Laws for B.Com (H) Course, Sem-5 & B.Com Course, Sem-5
Co-author (First Author) of Cyber Crimes and Laws for B.Com (H) Course, Sem-4 & B.Com Course, Sem-3
These works are published by Taxmann. She has also contributed various e-lessons to the National Mission on Education and the Virtual Learning Program of the Institute of Lifelong Learning Centre (ILLL). Professor Arora is a life member of two professional bodies: the Institute of Commerce Association and the Institute of Accounting Association, Delhi NCR Chapter
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