Chapter 1 Indian contract Act 1872

Definition of law 1 Nature of law of contracts Scope of Indian contract act 1872 4 Structure of Indian contract Act of 1872 Contract 6 Requirement of contract Difference between agreement and a contract 8 Essentials elements of valid contract 9 Classification of contracts 13 Types on the basis of mode of formation or creation of contracts 14 Express Implied Quasi Types on basis of execution or performance Executed 15 Executor Partly executed Unilateral and bilateral Classification of contracts on form of contracts Format and Simple contract 16 Classification on validity of enforceability 16 Void Illegal or unlawful Unforeseeable Offers and acceptance 18 Types of proposals or offers Essentials or rules of valid offer Lapse of an offer Acceptance 25 Legal rules or essential of a valid contract Provisions of contract act regarding communication of offer (Proposal) 28 Acceptance and revocation 28 Consideration 31

Elements of valid or lawful consideration Past consideration 33 Present consideration Future consideration Exceptions of rule No consideration, no contract Kinds of consideration Capacity of partners 42 Agreements with the minors Persons of unsound mind 45 Free consent Coercion Undue influence 49 Partnership woman Fraud 52 Misrepresentation 55 Mistake of law Unilateral Bilateral Legality of object and consideration 61 Unlawful and illegal agreements 62 Void agreements Contingent contract 65 Wagering agreements Performance of contract 70 Kinds of tender 71 Contract which need not be performed By whom must contracts be performed? Reciprocal promised and rules regarding their performance 77 Time and place of performance of a contract Time of performance of contract Appropriation of payments Assignment of contract 81 Discharge of contract 82 Remedies for breach of a contract Damages Quasi contract 90

Chapter 2 Contract of agency

Agent and principal 102

Essential elements of relationship of agency Test of agency 104 Diff between agent and servant Creation of agency 106 Essentials of agency by estoppels 109 Agency by holding out Agency by necessity 111 Husband and wife Ratification 114 Classification of agents and types of agent Special agent General Universal Co- agents 122 Substituted 123 Agent authority 128 Delegation of authority by agent 133,138 Rights, duties and liabilities of and agent to his principal Rights, duties and liabilities of principal to his agent 145 Termination of agency 150 Irrevocable Death of principal Death of agent 159

Chapter-3 Partnership Act 1932

Introduction 166 Nature of partnership 166 Definition of firm, business, third party Define partnership, partner 167 Element / features of partnership Membership Agreement Business Sharing of profit 171 Principal 173 Test of partnership Types of partnership and partners 175,178

Formation of partnership and registration of partnership firm 180 Partnership deed Registration of firms Time of registration of firm Procedure of registration 182 Changes in particular Rectification of mistakes 184 Effects of non registration 184 Register of firm Mutual relations of partners 187 Rights of partners Duties and liabilities of partners Provision relating to property of the firm 193 Relations / Liability of partners to third partners 195 Provision relating to rights of transferee of partners interest Provision relating to liability for holding out 199 Provision relating to minor partner 202 Provision relating to incoming and outgoing partner 205 Admission of partner Modes of dissolution of a firm 211 Difference between partnership and company 223 Difference between partnership and joint Hindu family business Difference between partnership and co ownership 226 Difference between partnership and club or society 227

Chapter 4 Sale of goods act 1930

Introduction 235 Contract of sale of goods Sale and agreement to sell 236,241 Essentials of a Contract of sale of goods Formalities of a Contract of sale of goods 238

Goods Existing Goods Future Goods Contingent Goods Effects of destruction of goods or perishing goods 239 Ascertainment or price 240 Sale and hire purchases agreement 243 Conditions and warranties 245 Express and implied 247 Doctrine of Covect emptor Consent of Freud 253 Transfer of property or ownership 253 Passing property from seller to buyer Reservation of right of disposal 257 Passing of risk 257 Transfer of title by non owners 258 Performance of the contract of sales Rights of unpaid seller and remedial measures 265 Difference between right of lien and right of stoppage in transit Right of resale 269 Right to with hold the delivery of goods Right of unpaid seller against the buyer personally Sale by auction 271

Inland and foreign instrument 293 Diff between bills of exchange and promissory note Diff between bills of exchange and Cheque Parties to negotiable instrument 296 Capacities of parties to the negotiable instrument 298 Holder and holder in due course 300 Negotiating and types of endorsement 305 Dishonor of negotiable instrument 311 Noting and protest Presentment 319 Discharge of liability on negotiable instrument 322

Chapter 6 Consumer protection act 1986

Introduction 333 Extent, commencement and application of the Act 334 Amendments made in Act 1991 Amendments made in Act 1993 Amendments made in Act 2002 Aims and objects of the Act 337 What is not a consumer? 341 A person Goods Services Spurious goods and services 346 Manufacturer Consumer dispute 347 Complain Restrictive trade practices Unfair trade practice Defect Deficiency 354 Members Consumer protection Central consumer protection council

Chapter 5 Negotiable instrument Act 1881

Introduction 277 Define negotiable instrument Types of negotiable instrument 281 Bills of exchange Promissory note Cheque 284 Trade bill and accommodation bill Documentary and clean bill Inchoate instrument 291 Ambiguous Escrow Bills in seeds 293

District forums 362 State commission 276 National commission Finality of orders 392

Chapter 7 Companies act of 1956

Introduction 411 Meaning of company Features of companies 415 Types of companies 421 On basis of liability Companies limited by shares Companies limited by guarantee Unlimited companies 421 On basis of mode of corporation Charted companies Statutory 421 Registered On basis of ownership Private Public Government 426 On basis of jurisdiction of functioning 426 National International Foreign On basis of control and or share holding 427 Holding Subsidiary One man Association not for profit Existing Consequences of illegal association 430 Incorporation of a company 430 Stages involved in corporation of a company Procedure of registration of company 432 Article of association 433,437 Certificate of incorporation 434 Memorandum of association 437

Provisions with respect to names of companies 443 Section pertaining to article of association 447 Sections pertaining to memorandum and article Section pertaining to membership of company 453 Section pertaining to private companies Lieu of prospectus Diff between memorandum of association and article of association 460 Prospectus 462 Powers of SEBI Duties towards small investors Registration of prospectus Shelf prospectus 473 Statement in lieu of prospectus Diff between prospectus and lieu of prospectus Share capital 483 Accounts and audit 490 Inspections of books of account 492 Form and contents of balance sheet and P&L account 496 Board report Annual account Auditors appointment 513 Powers and duties of auditors Penalty for non compliance 520 Audit of cost accounts 521 Provision relating to directors 524 Company Meetings 540