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LahoreUniversityofManagementSciences

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?