Corporate Law- Introduction

Scope of Corporate Law

WHAT IS IT All ABOUT
The course would focus on corporate Laws
and laws pertinent to Corporate Business
Significance for business students and other
stake holders
It revolves around the standards that govern
relationships among individuals and between
people and governments. In broader
spectrum, it includes every rule or regulation
that affects the way in which individuals and
organizations conduct business.

Corporate LAW
Purpose/ Objectives
Understanding by the business managers of
the nature of legal system of Pakistan and
functions of our legal system
Understanding
prime
law
of
landConstitution
Constitutional guarantees, constraints with
respect to business.
Law and process of legislation
Cognizance of Contractual rights & obligations

Corporate LAW
Purpose/ Objectives
Knowledge of legal requirements to
organize a particular type of business,
particularly corporate entity
Course is designed to meet the
requirements of business managers.
Basic purpose is to develop critical and
legal
understanding
amongst
the
participants and legal appreciation of
various events/business activities and
scenarios .

Starting Point

What is Law
Sources of Law
Objectives of Law
Analysis of Law

Significance of Law
Significance/Importance of Law
Law is to maintain rights, uphold
justice
and redress wrongs. Law ensures
public order, balance, harmony,
peace and tranquility amongst the
persons within the state and interstates

Significance of Law
Law signifies a rule of action and is
applied to all kinds of action.
We are familiar with laws of nature,
laws of mechanics, laws of motion.
We are also conversant of laws of
honor, laws of morality and so many
other laws.

Glimpse of Some Statutes

Criminal Procedure Code. (Cr PC)
Civil Procedure Code (CPC)
Contract Act.
Banking Companies Ordinance
Sales Tax Act
Companies Ordinance etc.
Above are statutory enactments enforced
by Courts of law, in a system/society.
Hence law denotes entire body of legal
principles prevailing in a particular
system/society.

Law -- Defined
Law is not right alone or might alone, but a
perfect combination between two.
(Salmond)
Law is the command of sovereign
containing a common rules of life for his
subjects and obliging them to obedience
(John Erskine)

Coercion is a weapon of law which law has

forged, but it is not the basis of law
(De Montmorency)

Law -- Defined
Law is the body of principles
recognized or enforced by public or
regular tribunals in the
administration of justice
(Pound)
Law is the system of rights and
obligations which the state enforces
(Green)

Law -- Defined
You will not mistake my meaning or
suppose that I depreciate one of the
great human studies if I say that we
can not learn law by learning law. If it
is to be any thing more than just a
technique it is to be so much more
than itself; a part of history &
sociology, a part of ethics and
philosophy of life
(Lord Radcliff)

Criminal offence Versus Civil

Liability
Crime is an offence prohibited by law e-g;
tress passing, theft, Murder etc. In a criminal
case State is usually the prosecutor.
Persons proven guilty of crime are punished
by fines or imprisonment or both. In criminal
trial burden of proof to convict the accused
rests with the state, which must prove its
case beyond reasonable doubt.
Parties in Criminal Cases:
State (Prosecutor)
Versus
Accused
(Defendant)

Civil liability
Civil liability arises out of breach of
obligations e-g; breach of agreement, non
payment of loan as per terms of loan
agreement. Civil law regulates the disputes
over the rights and obligations of persons.
In civil proceedings case must be proved on
the balance of probability.

Parties in a Civil Suit:

Plaintif person who files the suit
Defendant/ Respondent Person
against whom suit is filed

Substantive Law
Substantive law defines rights.
This branch of law is concerned with
the purpose and subject matter of
litigation.
It is concerned with the objects of
administration of justice.

Procedural Law
It determines the process
remedies
or
procedures
enforcement of rights in courts.

for
for

It governs the process of litigation or

relates to actions or proceedings of
civil or criminal nature.

Procedural Law
Procedural law governs the relations
between court and litigants.
It deals with affairs in the courts.