mgmt 260-business law
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Lahore University of Management Sciences
Suleman Dawood School of Business
Business Law
Spring Semester, 2011
Instructor: M. Anum Saleem1
Office: Room 254, ACF Wing
Email: [email protected]
Course Description: The knowledge of Corporate Law has become vital and
important due to rapid development of corporate sector in particular and business in
general. The broad objectives of the Companies Ordinance, 1984 as laid down in itspreamble are healthy growth of the corporate enterprises, protection of investorsand creditors,promotion of investmentand development of economy.
Each of these themes is equally essential and comprehensive and makes up the
foundations of the modern economic reality. Therefore, it is necessary that the
Managers running the organizations have a grip over all the concepts, legal as well
as financial, of a company; the modern day corporate enterprise to successfully
create value for the companys stakeholders.
Goals of the Course:Business Law is designed to provide management students
with the opportunity to think clearly, refine their decision-making skills and trainthemselves to approach the problems analytically. Primarily based on covering and
understanding the relevant statutes, the course will be devoted to dissection of the
legal provisions in the first instance before its application to the common real world
problems.
By the end of the term, we will also try to solve the Riddle. What do business
lawyers actually do apart from being non productive actors in an economy ? Do they
actually create any value or act as Kurt Vonnegut2; a Law Professor puts it in an
amusing way:
In every big transaction, there is a magic moment during which a man has
surrendered a treasure and during which the man who is due to receive it
has not yet done so. An alert lawyer will make that moment his own,possessing the treasure for a magic microsecond, taking a little of it, before
passing on. If the man who is to receive the treasure is unused to wealth, hasan inferiority complex and shapeless feeing of guilt, as most people do, the
lawyer can often take as much as half the bundle, and still receive the
recipients blubbering thanks.
1 LL.M. (U of T. Canada), Advocate High Court2 Kurt Vonngut, God Bless you, Mr. Rosewater 17-18 (1965)
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Required texts: Primary
Relevant sections of the following statutes
The Carriage of Goods by Sea Act 1925
The Contract Act 1872
The Partnership Act 1932The Negotiable Instruments Act 1881
The Sale of Goods Act 1930
The Trusts Act 1920
The Companies Ordinance, 1984
Secondary
Caselaw and other relevant material in the shape of handouts
Prerequisites for this course: None.
Reading Hours: Each session will require approximately 5-6 hours of Reading in
advance for a useful discussion on the topics being covered. C.P. will be marked for
relevant discussion only.
In addition, as the Legal Concepts will be novel for the students, it will take some
time to come upto speed. The Contact Hours will remain constant at 100 Minutes.
In each session, there will be 3-4 students On-Call who might be asked to answer
queries of their classmates. The on Call students will be rotated for each class.
Lectures: This is a 4-unit course. There will be 28 sessions of 100 minutes each.
Grading:
Class Participation + Attendance: 10%
Surprise Quizzes (There will be 8 quizzes of 4% each with two drop quiz): 24%
Midterm (In Class): 20%
Final Exam (In Class): 36%
Presentations: 10%
Session Required reading Statute1. Introduction to Law and Jurisprudential
questions
2. Bills of Lading and Bulk Cargo & Ch. 1
of Contract Act
The Carriage of Goods by Sea Act
1925 and The Contract Act, 1872
3. Sections 10-30 The Contract Act, 1872
4. Chapter 31-59 Do
5. Sections 61-74 and Indemnity/Guarantee Do
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Ch.
6. Bailment Ch. Do
7. Agency Ch. Sections 182-218 Do
8. Agency Ch. Sections 219-238 and S. 1-28 of Partner ship Act The Partnership Act
9. Sections 29-55 The Partnership Act
10. Sections 1-35 The Negotiable Instruments Act
1881
11. Sections 36-70 Do
12. Sections 71-104 Do
13. Sections 105-136 Do
14. Section 1-30 The Sale of Goods Act 1930
15. Sections 31-65 Do
16. Trust, Trustee, powers, beneficial owner The Trusts Act 1920
17. Mid-term Do
18. Sections 1 to 51 The Companies Ordinance, 1984
19. Sections 52 to 85 Do
20. Sections 86-117 Do
21. Sections 118-156 Do
22. Sections 157-192 Do
23. Sections 193-208 Do
24. Sections 209-239 Do
25. Sections 240-265 Do
26. Presentation
27. Presentation
28. Presentation
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