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BUSINESS REGULATORY FRAMEWORK B.COM I Semester Karishma Birthare Assistant Professor Faculty of Law, PES  UNIT - 1 The Laws of Contract and Intellectual Property Laws ...

BUSINESS REGULATORY FRAMEWORK B.COM I Semester Karishma Birthare Assistant Professor Faculty of Law, PES  UNIT - 1 The Laws of Contract and Intellectual Property Laws  UNIT - 1 COURSE CONTENT OF UNIT 1 An overview of Sections 1 to 75 covering the general nature of contract Consideration under Contract Law Other essential elements of a valid contract Performance of contract Breach of contract Contingent and Quasi Contract Overview of Intellectual Property: Meaning of IPR Indian Patent Laws and WTO Patent Rules: Meaning of IPR, Invention and Non- invention Procedure To Get Patent Restoration and surrender of lapsed patent, infringement of patent UNIT 1: The Laws of Contract and Intellectual Property Laws Meaning of Law  UNIT 1: The Laws of Contract and Intellectual Property Laws Meaning of Business Law Business Law is also called as Commercial law or Mercantile Law UNIT 1: The Laws of Contract and Intellectual Property Laws  UNIT 1: The Laws of Contract and Intellectual Property Laws INTRODUCTION The law relating to contracts in India is contained in the Indian Contract Act, 1872 UNIT 1: The Laws of Contract and Intellectual Property Laws INTRODUCTION The law relating to contracts in India is contained in the Indian Contract Act, 1872. UNIT 1: The Laws of Contract and Intellectual Property Laws INTRODUCTION Social agreements Domestic agreements  UNIT 1: The Laws of Contract and Intellectual Property Laws The Indian Contract Act is divided into two parts: Section 1-75 General principles of the law of contract Section 124- Special kinds of 238 Contracts  UNIT 1: The Laws of Contract and Intellectual Property Laws CONTRACT = AGREEMENT + ENFORCEMENT BY LAW Legal obligation arising out of agreement UNIT 1: The Laws of Contract and Intellectual Property Laws Agreement enforceable by law is a contract  UNIT 1: The Laws of Contract and Intellectual Property Laws According to section 2 (h) of the Indian Contract Act, “An agreement enforceable by law is a contract” AGREEMENT = OFFER + ACCEPTANCE  UNIT 1: The Laws of Contract and Intellectual Property Laws AGREEMENT According to section 2 (e) defines agreement as, “Every promise and every set of promises, forming the consideration for each other, is an agreement.” THANK YOU Karishma Birthare Assistant Professor Faculty of Law, PES