Order of PresentationBusiness Related Laws Difference b/w a Agreement

and a ContractTypes & Function of ContractFormation of ContractRevocation of ContractElements of Contract:

Proposal Consideration Consent Capacity to Contract

Questions, if any

Methodology – interacting with you

You will

retainEncourage you to share

You will understand

Engage you

You will remember

Demonstrate

you

You may not forget

Give You Presentation

Business Laws

Business Related Laws – include: Law of Contract Sales of Goods Act Negotiable Instruments Act Carriage of Goods Act Industrial Law – IRO 1969

ContractAn agreement

enforceable by law

Agreement = Prop + Cons + Accep

Contract = Agreement + Leg Oblig

Types of Contract: Social – farewell, picnic party Legal – selling computer

Function of a Contract

Proposal

Consideration

Acceptance

Contract

Counter Proposal

Counter Consideration

Re - Counter Proposal

Valid Contract - elements

Proposal

Consideration

Acceptance

Written

Registered

LegalRelationship

Lawfulconsideration

Capacity

To do or not to do

To do or not to do

• Age• Sound Mind• Not dis-qualified• Black-listed

• Age• Sound Mind• Not dis-qualified• Black-listed

Possibility ofperformance unambiguous

By

Muhammad Iqbal, CMILT, EM AMA

<iqbalarfeen@gmail.com>