Reference no: EM132343150

Business Law

Course main Aim/Goal

This course is designed to enable the student understand the legal framework within which business is conducted.

General Objectives:

1. Understand the law of contract, sale of goods, etc.

2. Understand the law as it relates to supply of labour, goods and services

3. Know the Law of Agency

4. Know the Law of Partnership

5. Know the Law of Insurance

6. Understand Negotiable instruments

7. Know the Law of Hire Purchase

8. Understand the Law of Common Carriage.

1.1 Define Law of Contract.

1.2 Explain existence of Contractual relations.

1.3 Explain conditions for a valid contract.

1.4 Explain law relating to sale of good.

1.5 Explain the Sale of Goods Act.

1.6 Explain the principle of transfer of property and risk.

Explain the nature of contract and the conditions for a valid contract.

Explain the law relating to sale of goods.

Cite relevant cases.

2.1 Describe a valid contract for sale of goods and/or supply of goods and services.

2.2 Explain the principles of vicarious liability as it applies to employees and employers.

2.3 Recognize the consequence to the employer when other place orders for supply of goods.

Explain and supply good valid contract for sale and services.

Explain the principles of vicarious liability consequence arising and the there from.

Cite relevant cases.

3.1 Define Agency

3.2 Explain the nature of Agency

3.3 Explain types of Agents

3.4 State duties and responsibilities of an Agent.

3.5 Explain disclosed and undisclosed principals and the legal consequences.

3.6 Identify factors leading to termination of Agency.

3.7 Explain the rights of principal and third party after termination of Agency.

Explain the law of agency, its nature, types of agents, duties and responsibilities.

Explain disclosed and undisclosed principals and the legal consequences.

Explain factors leading to termination of agency.

Explain the rights of principal and third party after termination.

Cite relevant cases. Give assignment..

4.1 Define Partnership

4.2 Classify partnership

4.3 Explain formation of partnership.

4.4 Explain the rights and duties of partners

4.5 Explain the legal position and consequences arising from action of partners with third parties.

4.6 Identify factors leading to dissolution of partnerships.

4.7 Explain the handling of partnership assets and liabilities upon dissolution.

Explain the law of partnerships, nature and classification.

Explain the rights and duties of partners.

Explain the legal position and consequence arising from action of partners with third party.

Explain the factors leading to dissolution of partnership.

Describe how partner-ship assets and liabilities are handled upon dissolution.

Conduct Test.

5.1 Define Insurance

5.2 Define the concept of insurable interest

5.3 Explain the concepts of (i) indemnity (ii) subrogation

5.4 Explain the doctrine of uberrimae fidei.

5.5 Identify various types of insurance policies and their legal applications.

5.6 Explain re-insurance

Explain the law and concept of insurance.

Explain the doctrine of uberrimae fidei.

Explain the types of insurance policies and their legal applications.

Explain re-insurance.

6.1 Define Negotiable Instruments

6.2 Identify various types of Negotiable Instruments and note

6.3 State the use and functions of Negotiable instruments in business transactions.

6.4 Mention parties to Negotiable instruments

6.5 Explain the rights of interested third parties

Explain the nature and types of Negotiable Instruments and notes.

Explain the uses and functions of Negotiable Instruments in business transactions.

Explain the parties to Negotiable Instruments and the rights of third parties.

7.1 Explain the nature of hire purchase transaction.

7.2 Distinguish hire purchase from other forms of secured credit - mortgage, credit sale, conditional sale, pledge and lien, loan and asset leasing.

7.3 Explain the obligations of owner and hirer under hirepurchase transactions.

7.4 Explain the legal rights of hirer and owner against the third party.

7.5 Explain the legislation regulating hire purchase in Nigeria - Hire Purchase Act 1965 and subsequent amendments

Explain the nature and Law of Hire purchase.

Explain the difference between

Hire purchase and other forms of secured credit.

Explain the legal obligations to Hire purchase transactions.

Explain the hire purchase legislation in Nigeria.

Cite relevant cases. Conduct Test.

8.1 Define common carriage.

8.2 Explain the law as it relates to carrier, breaches in carriage and remedies.

Explain the nature and law of common carriage.

Explain breaches in carriage and remedies.

Cite relevant cases.