Negotiable Instruments Act: Definition of negotiable instrument. Promisory note, Bill of
Exchange and cheques. Parties to negotiable instrument. Discharge of parties from liability.
Dishonour of a negotiable Instrument – Liabilities of Banker and drawer for dishonour of a
Law of Insurance: Definition and elements of insurance contract, premium and reinsurance.
Basic idea about life, fire, and marine insurance.
Law of carriage: Basic features of law relating to land, air, and sea carriers.
Company Law: Definition and nature of a company, characteristics of a company.
Difference between partnership and company. Formation of Company – Memorandum and
articles of association. Issue of prospectus and membership of company, liability of a
member. Share Capital: types of shares, allotment and transfer and purchase by a company
of its own shares.
Company Management: Appointment and removal of directors. Rights and liabilities of
Meetings: Statutory meetings, Basic knowledge of various types of resolutions.
Protection of minority shareholders from mismanagement and oppression.
Winding up by court and voluntary winding up.