Mercantile Law B.com Third Semester

SYLLABUS

Unit I – Indian Contract Act, 1872

• Essentials of a valid contract: Offer & acceptance, consideration, capacity, free consent, legality

• Void agreements, discharge and breach of contract, remedies

• Special contracts: Indemnity & Guarantee, Bailment & Pledge, Agency

Unit II – Sale of Goods Act, 1930

• Definition and essentials of a sale contract

• Distinction between sale and agreement to sell

• Express & implied conditions and warranties, doctrine of caveat emptor (exceptions)

• Transfer of ownership, performance of contract, rights of an unpaid seller

Unit III – Negotiable Instruments Act, 1881 (Amended 2015)

• Negotiable instruments: Concept, classification (promissory note, bill of exchange, cheque)

• Parties, endorsement, holder‑in‑due course, privileges

• Dishonour of cheque and associated penalties (Sections 138–142) 

Unit IV – Emerging Topics (If included)

• Electronic Contracts / IT Act 2000

• Newer provisions on cybersecurity and digital signatures (occasionally covered under a merged law paper)