Business Law

►Business law is a broad area of law. It covers many different types of laws and many different topics. Business law, also called commercial law or mercantile law, the body of rules, whether by convention, agreement, or national or international legislation, governing the dealings between persons in commercial matters. This App explains generally what business law is and how it's used.✴

►Business law encompasses all of the laws that dictate how to form and run a business. This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. Business laws establish the rules that all businesses should follow. A savvy businessperson will be generally familiar with business laws and know when to seek the advice of a licensed attorney. Business law includes state and federal laws, as well as administrative regulations. ✴

✦ Starting a Business ✦

►Much of business law addresses the different types of business organizations. There are laws regarding how to properly form and run each type. This includes laws about entities such as corporations, partnerships and limited liability companies. For example, let's say I decide to start my own pet grooming business. I need to decide what type of business I want to be. Will this be a partnership? Will it be a sole proprietorship? What papers do I need to file in order to start this business? These questions fall under the laws that govern business entities, which are state laws. The type of entity I pick will also affect how I pay my income taxes. ✴

【Topics Covered in This App are Listed Below】

⇢ Business Law Overview
⇢ What is a Company?
⇢ Meaning and Nature of Company
⇢ Classification of Companies
⇢ Principle of Separate Legal Existence
⇢ Business Law - The Corporate Veil
⇢ Duties of Separate Legal Existence
⇢ Conversion from a Private Company to a Close Company
⇢ Close Corporation
⇢ Partnership
⇢ Trusts
⇢ A Sole Proprietorship
⇢ Liabilities & Rights of Promoters
⇢ Formation of a Company
⇢ Private Company and Public Company
⇢ Memorandum of Association Concepts
⇢ Meaning of Memorandum of Association
⇢ Clauses of Memorandums
⇢ Contents of the Memorandum of Association
⇢ Business Law - Articles of Association
⇢ Meaning of Association
⇢ Definitions used in Articles
⇢ Business Law - Shares
⇢ Types of Preference Shares
⇢ Equity Shares
⇢ Transfer & Transmission of Shares
⇢ Buy-back of Shares
⇢ Business Law - Directors
⇢ Powers of Directors
⇢ Duties of Directors
⇢ General Duties of a Director
⇢ Liabilities of Directors
⇢ Liabilities under the Companies Act
⇢ Appointment of Directors
⇢ Qualifications of Directors
⇢ Removal of Directors
⇢ Business Law - Winding Up of a Company
⇢ Powers of a Liquidator
⇢ Compulsory Winding Up
⇢ Consequences of Winding Up
⇢ Circumstances in which a Company May Be Wound Up
⇢ Winding Up of the Company by Tribunal
⇢ Procedure for Winding Up of a Company
⇢ Voluntary Winding Up
⇢ Members’ Voluntary Winding Up
⇢ Creditors’ Voluntary Winding Up
⇢ Business Law - Company Meetings
⇢ Statutory Meeting
⇢ Annual General Meeting
⇢ Meeting of BoD
⇢ Business Law - Various Laws and Acts
⇢ Business Law - Law of Contract Act
⇢ Essential Elements of a Valid Contract
⇢ Contract of Indemnity and Guarantee
⇢ Business Law - Law of Sale of Goods
⇢ Important Sections
⇢ Business Law - Law of Arbitration
⇢ Business Law - Law of Carriage of Goods
⇢ Carriage of Goods by Land
⇢ Carriage of Goods by Rail
⇢ Business Law - Consumer Protection Act
⇢ Business Law - Industrial Disputes Act
⇢ Business Law - Factories Act
⇢ What is a 501(c) organization?