Business Law
Business Law
Business Law
FOUNDATION COURSE
BUSINESS
LAWS
All care has been taken to provide interpretations and discussions in a manner useful for the students.
However, the Study Material has not been specifically discussed by the Council of the Institute or any of
its Committees and the views expressed herein may not be taken to necessarily represent the views of the
Council or any of its Committees.
Permission of the Institute is essential for reproduction of any portion of this material.
All rights reserved. No part of this book may be reproduced, stored in retrieval system, or transmitted, in
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permission in writing from the publisher.
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E-mail : bosnoida@icai.in
Price : ` 150/-
Published by : The Publication Department on behalf of The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, India.
The level of complexity of the study material is as per standards accorded by IAESB comprising an ideal
mix of subjective and objective examination pattern to ensure discerning students get through and seek
admission to the CA Course.
Laws in general, regulate the relationship of business and profession with the society. As Business forms
an integral part of the society, so, law is essential for regulating the rules by which people and businesses
interact with each other. Law affects almost every function and area of business. Without law there would be
chaos and there would be conflicts between social groups and commercial establishments.
As a student aspiring to become a Chartered Accountant, he should have knowledge of those legal
frameworks, which influences the business transactions. This paper on Business Laws intends to make the
students aware of legal background relating to business laws. It covers many different types of laws and
many different topics. The syllabus of Business Laws has been segregated into five chapters covering the
following:
We hope that the introduction to business Laws will set a good foundation for students to understand
significant provisions of select business laws and they will acquire the ability to address basic application-
oriented issues.
Also, for the benefit of the students, the chapters are inclusive of
• learning objectives and chapter overview at beginning of each chapter for better understanding.
• Step by step approach is followed in each chapter
We hope that students will find this study material user friendly and in case of any queries that they may
have while reading the material, they are welcome to write at bosnoida@icai.in