Law of Business Associations

Students should be able to understand  the various forms of business associations.  Historical Development of sole proprietorship, cooperative and partnership as business association; formation and structure of sole proprietorship, cooperatives and partnerships;  the distinction between Cooperative Societies, Companies, Partnerships and other unincorporated associations; registration of cooperatives, partnerships,  rights and obligations of members; creation of agency relationships, rights, and duties of partners, settlement of disputes, dissolutions of cooperatives and partnerships, distribution of assets upon dissolution.  Common-law background and statutory development relating to business associations; types and classification of companies; formation and legal personality of a company; rights and duties of promoters, shareholders and directors; management of a company, types of company meetings; offences under the Companies Act; dissolution of companies, the regulatory framework of business associations and practical application of the law.