BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Business law touches everyday lives through every contractual dealing undertaken. A contract, usually in the form of a commercial bargain involving some form of exchange of goods or services for a price, is a legally binding agreement made by two or more persons, enforceable by the courts.

Detailed explanation-2: -Commercial law, also known as mercantile law or trade law, is the body of law that applies to the rights, relations, and conduct of persons and business engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law.

Detailed explanation-3: -Contract Law 101 A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty.

Detailed explanation-4: -Such contracts are sometimes called parol contracts. Oral contracts may fail under different circumstances as set forth by the various statutes of frauds in each state or under the UCC, which each require that certain oral contracts or certain terms included therein be memorialized in writing to be considered valid.

Detailed explanation-5: -Contract law, on the other hand, manages the gatherings to a contract’s rights, obligations, and terms. Ans. All Indian Acts administering exchange or trade are covered under the Mercantile Law of India. For instance, the 1872 Indian Contract Act, the 1930 Sale of Goods Act, the 2013 Companies Act, etc.