Introduction
Since Business operates in the legal and regulatory environment corporate executives and managers must understand the legal implications of their operating decisions. Understanding Business laws is vital to discharge their functions effectively.
Course Objective
The participants will be able to
- Develop an understanding of important laws affecting the business
- Improve quality of decision
- Improve the speed of execution
- Ensure legal issues are not overlooked
- Compliance is ensured and procedures followed with discipline.
- Legal Formulation of Contracts and Administrative Resolutions.
- Practical Knowledge of following
- The Indian contract Act ,1872, Sale of goods Act, 1930, Negotiable instruments Act,1881
- Understanding the significant role of proper and accurate determination of contract specifications, throughout the procurement cycle.
- To assess the legal importance of contract specifications, besides the strategic significance of the “Invitation to tenders” process.
Course Content :
- Skills and competencies of legal drafting.
- Major Contract Terms
- Risk and Different Contracting Types:
- Legal Interpretation.
- Applications and Examples in Writing Legal Memos.
- Stages and Mechanisms for preparation of Legal Advice.
- Contract preparation and conclusion skills.
- Legal Aspects of a Contract and its Relation to Changes, Variations, and Payment and Close-Out Issues:
- Negotiation and Dispute Resolution.
- Formulation of Documents, Memos, Statements, and Lega l Memoranda of various types.
- Writing contract specifications and procurement processes and analyzing the same.
- The legal importance of contractual specifications, and their relation to the process “Invitation to tender”.
- The doubtful and deficient descriptive specifications.
- Different types of specifications and the related risks.
- The impact of language on the meanings of contractual articles and legal conditions.
- Internal contracts within a Group – some dangers from ignoring the need for formal arrangements