Business Law Lecture 1 | AIOU 460/5413 | Intro to Contract Law, Acceptance & Consideration

Описание: 📘 AIOU Business Law / Mercantile Law – Course Codes: 460 & 5413
🎓 Lecture 1 | Workshop 1 | UNIT – 1
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In this first lecture of Business Law, we explore the foundation of Contract Law, explained in a clear and easy-to-understand manner with practical examples.

🔍 📚 Topics Covered in This Video:
✔️ 1.1 – Definition of Contract
✔️ What makes an agreement a legally enforceable contract?
✔️ Essential elements of a valid contract
✔️ 1.2 – Communication
✔️ How communication of offer & acceptance works under law
✔️ 1.3 – Revocation of Proposal & Acceptance
✔️ When and how an offer or acceptance can be cancelled
✔️ 1.4 – Acceptance to be Absolute
✔️ Why acceptance must be unconditional according to law
✔️ 1.5 – Express & Implied Contracts (Section 9)
✔️ Understanding expressed vs implied agreements
✔️ 1.6 – Consideration
✔️ What is consideration?
✔️ Why every contract MUST have consideration?

This lecture is perfect for AIOU students, commerce & business learners, and anyone preparing for Business Law exams.

🎓 Why Watch This Lecture?
Clear & exam-oriented explanation
Simple language and real-life examples
Helps in assignments, quizzes & workshop preparation
Based on AIOU official syllabus (Unit-1)

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