Business laws for CA
CA Foundation is the first time a CA student has been introduced to the world of law. CA exam is very different from college or board exam. A professional and well-planned approach is required to enable the student to crack the exam in the first attempt.
CA Foundation Law Syllabus
Chapter 1: The Indian Contract Act, 1872
Unit 1: Nature of Contracts
Unit 2: Consideration
Unit 3: Other Essential Elements of a Contract
Unit 4: Performance of Contract
Unit 5: Breach of Contract and its Remedies
Unit 6: Contingent and Quasi Contracts
Chapter 2: The Sale of Goods Act, 1930
Unit 1: Formation of the Contract of Sale
Unit 2: Conditions & Warranties
Unit 3: Transfer of Ownership and Delivery of Goods
Unit 4: Unpaid Seller
Chapter 3: The Indian Partnership Act, 1932
Unit 1: General Nature of a Partnership
Unit 2: Relations of Partners
Unit 3: Registration and Dissolution of a Firm
Chapter 4: The Limited Liability Partnership Act, 2008
Chapter 5: The Companies Act, 2013
The Indian Contract Act, 1872, and the Partnership Act, 1932 are the most important acts of the course. Business Law for CA Foundation only introduces the basic concepts of the Companies Act, 2013. The detailed study of the Companies Act is then covered at CA Intermediate level.
Strategies to score excellent marks in Business Law:
Check out notes that cover the entire syllabus in legal yet simple and easy language. Click Here For Best Law Notes to go through all the previous exam questions to get an idea of the types of questions asked from each act.
Solve Revision Test Papers and Mock Test Papers. click to download time yourself. Write and practice at least 3 exam papers. Click here for Test Series learning tips Since the law is a theoretical subject, you have to memorize everything very well. Here are some tips to help you memorize the concepts well.
Wherever available, note the key points of the various answers. Write down and practice those top points to remember them.
Highlight keywords in each answer. Write down and remember those keywords. If you know the keywords, you can easily frame the sentence in your own words on the exam.
As far as possible, try to use legal and technical language and highlight key keywords in your answer.
Make a list of section numbers and read it every day till your exam. Though writing the sections is not mandatory, but writing them will definitely give you a good chance. But remember, don't quote section numbers if you are not sure. No section number is better than a wrong section number.
Try and do unit-wise tasks whose tests self-assess. (Click to Download Free Test Paper)
Apart from learning and understanding the core concepts and provisions, one of the major factors to score good marks in the law paper is the presentation and style of writing the answers in the exam.
Types of Questions
theoretical provision based questions
Practical Case-Study Based Questions
The way of answering these two types of questions is different.
How to Answer Theoretical Provision-Based Questions
These questions are direct questions based on concepts. These questions do not require any special preparation rather a certain approach is required to write them.
Write the answer in point format. Underline the title and skip a line after each dot. Write examples wherever necessary.
How to Answer Practical Case-Study Based Questions
It is very important to read and understand the question clearly in the very first reading itself. For this one should clearly identify the need of the question while reading the question and try to remember the topics or topics to which the question is related.
Divide your answer into 3 paragraphs
paragraph 1-
Mention the section number, name of the case law (if any), and the principle to which the question or case pertains.
Paragraph 2-
In the second paragraph, discuss the facts of the case and arrive at a solution.
Paragraph 3-
The final conclusion or recommendation should be mentioned in this paragraph. The conclusion can be written in just 2-3 sentences. You need not mention the provisions again as the conclusion is not the place to introduce new arguments.
Remember students, there is no substitute for hard work. Planning, proper strategy, and regular study will help you crack the CA Foundation exam in the first attempt. Don't wait for the last minute or so until your part is over to start planning your studies. Clearly outline a study plan to make sure you study every topic and every topic thoroughly.
CA Foundation Law Chapter Wise Weightage
| Chapter Name | May 2018 | November 2018 | May 2019 | November 2019 | November 2020 |
Part A: Business Laws | |||||
Unit 1: Indian Contract Act, 1872 | |||||
| 1. Nature of Contract | – | – | – | – | – |
| 2. Offer & Acceptance | – | 8 | – | – | – |
| 3. Capacity to Contract | 2 | – | – | – | – |
| 4. Consideration | 5 | 3 | 4 | 7 | 2 |
| 5. Free Consent | 5 | – | 12 | 5 | 7 |
| 6. Legality of Object & Consideration | – | – | – | – | – |
| 7. Void Agreements | 2 | – | – | – | 9 |
| 8. Contingent & Quasi Contracts | – | 7 | – | 4 | – |
| 9. Performance of a Contract | 4 | – | – | 6 | 6 |
| 10. Discharge of a Contract | 6 | 4 | 6 | – | 2 |
Unit 2: Sale of Goods Act, 1930 | |||||
| 1. Formation of Contract of Sale | 4 | 4 | – | – | – |
| 2. Conditions & Warranties | – | 6 | 10 | 6 | – |
| 3. Transfer of Ownership | 6 | 6 | 6 | 4 | 16 |
| 4. Unpaid Seller | 6 | – | – | 6 | – |
Unit 3: Indian Partnership Act, 1932 | |||||
| 1. General Nature of Partnership | 4 | – | – | – | 2 |
| 2. Relations of Partners | 6 | 14 | 14 | 14 | 12 |
| 3. Registration of a Firm & Dissolution of a Firm | 6 | 4 | 4 | 4 | 4 |
Unit 4: Limited Liability Partnership Act, 2008 | |||||
1. Limited Liability Partnership Act, 2008 | 5 | 5 | 5 | 5 | 5 |
Unit 5: Companies Act, 2013 | |||||
| 1. Companies Act, 2013 | 13 | 13 | 13 | 13 | 13 |
Part B: Business Correspondence & Reporting | |||||
Unit 1: Communication | |||||
| 1. Communication | 10 | 10 | 10 | 10 | 10 |
Unit 2: Sentence Types & Word Power | |||||
| 2. Sentence Types | 5 | 5 | 6 | 6 | 6 |
| 3. Vocabulary | 7 | 7 | 7 | 7 | 7 |
| 4. Comprehension Passage | 5 | 5 | 5 | 5 | 5 |
| 5. Note-Making | 3 | 3 | 3 | 3 | 3 |
| 6. Precis Writing | 7 | 7 | 7 | 7 | 7 |
| 7. Article Writing | 5 | – | 5 | 5 | 5 |
| 8. Report Writing | – | 5 | 5 | 5 | 5 |
| 9. Letter Writing | 10 | 5 | 4 | 4 | |
| 10. E-Mail Writing | – | – | 4 | – | – |
| 11. Resume Writing | – | 5 | – | – | – |
| 12. Business Meeting | – | – | – | – | – |
| Total marks greater than 100 (Compulsory + Optional Questions) | 126 | 126 | 126 | 126 | 130 |
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