Laws and Ethics (Paper-6) CMA Inter Group 1

SECTION A: COMMERCIAL LAWS [30 MARKS]
1. Indian Contracts Act, 1872

•  Essential elements of a contract, offer and acceptance
•  Void and voidable agreements
•  Consideration
•  Legality of object
•  E-contracts
•  Constraints to enforce contractual obligations
•  Quasi-contracts, contingent contracts, termination or discharge of contracts
•  Special contracts: Indemnity and Guarantee; Bailment and Pledge; Laws of Agency

2. Sale of Goods Act, 1930

• Definition
• Transfer of ownership
• Conditions and Warranties
• Performance of the Contract of Sale
• Rights of Unpaid Vendor
• Auction Sales

3. Negotiable Instruments Act, 1881

• Definition and features of Negotiable Instrument
• Crossing, Endrosement and Material Alteration
• Acceptance, Assignment and Negotiation
• Rights and Liabilities of Parties
• Dishonor of a Negotiable Instrument

4. Indian Partnership Act, 1932

• Nature of Partnership
• Rights and liabilities of Partners
• Formation, Reconstitution and Dissolution of Firms

5. Limited Liability Partnership Act, 2008

• Concept, formation, membership, functioning
• Dissolution

SECTION B: INDUSTRIAL LAWS: OBJECTS, SCOPE AND APPLICABILITY OF THE FOLLOWING ACTS. [25 MARKS]
6. Factories Act, 1948
7. Payment of Gratuity Act, 1972
8. Employees Provident Fund Act, 1952
9. Employees State Insurance Act, 1948
10. Payment of Bonus Act, 1965
11. Minimum Wages Act, 1948
12. Payment of Wages Act, 1936
13. Pension Fund Regulatory and Development Authority Act, 2013]

SECTION C : CORPORATE LAWS [35 MARKS]
14. Companies Act, 2013

• Company types, promotion, formation and related procedures i.e, Sec 1 to Sec 122 of Companies Act, 2013
• Director-Role, Responsibilities, Qualification, disqualification, appointment, retirement, resignation, removal, remuneration and powers, Directors Identification Number

SECTION D : ETHICS [10 MARKS]
15. Business Ethics

• Ethics – meaning, importance, nature and relevance to business
• Values and attitudes of professional accountants
• Seven principles of public life-selflessness, integrity, objectivity, accountability, openness,
• honesty and leadership
• Ethics in Business