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Fundamentals of Laws and Ethics (Paper-3) CMA Foundation

Syllabus

SECTION A: FUNDAMENTALS OF COMMERCIAL LAWS [70 MARKS]
1. Indian Contracts Act, 1872 - 40%
  • Essential elements of a contract, offer and acceptance
  • Void and voidable agreements
  • Consideration, legality of object and consideration
  • Capacity of Parties, free consent
  • Quasi-contracts, Contingent contracts
  • Performance of contracts
  • Discharge of contracts
  • Breach of Contract and Remedies for Breach of Contract
2. Sale of Goods Act, 1930 - 20%
  • Definition
  • Transfer of ownership
  • Conditions and Warranties
  • Performance of the Contract of Sale
  • Rights of Unpaid Vendor
  • Auction Sales
3. Negotiable Instruments Act, 1881 - 10%
  • Negotiable Instruments–Characteristics of Negotiable Instruments
  • Definitions of Promissory Note, Bill of Exchange and Cheque
  • Difference between Promissory Note, Bill of Exchange and Cheque
  • Crossing – Meaning, Definition and Types of Crossing.

SECTION B: FUNDAMENTALS OF ETHICS [30 MARKS]
4. Ethics and Business - 30%
  • Ethics – Meaning, Importance
  • The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability, Openness, Honesty and Leadership
  • The relationship between Ethics and Law
  • Ethics in Business