Explore Ca-Intermediate Paper 2 - Corporate And Other Laws (Free Webinar)
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Detailed Analysis: Syllabus
1.The Indian Contract Act, 1872
2.The Sales of Goods Act, 1930
3.The Indian Partnership Act, 1932
Objective: Test the general comprehension of elements of mercantile law
(i) The Indian Contract Act, 1872
• Overview of Section 1 to 75 covering Nature of Contract, Consideration, Other Essential Elements of a Valid Contract, Performance of Contract and Breach of Contract
(ii) The Sales of Goods Act, 1930
• Formation of Contract of Sale – Conditions and Warranties – Transfer of Ownership and Delivery of Goods – Unpaid Seller and his Rights
(iii) The Indian Partnership Act, 1932
• General nature of Partnership – Rights and Duties of Partners – Registration and Dissolution of Firm
Detailed Analysis: Syllabus
Unit 1: The Indian Contract Act, 1872
i) Nature of Contracts- Meaning, Essentials, Types of Contract; Offer and Acceptance- Meaning, Communication and Revocation.
ii) Consideration- Meaning, Legal requirements, Suit by Third Party and Agreements without Consideration.
iii) Other Essential Elements of Contract- Capacity to Contract, Free Consent and Elements vitiating free consent, Unlawful Object and Consideration, Agreements expressly declared Void.
iv) Performance of Contract- Who can perform a contract, Succession & Assignment, Effect of refusal to accept offer of performance, Effect of refusal of party to perform the promise, Liability of Joint Promisors, Rights of Joint Promisees, Time and Place of Performance of Promise, Contracts that need not be performed, Discharge of Contract.
v) Breach of Contract- Anticipatory Breach of Contract, Actual Breach of Contract, Liability for Damages and Calculation of Damages.
vi) Contingent and Quasi Contracts- Meaning, Types, Enforcement and Wagering Contracts.
Unit 2: The Sales of Goods Act, 1930
i) Formation of Contract of Sale- Important Definitions, Essentials of Contract of Sale, Contract of Sales and Agreement to Sell/Hire Purchase/Bailment, Formalities, Subject Matter and Ascertainment of Price.
ii) Conditions and Warranties- Meaning, Treating Condition as Warranty, Express and Implied Conditions and Warranties, Implied Warranties and Caveat Emptor.
iii) Transfer of Ownership and Delivery of Goods- Passing of Property, Passing of Risk, Transfer of Title, Delivery of Goods.
iv)Unpaid Seller- Meaning, Rights, Remedies of Buyer against Seller and Auction Sale.
Unit 3: The Indian Partnership Act, 1932
i) General Nature of Partnership- Meaning, Essentials Elements, True Test of Partnership, Difference between Partnership and Other Forms of Organisations, Types of Partnership and Partners.
ii) Relations of Partners- Mutual Rights and Duties of Partners, Partnership Property, Personal Profits Earned by Partners, Rights and Duties after Change in Constitution of Firm, Relation of Partners to the Third Parties, Implied Authority, Admission of Partner, Consequences of Partners Coming In and Going Out.
iii) Registration and Dissolution of Firm: Mode of effecting registration, Consequences of Non-registration, Dissolution of Firm, Consequences of Dissolution and Mode of giving Public Notice.