CMA FOUNDATION LAWS AND ETHICS SYLLABUS

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SECTION A: FUNDAMENTALS OF COMMERCIAL LAWS [70 MARKS]
1. Indian Contract Act, 1872
(a) Essential elements of a contract, offer and acceptance
(b) Void and voidable agreements
(c) Consideration, legality of object and consideration
(d) Capacity of Parties, free consent
(e) Quasi Contracts, Contingent Contracts
(f) Performance of Contracts
(g) Discharge of Contracts
(h) Breach of Contract and Remedies for Breach of Contract

2. Sale of Goods Act, 1930
(a) Definition
(b) Transfer of ownership
(c) Conditions and Warranties
(d) Performance of the Contract of Sale
(e) Rights of Unpaid Vendor
(f) Auction Sales

3. Negotiable Instruments Act,1881
(a) Negotiable Instruments –Characteristics of Negotiable Instruments
(b) Definitions of Promissory Note, Bill of Exchange and Cheque
(c) Differences between Promissory Note, Bill of exchange and Cheque
(d) Crossing – Meaning, Definition and Type of Crossing

SECTION B: FUNDAMENTALS OF ETHICS [30 MARKS]

4. Ethics and Business
(a) Ethics – Meaning, Importance
(b) The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability, Openness, Honesty
and Leadership
(c) The relationship between Ethics and Law
(d) Ethics in Business