CA Foundation Business Laws study guide
CA Foundation Business Laws · Work through your exam, one topic at a time.
CA Foundation Business Laws is the law paper of the entry-level Foundation course of the Indian chartered accountancy route, examined by the Institute of Chartered Accountants of India (ICAI). It is written for aspirants who have just finished school or are switching into commerce and audit careers, and it functions as a gateway: until you clear the Foundation level you cannot begin the Intermediate study that leads to articleship and membership. The CA Foundation Business Laws study guide has 10 sections and about 3,497 words.
01Indian Contract Act, 1872 - Nature, Offer, Acceptance and Consideration
This domain tests how a promise becomes an enforceable contract under the Indian Contract Act, 1872. Expect fact patterns on invitation to offer, communication of offer and acceptance, revocation, and whether consideration exists.
323 words, about 2 min02Indian Contract Act, 1872 - Capacity, Free Consent, Void and Voidable Agreements, Contingent and Quasi Contracts
Capacity, consent and validity: who can contract, when consent is free, and whether an agreement is void or voidable. Contingent contracts and quasi-contracts are tested through short problem scenarios.
326 words, about 2 min03Indian Contract Act, 1872 - Performance, Discharge, Breach and Remedies
Performance, discharge and remedies: when obligations are fulfilled, how a contract ends, and what damages or equitable relief follow breach. Performance must match the promise (s 37); tender of performance must be unconditional and made at the proper time and place (s 38).
332 words, about 2 min04Indian Contract Act, 1872 - Indemnity, Guarantee, Bailment, Pledge and Agency
This domain covers indemnity, guarantee, bailment, pledge and agency: the parties, rights, duties and termination rules under the Indian Contract Act, 1872. Indemnity (s 124): one party promises to save the other from loss caused by the promisor or another person.
357 words, about 2 min05Sale of Goods Act, 1930
The Sale of Goods Act, 1930 tests sale versus agreement to sell, conditions and warranties, passing of property and risk, delivery, and the unpaid seller's remedies. Section 4 defines a contract of sale: transfer of property in goods for a price.
319 words, about 2 min06Indian Partnership Act, 1932
The Indian Partnership Act, 1932 tests the definition of partnership, tests of partnership, authority and liability of partners, registration effects, admission, retirement and dissolution. Section 4 defines partnership as a relation between persons who agree to share profits of a business carried on by all or any of them acting for all.
342 words, about 2 min07Limited Liability Partnership Act, 2008
The Limited Liability Partnership Act, 2008 tests incorporation, the LLP agreement, partners and designated partners, contribution, liability, authority, accounts and winding up. An LLP is a body corporate with perpetual succession and a separate legal entity (s 3).
389 words, about 2 min08Companies Act, 2013 - Preliminaries, Incorporation, Prospectus and Allotment
Company preliminaries, incorporation, prospectus and allotment: corporate personality, formation documents, public offers and the rules for valid allotment. A company is a company incorporated under the Companies Act, 2013 or an existing company (s 2(20)).
338 words, about 2 min09Companies Act, 2013 - Share Capital, Members, Charges, Management, Dividends, Audit and Accounts
Share capital, members, charges, management and administration, dividends, audit and accounts: the machinery of a company after incorporation. Share capital includes authorised, issued, subscribed and paid-up capital.
375 words, about 2 min10Negotiable Instruments Act, 1881
The Negotiable Instruments Act, 1881 tests the three instruments, negotiation and endorsement, holder in due course, dishonour, crossing, and the s 138 cheque-bounce remedy. A promissory note (s 4) is an unconditional written promise to pay a certain sum to a specified person or bearer.
396 words, about 2 min