CMA Inter Paper 5: Business Laws and Ethics study plan

State the essentials of a valid contract under the Indian Contract Act, 1872 and distinguish offer, acceptance and invitation to offer with one self-made example each

Classify contracts on the basis of validity, formation and performance, and label ten short fact patterns into the correct class

Explain consideration, privity of contract and the exceptions to the privity rule, writing the leading rule statements from memory

Apply the rules on capacity of parties and free consent (coercion, undue influence, fraud, misrepresentation, mistake) to at least eight fact situations

Draft a one-page summary chart of the legal consequences of void, voidable and illegal agreements

Explain the rules relating to performance of contracts, including tender, reciprocal promises and time as an essential element

Distinguish discharge of contract by performance, agreement, impossibility, lapse of time and breach, citing the operative section for each mode

Compute remedies for breach, covering damages under sections 73 and 74, remoteness of damage and liquidated damages versus penalty

Summarise the doctrine of frustration and identify three situations that do not amount to frustration

Solve five problem questions on quasi-contracts and restitution, stating the section applied in each

Differentiate a contract of indemnity from a contract of guarantee, listing the parties and the liability of each in a comparison table

Explain the rights and discharge of a surety, including the effect of variance in terms, release of the principal debtor and invalidation of the guarantee

Distinguish bailment from pledge and state the duties of a bailee, the rights of a pawnee and the rules on lien

Classify the modes of creation of agency and the grounds on which agency terminates, with one illustration for each

Explain the personal liability of an agent and the doctrine of undisclosed principal

State the essentials of a contract of sale and distinguish a sale from an agreement to hire purchase and from a sale on approval

Explain the rules on transfer of property and the doctrine of nemo dat quod non habet together with its exceptions

Apply the conditions and warranties framework, including caveat emptor and its exceptions, to five problem scenarios

Explain the rules on unpaid seller's rights, including lien, stoppage in transit and resale

Distinguish the types of negotiable instruments and explain the rules on holder in due course, negotiation, endorsement and dishonour, including the position on notice of dishonour

State the essentials of a partnership under the Indian Partnership Act, 1932 and distinguish it from a limited liability partnership and a company

Explain the rules on implied authority of a partner, the effect of a minor as a partner and the modes of dissolution of a firm

Explain the incorporation procedure for an LLP under the LLP Act, 2008, including the LLP agreement and the consequences of non-filing

Outline the steps for incorporation of a company under the Companies Act, 2013, covering name reservation, the documents required and the effect of the certificate of incorporation

Explain the rules on prospectus, deemed prospectus, misstatement and the civil and criminal liability for misstatement

Explain the types of share capital, the rules on allotment, issue at premium and discount, and the restrictions on buy-back and reduction of capital

Distinguish a member from a shareholder and explain the modes of acquiring and losing membership, including the rules on calls and forfeiture

Explain the rules on board meetings, general meetings, notice, quorum, resolutions and the consequences of a defective meeting

Explain the rules on declaration and payment of dividend, including the transfer to reserves and the consequences of unpaid dividend

Outline the provisions on maintenance of books of account, financial statements, audit and the filing of returns

Summarise the key obligations on employers under the Factories Act, 1948, the Payment of Wages Act, 1936, the Bonus Act, 1965 and the Gratuity Act, 1972, including thresholds and time limits

Explain the coverage, contribution and benefit rules under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 and the ESI Act, 1948

Outline the machinery for settlement of industrial disputes, including conciliation, arbitration and adjudication

Explain the rights of a consumer and the redressal machinery under the Consumer Protection Act, 2019

State the core prohibitions under the Competition Act, 2002, the FEMA, 1999 and the Prevention of Money Laundering Act, 2002

Explain the concepts of business ethics, ethical dilemmas and the distinction between ethics, law and morals with two workplace examples

Outline the principles of corporate governance, the role of the board and the concept of corporate social responsibility

Revise every domain using the error logs prepared in earlier weeks, re-solving only the questions previously answered wrongly

Attempt two full-length mock papers under timed conditions and analyse the score by domain

Prepare a one-page list of the sections and definitions most often confused across the eight domains