WBCHSE HS Commercial Law and Preliminaries of Auditing study plan

Define a contract under the Indian Contract Act, 1872 and distinguish it from agreements that are void, voidable and unenforceable, writing one worked example of each.

Classify offers as specific, general, express or implied, and state the rules governing a valid offer including communication and revocation.

Apply the rules of valid acceptance to at least six short fact patterns and justify in one sentence why each acceptance succeeds or fails.

Explain the doctrine of consideration, including past, present and future consideration, privity of contract and its exceptions, with statutory references.

Identify persons incompetent to contract (minor, unsound mind, disqualified by law) and state the legal effect of a minor's agreement, including restitution and necessaries.

Distinguish coercion, undue influence, fraud, misrepresentation and mistake, and state the remedy available for each when consent is not free.

Test the legality of object and consideration against Sections 23 to 30, including agreements in restraint of trade, marriage and legal proceedings.

Outline the modes of discharge of a contract, including performance, mutual agreement, impossibility, lapse of time and operation of law.

Compute damages under Sections 73 and 74, distinguishing ordinary, special and remote loss, and list the remedies of rescission, specific performance and injunction.

Differentiate a contract of indemnity from a contract of guarantee and identify the parties, the surety's liability and the circumstances in which the surety is discharged.

State the rights of a surety against the principal debtor and the creditor, including subrogation and contribution.

Distinguish bailment from pledge, and set out the duties of the bailor and bailee and the pawnee's rights on default.

Define agency, list the modes of creating an agency, and explain the extent of an agent's authority including apparent and ostensible authority.

Explain termination of agency and the agent's duties, lien and liability for secret profit.

Distinguish a condition from a warranty and state the consequences of breach of each, including the buyer's right to treat the contract as repudiated.

Apply the implied conditions and warranties under the Sale of Goods Act, 1930 to fact patterns on title, description, sample, fitness and merchantability.

Explain the rule of caveat emptor and its statutory exceptions.

Trace the rules governing transfer of ownership in specific and unascertained goods, including the nemo dat rule and its exceptions.

Set out the unpaid seller's rights of lien, stoppage in transit and resale, and distinguish them from the right of suit.

Define a negotiable instrument under the Negotiable Instruments Act, 1881 and state the characteristics of a promissory note, bill of exchange and cheque.

Identify the parties to each instrument and their liabilities, including the drawer, drawee, acceptor, maker, payee and endorser.

Distinguish a bill of exchange from a cheque and a promissory note on parties, acceptance, crossing and stamp requirements.

Define auditing and state its primary and secondary objectives, distinguishing audit from accountancy and from investigation.

Classify audits by ownership, scope and time, and describe the statutory, internal, continuous, interim, tax and cost audit types.

Draft an audit programme for a small trading concern covering cash, purchases, sales, stock and fixed assets.

Explain the purpose, contents and ownership of audit working papers and the distinction between permanent and current files.

Evaluate the types of audit evidence and rank them by reliability, applying the concepts of sufficiency and appropriateness.

Explain audit sampling, including statistical and non-statistical methods, sampling risk and the factors affecting sample size.

State the rights, duties and liabilities of an auditor under the Companies Act, and distinguish civil from criminal liability for negligence.

Draft a qualified and an unqualified audit report, correctly placing the opinion paragraph and the basis for qualification.

Revise all Commercial Law chapters by rewriting the key definitions and sections from memory in a condensed note.

Solve at least 40 objective questions and 10 short-answer questions across contract, indemnity, guarantee, bailment, pledge and agency.

Re-attempt every previously wrong answer and record the correct rule with its section reference.

Time yourself on one full-length commercial law section under exam conditions.

Revise Sale of Goods, Negotiable Instruments and Auditing through rapid recall of definitions, classifications and statutory provisions.

Practise two full-length mock papers covering all eleven domains under strict timing.

Review the error log from weeks 1 to 7 and close every unresolved gap.

Prepare a final one-page summary of frequently confused pairs such as condition and warranty, lien and stoppage in transit, and audit and investigation.