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    CMA Intermediate Syllabus 2016 (Paper 6): Laws and Ethics


    PAPER - 6: LAWS AND ETHICS
    Section A: Commercial Laws 30%
    Section B: Industrial Laws 25%
    1. Indian Contract Act, 1872
    2. Sale of Goods Act, 1930
    3. Negotiable Instruments Act, 1881
    4. Indian Partnership Act, 1932
    5. Limited Liability Partnership Act, 2008
    6. Factories Act, 1948
    7. Payment of Gratuity Act, 1972
    8. Employees Provident Fund Act, 1952
    9. Employees State Insurance Act, 1948
    10. Payment of Bonus Act, 1965
    11. Minimum Wages Act, 1948
    12. Payment of Wages Act, 1936
    Section C: Corporate Law 35%
    Section D: Ethics 10%
    13. Companies Act 2013
    14. Business Ethics


    Section A : COMMERCIAL LAWS
    1. Indian Contracts Act, 1872
    (a) Essential elements of a contract, offer and acceptance
    (b) Void and voidable agreements
    (c) Consideration
    (d) Legality of object
    (e) e-contracts
    (f) Constraints to enforce contractual obligations
    (g) Quasi-contracts, contingent contracts, termination or discharge of contracts
    (h) Special contracts: Indemnity and Guarantee; Bailment and Pledge; Laws of Agency
    2. Sale of Goods Act, 1930
    (g) Definition
    (h) Transfer of ownership
    (i) Conditions and Warranties
    (j) Performance of the Contract of Sale
    (k) Rights of Unpaid Vendor
    (l) Auction Sales
    3. Negotiable Instruments Act, 1881
    (a) Definition and features of NI
    (b) Crossing, Endorsement and Material Alteration
    (c) Acceptance, Assignment and Negotiation
    (d) Rights and liabilities of Parties
    (e) Dishonor of a Negotiable Instrument.
    4. Indian Partnership Act, 1932
    (a) Nature of Partnership
    (b) Rights and liabilities of Partners
    (c) Formation, Reconstitution and Dissolution of Firms
    5. Limited Liability Partnership Act, 2008
    a) Concept, formation, membership, functioning
    b) Dissolution
    SECTION B: INDUSTRIAL LAWS: Objects, Scope and applicability of the following acts.
    6. Factories Act, 1948
    7. Payment of Gratuity Act, 1972
    8. Employees Provident Fund Act, 1952
    9. Employees State Insurance Act, 1948
    10. Payment of Bonus Act, 1965
    11. Minimum Wages Act, 1948
    12. Payment of Wages Act, 1936
    SECTION C: CORPORATE LAWS
    13. Companies Act 2013
    a) Company types, promotion, formation and related procedures i.e, Sec 1 to Sec 122 of Companies Act, 2013.
    b) Director-Role, Responsibilities, Qualification, disqualification, appointment, retirement, resignation, removal, remuneration and powers, Director Identification Number.
    SECTION D: ETHICS
    14. Business Ethics:
    a) Ethics-meaning, importance, nature and relevance to business
    b) Values and attitudes of professional accountants.
    c) Seven principles of public life-selflessness, integrity, objectivity, accountability, openness, honesty and leadership.
    d) Ethics in Business:

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