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    CMA Foundation Syllabus 2016 (Paper 3): Fundamentals of Laws and Ethics


    PAPER - 3: FUNDAMENTALS OF LAWS AND ETHICS
    Section A : Fundamentals of Commercial Laws (70%)
    Section B : Fundamentals of Ethics (30%)
    1. Indian Contracts Act, 1872 40%
    2. Sale of Goods Act, 1930 20%
    3. Negotiable Instruments Act, 1881 10%
    4. Ethics and Business 30%
    Section A : Fundamentals of Commercial and Industrial Laws
    1. Indian Contracts 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 Types of Crossing.
    Section B : Fundamentals of Ethics
    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

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