Business Laws and Ethics Question Paper Pattern and Syllabus [CMA Intermediate Paper 5 (Group-I) ]

Business Laws and Ethics
Question Paper Pattern and Syllabus

CMA Intermediate Paper 5 (Group-I)

Papers 5: BUSINESS LAWS AND ETHICS (BLE)

Marks: 100

Module No.	Module Description	Weight
	Section A: Commercial Laws	30%
1	Introduction to Law and Legal System in India.	5%
2	Indian Contract Act, 1872.	10%
3	Sale of Goods Act, 1930.	5%
4	Negotiable Instruments Act, 1881.	5%
5	Indian Partnership Act, 1932.	5%
6	Limited Liability Partnership Act, 2008.
	Section B: Industrial Laws	15%
7	Factories Act, 1948.	10%
8	Payment of Gratuity Act, 1972.
9	Employees Provident Fund and Miscellaneous Provisions Act, 1952.
10	Employees State Insurance Act, 1948.
11	The Code of Wages, 2019.	5%
	Section C: Corporate Laws	40%
12	Companies Act, 2013.	40%
	Section D: Business Ethics	15%
13	Business Ethics and Emotional Intelligence.	15%

Business Laws and Ethics Question Paper Pattern

This Paper is divided into Two Section

Section A (Compulsory): Multiple Choice Questions and Answers (MCQs) – 15 *2 = 30 Marks

Section B: 5 Questions of 14 Marks each out of total 7 Questions is to be attempted – 5 * 14 = 70 Marks

Business Laws and Ethics Important Section

1. Commercial Laws

- Indian Contract Act, 1872

- Sale of Goods Act, 1930

- Negotiable Instruments Act, 1881

- Partnership Act, 1932 and LLP 2008

2. Industrial Laws – It is better to avoid this section if you have limited time

3. Corporate Laws – Most Important Section. It carries highest Marks

4. Business Ethics – Most Important and Easiest Part

Business Laws and Ethics Important Questions (Chapter wise)

Section A: Commercial Laws

1. Indian Contract Act, 1872. - Quasi Contract - Contingent Contract - Contract of Indemnity and Contract of Guarantee - Bailment – Duties of Bailor and Bailee

2. Sale of Goods Act, 1930. - Meaning of sale and agreement to sale, essential elements and Difference

3. Negotiable Instruments Act, 1881. - Endorsement – Meaning and Types - Negotiation and Assignment – Meaning, Types and Difference

4. Indian Partnership Act, 1932. - Dissolution of Partnership and Dissolution of firms, Rights and liabilities of Partners in case of dissolution - Grounds for dissolution of partnership

Limited Liability Partnership Act, 2008.

Section B: Industrial Laws  - It is better to avoid this section

Section C: Corporate Laws

Companies Act, 2013. - Companies Act provisions relating to Buy back of shares, Issue of secured debentures and bonds - Rights of shareholders - Qualification, disqualification, Appointment and removal of director - Rights, Duties and Liabilities of Directors - Audit Committee - Contents of audit reports - Board of Directors – Formation, Powers

Section D: Business Ethics

Business Ethics and Emotional Intelligence. - Meaning, need and Nature of business ethics - Emotional intelligence

Paper 5 Business Laws and Ethics Syllabus 2022 Course

SECTION A: COMMERCIAL LAWS

1. Introduction to Law and Legal System in India.

1.1 Introduction to the Constitution of India.

1.2 Fundamental Rights.

1.3 Sources of Law.

1.4 Primary and Subordinate Legislations.

1.5 Legislative Process in India.

1.6 Legal Methods including Judicial Alternative Dispute Resolution (ADR) Process in India.

1.7 Legal Terminology and Maxims.

2. Indian Contracts Act, 1872.

2.1 Essential Elements of a Contract, Offer and Acceptance.

2.2 Void and Voidable Agreements.

2.3 Consideration.

2.4 Legality of Object.

2.5 E-contracts - Essential Requirements for Enforceability.

2.6 Constraints to Enforce Contractual Obligations.

2.7 Quasi-contracts, Contingent Contracts, Termination or Discharge of Contracts.

2.8 Assignment of Contractual Rights and Obligations.

2.9 Representations and Warranties.

2.10 Impossibility and Force Majeure.

2.11 Termination by Novation.

2.12 Tender Procedure of Government Contract.

2.13 Special Contracts - Indemnity and Guarantee; Bailment and Pledge; Laws of Agency.

3. Sale of Goods Act, 1930.

3.1 Essential Conditions of a Contract of Sale.

3.2 Transfer of Ownership.

3.3 Conditions and Warranties.

3.4 Performance of the Contract of Sale.

3.5 Rights of Unpaid Seller.

3.6 Auction Sales.

4. Negotiable Instruments Act, 1881

4.1 Definition and Features of Negotiable Instrument.

4.2 Crossing, Endorsement and Material Alteration.

4.3 Acceptance, Assignment and Negotiation.

4.4 Rights and Liabilities of Parties.

4.5 Dishonour of a Negotiable Instrument (with Special Emphasis on Section 138).

5. Indian Partnership Act, 1932

5.1 Nature of Partnership.

5.2 Rights and Liabilities of Partners.

5.3 Formation, Reconstitution and Dissolution of Firms.

6. Limited Liability Partnership Act, 2008

6.1 Concept, Formation, Membership, Functioning.

6.2 Dissolution.

SECTION B: INDUSTRIAL LAWS

7. Factories Act, 1948

8. Payment of Gratuity Act, 1972

9. Employees Provident Fund and Miscellaneous Provisions Act, 1952

10. Employees State Insurance Act, 1948

11. The Code on Wages, 2019

SECTION C: CORPORATE LAWS

12. Companies Act, 2013

12.1 Company Types, Promotion, Formation and Related Procedures (Sec 1 to Sec 122 of Companies Act, 2013).

12.2 Director - Role, Responsibilities, Qualification, Disqualification, Appointment, Retirement, Resignation, Removal, Remuneration and Powers, Directors Identification Number.

12.3 Operational and Financial Control.

12.4 Internal Financial Control for Financial Reporting (Section 134, 143 and 177).

12.5 Rights of Shareholders.

12.6 Key Managerial Personnel.

SECTION D: BUSINESS ETHICS

13. Business Ethics and Emotional Intelligence.

13.1 Ethics – Meaning, Importance and Nature.

13.2 The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability, Openness, Honesty and Leadership.

13.3 The Relationship between Ethics and Law.

13.4 Business Ethics and its Relevance to Business.

13.5 Values and Attitudes of Professional Accountants.

13.6 Primary Norms of Business Ethics - Honesty, Accountability etc., the Application in Decisions regarding Employers, Finance and Trading.

13.7 Internal Code of Ethics.

13.8 Ethics in Business Dealings.

13.9 Case Study on Business Ethics.

13.10 Emotional Intelligence (Concept and Importance).