Mercantile Law for the CA Common Proficiency Test

Cover
Contents
Preface to the Second Edition
Preface
About the Author
Chapter 1: The Indian Contract Act, 1872
	1.1 The Basics of the Indian Contract Act, 1872
		Some facts About the Act
			What is a Contract?
			Essential Elements of Valid Contracts–Sec 10
			Difference Between Agreement and Contract
			Types of Contracts or Classification of Contracts
			Difference Between Void and Voidable Contract
			Difference Between Void and Illegal Agreement
			Similarities Between Void and Illegal Agreements
	1.2 Offer and Acceptance of the Offer
		Essential elements of an offer (Proposal)
			Legal Rules as to Offer
			Classification of Offer or Kinds of Offer
			Legal Effects of Counter Offer
			Lapse of Offer–When Offer Comes to an End?
			Legal Rules for the Acceptance
			General Rules as to Communication of Acceptance
	1.3 Capacity of Party
		Capacity of party
		Minor
			Effect of Minor’s Agreement
			Different Position of a Minor
			Minor’s Liability for Necessities
			Person of Unsound Mind
			Person Disqualified by Law
	1.4 Consideration
		What is Consideration?
			Types of Consideration
			Essentials of a Valid Consideration
			Stranger to Consideration
			Stranger to Contract
			Exception to the Rule of— Stranger to Contract
			Exception to Rule— “No Consideration No Contract”-Sec 25
			Promise to Charities
	1.5 Free Consent
		Meaning of consent-Sec 13
		Free Consent-Sec 14
			Coercion
			Certain Threats Do Not Amount to Coercion
			Undue Influence
			When is a Person Deemed to be in a Position to Dominance of will of Others?
			In Which Cases, is there no Presumption of Dominance of Will?
			Difference Between Coercion and Undue Influences
		Fraud
			Essential Elements of Fraud
			Exception to the Rule— Silence is not Fraud
			Effects of Fraud
			Misrepresentation
			Essential Elements of Misrepresentation
			Consequences of Misrepresentation
			Difference Between Fraud and Misrepsentation
			Similarities Between Fraud and Misrepresentation
		Mistake
			Difference Between Unilateral Mistake and Bilateral Mistake
	1.6 Void Agreement and Contingent Contract
		When Object or Consideration is Unlawful-Sec 23
			An Agreement Opposed to Public Policy
		Agreements in Restraint of Trade-Sec 27
		Agreement in Restraint of Legal Proceedings-Sec 28
			Agreements Unlawful in Part
		Wagering Agreement-Sec 30
			Essentials of Wagering Agreement
			Examples of Wagering Agreement
			Examples which are not Held as Wagering Agreement
			Effects of Wagering Agreement
			Illegal Agreement
		Contingent Contract-Sec 31
			Essential Features of Contingent Contract
			Uncertain Agreement
			Whether the following are Uncertain Agreements?
			Difference Between Wagering Agreement and Insurance Contract
			Difference Between Void Agreement and Void Contract
			Difference Between Wagering Agreement and Contigent Contract
	1.7 Performance of the Contract
		Effects of valid tender
			Essentials of Valid Tender
			Types of Tender
			Contract Which Need not to Perform
			Who Must Perform the Contract?
		Performance of Joint Promise-Sec 42-45
			Who Can Demand Performance of Contract?
			Kinds of Reciprocal Promise
			Rules Regarding Performance of Reciprocal Promise
			Appropriation of Payments
	1.8 Discharge of Contract
		Discharge of contract on Performance
			Discharge by Mutual Agreement or by Implied Consent
			Difference Between Novation and Alteration
			Difference Between Rescission and Alteration
			Discharge by Impossibility of Performance
			Initial Impossibility or Pre-contractual Impossibility
			Supervening Impossibility or Post-contractual Impossibility
			Specific Grounds of Subsequent Imposibilities
			Cases Where Contract is not Discharged on the Ground of Supervening Impossibility
		Discharge of Contract by Lapse of Time
			Discharge of Contract by Operation of Law
			Dischare of Contract by Breach of Contract
		Actual Breach of Contract
			Anticipatory Breach of Contract
	1.9 Remedies for the Breach of Contract
		Rescission of Contract-Sec 39
			Effect of Rescission of Contract
			When can Court Grant Rescind Contract ?
			Suit for Damages
		Kinds of Damages
			Suit for Specific Performance
			Suit for Injunction
			Quantum Meruit
		Quasi Contract
			Cases of Quasi Contract
			Difference Between Quasi Contract and Contract
	Mulitple Choice Questions
		The Basics of the Indian Contract Act ,1872
		Offer and Acceptance of the Offer
		Capacity of the Party
		Consideration
		Free Consent
		Void Agreements and Contigent Contract
		Performance of Contract
		Discharge of Contract
		Remedies for Breach of Contract
	Answer key
Chapter 2: The Indian Partnership Act, 1932
	Applicability of the Act
		Essential Characteristics of Partnership
		Difference Between Partnership and Hindu Undivided Family
		Difference Between Partnership and Association
		Difference Between Partnership and Co-ownership
		Difference Between Partnership and Club
		Registration of Firm-Sec 56–71
		Types of Partners
	Who can be a Partner in a Firm?
		Partnership Property-Sec-14
		Authority of Partner-Sec 19 and 22
		Partner’s Authority in Emergency
		Difference Between Dissolution of Partnership and Dissolution of Firm
		Settlement of Accounts
		Garner vs Murray Rule
		Mode of Giving Public Notice
	Multiple Choice Questions
	Answer key
Chapter 3: The Sale of Goods Act, 1930
	Applicability of the act
	Some definitions
		Whether the Following are Goods?
		Essential Elements of Valid Contract of Sales
	Transfer of “Property in Goods”
		Difference Between Sale and Agreement to Sell
		Difference Between Sale and Hire Purchase
		Difference Between Sale and Bailment
	Contract for Work and Skill
		Types of Goods
		Price of Goods-Sec 9-10
		Consequences of Destruction of Specific Goods-Sec 7-8
	Conditions and Warranties
		Implied Conditions
		Implied Warranties
		Difference Between Condition and Warranty
		Doctrine of Caveat Emptor
		Transfer of Ownership of Specific Goods-Sec 20-22
		Transfer of Ownership in Case of Goods Sent on Approval or on Sale or Return Basis-Sec 24
		Passing of Risk
		Rules Regarding Delivery of Goods-Sec 32-39
	Unpaid Seller
		Rights of an Unpaid Seller
		Right of Lien
		Right of Stoppage in Transit-Sec 50 to 52
		Right of Resale
		Right to Withhold Delivery of Goods
		Delivery to Carrier
		Sale by Non-Owners or Transfer of Title by Non-Owners-Sec 27-30
		Auction Sale–Sec 64
		Delivery of Goods in Contract by Sea Route
	Multiple Choice Questions
	Answer key
Chapter 4: Mock Tests
	Mock Test 1
	Mock Test 2
	Mock Test 3
	Mock Test 4
	Mock Test 5
	Answer key
Appendix
	The Indian Contract Act , 1872
		List of Sections Particulars
	Partnership Act 1932
		List of Sections Particulars
	The Sale of Goods Act , 1930
		List of Sections Particulars