How to Prepare CA CPT Mercantile Law in 30 Days. In previous post we have given CPT classes free download Audio Lectures and Video Lectures for June 2015. Today we are providing Tips to pass CPT Mercantile Law, How to prepare / pass CPT Mercantile Law in 30 days, Chapter wise weightage details, Expected marks in each chapter and what are the Most repeated models in the exam. This article has given by a private institute ” Master Minds ” for the benefit of CPT students. Read below article !!

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Nature & Importance of CPT Mercantile Law

a) In CPT Mercantile Law, conceptual clarity is more important. So reading and understanding theory content is more important than practicing MCQs.

b) As it is a new subject to all the students, try to pay more attention on this subject.

c) For students coming from any background, this is the most scoring subject of all. The chances of getting difficult question paper in this subject are very less. At maximum you may get MCQs based on Practical Questions which will be time consuming to read.

d) Don’t forget that the same syllabus is there at IPCC also. If you prepare well now, then it will be useful even for your IPCC course. The same syllabus will be useful for you even for your B.Com Final year , CMA Foundation & CMA Inter.

e) On the basis of past examination trends, nearly 35 out of 40 MCQs will be very easy and direct questions.

f) Don’t try to have indepth analysis of MCQs in this subject. If you do so, you may get confused. Examiner is NOT EXPECTING EXPERT KNOWLEDGE from you, in this subject. Even while answering MCQs if you think deeply or think in multiple ways then the chances of picking up wrong answers will be high. Don’t think deeply while answering the MCQs.

g) Controversies are quite common in this subject. If you refer more number of text books, you will get confused because of differences in opinions among authors. So, it is always preferable to stick on to our material alone and also to accept the answer told by the faculty. Don’t dare to refer multiple text books for this subject.

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h) The chances of getting confused and picking up wrong option are high in this subject. So, think twice before coming to a conclusion.

i) If the Accounts subject is easy then the chances of getting difficult or lengthy questions in Mercantile Law will be more. In such a case, be more careful while answering MCQs in this subject.

Recent trends in question papers, challenges that you will face in this subject and how to face them?

Increase in number of MCQs on Practical questions & Case studies.Those MCQs will kill lot of time.

Students will stuck at those MCQs and they will also get disturbed psychologically.

Don’t ignore lengthy MCQs while preparing.

Case studies in our material will be given as Practical questions in the examination.

Think twice before coming to a conclusion.

Questions of the type WHICH OF THE FOLLOWING OPTIONS IS CORRECT / INCORRECT will be given which will be very confusing in nature and will kill lot of time. Be more attentive with respect to such type of questions.

Read thrice before coming to a conclusion.

Either try to pick up right option or try to eliminate wrong options and you will be left with correct option.

The question will be exactly same as a question that you might have already read in our material. But there might be changes in the options. As a result the chances of picking up wrong answer will be high in this subject. You will face this situation if you mug up the MCQs.

Correct classification of chapter will solve 50% of the issues.

Don’t jump into conclusion just by reading the question. Read the question as well options twice, before coming to a conclusion.

Chapters 10 & 11 – they are very important, have highest weight in the examination and may get complicated questions also. Acquire expert knowledge in those chapters.

Refer those chapters for multiple times.

Don’t ignore even in a single concept in those chapters.

How to Prepare CPT Mercantile Law in this Last Few Days?

a) No need to read question and answers given in the main material. Simply, read Fast Track Notes given for theory in fast track material. Then you prepare MCQs based on that knowledge.

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b) Don’t prepare this subject like any other theory subject. Just mugging the MCQs or theory content will not serve the purpose. Analytical thinking is very important in this subject.

c) Give lot of importance to all the areas that got updated recently especially Indian Partnership Act. Partnership Act has got amended due to changes in Company Law. We have also provided Supplementary material for this subject.

d) Case Laws and Examples will help you to get enough command over the subject. But it is not necessary to memorise all the Section numbers, Case studies, Author names and Definitions. If you can remember them then it is good. But, it is advisable to remember only the basic section numbers, case studies, author names and definitions.

e) Chapters to be concentrated more – Chapter 10 & 11. Nearly 20 to 25 marks may come from these 2 chapters alone.

Be Careful with the MCQ’s of Following Types in CPT Mercantile Law

You should be careful with the following MCQ’s in CPT Mercantile Law exam.

  1. “WHICH OF THE FOLLOWING IS CORRECT / INCORRECT?”
  2. TRUE OR FALSE STATEMENTS
  3. MCQs based on case studies
  4. MCQs based on Practical Questions.
  5. Many of the questions are asked negatively, rather than directly. Be more careful with such questions.

For example, “One of the following is not a characteristic of partnership firm”. To answer such a question, the student must not only know what are the characteristics of a partnership firm but also have knowledge of 0ther forms of organization, such as, Sole Proprietary, Joint Stock Company, Hindu Undivided Family etc.

  1. In some questions, one of the options may be either “None of these”. In 90% cases this option will not be the answer. Don’t be hurry in choosing this option, if given in any question.

How to Prepare CPT Mercantile Law in 30 Days

Here we are providing CPT Mercantile Law Chapter wise weightage details and Most repeated models in CPT Mercantile Law in previous exams. You should also focus on complicated models in CPT Mercantile Law.

No. Chapter Expected

Marks

Most repeated models in the exam Complicated models to be focused more
1 Meaning and Nature of contract 3 to 5 Contract, Agreement, Legal Enforceability; Essentials of Valid Contract; Types of Contracts on the Basis of Validity; Types of Contracts on the Basis of Formation Classification of Contracts as per English Law
2 Offer & Acceptance 1 to 3 Offer & Legal rules for Valid Offer; Specific Offer & General Offer; Cross Offers & Counter Offers; Invitation to Offer, communication of offer and Acceptance Communication of Offer & Acceptance; Revocation of Offer & Acceptance
3 Legal Object & Consideration 2 to 4 Essential Elements or Legal Requirements Regarding Consideration; Doctrine of Consideration & Its Exceptions; Agreements Opposed to Public Policy; Unlawful and Illegal Agreements. Doctrine of Privity of Contract and Its Exceptions
4 Capacity to contract 1 to 3 Legal Provisions relating to Contracts entered into by Minors; Supply of Necessaries to Incapable Persons Persons of Unsound Mind; Persons specifically Disqualified by Law
5 Free Consent 3 to 5 Coercion; Undue Influence; Fraud Mistake; Bilateral Mistake; Unilateral Mistake
6 Void Agreements, Quasi Contracts and Contingent Contracts 2 to 4 Agreements in Restraint of Trade and Its Exceptions; Wagering Agreements; Quasi Contracts; Contingent Contracts Agreements in restraint of Legal Proceedings and Its Exceptions; Uncertain Agreements; Payment of Lawful Dues by Interested Parties; Obligations of a Person Enjoying the Benefit of Non-Gratuitous Act, Wagering agreements, Contingent Contracts
7 Performance of Contract 0 to 3 Promisor and Promisee; Effect of failure to perform the contract in time Rules Regarding Time & Place of Performance of Contract; Appropriation of Payments; Devolution of Joint Rights and Liabilities; Reciprocal Promises
8 Discharge of Contract 0 to 2 Discharge of Contract through Supervening Impossibility and its Exceptions; Discharge of Contract through Mutual Agreement; Discharge of Contract through Breach of Contract. Discharge of Contract through Supervening Impossibility and its exceptions, Discharge of Contract through mutual agreement
9 Remedies for Breach of Contract 1 to 3 Nominal Damages; Vindictive Damages or Exemplary Damages Special Damages; Liquidated Damages and Penalty; Stipulation for Interest; Suit for Specific Performance; Quantum Meruit and Restitution
10 Indian Partnership Act, 1932 8 to 12 Partnership & Essential Elements of Partnership; True Test of Partnership; Registration of Partnership Firms; Disabilities of Non Registration of Partnership Firm; Types of Partnership; Types of Partners; Position of a Minor in a Partnership Firm; Rights of Partners; Implied Authority of Partners; Reconstitution of the Firm; Dissolution of Partnership & Firm Dissolution of a Firm by Order of Court; Settlement of Accounts on Dissolution; Rights & Liabilities of Partner on Dissolution, Implied Authority of a Partner.
11 Sale of Goods Act, 1930 6 to 12 Sale & Essential Elements of Sale; Agreement to Sell; Goods; Implied conditions; Implied Warranties; Doctrine of Caveat Emptor and Its Exceptions; Transfer of Property in Goods; NemoDat Quod Non Habet (i.e.,) Sale by Non-Owners and Its Exceptions; Delivery & Modes of Delivery; Rules relating to Delivery of Goods; Rights of Unpaid Seller; Auction Sale. Destruction of Specific Goods; Document of Title; Ascertainment of Price; Breach of Condition to be Treated as Breach of Warranty; Transfer of Property in case of Specific Goods; Transfer of Property in case of Unascertained / Future Goods; Transfer of Property in case of Goods sent on Approval; Transfer of Property in case of Right of Disposal; Unpaid Seller and Rights of unpaid Seller.

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