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Common Proficiency Test Syllabus - Session 1 (Paper1)
(Two Sections, Two hours, 100 Marks)
Section B : Mercantile Law (40 Marks)
Objectives :
To test the general comprehension of elements of mercantile law
Contents :
1. The Indian Contract Act, 1872 : An overview of Sections 1 to 75 covering the general nature of contract, consideration, other essential elements of a valid contract, performance of contract and breach of contract.
2. The Sale of Goods Act, 1930 : Formation of the contract of sale - Conditions and Warranties - Transfer of ownership and delivery of goods - Unpaid seller and his rights.
3. The India Partnership Act, 1932 : General Nature of Partnership - Rights and duties of partners - Registration and dissolution of a firm.
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