📕 CA Foundation Paper 2: Business Laws – Syllabus + Smart Study Plan

 

📕 CA Foundation Paper 2: Business Laws – Syllabus + Smart Study Plan

Welcome again to Towards the CA Tag!

After covering Paper 1: Accounting, it’s time to crack another crucial subject — Paper 2: Business Laws.

This paper explores the legal foundation of businesses, including contracts, partnerships, and company basics. With proper planning and clarity, you can easily score 60+ here.

📘 Paper 2: Business Laws – Overview

Objective:

To develop an understanding of basic legal concepts relevant to business and apply them in real-world scenarios.

• Type: Subjective (Descriptive answers)

• Duration: 3 Hours

• Total Marks: 100

• Passing Marks: 40%

• Nature: Theoretical + Case study-based questions

📚 Detailed Syllabus of Business Laws

The syllabus includes 5 important Acts, each with practical application and real-life implications:

🔹 1. The Indian Contract Act, 1872

📖 Most important – weightage around 35–40%

Key Topics:

• Essentials of a Valid Contract

• Offer & Acceptance

• Consideration

• Capacity to Contract

• Free Consent

• Legality of Object

• Performance and Discharge of Contract

• Breach of Contract & Remedies

• Quasi Contracts

• Contingent Contracts

🧠 Case law-based questions are common – focus on logic, not memorization.

🔹 2. The Sale of Goods Act, 1930

Key Topics:

• Formation of Contract of Sale

• Conditions vs Warranties

• Transfer of Ownership

• Unpaid Seller Rights

• Performance of Contract of Sale

📦 Real-life trading situations are covered here. Understand seller-buyer rights clearly.

🔹 3. The Indian Partnership Act, 1932

Key Topics:

• General Nature of Partnership

• Partnership vs LLP vs Joint Venture

• Rights & Duties of Partners

• Implied Authority

• Registration & Effects

• Dissolution of Firm

👥 Practical law – many questions come from daily business scenarios.

🔹 4. The Limited Liability Partnership Act, 2008

Key Topics:

• Introduction & Features

• Differences between LLP and Partnership

• Incorporation & Partners’ Rights

• Liability and Dissolution

🔐 Only basic knowledge required – objective-style questions often asked.

🔹 5. The Companies Act, 2013 (Basics Only)

Key Topics:

• Types of Companies

• Incorporation of Companies

• Memorandum & Articles of Association

• Company vs Partnership

• Doctrine of Ultra Vires, Indoor Management, Constructive Notice

🏢 Focus on definitions and basic concepts only – no deep ROC or compliance rules.

📅 4-Week Study Plan for Paper 2: Business Laws

Here’s a balanced plan covering concept clarity, case law application, and writing practice.

✅ Week 1: Master the Contract Act – Part 1

Day	Topics
1	Essentials of a Valid Contract
2	Offer, Acceptance & Consideration
3	Capacity to Contract + Free Consent
4	Legality of Object + Case Laws
5	Discharge & Breach of Contract
6	Quasi & Contingent Contracts
7	Revise + Practice Case-Based Questions

✅ Week 2: Complete Contract + Start Sale of Goods Act

Day	Topics
1-2	Full revision of Indian Contract Act
3	Sale of Goods – Essentials + Conditions & Warranties
4	Transfer of Property + Performance
5	Unpaid Seller & Rights
6-7	Practice full paper (Contract + Sale of Goods)

✅ Week 3: Partnership & LLP

Day	Topics
1	Partnership – Nature, Types, Duties
2	Implied Authority + Minor as Partner
3	Registration & Dissolution
4	LLP Features & Incorporation
5	LLP vs Partnership
6	Revision + Practice Test
7	Write long-form answers (10 markers)

✅ Week 4: Company Law + Final Revision

Day	Topics
1	Company Types, Incorporation, MoA, AoA
2	Doctrines (Indoor Management, Ultra Vires)
3	Revise all Acts through Flashcards or Notes
4	Practice ICAI Case Laws (Past Papers)
5	Attempt Full-Length Mock Test
6-7	Final Touch-up & Cheat Sheet Review

✍️ Answer Writing Tips

• Use headings & subheadings

• Quote section numbers (where known)

• Use legal terminology (offer, acceptance, discharge, etc.)

• Give examples or short case references

• Write in point-wise format – clear and examiner-friendly

📌 Pro Tip:

Use ICAI’s official material + Scanner + Previous year papers to understand the question pattern. Focus more on application-based learning than rote learning.

🎯 Final Words

Business Laws might feel theory-heavy, but it’s highly scoring with the right approach. Focus on understanding concepts, analysing legal situations, and writing structured answers.

Next up on the blog: Paper 3 – Quantitative Aptitude (Maths, Stats & Logical Reasoning)!

Until then...

📣 Keep learning, keep revising — and keep moving Towards the CA Tag!