Preparation strategy for Business Law for CA Foundation Exam 2021

Business Law for CA Foundation

CA Foundation is the first time when a CA student is introduced to the world of Law. CA Exam is very different from college or Board exams. It requires professional and well-planned approach to enable the student to clear the examination in the first attempt.

CA Foundation Law Syllabus 

The CA Foundation Business Law syllabus comprises of the following Acts

  1. The Indian Contract Act, 1872
  2. The Indian Partnership Act, 1932
  3. The Sale of Goods Act, 1930
  4. The Companies Act, 2013
  5. The Limited Liability Partnership Act, 2008

The Indian Contract Act, 1872 and The Partnership Act, 1932 are the most important acts of the syllabus. Only the basic concepts of Companies Act, 2013 are introduced in Business Law for CA Foundation. A detailed study of the Companies Act is then covered at the CA Intermediate level.

Strategy to score excellent marks in Business Law:

  1. Refer Notes which cover the entire syllabus in legal yet simple and easy language. For best Law notes click here
  2. Go through all past exam questions to get an idea of the types of questions asked from each Act.
  3. Solve Revision Test Papers and Mock Test Papers. Click to download
  4. Time yourself. Write and practice at least 3 exam papers. For the Test series click here

Learning Tips

Since Law is a theory subject, you will have to memorize everything in the best way. Here are a few tips to help you remember the concepts thoroughly.

Focus on the head points of various answers wherever available. Write and practice those head points to remember them.

Highlight the key words in every answer. Write and Memorise those key words. If you know the key words, you can easily frame the sentence in your own words in the exam.
As far as possible, try to use legal and technical language and highlight the main keywords in your answer.

Make a list of Section numbers and read it every day till your exams. Though writing sections are not mandatory, writing them will surely give you an upper hand. But remember, do not quote section number if you are not confident. No section number is better than the wrong section number.

Here’s a video on how to remember section number.

Attempt unit wise and Act whose tests to assess yourself. (Click to download free test papers)

Apart from learning and understanding the key concepts and provisions, one of the major factors to score good marks in the Law paper is the presentation and style of writing answers in the exam.

Types of Questions

  1. Theoretical provision-based questions
  2. Practical case-study based questions

The approach of answering both these types of questions is different.

How to Answer Theoretical provision-based questions
These questions are direct questions based on the concepts. These questions do not require any special preparation but instead require a set approach to writing them.
Write the answer in point format. Underline the heading and leave a line after every point. Write examples wherever required.

How to Answer Practical Case-Study based Questions
It is very important to read and understand the question clearly in the first reading itself. For this, while reading the question, one should clearly identify the requirement of the question and try to recollect the topics or topics to which the question relates.

Break your answer into 3 paragraphs

Paragraph 1- 
Mention the section number, Name of Case Law (if any) and the theory to which the question or case relates.

Paragraph 2-
In the second paragraph, discuss the facts of the case and arrive at the solution.

Paragraph 3-
The final conclusion or recommendation should be mentioned in this paragraph. Conclusion can be written in just 2-3 sentences. You need not mention the provisions again as conclusion is not a place to introduce new arguments.

Remember students, there is no substitute for hard work. Planning, proper strategy and regular studies will help you to pass your CA Foundation exam in the first attempt. Do not wait for the last minute or your portion to get over to start planning your studies. Have a study plan clearly outlined to ensure that you study every subject and every topic thoroughly.

All the best

CA Preeti Aggarwal
Theorymasters Learning

For CA Foundation Law video lectures
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