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 Expected Questions for Jan 2025
Chapter as Per ICAI Business Laws
Topic Sub-Topic Expected In Jan 2025
1. Voidable Agreement vs Illegal Agreement or Void vs Voidable contract
The Indian Contract Act, 1872
2. Classification of offer (General special etc) OR Valid rules of Acceptance ( 7 Points)
(Nature of Contract - Unit 1 ) - Maximum one question
3. Essentials of a valid Offer including statement of price is not offer concept
of 2/3 Marks
4. Modes of Revocation of offer.
5. Rules of Acceptance (any point here can be a short case study question)

The Indian Contract Act, 1872 1. Privity of contract and exceptions ( Agency , Assignment , etc ) - VERY IMPORTANT
(Consideration - Unit 2 ) - Important for Jan 25

2. Legal Rules of consideration and definition of consideration. - VERY IMPORTANT

1. Person disqualified by law to enter into a contract / S.10 Void agreements(Expressly
declared - Arbitration etc) - Espe'cially the exceptions
2. Person disqualified by law - points under that - 2 marks
The Indian Contract Act, 1872 3. Essentials of Undue influence (Important )
(Other essential elements of a Valid Contract - Unit 3 ) - 4. Concept of Wagering Contract and what is not a wager
Expect more weightage in Jan 25
6. Minor and exceptions when minor can enter into a contract (VERY IMPORTANT)

7. Agreement opposed to public policy - Any of these can be case study questions
1. Discharge of a Contract - IMPORTANT
2. Sucession vs assignment
The Indian Contract Act, 1872 3. Time and place of performance of promise S. 46 to 50. (Important)
(Performance of a Contract - Unit 4 ) - Expect One 4. Joint promisor and concept where personal skill is involved
question - Maximum 5 Marks 5. S.64 & S.65 - Pg 1.87 in ICAI sm - important
6. Contract which need not be performed with the consent of parties and concepts
under that
1. Pre Fixed Damages ( Penalty vs Liquidated damages)
The Indian Contract Act, 1872
2. Suit for Specific performance
(Breach of contract and Remedies - Unit 5 ) - Mandatory
One question
3. Suit upon Quantum Meruit / Vindictive or exemplary damages
1. Contingent Contract Vs Wagering Contract
The Indian Contract Act, 1872
(Contingent Contract and Quasi Contract - Unit 6 ) -
2. What is contingent contract and rules - VERY VERY IMPORTANT FOR JAN 25 Exams
Contingent Contract concept 100% will come in Jan 25
Exams
3. Quasi - Minor and Necessity concept
1. Types of Goods and definition of goods - they may give cases and ask you to classify
into types of goods
The Sale of Goods Act,1930
2. Sale vs Agreement to sell difference (Important) - Table
(Formation of the Contract of sale - Unit 1)
3. Perishing of Goods at different time S. 7 and S.8 - May repeat as many missed it
4. Ascertained VS unascertained goods table can come as a long question
The Sale of Goods Act,1930
(Conditions and Warranties - Unit 2) - Important Unit for
Jan 25 Exams - ONE QUESTION FOR 4 MARKS IS 1. Implied Warranty is Important for the Exam ( 4 points under it )
MANDATORY 2. Caveat Emptor and exceptions - IMPORTANT for Jan 25 Exams
1. Passing of property in case of specific or ascertained goods.
The Sale of Goods Act,1930
2. Appropriation of goods in case of unascertained goods
(Transfer of Ownership and Delivery of Goods - Unit 3) -
3. Reservation of right of disposal concept
2 Questions for 7 Marks in Jan 25 Exams
4. Risk prima facie passes with ownership concept and sub points
5. Rules of Delivery Concept ( Any one sub point can come for 2 marks)
1. Right of resale of unpaid seller CONCEPT (When he can sell and what to do with
The Sale of Goods Act,1930 profits etc)
(Unpaid Seller - Unit 4) - 2. Rights of Unpaid Seller against buyer - VERY IMPORTANT
3. Right of Lien vs Right of Stoppage in Transit ( Very Important)
 1. Cases where there is no Partnership (SC Case : Santiranjan Das Gupta Vs. Dasryan
The Indian Partnership Act, 1930 Murzamull) - Important ( 4 points as per SC judgement) or KD Kamath case law
(General Nature of Partnership - Unit -1 ) - Marks 3-5 2. Partnership vs ANY other form of entity ( will be tested if paper is very easy) focus on
Keep as last priority while learning Club / HUF /- Have a basic understanding
3. Types of partners (Sleeping/ Nominal etc related concepts) - Came in Sep 24, May
repeaet
1. rights of transferee of a partner's interest S.29
2. Rights of outgoing partner to carry competing Business S. 36
3. Retirement of a partner and exceptions
The Indian Partnership Act, 1930
4. Insolvency or death concept
(Relations of Partners - Unit - 2 ) -Important Unit for
5. Laibility of partner for wrongful acts of the Firm S. 25 to S. 27
Exams 5-10 Marks minimum
6. Minor S.30 ( All concepts are Important)
7. Partnership Property / goodwill & Personal profits

8. Section 23 Effect of Admission by a partner - Important / S.24 notice to acting partner

1. Mode of settlement of partnership account - S. 48
2. Liability for partner act after dissolution S.45 + S. 46 AND S.47 ( 2 lines each in Study
The Indian Partnership Act, 1930 Material) - Yet to be tested much
(Registration and Dissolution of a firm - Unit - 3 ) - 3. Process for registration for firm
4. Payment of Firm debts and separate Debts S.49
5. Consequence of Non Registration of Firm S. 69
1. AOA and concept of entrenchment provision
2. Government company or Associate company definition
3.private Company limits of employees (Important)
4. Definition of Public Financial institution

The Companies Act 2013. 5. Incorporation Process (Less important) - Name clause related provisions - IMPORTANT
22 Marks in June 24 EXAMS - exams 6. Effect of registration S.9 (Less important)
20 Marks in Sep 24 Exams 7. Small company limits
MIN 20 MARKS IN JAN 25 EXAMS 8. S.8 Company (S.8 coy is VERY importamt)( Any one small concept as a separate
question)
9. Doctrine of Constructive notice / Indoor Management - These two are important this
time
10. OPC Concepts - Important for Jan 25 Exams
11. Definition of a Promoter 2(69) - VERY IMPORTANT
1. Financial Disclosures ( Annual return and statement of Account and Solvency)
2. Effect of registration S.14
3. Outgoing partner / Former partner concept of giving Notice and his liabilities
4. whistle blowing S.31
5. Name clause related provisions S.15 to 17
LLP Act, 2008
6. Partner by holding out S. 29
7. LLP wound up by tribunal points
8. Financial year concept in LLP
9. Small LLP Limits is important
10. Concept of designated partner and related provisions
 1. Difference between Bailment and Pledge
2. Duties of BAILOR - VERY Important
3. Duties of a Bailee / Bailor
4. Liability of Bailee
Bailment VS Pledge 5. Pledge by Non-owners (Important)
6. Pawnee Right's
7. Essentials of contract of Pledge
8. General Lien S. 171
9. Discharge - co surety concept
10. Duties of Baille - Not to Mix goods
1. Revocation by conduct of creditor - ALL SUB CASES IN THIS IS IMPORTANT
2. Revocation of contract of guarentee (Discharge of surety)
3. Right against the Creditor ( Surety right to benefit on creditors securities)
4. Continuing guarentee - VERY IMPORTANT
Indemnity and Guarantee - Atleast read the 3 questions
5. Discharge of surety - IMPORTANT
marked in RED
6. Rights of Surety against Other surety / Debotor and Creditor - ALL 3 CASES ARE VERY IMPORTANT
7. Concept of Minor in guarantee (Minor as principal debtor)
8. Nature of Surety's liability S.128
1. Duties of an agent
2. Agents right in case of emergency
3. Substituted Agent
Agency - Important for Jan 25 Exams, we can expect 10 4. Modes of Creation of Agency
marks (Most important among the 3 special contract 5. Personal liability of agent
chapters) 6. When is Agency Irrevocable? Agency coupled with interest concept - IMPORTANT
7. Sub agent S.191
8. S. 200 Ratification of act of third party
9. Agent's Right of retaining sums
1. Essential charecteristics of each type of negotiable instruments
2. Learn the difference between each type of negotiable instrument
3. Modes of Negotation ( Delivery or Indorsement )
Negotiable Instruments Act
4. bearer vs order instrument
5. Presentment of Instrument - S.61 to 77 - VERY VERY IMPORTANT
6. Rules of Compensation
1. Explain about Ministry of Finance
2. Explain about structure of Indian Judicial system ( High court / Supreme court etc ) -
Indian Regulatory Framework
Important
3. Explain about MCA