IGNOU BCO 002 Mercantile Law | Guess Paper | Important Question Answer | Bachelor of Commerce with Major in Accountancy and Finance (BCOMAF)Courses of Common Proficiency Test (CPT) offered by ICAI.(Paperback, BMA Publication)
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Indian Contract Act, 1872:Essentials of a valid contract: offer, acceptance, consideration, legality of object, and capacity to contract.Types of contracts: void, voidable, and contingent contracts.Discharge of contract: by performance, by agreement, by impossibility, and by operation of law.Breach of contract and remedies available to parties.Sale of Goods Act, 1930:Formation of a contract of sale: essentials, conditions, and warranties.Transfer of ownership and delivery of goods.Rights and duties of buyer and seller, including unpaid seller's rights.Performance of contract of sale and remedies for breach.Indian Partnership Act, 1932:Formation, registration, and dissolution of a partnership firm.Rights and duties of partners, including partnership property and liabilities.Dissolution of partnership: modes, consequences, and settlement of accounts.Negotiable Instruments Act, 1881:Definition and characteristics of negotiable instruments: promissory notes, bills of exchange, and cheques.Holder and holder in due course: rights, liabilities, and privileges.Dishonour of negotiable instruments: reasons, consequences, and remedies.Consumer Protection Act, 1986:Objectives and salient features of the Consumer Protection Act.Rights of consumers, including right to information, right to safety, and right to redressal.Consumer disputes: forums for redressal and remedies available to consumers.Intellectual Property Laws:Overview of intellectual property rights: copyright, trademark, patent, and design.Protection and enforcement of intellectual property rights in India.Role of intellectual property laws in promoting innovation and creativity in business.Company Law:Formation, incorporation, and types of companies in India.Memorandum of Association and Articles of Association.Directors, meetings, and corporate governance.Winding up and dissolution of companies.