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CRM FOUNDATION – We all know the word CONTRACT and almost every business transaction takes place without it.

contract. The agreement is the foundation of a contract. We enter into so many agreements every day, it is hard to keep track of them all.

Not necessarily in the formal sense, but consciously or unconsciously whatever personal,

Social interactions, or day-to-day interactions, are part of our daily lives.Learn CMA Foundation Law online course

What is a contract?

A contract is an agreement between two or more to the people that is legally binding in Court.

Section 2(h), defines contract as “an agreement that is enforceable under law.” Pollock defines contract

As “Every agreement or promise that is enforceable under law is a contract.”

Salmond says that a contract is “an agreement creating and defining obligations among the parties.”

We looked through all the definitions of Contract and found that the term Contract is not defined.

Defining directly, but also defining in terms of an agreement.

Examples and cma final study material

*We go to a milk booth in the morning and buy milk. We also pay for it. It’s an agreement in which we either pay or not.

You agree to pay the vendor for milk delivery. Non-delivery or non-payment to the vendor of the price

It could be a breach of contract. For this reason, remedies can be sought. It contains all elements of a valid


*After we have rented a car to get to work, we agree to pay or pay the car rental charges.

This agreement/contract is between us and the car service and provider In other words An invitation to attend the family function of a colleague at the office is sent upon arrival in the office

We accept. This is another type of agreement, though it is social and does not result in a formal contract.

Crack foundation law exam

As a Certified Management Accounting, For instance, After that there are many stakes on the shoulders of accountants. It is crucial to be able to comprehend legalities and regulations relating to different financial and accounting practices.

CMA Foundation Fundamentals of Laws and Ethics is a paper that tests the student’s ability understand basic concepts of law. And distinguish between right and wrong practice to be an ethical professional. This paper explains in detail the For instance,requirements and regulatory compliances.

Here are some tips and tricks to help you prepare for the CMA Foundation laws and ethics.

Here’s the next thing you’ll read:

CMA Foundation Fundamentals of Laws & Ethics Syllabus.

How to study the CMA Foundation Fundamentals of Laws and Ethics.

How to score high in CMA Foundation Fundamentals of Laws and Ethics.

Online resources for CMA Foundation Fundamentals of Laws and Ethics.

CMA Foundation Fundamentals of Laws & Ethics Syllabus

CMA Online Lectures

Below are the contents of CMA Foundation’s syllabus on ethics and laws, along with the weighting of each topic.



Distribution of suggested marks for examination:

Total of 100 marks (3 hrs)

Objective questions (60 marks) 1 marks each question




Here are 10 handy tips to help you study the CMA Foundation Fundamentals of Laws and Ethics.

1 The maximum weightage on this exam is allocated to two topics: ‘Indian Contract Act’ and ‘Fundamental of ethics.

2 Which together have a staggering 70%. These two topics should be your main focus areas. Make sure you have enough time for study preparation to cover these topics.

3: Be familiar with all legal terminologies and prepared Therefore, to answer any tricky questions. ICMAI twists legal terminologies to frame questions.

4: Ethics and laws are Similarly, more than just about memorizing legal jargon. It is also about understanding the reasons behind each regulation or best practice. You will become a better accountant if you understand the reasons behind each law.

5: While you are preparing, try reading loudly. This is especially helpful for subjects such as law.

You can go through the ICMAI study materials and find keywords for each answer. These keywords will give you an advantage when writing the exam.

You can use a separate notebook to quickly review the relevant sections and laws.

It is much easier to be ethical than it is to follow the law. This section will be saved by your common sense. This section is easy if you are prepared well.

Take the time to study the questions in the study materials however The pattern of questions asked on the exam is the same.

In conclusion,

You can learn online how to improve your performance and not stress yourself out.

Once you have completed a substantial amount of syllabus, continue to attempt mock papers.

How to score high in CMA Foundation Fundamentals of Laws and Ethics

After you have the question paper, read through the questions. You should devote time to each question based on their marks. Revision is important.

Attempt multiple choice questions first.

You should not quote any sections or laws however Only mention the section if you feel confident.

Highlight important section and line numbers.

Use legal keywords to create concise and well-supported answers.

As there is no negative marking, try to answer all questions.

If possible, give examples of relevant cases.

Avoid abbreviations and short forms.

Do not write paragraphs in chunks without underlining them or without breaking it into sub-points. To earn brownie points, add headings/subheadings where appropriate.

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