Business Law

Where the marks are

Percentages are the examinable weighting for each area. Revising in this order puts your time where the marks are.

1. Law of business associations

   25%

   Partnership: elements, types and management · Alternative dispute resolution · Money laundering and fraudulent accounting · Limited partnership and limited liability partnership · The Corporate Affairs Commission and incorporation of companies · Share capital, shares and debentures · Directors, the company secretary and auditors · Company meetings and resolutions · Administration, arrangement, compromise and winding-up · Mergers, securities and the Securities and Exchange Commission · Business names, incorporated trustees and collective investment schemes

2. Special contracts

   25%

   Agency · Sale of goods · Hire purchase and equipment leasing · Contract of employment · Insurance

3. Law of contract

   20%

   Contract and its essential elements · Privity of contract and its exceptions · Terms of a contract and exemption clauses · Illegal and void contracts · Factors that vitiate contracts · Termination or discharge of contracts and remedies for breach · E-contracts

4. The legal system and court system

   15%

   Sources of law: the constitution and received English law · Judicial precedent, statutes, customary law and international law · Cyber security and data protection law · Structure, hierarchy and jurisdiction of the courts · Special courts and tribunals, and law distinguished from ethics · Criminal and civil liability distinguished · Torts, vicarious liability and negligence

5. Banking and negotiable instruments

   10%

   The banker and customer relationship · Meaning and characteristics of negotiable instruments · Bills of exchange, cheques and promissory notes · Crossing of cheques · Holder, holder for value and holder in due course · Rights and duties of parties to a negotiable instrument

6. Law of trusts

   5%

   Trusts and the parties to them · Private and public trusts · Duties, powers and rights of trustees

Where candidates lose this paper

The Institute publishes its own past questions. What it cannot give you is an answer to these.

There is not enough time to read the whole study text before the diet.

The official study text condensed and reorganised by examinable weighting, with every claim cited back to the page it came from — so you can check anything you doubt in one click.

You write practice answers for months and never find out whether a single one would have scored.

Write by hand, photograph it, and have it marked against the examiner's own marking guide — with the marks broken down the way the examiner breaks them down, and the reason for each one.

The study text is hundreds of pages and none of it tells you which parts the examiner actually asks about.

Every syllabus topic, ordered by the share of marks it carries, so your revision time follows the marks instead of the page count.

You know the answer but lose marks anyway, and no one ever explains where they went.

The Institute's published solution beside your attempt, with the mark allocation visible — so you can see the marks sitting in the principle and the application, not only the final figure.