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CPT Paper 2 Mercantile Law Chapter 1  
Unit 2 Consideration 
 
Mr. Varughese Thomas 
 
Page 2


CPT Paper 2 Mercantile Law Chapter 1  
Unit 2 Consideration 
 
Mr. Varughese Thomas 
 
Consideration, Concept, Importance, Double aspect 
Consideration from 3
rd
 party to contract 
Valid contract without consideration 
Stranger cannot sue 
2 
Page 3


CPT Paper 2 Mercantile Law Chapter 1  
Unit 2 Consideration 
 
Mr. Varughese Thomas 
 
Consideration, Concept, Importance, Double aspect 
Consideration from 3
rd
 party to contract 
Valid contract without consideration 
Stranger cannot sue 
2 3 
Contract 
Minus 
Consideration 
Unenforceable 
Promise 
Page 4


CPT Paper 2 Mercantile Law Chapter 1  
Unit 2 Consideration 
 
Mr. Varughese Thomas 
 
Consideration, Concept, Importance, Double aspect 
Consideration from 3
rd
 party to contract 
Valid contract without consideration 
Stranger cannot sue 
2 3 
Contract 
Minus 
Consideration 
Unenforceable 
Promise 
Double aspect of 
consideration 
Benefit to 
promisor 
Detriment 
to promisee 
4 
Page 5


CPT Paper 2 Mercantile Law Chapter 1  
Unit 2 Consideration 
 
Mr. Varughese Thomas 
 
Consideration, Concept, Importance, Double aspect 
Consideration from 3
rd
 party to contract 
Valid contract without consideration 
Stranger cannot sue 
2 3 
Contract 
Minus 
Consideration 
Unenforceable 
Promise 
Double aspect of 
consideration 
Benefit to 
promisor 
Detriment 
to promisee 
4 
Price agreed to be paid by Promisee 
for Obligation of Promisor  
5 
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FAQs on PPT - Consideration - Business Laws for CA Foundation

1. What is the eligibility criteria to appear for the CA Foundation exam?
Ans. To appear for the CA Foundation exam, a candidate must have completed 10+2 level of education from a recognized board or institution.
2. What is the syllabus for the CA Foundation exam?
Ans. The CA Foundation exam consists of four papers: Principles and Practice of Accounting, Business Laws and Business Correspondence and Reporting, Business Mathematics and Logical Reasoning and Statistics, and Business Economics and Business and Commercial Knowledge.
3. How can I register for the CA Foundation exam?
Ans. To register for the CA Foundation exam, you need to visit the official website of the Institute of Chartered Accountants of India (ICAI) and fill out the online registration form. You will also need to submit the required documents and pay the examination fee.
4. What is the exam pattern for the CA Foundation exam?
Ans. The CA Foundation exam is conducted in a pen and paper-based mode. Each paper consists of multiple-choice questions (MCQs) and descriptive questions. The duration of each paper is three hours.
5. How can I prepare for the CA Foundation exam effectively?
Ans. To prepare for the CA Foundation exam effectively, you should create a study schedule, refer to the recommended textbooks, solve previous years' question papers, and take online mock tests. It is also important to seek guidance from experienced faculty and revise the topics thoroughly before the exam.
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