Mercantile Law Module- B—CA - Pakistan—Institute of Chartered Accountants of Pakistan-ICAP--Technique to solve scenario based questions.

Terminologies used by the examiner in the questions. By Rehan Aziz Shervani---99 Lectures on Business Law http://www.scribd.com/doc/39597948/99-Lectures-onBusiness-Law-sample-Lectures
Formula of solving scenario based question:
The scenario based questions are solved by applying the following formula: FOI+Orl+Alfi+D Foi= Framing of Issue Qrl= Quoting relevant law Alfi = Application of the law on the framed issue D= Decision The most technical thing involved in the formula is as to how issues are framed; the following material will make you understand this process: Framing of issues: (1) Issue arises when a material proposition of fact or law is affirmed by the one party and denied by the others. (2) Material propositions are those propositions of law or facts which a claimant must allege in order to show a right to sue or a defendant must allege in order to constitute his defence.
Allege (=assert; claim; contend) Law (= rule as laid down by Parliament or by a precedent) Facts (= what ever is perceived by our five senses are facts)

(3) Issues are of the following two kinds: (a) Issue of law (b) Issue of fact Issue of law: An issue of which answer is already prescribed in some rule of law. Issue of fact: Before dealing with ‘issue of fact’, it is important to first understand the term ‘fact’---‘fact’ includes the following:

(a) anything, state of things or relation of things capable of being perceived by senses; and (b) any mental condition of which any person is conscious. Issue of fact means a issue other than a issue of law. While attempting the scenario based question students are required to carefully read the proposition and thereafter ascertain what material proposition of fact or law the parties are at variance and shall thereupon proceed to frame and record the issues on which the right answer of the question appears to be dependent.
Proposition (= situation; scheme) Ascertain (= determine) Variance (= difference; conflict) Proceed (= go ahead; advance; progress)

Points to focus (1) Reading the question and being focused on what is asked? (2) 70 percent of the marks available are for showing that you have knowledge of the relevant law. (3) 30 percent marks are available for scenario based question. What should not be done by the students while attempting the paper? Examiner mentioned that the following shortcomings must be avoided: (1) Unclear question labeling makes the marker confuse in identifying which question is being answered. (2) Not start each question on a new page. (3) Not using both sides of the paper. (4) Don’t repeat information. (5) Producing ‘long general essays’ to ‘problem questions’ which contains little information regarding the specific issue raised in the question. Whether Examiner allows time for reading question paper? Yes, it allows 15 minutes for reading the question papers. What is the format of the question paper? Following is the format of the question paper: 10 Compulsory Questions for 10 marks each. Three questions are scenario based. Time allowed: 3 Hours. The examination will comprise of questions drawn across all the syllabus areas. The scenario questions require you to analyze a situation from a legal point of view and give advice. Questions may be divided in to sub questions.

The first five questions are knowledge based. Three problem based questions require ‘legal analysis’ and ‘application of the appropriate law’. Terminologies used by the examiner in asking the questions: Mercantile law exam can not be answered unless the students learn the meanings of the following terminologies:
Briefly (=in a few words) Distinguish (=make a distinction) Distinguishing (=unique) Explain (=give detail) Meaning (= sense) In relation to (= with regard to) Contemporary (= current; existing) Differentiate (= separate) Define (= giving description/ detail of a thing by its properties) Scenario (= situation) Describe (= express; explain) Specific (= exact) Effect of (= result; outcome) Analyze (=explore; evaluate; examine) In particular (= specifically) Likelihood (= possibility ) Potential (= would be) Perspective (= view; angle) Stating (= uttering) Advise (= give an opinion) Entitled (= allowed) Scope (= possibility; capacity, range) Conclusion (= ending) Contents (= inside; filling) Context (= back ground; frame work) Whether (= used to ask question) Fluorescent (= shining) Injury (=grievance; wrong) count (= calculation) Assuming (=assume; presumptuous) Extent (= degree; scope) Consider (= judge; evaluate) Advantage (= lead) Relative (= comparative) Concept (= idea) List (= record) Detail (= specify) Consequences (= results; out come) Terms (= conditions) Pursuing (= following) Grounds (= basis; foundation) With regard (= in relation to)

Points to ponder:
Ponder (=think over)

In education, nothing works if the students don't.

Donald E. Simanek (1936-) American physicist, educator, humorist. Poor is the pupil who does not surpass his master. Leonardo da Vinci (1452–1519) Italian painter, sculptor, architect, musician, scientist, mathematician, engineer, and inventor. Notebooks. For book: http://www.scribd.com/doc/39597948/99-Lectures-on-Business-Law-sample-Lectures

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