Stuck with Contract chapters

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    Topic
  • #164634
    kobebryant168
    Participant

    Hi guys

    I m currently on Contract chapter and I don’t know why I really have difficult time grabbing the concept. Even though I went through like two times, but when I get into the questions, I hit a total blank but somehow able to answer with comment sense.

    Are there any advices of how to tackle lengthy law section of REG in general. For now, tips on how to study Contract and Sale section will be good.

    This is why I do accounting, numbers are my language!

    Thanks guys!

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  • #318872
    kandisjoy
    Participant

    I had a hard time with contracts too. I think eventually I ended up making notecards for it and drilling on it over and over.

    FAR: 71, 77
    BEC: 70, 82
    AUD: 62, 78
    REG: 71, 68, 85

    CA Licensed 11/2011

    #318873

    I found with contracts that if you start off with what seems fair, you're halfway there. The next step is just being comfortable with the terminology — consideration, inducement, duress, void versus voidable, common law versus UCC, etc. Next, mnemonics will take you part of the way there: I BUILD personal defenses:

    I mpostor

    B reach of contract

    U nauthorized completion

    I nducement fraud

    L ack of consideration

    D uress

    And lots more. Write all of them out each time you study contracts. And the rest is drilling. After that, drill some more.

    That, at least, worked for me.

    REG 82 (10/07/11)
    BEC 88 (11/01/11)
    FAR 86 (11/21/11)
    AUD 82 (11/30/11)
    ----------
    Roger CPA Review, live & cram course

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