I ECO-0051 No. of Printed Pages : 4

BACHELOR'S DEGREE PROGRAMME girt

Term-End Examination

CD

June, 2017 CD

ELECTIVE COURSE : COMMERCE

ECO-005 : MERCANTILE LAW

Time : 2 lumrs Maximum Marks : 50 Weightage : 70%

Note : Answer any five questions.

1. "All agreements are not Contracts, but all 10 Contracts are agreements". Discuss this statement clearly bringing out the essential elements of a Valid Contract.

2. Define mistakes and explain the various types of 2+8 mistakes.

3. Who is a minor ? When is a minor liable for a contract ? If a minor misrepresents his age what is the legal effect ? 3+3+4

4. Distinguish between a Contract of Indemnity and 10 a Contract of guarantee.

5. Explain the general rule that "no one can give a 2+8 better title than he himself has". Discuss the exceptions to this rule.

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1 P.T.O.

6. Explain the duties of an agent. 10

7. Explain the following : 5+5

(a) Discharge by breach of Contract

(b) Duties of a bailee

8. Define Partnership. What are its essential 3+7 characteristics ?

9. Answer the following problems. Give reasons for 5+5 your answer :

(a) A, B and C stand sureties for ? 10,000, Z 20,000 and Z 40,000 respectively for a loan to D. If D makes a default of Z 60,000, how much will each A, B and C have to pay ?

(b) M, a minor, was admitted to share the benefits of a partnership w.e.f. 1.1.2013. He attained majority on 30.6.2013. From which date will he be regarded as a partner if he chooses to become a partner ?

ECO-005 2

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