EXAMINATION OF ARTICLED CLERKS PAPER V MODERN COMMERICAL LAWS WEDNESDAY, 07TH NOVEMBER, 2012 Time: 3 Hours [1.00 p.m.

. to 4.00 p.m.] SECTION I THE INDIAN CONTRACT ACT, 1872 Q.1 Write Short Notes on any FOUR of the following:a) Doctrine of unjust Enrichment. b) Ratification c) Elements affecting free consent. d) Novation, recession and alteration of contract. e) Reciprocal promise. f) Contract of Indemnity and Guarantee Marks

[ 10 ]

Q.2

What is pledge ? Explain Pawnees right where Pawnor makes default in payment of Debt or performance. What are defaulting Pawnors right to redeem ? OR Who are competent to contract ? Explain Undue Influence and fraud. [15 ] SECTION II THE INDIAN PARTNERSHIP ACT, 1932

Q.3

Attempt any FOUR of the following :a) Requisite elements of a partnership. b) Admission of Minor to the benefits of Partnership. c) Effect of non-registration of partnership firm in the State of Maharashtra. d) Agreements in restraint of trade. e) Holding out. f) Retirement of a partner. Q.4 What is Partnership at Will ? Please Draft a Deed of Partnership. OR Explain modes of dissolution of a partnership firm.

[ 10 ]

[15 ]

SECTION III THE NEGOTIABLE INSTRUMENTS ACT, 1881 Q.5 Explain any FOUR of the following:a) Holder in due course. b) Inchoate instruments. c) Noting and Protest. d) Foreign instrument e) Offences by Companies. f) Interest when no rate is specified.

[15]

Q.6

What is Promissory Note ? Whether Currency Note is a Promissory Note ? Draft a Promissory Note. OR Explain presumptions as to negotiable instruments. Can the maker or drawer of a promissory note or Bill of Exchange deny validity of original instruments in a suit thereon by a holder in due course ? [10] SECTION IV THE SALE OF GOODS ACT, 1930

Q.7

Write Short Notes on any FOUR of the following :a) b) c) d) e) f) What is Goods ? Whether Lottery Ticket is goods ? Auction Sale. Sale by sample. Implied undertaking as to title. Contracts of Sale and Agreement to sell. Distinguish Condition and Warranty.

[10]

Q.8

Who is an Unpaid Seller ? Explain an unpaid sellers lien and termination of lien. OR Explain in brief the rules prescribed for ascertaining the intentions of the parties as to the time at which the property in the goods is to pass to the buyer.

[15]

< END >