BUSINESS & COMMERCIAL LAW

Time allowed 1 hours

Total marks 100
[N.B. The figures in the margin indicate full marks. Question must be answered in English. Examiner will take
account of the quality of language and of the way in which the answers are presented. Different parts,
if any, of the same question must be answered in one place in order of sequence]
Marks
1. Distinguish between contract and agreement. What are the essential elements for a contract
to be valid in the eye of law?
8+3=11
2. What is an offer according to the Contract Act 1872? How an offer is revoked?

2+4=6

3. Distinguish between executed and executory contracts.

4. What is Bailment without Reward? State the rights of a bailee

2+6=8

5. How an agency is created?

6. What are the rights of a commercial agent against his principal?

7. Define the term sale and agreement to sell and distinguish between these two.

8. What are the consequences of breach of condition and warranty?

5+2=7

9. When the property in goods passes from the seller to the buyer?

10. Write down the rights and duties of a partner in a partnership firm

5+5=10

11. What is Bill of Exchange? What are the essentials of a bill of exchange?

2+8=10

12. What is presentment? When is the presentment for acceptance of a bill excused?

2+4=6

13. Which acts of a debtor cause him to be a bankrupt?

14. Point out the duties of an arbitrator.

The End