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ECO-05

Bachelor’s Degree Programme (BDP)

ASSIGNMENT 2012-13

Elective Course in Commerce ECO-05: MERCANTILE LAW

For July 2012 and January 2013 admission cycle

School of Management Studies Indira Gandhi National Open University Maidan Garhi, New Delhi-110 068

As explained in the Programme Guide. it is compulsory for you to submit the assignment as per the schedule. 2. you can submit the assignment responses within one month after receiving the study material.Elective Course in Commerce ECO-05: Mercantile Law ASSIGNMENT – 2012-13 Dear Students. it is valid upto June 2013. you should carefully read the instructions given in the Programme Guide. Before attempting the assignments. To be eligible to appear in the Term-end examination. Assignment is given 30% weightage in the final assessment. The validity is given below: 1. You have to submit the assignment of all the courses to The Coordinator of your Study Centre. it is valid upto December 2013. you have to do one Tutor Marked Assignment in this Course. This assignment is valid for two admission cycles (July 2012 and January 2013). you must submit assignment to the Coordinator of your study centre latest by 15th March Similarly for appearing in December Term-end Examination. you must submit assignments to the Coordinator of your study centre latest by 15th September Note : In case you receive the study material and assignments late. 2 . For appearing in June Term-end Examination. Those who are enrolled in July 2012. Those who are enrolled in January 2013.

Creditor and 3. Define consideration. 2. (a) (b) 3. (a) (b) 4. (20) 3 . When is it said to be free? Define coercion and explain the definition with suitable examples. Define consent.TUTOR MARKED ASSIGNMENT Course Code Course Title Assignment Code Assignment Coverage : : : : ECO-05 Mercantile Law ECO-05/TMA/2012-13 All Blocks Maximum Marks : 100 Attempt all the questions 1. Principal Debtor. (a) (b) 2. Co-sureties. What are the legal rules for valid consideration? (10+10) Explain the rights of surety against the 1. State the circumstances when the dissolution of the firm take place. Illustrate your answer. (a) (b) 5. (10+10) What is quantum meruit? Under what circumstances does a claim on quantum meruit arise? Discuss the doctrine of supervening impossibility with examples. (2+6+12) (8) How and when may a partner retire? What are the right and liabilities of a partner? (2+10) What are the effects of perishing of goods on a contract of sale? Explain with examples.