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Mercantile Law Tips
Mercantile Law Tips
This was my last paper, my last attempt, and CSS-2009’s last paper as per schedule.
Mercantile Law paper was comparatively easy because there was a good mix of the theoretical
questions and practical case studies.
I scored 15 MCQ correct, 1 incorrect, and 4 in doubt.
Part-II comprised 4 questions of 20 marks each from Contract Act 1872, covering topics of
Agreement vs Contract; Coercion; gratuitous acts;and Pledge. (This was the great favor by the
paper setter to the candidates because most of the candidates do cover Contract Act thoroughly).
One could attempt the entire 4 question only from Contract Act.
One question was covered from Sales of Goods Act 1930.
One question was covered from Companies Ordinance as usual.
Final question covered Negotiable instruments Act 1881 and Arbitration Act.
I attempted Q:2, Q:3, and Q:5 from the Contract Act. And Q:7 from Sales of Goods Act.
Over all my paper consisted of three case studies of which 2 case studies are 100% correct and
third one is correct but not with strong evidences. Third case study was little bit irrelevant in our
Pakistani Law and that carried controversial judgments and uncertainty from the Indian Judges.
(I am talking about the exercise of coercion by Husband through the threat of committing
suicide). I have replied in affirmative as intended by the examiner but my argues were not so
much strong in this case. Probably I may loose 5 marks out of 10 marks in this case study.
Rest all the case studies, and remaining questions were correct and satisfactory.
Well, before attempting paper I was very uncertain about Mercantile Law paper because this
paper is very risky (hero or Zero). But today’s paper proved to be a lucky one, Insha Allah this
may fetch good marks.
Tips:
Do cover following four areas:
1) Contract Act: Must
2) Partnership Act: Must
3) Sales of Goods Act: Must
4) Companies Ordinance relevant sections only (Formation of company starting from the
promoter’s stage till the commencement of business covering Prospectus, statement in leu of
prospectus, MOA, AOA etc; some sections regarding “Company Name” selection; some sections
on alteration of MOA, and AOA; some sections on the meetings. Enough)
Optional areas:
1) Negotiable Instruments Act
2) Insurance
3) Arbitration
Easy and Quick Method to pass the paper with good marks:
1) Cover Contract Act (including Agency, Bailment & Pledge, Indemnity and Guarantee)
2) Cover Companies ordinance relevant selected section only. Because one question is always
covered from Companies ordinance.
3) Arbitration Act (Because it is very short and mostly one question is always covered from
Arbitration)
4) Either Sales of Goods Act or Partnership Act (Any one)
My study material:
1) Bare Acts (Essence of the Law)
2) Luqman Baig (Best one: Comprehensive, reader friendly and relevant to Pakistani paractices)
3) M.C. Shuckla (Best one, standard book)
4) P.P.S. Gogna ( Explanatory, easy and comprehensive)
5) M.C. Kuchhal (Good one but not so reader friendly)
6) CA. Study Text (To the point and short one but lacks some crucial details)
7) Companies Ordinance (Easy and to the point, just demands two to three hours for the relevant
sections).
8) Arbitration Act summary from Net.
Suggestion to aspirants:
1) Bare Acts for revision during exam days
2) Luqman Baig (Main book for reference).
3) Companies ordinance
4) Arbitration Act
5) Life insurance from any other relevant book.
6) And if you have further time: Do cover each chapter end Practical problems of M.C. Kuchhal
for getting grip over case studies. Do go through case studies from M.C. Shukla