Professional Documents
Culture Documents
KL Knowledge Level Business Commercial Law May Jun 2014
KL Knowledge Level Business Commercial Law May Jun 2014
& COMMERCIAL LAW
Time allowed ‐1½ hours
Total marks – 100
[N.B. – The figures in the margin indicate full marks. Questions 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
01. “An agreement enforceable by law is a contract” – explain. 7
02. Explain under what circumstances a valid contract becomes a void contract? 6
03. Define proposal and mention its elements. How can a proposal be revoked? 10
04. Who is mercantile agent? Explain various kinds of mercantile agent. 7
05. Define and distinguish between indemnity and guarantee. 7
06. What do you understand by the doctrine of Caveat Emptor? What are the exceptions to
this doctrine? 8
07. When and how may a partner retire? What restrictions are imposed on a retiring
partner? 8
08. Distinguish between sale and agreement to sell. 7
09. Discuss the rules regarding negotiation of a lost instrument and an instrument obtained
by fraud. 8
10. What are the implied conditions by operation of law in case of contract for the Sale of
Goods? 8
11. State the rights and duties of Arbitrators. 8
12. Describe the properties which are exempted from the proceedings of Bankruptcy. 8
13. What is `crossing a cheque’? Discuss various types of crossing? 8
‐ The End ‐