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BACHELOR'S DEGREE PROGRAMME
Term-End Examination
December, 2013
ELECTIVE COURSE : COMMERCE
ECO-5 : MERCANTILE LAW

Time : 2 hours Maximum Marks : 50

Weightage : 70%
Note : Answer any five questions.

1. Define offer. Explain the essential element of a 2, 8

valid offer.

2. Define 'Considerstion'. Discuss various types of

considerations. 'Consideration need not be
adequate'. Discuss. 2, 4, 4

3. Distinguish between : 5, 5
(a) Coercion and under influence
(b) Misrepresentation and fraud

4. Define 'bailment' and 'pledge'. When can a non- 6,4

owner make a valid pledge ?

5. Define 'partnership.' What are the rights and 2, 8

duties of a partner ?

CO-5 1 P.T.O.
6. Explain the different remedies available to the 10
aggrieved party for breach of contract.

7. What is agency by ratification ? What are the 4, 6

essential of a valid ratification ?

8. Discuss implied conditions in a contract of sale. 10

9. (a) 'A' hires a car from 'B'. The car is unsafe, 5, 5

though the owner 'B' is not aware of it and
'A' is injured. Is 'B' responsible to 'A' for
his injury. Give reason in support of your
answer.
(b) 'X' ,'Y' and 'Z' together buy a few houses as
joint owners. They collect the rent and share
it among them selves. Can they be called
partners under partnership Act, 1932. Give
reasons for your answer.

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