FEDERAL PUBLIC SERVICE COMMISSION
COMPETITIVE EXAMINATION FOR RECRUITMENT TO POSTS
IN BPS – 17 UNDER THE FEDERAL GOVERNMENT, 2012.

MERCANTILE LAW


TIME ALLOWED PART-I MCQs 30 MINUTES MAX MARKS: 20
THREE HOURS (PART-II) 2 HOURS & 30 MINUTES MAX MARKS 80
NOTE: (i) Candidate must write Q.No. In the Answer Book in accordance with Q.No. In the Q. Paper.
(ii) Attempt ONLY FOUR questions from PART-II. All questions carry EQUAL marks.
(iii) Extra attempt of any question or any par of the attempted question will not be considered.

PART –II

Q.2 section 10 of the contract Act says that ‘all agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object, and or not expressly declared to be void,. Explain fully what is intended by wording, not expressly declared to be void’. Be brief ad the point.

Q.3. Discuss the circumstances under which a contract is discharged.

Q.4. What rights are conferred on an unpaid seller? Explain an unpaid seller’s lien. Under what circumstances an unpaid seller loses his lien?

Q.5. Explain ‘Sale by Auction’. When does title of goods passes from the seller to a buyer in an auction sale?

Q.6. How would a court determine the existence of a partnership? Explain the principle laid down in Cox v. Hickman.

Q.7. Discuss the significance of ‘Resolutions’ in regulating the affairs of a company. Explain what is meant by the doctrine of ultra vires a company?

Q.8. Who may be appointed as an arbitrator? Describe the powers of an arbitrator under the Arbitration Act, 1940.