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Old Thursday, April 07, 2011
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Default Mercantile Law paper 2011

Mercantile Law Paper 2011
Q: 1 Part 1 Objective

1: Which of the following contracts is voidable, where:
(a) Aparty is induced by undue influence (b) One party under mistake of fact
(c ) b oth parties under mistake of fact (d) None of these

2: in case of wilful wrong sub agent is responsible to:
(a) Agent (b) Principal (c) Sole agent (D) none of these

3: A tender notice amounts to:
(A) Proposal b. offer c. invitation d. none of these

4: A contract to sell property by minor through guardian is:
A. Void b. voidable c. valid d. none of these

5: How many parties are there in contract of guarantee?
A. 5 B. 4 C. 3 d. none of these

6: Which of the following is eligible to become the director of the company.
A. Minor B. un discharged insolvent
c. person representing creditors d. none of these

7: extra ordinary general meeting of a company includes:
A. Annual general meeting b. statutory meeting c. plenarymeeting
D. none of these

8: Petition for the winding up of company may be moved by :
A. auditor general b. advocate general c. company judge
d. none of these

9: The companies act repealed by the companies ordinance, 1984 pertained to year:
a. 1930 b. 1933 c. 1935 d. none of these

10: penalty for improper use of word “Limited” is:
A. fine b. imprisonment c. fine with imprisonment d. none of these

11. In which of the following an arbitration is not discharged by the death of party.
A. voluntary b. statutory c. contractual d. none of these

12. the assent of arbitrator by court is:
A. optional b. not required c. necessary d. none of these

13. the nomber of arbitration act, 1940 is:
A. 11 b. 15 c. 20 d. none of these

14. natures of misconduct justifying removal of arbitrator should be:
A. Legal b. moral c. procedural d. none of these

15. suit by unregistered firm against third party is :
A. maintainable. B. barred c. permissible d. none of these

16. the partnership is:
A. juristic person b. juridical person c. natural person d. none of these

17. the firm and firm name are:
A. synonymous b. interchangeable. C.differe nt terms. D. none of these

18. the maker of the promissory note is liable as:
A. principal debtor b. principal creditor c. undischarged surety d. none of these

19. valid presentation of a cheque is within six months from:
A. the date is drawn b. date of last correection c. date of delivery d. none of these

20. an exception to “No one can transfer what he does not have “:
A. registered gift b. will c.estoppel by owner d.none of these

PART 2:
Attempt only four questions:

Q2: Discuss the statutory liablity both civil and criminal which arises as a result of untrue statement in a prospectus.

Q3: What are the modes in which maker, acceptor or endorcer of a negotiable insturment is discharged.

Q4. How will u distinguish a mistake of fact from a mistake of law. Discuss their legal effect on contract.

Q5. What is meant by expression “Passing of Property”? Discuss the law which governs the transfer of property as between the seller and the buyer.

Q6. Discuss the scope and extend of powers of a judicial authority to stay legal proceedings where there is an arbitration agreement. Elaborate as to what amounts “To taking any steps in the proceedings”.

Q7. Write a comprehencive note on the relations of partners to one another.

Q8. write short notes on any two of the following:

A. Insurance appellate tribunal b. Feduciary relationship. C. Goodwill.

Last edited by Rixwan; Friday, April 08, 2011 at 12:44 AM.
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It was a theoretical paper... difficult for those who used guides and market books but easy for those who used source books of contract act, arbitration act etc....
.... in the case of objective , examiner used source books aswell to compile the paper... we can say that it is a balanced paper...

Last edited by Rixwan; Friday, April 08, 2011 at 12:39 AM. Reason: Merged
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frozen flame-you rightly said that the paper was easy for those who used source books but i do not agree with you when you say it was difficult for those who used market books.Question nos.3,4,5,7 and 8 are covered by any market book. one could attempt these questions simply by reading the book of cheema. nevertheless, can ve match mcqs? answers of my mcqs were as follows:

i----------------a xi-------------------b
ii----------------a xii-------------------b
iii---------------c xiii------------------b
iv---------------c xiv------------------a
v---------------c xv------------------b
vi---------------c xvi------------------a
vii---------------c xvii------------------d
viii--------------c xviii------------------a
ix---------------b xix-------------------a
x---------------c xx-------------------c


frozen flame- did you attempt the question on relations among partners,question no 7?if yes, which points did you cover in answer of this question?

Last edited by Rixwan; Friday, April 08, 2011 at 12:40 AM. Reason: Merged
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my answers were different for the following mcqs...

7. d 8. d 11. c 12. c 13. d 14. b 15. a

in partners question, i used rights and duties like right to indemnify, right to access to books of accounts, relations with third parties, right to profits according to profit sharing ratios etc... i also used 2 case laws to support the answers.
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frozen flame- how ll v decide whose mcqs are right? and dear i cannot understand why you ve discussed duties and rights of partners in attempt of the question no.7 which requires relations among partners,not rights and duties?but u ve discussed rights and duties instead of relations.
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have u attempted this question? what u wrote in it? i think rights and duties automatically make relations? isnt it?
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yes i attempted it and i focused on agency relations among partners.Agency relations was the major point around which the whole discussion revolved.

And did you attempt the question no.5,"passing of property"?if yes which points did u discuss?this question is an open-ended one.
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suggest me precise book, i heared romour that 2013 paper would be case base not theoratical.. anybody have info about this...?
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Quote:
suggest me precise book, i heared romour that 2013 paper would be case base not theoratical.. anybody have info about this...?
Nobody can predict the pattern for 2013. u ll ve to rely on judgments and perception or on past experience. case laws were examined from 2002 to 2008/09 almost for 8 to 9 years but since then they ve ceased to be examined. 4 attempts ve since been passed but cases ve not been examined. if case laws can continue for more than 8 years, then theoretical questions can also continue for 8/9 years.

nevertheless this is my guess; anything can happen in exams.

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Old Monday, May 07, 2012
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Quote:
Originally Posted by TheUniter View Post
Nobody can predict the pattern for 2013. u ll ve to rely on judgments and perception or on past experience. case laws were examined from 2002 to 2008/09 almost for 8 to 9 years but since then they ve ceased to be examined. 4 attempts ve since been passed but cases ve not been examined. if case laws can continue for more than 8 years, then theoretical questions can also continue for 8/9 years.

nevertheless this is my guess; anything can happen in exams.

Regards.
Focus on understanding of subject, whatever the pattern u will solve it easily.
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