mercantile law paper 2012
 

[B]Q.2[/B] 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 the wording 'not expressly declared to be void'. be brief and to the point.

[B]Q.3[/B] discuss the circumtances under which a contract is discharged.

[B]Q.4[/B] what rights are conferred on an unpaid seller ? explain an unpaid seller's lien. under what circumstances an unpaid seller loses his lien?

[B]Q.5[/B] explain ' sale by auction'. when does title of goods passes from he seller to a buyer in an auction sale?

[B]Q.6[/B] how would a court determine the existence of a partnership ? explain the principle laid down in Cox v . hickman.

[B]Q.7[/B] discuss the significance of 'resolutions' in regulating the affairs of a company . explain what is meant by the doctrine of ultra vires a company?

[B]Q.8[/B] who may be appointed as an arbitrator? describe the powers of an arbirator under the arbitration act, 1940.