KHYBER PAKHTUNKHWA PUBLIC SERVICE COMMISSION
COMPETITIVE EXAMINATION FOR THE POSTS OF PMS-2022
MERCANTILE LAW
Time Allowed: 3 Hrs Marks: 100
AttemptAny Five Questions. All Questions carry equal marks.
1 Under what circumstances, a party under the provisions of the Contract Act, 1872. needs not to perform an original contract duly entered into?
2 Explain the difference between a “wagering contract” and “contingent Contact”. Are they both enforceable at law?
3 What is registration of firm? Discuss its advantages. Is there any effect of non-registration of firm? If so, explain in detail.
4 What is the difference between a “condition” and a “warrantyw in a contract of Sale? Do they have same legal effect on the contract? Discuss.
5 Define consent. What is it seid that a consent has been obtained by unlawful means. Discuss fully.
6 What does Holder in due course means in Negotiable instruments Act, 1881? State the rights and privileges ofa Holder in due course.
7 What is agency? How it is created? Discuss the general rules of agency.
8 Write short note on any TWO ofthe Following:
a. Void Agreements
b. Caveat Emptor Rule
c. Arbitration Award
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