Mercantile Law CSS Paper 2010

Federal Public Service Commission
Examination of Competitive Examination
For Recruitment to Posts in BS-17 Under
The Federal Government, 2010

Mercantile Law

TIME ALLOWED: 2 HOURS & 30 MINUTES MAXIMUM MARKS:80

Part-I (MCQs) (COMPULSORY)

Q.1. (i) Select the best option/ answer and fill in the appropriate Circle on the OMR Answer Sheet.( 20×1=20)
(ii) Answers given anywhere, other than OMR Answer Sheet, shall not be considered.

Part- II

NOTE: Attempt only four questions:

Q2. what is the difference between Memorandum and Article of association of a company?is it essential to register the article of association signed by the subscribers to the memorandum?what is the alternative if these are not registered?

Q3. loans by a Co. Ltd by shares,other than a Pvt Co.,on the security of its own shares to a person to enable him to purchase its own shares is strictly prohibited.what are its exceptions?what action can be taken in case of a contravention?

Q4. a-what do you understand by the expression Caveat-emptor?
b-define a “warranty” & distinguish it from a “condition” with reference to a contract of the Sales of Goods Act?

Q5. define dissolution of a firm.explain various modes of dissolution of a firm?

Q6. state the rules for determining partner’s mutual relations.explain fully.

Q7. what are void and voidable agreements?state fully,quoting law.

Q8. define and explain “consent” & “free consent”.is it essential for validity of a contract that the consent be free?what do you mean by “the parties ad idem”?

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