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
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.
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”?