Federal Public Service Commission
Re-Examination of Competitive Examination
For Recruitment to Posts in BS-17 Under
The Federal Government, 2013
Mercantile Law
TIME ALLOWED: 2 HOURS & 30 MINUTES MAXIMUM MARKS:80
NOTE:
(iii) Attempt Only FOUR question from Part II. All questions carry EQUAL marks.
(iv) Extra attempt of any question or any part of the attempted question will not be considered.
Part- II
Q.No.2. Write short notes on any Four of the following. (5 marks each ) (20)
a) Misrepresentation
b) Member (in relation to a company)
c) Holder in due course of negotiable Instruments
d) General duties of partners
e) Right of stoppage in transit
f) Re-Insurance
Q.No.3. Write essay on any TWO of the following (10 marks each) (20)
a) Voidability of agreements without free consent
b) Memorandum of company limited by guarantee
c) Presentment for payment of negotiable Instruments
Q.No.4. Write comprehensive note on any TWO of the following:- (20)
a) Mutual rights and liabilities of the partners
b) Reservation of right of disposal
c) Interest when no rate specified
Q,No.5. Discuss the consequences of breach of contract, compensation for failure to discharge obligation those created by contract, compensation where penalty stipulated for contract has been broken with examples.(20)
Q.No.6. Distinguish between statutory meeting, annual meeting and extraordinary meeting. Discuss requirement, frequency and aims of the meetings in accordance with the provision of law. (20)
Q.No.7. Discuss duration of transit, right of stoppage in transit and how stoppage in transit is effected under section 50, 51 and 52 of the Sale of Goods Act, 1930. (20)
Q.No.8. Differentiate between dissolution by the Court, by agreement, by notice of partnership at will and compulsory dissolution. Discus complete process of dissolution of the firm under the partnership Act, 1932. (20)