Mercantile Law KP PMS Paper 2008

NWFP, PUBLIC SERVICE COMMISSION PESHAWAR
COMPETITIVE EXAMINATION FOR PROVINCIAL MANAGEMENT SERVICE, 2008
MERCANTILE LAW
Time Allowed: 03 Hours Max Marks: 100

Note: Attempt any five questions in ALL.
Possession and use of mobile and other electronic accessories is strictly prohibited during the examination and can lead to cancellation of paper as sell as examination.

Q.No1. What is the Contract of Bailment? Discuss the rights and duties of Bailor and Bailee. (20.)

Q.No.2. Define an “Agency? What are the different kinds of agents appointed under the law of Agency? Describe the responsibilities of an agent to his principal. (20)

Q.No.3 What is an Unpaid Seller? Describe the rights of unpaid sellers under the sale of Goods Act, 1930. (20)

Q.No.4. Explain various kinds of Crossed Cheque with examples and how a Crossed Cheque is paid? (20)

Q.No.5. How a proper “Partnership” is formed? What is the difference between Partnership and Co-ownership? (20)

Q.No.6. Differentiate between Memorandum of Association and Articles of Association. How can alteration be made in the Memorandum of Association’? (20)

Q.No.7. Describe exactly the position, power and functions of a Director under the companies Ordinance 1984. How is a Director liable for the acts of a company? (20)

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