Mercantile Law Past Papers 

Paper# 1

Subject: Mercantile Law

Time Allowed: 3 hours

Max Marks: 100

NOTE: Attempt FIVE questions in all, selecting THREE questions from Part-I and ONE question each from part Il & III. All questions carry equal marks.

 

Part-I

Q#1. Explain the concept of a single member company. Describe its salient features and advantages of forming such a company.

Q#2. What are Articles of Association of a public limited company? Can they be altered? If so under what restrictions and limitations.

Q#3. Define a prospectus (a) what is the purpose of issuing a prospectus and (b) what are the liabilities both civil and criminal which arises as a result of an untrue statement in a prospectus.

Q#4. When and for what purposes

(a) statutory meeting

(b) ordinary meeting and

(c) extra ordinary general meetings are convened.

Q#5. Define debenture? (a) State its contents (b) what are its various kinds, (c) for what period can they be issued (d) enumerate the remedies of a debenture holder (e) and how can they be enforced.

Q#6. What is winding-up? How and when winding-up subject to the supervision of the court takes place.

Part-II

Q#7. How may a partner retire from partnership? In what manner may a retiring partner be discharged from liability to third party for acts of the firm done before his retirement as provided in section 32 of the partnership Act?

Q#8. State the circumstances under which a firm is compulsorily dissolved.

Part-III

Q#9. Define the term negotiable instruments. What are its essential characteristics?

Q#10. (a) Define a Bills of Exchange

(b) promissory note and

(c) Cheque.


Paper# 2

Subject: Mercantile Law

Time Allowed: 3 hours

Max Marks: 100

NOTE: Attempt FIVE questions in all, selecting FOUR questions from Part-I and ONE question each from part II. All questions carry equal marks.

 

PART-I

Q#1. Give a brief account of the facts & decision in the case of Salomon vs. Salomon & Co. Ltd.

Q#2. What is a Memorandum of Association of a public limited company? What are its six compulsory clauses? Discuss them in detail.

Q#3. What do you understand by the term ‘Promoter of a Public Limited Company? Enumerate his duties and liabilities and how is he remunerated?

Q#4. Define a public and a private limited company. What is the procedure by adopting which a private company can convert itself into a public limited company?

Q#5. Define prospectus. What is the purpose of issuing such a document? What are the liabilities both civil and criminal for issuing a misleading prospectus.

Q#6. What is a statutory meeting? What is the procedure prescribed by law for holding such a meeting? What particulars a statutory report must contain? What remedy has a shareholder if the meeting is not held or the report not filed?

Q#7. Are there any statutory required qualifications for the appointment of a company’s auditor? Describe the law relating to the method of his appointment, removal and disqualifications. What are the powers and duties of a company’s auditor?

Q#8. Under what circumstances a company may be wound-up under the| supervision of the court?

PART-II

Q#9. What is a ‘Negotiable Instrument’? Explain its special characteristics.

Q#10. Define ‘maturity of an instrument. Discuss the rules regarding the maturity in detail.


[OBJECTIVE]

Subject: Mercantile Law

Time Allowed: 10 Minutes

Maximum Marks: 10

NOTE: Attempt this Paper on this Question Sheet only. Please encircle the correct option. Division of marks is given in front of each question. This Paper will be collected back after expiry of time limit mentioned above.

 

Part-I Encircle the correct option, cutting and overwriting is not allowed. (10)

1. Quasi contract is .
a) Based on contract b) Not a contract
c) Not enforceable by law d) Semi judicial contract
2. A minor can be declared insolvent .
a) Yes b) No
c) Under certain cases d) By law
3. General offer is given to
a) Aspecific person b) Particular group
c) Public at large d) None of these
4. Guarantee contract is between
a) Two person b) Two and more persons
c) Three persons d) Four persons
5. A wagering contract is
a) Valid b) Void
c) Voidable d) None of these
6. A sale is
a) An agreement to sell b) Future sale
c) Sale for price d) None of these
7. In agency contract principal is a
a) Partner b) Investor
c) Share holder d) Commission agent
8. Who is disqualified for making a contract
a) Alien b) Insolvent
c) Diplomatic agent d) All of these
9. A minor under guardian ship can make a contract after the age of:
a) 18 b) 19
c) 21 d) 25
10. Sales of goods act was enacted in:
a) 1930 b) 1935
c) 1940 d) 1945

[SUBJECTIVE]

Subject: Mercantile Law

Time Allowed: 2 Hours 45 Minutes

Maximum Marks: 50

NOTE: ATTEMPT THIS (SUBJECTIVE) ON THE SEPARATE ANSWER SHEET PROVIDED.

 

Part-II Give short details of each of them, each answer carries equal marks. (20)

Q#1: What are the kinds of offer?

Q#2: Can a minor make a contract on behalf of his guardian?

Q#3: Define bailment.

Q#4: What is free consent?

Q#5: What is partnership?

Q#6: Who is common carrier?

Q#7: Who is unpaid seller?

Q#8: What are the modes of determination of price?

Q#9: When a condition can be considered as warranty?

Q#10: What is contract of indemnity?

.

Part-III Give brief answers, each answer carries equal marks. (30)

Q#1: How a contract can be discharged?

Q#2: What do you understand by conditions and warranties?

Q#3: What are the types of negotiable instrume

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