Mercantile Law CSS Paper 2012

Federal Public Service Commission
Examination of Competitive Examination
For Recruitment to Posts in BS-17 Under
The Federal Government, 2012

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

Q.2 section 10 of the contract act says that “all agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object, and or not expressly declared to be void’. explain fully what is intended by the wording ‘not expressly declared to be void’. be brief and to the point.

Q.3 discuss the circumtances under which a contract is discharged.

Q.4 what rights are conferred on an unpaid seller ? explain an unpaid seller’s lien. under what circumstances an unpaid seller loses his lien?

Q.5 explain ‘ sale by auction’. when does title of goods passes from he seller to a buyer in an auction sale?

Q.6 how would a court determine the existence of a partnership ? explain the principle laid down in Cox v . hickman.

Q.7 discuss the significance of ‘resolutions’ in regulating the affairs of a company . explain what is meant by the doctrine of ultra vires a company?

Q.8 who may be appointed as an arbitrator? describe the powers of an arbirator under the arbitration act, 1940.