Download PTU B.Com 2020 Dec 3rd Sem 76650 Mercantile Law Question Paper

Roll No.
Total No. of Pages : 02
Total No. of Questions : 18
B.Com (Hons) (2018 Batch) (Sem.?3)

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MERCANTILE LAW
Subject Code : BCOM 302-18
M.Code : 76650
Time : 3 Hrs. Max. Marks : 60
INST RUCT IONS T O CANDIDAT ES :

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1 .
SECT ION-A is COMPULSORY cons is ting of TEN questions carrying TWO marks
each.
2 .
SECT ION-B cons ists of F OUR Sub-sec tions : Un its-I, II, III & IV.

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3 .
Eac h Sub-section contains TWO questions each , carry in g T EN ma rks e ach .
4 .
Students have to atte mpt an y ONE ques tion from each Sub-section.
SECTION-A

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Answer briefly :
1.
Distinguish between Agreement and Contract.
2.
`Ignorance of law is no excuse'. Explain.

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3.
Who is a Co-surety?
4.
Is deposit of money a bailment?
5.

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Distinguish between sale and hire purchase agreement.
6.
What is meant by Caveat Emptor?
7.
Define the term `Crossing a cheque'.

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8.
Explain `Drawee in case of need'.
9.
Define Partnership Act.
10. What is a voidable contract?

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SECTION-B
UNIT-I

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11. What do you understand by the term `Acceptance'? What conditions must be fulfilled to
convert a proposal into a promise?
12. "Impossibility of performance is one of the modes in which a contract is discharged."
Keeping this statement in view comment upon the doctrine of frustration in relation to
discharge of contracts.

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UNIT-II
13. What is a contract of guarantee? What are its characteristics? Distinguish between a
contract of guarantee and a contract of indemnity.
14. "No one can become the agent of another person, without the will of that other person."
Examine the statement.

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UNIT-III
15. "If an unpaid seller loses possession of the goods, does he lose the right of the lien"?
Elucidate this statement by explaining the rights of an unpaid seller.
16. Write a note on Consumer Dispute Redressal Commission (the National Commission) as
to its composition, Jurisdiction and Procedure to be followed by it.

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UNIT-IV
17. Define the term Promissory note. Discuss the essential elements of it. Also distinguish
between promissory note and bills of exchange.
18. `A holder in due course gets a title free from equities'. Explain the statement and discuss
the various privileges of a holder in due course.

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NOTE : Disclosure of Identity by writing Mobile No. or Making of passing request on any
page of Answer Sheet will lead to UMC against the Student.
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