1

Model Paper of Mercantile Law/Business Law

Corporate Law 1st Sessional BBA Semester Department: Management Sciences Course Instructor: Rehan Aziz Shervani Total Marks :10 Time Allowed: 1 Hour All questions carry equal marks.

---------------------------------------------------------------

Objective
Section 1 Q.1 -Tick the right answer (i)The definition , Law is the command of the sovereign was given by: (a) John Lock (b)Marshall (c ) Austin (ii) The term Void able means: (a) Wrong

(b) curable (c) Precedent

(iii) The term consideration means: (a) Stipulation

(b) Condition (c) Value for value

(Iv) The term Void-ab-initio means: (a) Clear in the eyes of law

(b) Having legal value zero from very beginning (c) Wrong decision of court of law
(V) The Concept, Salus est Populi Suprema Lex means: (a) Long Live the King (b) Justice delay justice denied (c ) Welfare of people is the supreme law. (vi) The law of contract is also known as: (a) Law of people

(b) Law of Land (c) Law of obligations

(vii) Void-able contract is equal to: (a) Agreement + enforceability

(b) Promise + offer (c) Consideration + agreement (d) Agreement + enforceability at the option of aggrieved party
(viii) Void contract is equal to: (a) Promise +consideration

(b) Offer + acceptance (c) Contract-enforceability

(ix) Agreement is equal to: (a) Offer +promise

(b) Promise+ enforceability (c) Promise + consideration

(x) The term abstinence means: (a) power (b) authority (c) restraint Section 2 Q.2 Write short answers of the following. (i) An agreement enforceable by law is a contract. Unwind the definition.

(ii) Every promise or every set of promises forming the consideration for each other is an agreement. Unwind the definition.

(iii) A proposal when accepted becomes a promise. Unwind the definition in your own words.

(iv) Briefly discuss the following definition: When at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinence or promise is called the consideration for the promise.

(v) Who is competent to contract?

(vi) What is constructive or quasi contract?

(vii) What is implied contract?

(viii) Is there any exception to the rule, No bilateral consideration no contract?

(ix) Discuss the following definition of offer: When one person signifies to another his willingness to do or to abstain from doing any thing with a view to obtain the assent of that other to such act or abstinence he is said to make a proposal

(x) Unwind the following definition ; When the person to whom the proposal is made signifies his assent thereto the proposal is said to be accepted.