OA 04

THIRD SEMESTER – November 2008

BU 3500 – MERCANTILE LAW

Date : 06-11-08 Dept. No. Max. : 100 Marks

Time : 9:00 – 12:00

PART – A

Answer ALL Questions:- ( 10 x 2 = 20)

What do you understand by consensus ad idem?
Distinguish with an example ‘jus in rem’ and ‘jus in personam’.
What is a wagering agreement?
Can a third party ( a stranger to the contract) come forward to perform the contract?
Who is a private carrier?
What do you understand by the doctrine of subrogation?
Distinguish a sub agent from a substituted agent.
Does hire purchase agreement amount to a sale? Explain.
Under the CST Act, where is a sale said to take place (i.e. Place of sale)?
Give two exemptions to the rule ‘Nemo dat non quod habet’.

PART – B

Answer any FIVE Questions:- ( 5 x 8 = 40)

Define an offer. When does an offer come to an end?
Examine the legal position of minors in contract.
Explain and illustrate the effect of ‘mistake of fact’ on contracts.
Explain the provisions on assignment of contracts.
Examine the liabilities of a common carrier.
What do you understand by maritime perils?
Can an agent be held liable for the contracts entered into by him on behalf of the principal? Explain.
Briefly discuss what kinds of sale come under the definition of ‘sale in the course interstate trade or

commerce’.

PART – C

Answer any TWO Questions:- ( 2 x 20 = 40)

In the case Abdul Aziz Vs Masum Ali, it was held “ the promise was not enforceable because there

was no consideration in the sense of benefit”. Explain the case and bring out the legal requirements for

a valid consideration.

“Impossibility of performance is as a rule, not an excuse for non performance of a contract”. Discuss.
What are the rights and duties of the buyer under the Sale of goods Act?

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