IGNOU| MERCANTILE LAW (ECO - 05)| QUESTION PAPER – (JUNE

IGNOU| MERCANTILE LAW (ECO - 05)| QUESTION PAPER – (JUNE - 2023)| (BDP)| ENGLISH MEDIUM

Note: Answer any five questions. All questions carry equal marks.

1. What is a contract? Explain the essentials of a valid contract. 2,8

2. Define 'Coercion' and 'Undue influence' with examples. Distinguish between coercion and undue influence. 4, 6

3. Explain the various ways by which a contract can be discharged by mutual agreement. 10

4. Define the contract of guarantee with example. Bring out the differences between a contract of indemnity and a contract of guarantee. 2,8

5. What are contingent contracts? Discuss the rules regarding enforcement of such contracts. Give examples. 2,8

6. (a) Who may be an agent? Explain any two circumstances when an agent incurs personal liability. 2,4

(b) Explain agent's right to compensation and right to retainer. 4

7. Define partnership and describe the essential characteristics of a partnership. 2,8

8. What is meant by goods under the contract of sale? Explain the various types of goods. 2,8

9. Write short notes on any two of the following: 5, 5

(a) Doctrine of Caveat Emptor

(b) Quasi contracts

(d) Void Agreements

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