BUSINESS&COMMERCIALLAW

Timeallowed1hours
Totalmarks100

[N.B. The figures in the margin indicate full marks. Question must be answered in English. Examiner will
takeaccountofthequalityoflanguageandofthewayinwhichtheanswersarepresented.Different
parts,ifany,ofthesamequestionmustbeansweredinoneplaceinorderofsequence.]

Marks
1. Allcontractsareagreementsbutallagreementsarenotcontracts:explain. 8

2. Explainthetermsoundmindinthelawofcontract? 7

3. Whatisagencybyratification?Whataretherequisitesofavalidratification? 8

4. WhatarethedifferencesbetweenContingentContractandQuasiContract? 6

5. Discussinbriefhowanagencymaybeterminatedbyoperationoflaw? 7

6. Definecontractofsaleofgoods.Mentiontheessentialsofacontractofsale. 8

7. Explaintherightsofanunpaidselleragainstthebuyer. 7

8. DefineBailment?WhataretherightsofaBailee? 7

9. DescribetheconsequencesincaseofnonregistrationofaPartnershipFirm. 6

10. WhataretheessentialrequisitesofaPromissoryNote? 5

11. WhatarethedistinctionsbetweenChequesandBillsofExchange? 5

12. DescribethecaseswhichareconsideredasActsofBankruptcy. 10

13. WhatdoyouunderstandbyprotectedTransactionsincaseofbankruptcy? 6

14. What do you mean by an `award? What are the grounds on which the court can modify or
correctanaward? 10

TheEnd