The paper of Mercantile Law comprising of 100 marks is having remarkable significance in the context of its scoring image, among all the optional subjects.
But a methodical pattern of study along with purpose meant approach is requisite for scoring good marks in this paper. In the last few years, the pattern of this paper has been oscillating between theoretical and scenario-based questions but in the last two years it has been a combination of both these. So in order to attempt the paper it is essential for the students to understand how to handle the scenario-based questions. It has always been a hard nut to crack for the students to handle a scenario question. In this regard the following steps can become helpful:
Steps to Solve the Situation-based Question:
Write the exact law point concerned with the situation of the question, according to your assessment.
Write the definition of the law point you have finalised in step one.
Now relate the definition of the same law point with the situation given in question, in order to prove that you have rightly picked the law point.
Give some illustration or example of case law in this regard.
Relate the illustration / case law with the situation.
Now give your concrete decision in crystal clear words without any ambiguity that what should be the decision of the given scenario, by fully concentrating on the aspect ‘REQUIRED’ in the question.
A general tip for the candidates
It is a very interesting phenomenon that at whatsoever level of examination the students are appearing, but as soon as the question paper comes in front of a student, it is immediately divided into two parts within the mind of almost every student. One part is that which is known to him and the other one is that which is not known to him. Unfortunately that particular part of the paper which is not known to him is having such a huge impact on his nerves that the part well-known to him start vanishing from his mind. So it is highly suggested that the questions a student doesn’t know, he should forget about those and fully concentrate on the questions about which he is having some knowledge. It’s a game of holding your nerves.
Expected Questions of Mercantile Law for CSS-2012.
1. All the contracts are agreements but all the agreements are not contract. Discuss.
2. Define Consideration. No consideration, no binding of performance, give exceptions to the rule.
3. What is meant by a Void Agreement? What makes it different from a Void Contract? Write in detail the situations where an agreement is considered void abinitio.
4. What is meant by contractual capacity? Discuss fully the status of the agreements made with a minor.
5. Write the various modes in which a contract can be discharged. What remedies are available to an aggrieved party?
6. Define Bailment? What are the rights and duties of bailor and bailee? How a contract of bailment is terminated?
7. Distinguish between a contract of Indemnity and Guarantee. The discharge of principal debtor is the discharge of surety. Explain with illustrations.
8. Define agency. How an agency is created? Write the duties of an agent and when his agency is terminated.
9. Define Partnership. Explain the position of a minor in a partnership in detail.
10. Differentiate between sale and an agreement to sell. What is meant by unpaid seller? Write in detail the rights of an unpaid seller.
11. Define negotiable Instruments. Differentiate between a Cheque and a Bill of Exchange.
12. Define Prospectus. Write the contents of a prospectus and what liabilities this document creates for the issuing authority.
13. What is an Article of Association? How this document can be altered?
Element of Mercantile Law by N. D. Kapoor
Mercantile Law by M. C. Kuchhel
Mercantile Law by M. C. Shukla
Top 20 Questions of Mercantile Law, Exam Cram Series of JBD