ECO 5 All Important Questions for Exam || Mercantile Law ||
If you are here to get the important questions of ECO 5 to score more than 90% in the exam then I would like to let you know that you guys are in the right place. Even if you are from any session, January or July, these questions will be very much important for you all.
How can you be so sure that these questions will surely come in exams?
IGNOU always repeats the questions in every exam and if you download previous 10 years question papers, you will find that these are the most common questions that have been repeated in exams by IGNOU.
Questions:
1.
Define
Contract. Explain essentials of a valid Contract.
2.
Difference between Void and Voidable Contract.
3.
Explain
the following terms with examples
·
Cross
offer
·
Counter
Offer
·
Implied offer
·
General Offer
·
Invitation offer
·
Standing offer
·
Express Offer
4.
What is Acceptance? Who can accept an offer
and how?
5.
What is proposal?
6.
Law
relating to communication of offer acceptance and revocable offer.
7.
Explain
the following terms with examples
8.
Cross
offer
9.
Counter
Offer
10.
Implied offer
11.
General Offer
12.
Invitation offer
13.
Standing offer
14.
Express Offer
15.
What is Acceptance? Who can accept an offer
and how?
16.
What is proposal?
17.
Law
relating to communication of offer acceptance and revocable offer.
18.
Who
is Competent to Contract? State the positions of contract with a minor
exceptions.
19.
Who are people with unsounded mind and what
are the legal exceptions for them?
20.
Difference
between Coercion and Under Influence.
21.
Difference between Fraud and Mispresentation.
22.
Mere science as to fact is not fraud? Explain
with examples.
23.
In
what cases a Contract without Consideration is valid?
24.
Define Consideration. Discuss various types of
Consideration.
25.
Do you agree with the view, “No consideration, No contract”?
26.
Discuss the rule that “a stranger to a
contract can not sue on the contact. Are there any exceptions to this rule?
27.
Discuss the Doctrine of public policy with
examples.
28.
In
what cases a Contract without Consideration is valid?
29.
Define Consideration. Discuss various types of
Consideration.
30.
Do you agree with the view, “No consideration, No contract”?
31.
Discuss the rule that “a stranger to a
contract can not sue on the contact. Are there any exceptions to this rule?
32.
Discuss the Doctrine of public policy with
examples.
33.
Difference
between Contingent and Wagering Agreement
34.
Meaning and Essentials of Wagering Agreement.
35.
What
are Contingent Contracts? Rules of enforcement of such contracts with examples.
36.
Difference
between Contingent and Wagering Agreement
37.
Meaning and Essentials of Wagering Agreement.
38.
What
are Contingent Contracts? Rules of enforcement of such contracts with examples.
39.
Write
a short note on “Quantum Meruit”.
40.
What is “Breach of Contracts”? Remedies to
aggrieved party on the Breach of Contract.
41.
What are Quasi Contract? Enumerate the types
of such contracts dealt with in Indian Contract Act?
42.
Write
a short note on “Quantum Meruit”.
43.
What is “Breach of Contracts”? Remedies to
aggrieved party on the Breach of Contract.
44.
What are Quasi Contract? Enumerate the types
of such contracts dealt with in Indian Contract Act?
45.
Difference
between “Contract of Indemnity” and “Contract of Guarantee”
46.
Discuss the nature of surety’s liability.
47.
Discuss the rights of surety against
·
Co-sureties
·
Principle Debtor
·
Creditor
48.
Short
note on Pledge by Mercantile Agent.
49.
Rights and Duties of Bailor and Bailee?
50.
Rights and responsibilities of Pledger and
Pledge?
51.
What do you understand by “Lien”? Describe
Particulars Lien and general Lien of Bailee.
52.
Rights
and Duties of Finder of goods.
53.
How
can an Agency be created?
54.
Rights and duties of an Agent.
55.
Define Agent and Principle. Can a minor be an
Agent?
56.
When
may an Agent sue or be sued personally on contract entered into him on behalf
of his principle.
57.
What
do you mean by Carriage by Air?
58.
List the Documents used in carriage by Land or
by Sea.
59.
Procedure
of registration of a firm.
60.
What are the consequences of Non Registration?
61.
Define Partnership and it’s characteristics.
62.
Circumstances under which a person can be made liable as a
partner even if he is not a partner.
63.
How will you determine if a group of person is
a partnership or not?
64.
Can a
minor be admitted to partnership? If yes, then what are the exceptions and
guidelines?
65.
Comment
on the following statement:
·
The
Indian Partnership Act has effectively ensured the registration of the firm
without making it compulsory
·
Mere participation in profit of a business is
not a conclusive test existence of partnership.
·
The relationship of partnership arises from
agreement and not from states.
66.
Explain
the rights and duties of
·
Incoming Partner
·
Outgoing Partner
67.
Mutual rights and duties of partners in
absence of any other partner. Express agreement between them.
68.
Explain “Implied authority of a partner”.
69.
Describe the restriction on the implied
authority of a partner.
70.
Explain
the rights and duties of
71.
Incoming Partner
72.
Out going Partner
73.
Mutual rights and duties of partners in
absence of any other partner. Express agreement between them.
74.
Explain “Implied authority of a partner”.
75.
Describe the restriction on the implied
authority of a partner.
76.
Define
a contract of Sale. How is a Contract of sale different from an agreement of
sell?
77.
Essentials of a valid contract of sell.
78.
What is meant by goods? What are the various
types of Goods?
79.
Difference between “Sell” and “Hire-purchase
Agreement”
80.
Define
and Distinguish between “Condition” and
“Warranty”
81.
What is Doctrine of “Caveat emptor”? What are
the exceptions to this doctrine?
82.
State 2 implies warranties in a contract of
sale of goods.
83.
When a buyer has examined the goods, the
conditions as to merchantability extends only to the latent defects. Comments?
84.
State
briefly the rules regarding the transfer of ownership from seller to the buyer?
85.
“No seller of goods can give to the buyer a
better title” Explain this rule. Are there any exceptions to this rule?
86.
Define
an Unpaid seller.
87.
Explain the rights of an Unpaid Seller.
88. Difference between the right of lien and stoppage in transit.
Guys please read the questions carefully so that you do not miss out any important questions.
Good Luck for your Exams Students 😉😉😉