ECO-05 Solved Assignment 2018-19
Course Code: ECO-05
Course Title : MERCANTLE LAW
Assignment Code: ECO-05/TMA/2018-19
Coverage : All Blocks
Attempt all the questions.
Q.1 (a) “A contract with a minor is void ab-initio” Explain? Can a minor become an agent
and a partner? 6+2+2
(b) Define consideration. Are there any cases where a contract without consideration
is valid? Explain with examples. 2+8
Q.2 (a) Distinguish between fraud and misrepresentation. What are their effects on the
validity of a contract? 5+5
(b) Point out the difference between a contract of indemnity and a contract of
guarantee. 10
Q.3 (a) What is an agency? When an agent is personally liable? 3+7
(b) What are the grounds on which a partnership firm is dissolved? Explain. 10
Q.4 (a) Distinguish between ‘Bailment’ and ‘pledge’. Can “non-owners create a valid
pledge”? Explain. 10+6
(b) Who is an unpaid Seller? 4
Q.5 (a) Distinguish between ‘general lien” and ‘particular lien’. 10
(b) Explain the different remedies available to an aggrieved party for breach of a
contract.
