I select the best option/answer and fill in the appropriate circle on the omr answer sheet. 20x1 20 ii answers given anywhere, other than omr answer sheet, shall not be considered. 160 jurisdiction in company matters is to be exercised by: a civil court 160 b any judge of high court c company bench of high court 160 d none of these 2. 160 any alteration in article of association affecting the substantive right or liabilities of members of the company can be made: a if board of director pass such alteration 160 b by vote of simple majority of members c by a vote 190 majority of members 160 d none of these 3. 160 a special audit of a company can be ordered by a commission on an application made by members holding not less than: a 20% voting rights 160 b 25% voting rights c 51% voting rights 160 d none of these 4. 160 a listed company in accordancewith companies ordinance isrequired to have at least: a two director 160 b seven director 160 c three directors d none of these 5.

160 when a negotiable instrument may be construed either as a promissory note or bill of exchange, law recognizes it as: a promissory note b bill of exchange c ambiguous instrument d none of these 6. 160 when a bill of exchange has been dishonoured, the holder can cause such dishonourto be certified by a notary public, such certificate is a: a claiming 160 b presentment 160 c protest 160 d none of these 7. 160 if a cheque is transferred to any person to constitutehim as a holder, the instrument is said to be: a delivered 160 b negotiated 160 c presented 160 d none of these 8. 160 a partner can be expelled from a firm: a by simple majority of partners 160 b if all partner consent to it c only by exercise of powers conferred by the contract 160 d none of these 9.

160 a new partner can be inducted in an existing partnership: a by recommendation of any partner 160 b by the consent of all partners c by the consent of half of the partners 160 d none of these 10. 160 any admission made by a partner regarding the affairs of the firmin ordinary course of business: a is evidence against the firm 160 b has no validity against the firm c ordinary statement 160 d none of these 11. 160 an agreement between partners imposing reasonable restriction on a partner for not carrying on any business within a specified time or local limits on ceasing to be a partner is: a void 160 b valid 160 c illegal 160 d none of these 12. 160 the goods which form the subject of a sale can be: a existing goods 160 b existing and future goods c existing, future and contingent goods d none of these 13. 160 if the seller make use of pretended bidding to raise the price the sale is: a voidable 160 b void 160 c illegal 160 d none of these 14.

160 the principle of indemnity does not apply in the case of: a life insurance 160 b marine insurance 160 c fire insurance 160 d none of these 15. 160 promise which form the consideration or part of the consideration for each other are called: a agreement 160 b contract 160 c reciprocal agreement 160 d none of these 16. Aslam applied to a bank for a loan at a time when there is stringency in the money market, the banker declines to make the loanexcept at an unusually high rate of interest, this is called: a undue influence 160 b transaction in the ordinary course of business c free consent 160 d none of these 17. 160 when consent to an agreement iscaused by coercion, fraud, or misrepresentation, the agreement is: a valid 160 b void 160 c voidable 160 d none of these 18. 160 a person who finds goodsbelonging to another and takes them into his custody is subject to the same responsibilities as: a trustee 160 b owner 160 c bailee 160 d none of these 19.

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160 an agreement in restraint of the marriage ofany person other than a minor is called. 160 authority of an appointed arbitrator or umpire can be revoked: a at the discretion of either party 160 b with the leave of the court c irrevocable 160 d none of these note: i 160 part iiis to be attempted on the separate answer book. Iv extra attempt of any question orany part of the attempted question will not be considered. 160 discuss the methods for discharge of contract and clarify discharge by operation of law and discharge by agreement with examples q. Under what circumstances the court can order the compulsory winding up of a company and in what circumstance may a company be wound up voluntarily? q. Imran shopping in a self service market, he picked up a bottle of maka cola from a shelf.

Imran claim paper: mercantile law 100 marks revised scheme and syllabus for css competitive examination 2016 i. Under what circumstances will a banker be justified in dishonoring a cheque of a customer? 3. Discuss advantages and disadvantages of registration and non registration of a firm. State the exceptions to the rule that an agreement without consideration is void. State the various modes in which a contract may be discharged and the modes in which a man may be discharged from the obligations of a contract. Explain the general rule that no one can give a better title than he himself possesses.

1 payment can be made on a bill of exchange to: a its bearer b only to a person specified therein c none of these. 2 how a cheque is treated by a banker among the following when the balance at credit of drawer is found insufficient a be dishonored. 3 'accommodation party’ is a person who has signed a negotiable instrument: a on receiving the value thereof.

4 which of the following is correct: a a provincial government can constitute a corporate law authority. B the minimum number of members of the corporate law authority is five c none of these. 5 which of the following is correct: a any member of a public limited company can appoint more than one proxy to attend any meeting. When undue influence is used in a contract by one party against the other, the contract becomes: a void b void able c illegal 8 which of the following is correct: a the bailee can mix the goods of the bailor with his own goods under the law: b cannot mix 9 pledgor or pawnor are: a same persons b different persons 10 the principal must ratify the contract: a as a whole b in part. 13 if the seller of immovable property has effected a fire insurance policy in respect of the property, the purchaser, of the property: a cannot claim any benefit of it. 14 the delivery of the insurance policy to the assured is: a essential to make binding contract.

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