Section – B: Mercantile Law (40 Marks )
Level of Knowledge :
Objective . . .
- To test the general comprehension of elements of mercantile law
Contents . . .
- The Indian Contract Act , 1872: An overview of Sections 1 to 75 covering the general nature of contract , consideration , other essential elements of a valid contract , performance of contract and breach of contract.
- The Sale of Goods Act, 1930: Formation of the contract of sale – Conditions and Warranties – Transfer of ownership and delivery of goods – Unpaid seller and his rights.
- The India Partnership Act, 1932: General Nature of Partnership – Rights and duties of partners – Registration and dissolution of a firm.