ECO-05 Solved Assignment For IGNOU
Course Title: Mercantile Law
Following questions are answered in this solution:
Q. 1. (a) Define ‘Offer’ and ‘Acceptance’. Differentiate between cross offer and invitation to offer with suitable example.
(b) What is consideration? “Consideration need not be adequate”? Comment
Q. 2. (a) What are void agreements? Explain “agreement in restrain of trade” agreemet in restraint of marriage’ with examples.
(b) Who is a minor? “An agreement with minor is void-ab-initio”. Discuss?
Q. 3. (a) Differentiate between dissolution of fimr and dissolution of partnership. How can a firm be dissolved by an order of the Court?
(b) Can a minor be admitted in the benefits as a partner in a partnership firm? Explain his position on attaining majority.
Q. 4. (a) Define condition and warranty in a contract of sale of goods, when condition be treated as a warranty.
(b) What is the difference between contract of idenmnity and contract of guarantee?