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ECO-05 Solved Assignment 2018-19 Mercantile Law (English Medium)


Course Code : ECO-05

Course Title: Mercantile Law

Assignment Code : ECO-05/TMA/2018-19

Medium : English


ECO-05 Solved Assignment For IGNOU

Course Title: Mercantile Law

Following questions are answered in this solution:

Q. 1. (a) “A contract with a minor is void ab-initio” Explain? Can a minor become an agent and a partner?
(b) Define consideration. Are there any cases where a contract without consideration is valid? Explain with examples.

Q. 2. (a) Distinguish between fraud and misrepresentation. What are their effects on the validity of a contract?
(b) Point out the difference between a contract of indemnity and a contract of guarantee.

Q. 3. (a) What is an agency? When an agent is personally liable?
(b) What are the grounds on which a partnership firm is dissolved? Explain.

Q. 4. (a) Distinguish between ‘Bailment’ and ‘pledge’. Can “non-owners create a valid pledge”? Explain.
(b) Who is an unpaid Seller?

Q. 5 (a) Distinguish between ‘generallien” and ‘particular lien’.
(b) Explain the different remedies available to an aggrieved party for breach of a contract.


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