BACHELOR'S DEGREE PROGRAMME Term-End Examination June, 2010 ELECTIVE COURSE: COMMERCE ECO-5: Mercantile Law Time: 2 hours Maximum Marks: 50 Note: Attempt any Five questions, All questions carry equal marks. "All agreements are not contracts, but all contracts are agreements". Discuss the statement explaining the essential elements of a valid contract. 3+7 What are the various types of mistakes? What is the effect of a mistake on an agreement? When does the unilateral mistake make the contract void? What remedies are available to an aggrieved party on the breach of a contract? Explain briefly 10 Distinguish between a contract of indemnity and a contract of guarantee, and explain the rights of a surety against the p...
Collection of IGNOU Assignments, Question Papers