MERCANTILE LAW CSS Syllabus

PAPER: MERCANTILE LAW (100 MARKS)

I. Law of Contract, 1872.
 Definitions
 Essentials of a valid contract (Proposal, Acceptance, Consideration, Free consent, Capacity of Parties, Not hereby declared to be Void)
 Kinds of Contracts (Valid, Void, Voidable, Not Voidable)
 Variety of Contracts (Contingent, Quasi, Bailment, Pledge, Indemnity, Agency)
 Performance of Contract, contracts that need not to be performed.
 Breach of contract, consequences of breach, damages for breach of contract.

II. Sales of Goods Act, 1930
 Definitions
 Differences: Sale & agreement to sell, conditions and warranties, express & implied conditions.
 Doctrines: Caveat emptor, Nemo dat
 Right and duties of seller & buyer, rights of unpaid seller.

III. Partnership Act, 1932
 Definitions
 Essentials of partnership
 Kinds of partnership (partnership at will, particular partnership, limited partnership)
 Rights and duties of Partners
 Relation of partners to third persons (implied authority of partner, doctrine of holding out)
 Incoming and outgoing partners (minor)
 Dissolution of firms (compulsory, by agreement, by court, by notice on happening of contingencies)

IV. Negotiable Instrument Act, 1881
 Definitions
 Types of negotiable instruments (Cheque, bill of exchange, promissory note)
 Parties to instruments, holder & holder in due course
 Rules (as to negotiation, presentment, payment & interest, discharge, noting and protest, compensation, acceptance, payment for honour)
 Special rules of evidence
 Special provisions relating to cheques & bills of exchange (dishonor, duties of banker)
 Provisions as to foreign instruments

V. Competition Act, 2010
 Definitions
 Prohibition and abuse of (dominant position, certain agreements, discipline, marketing practices)
 Approval of mergers
 Competition commission of Pakistan (established, composition, term)
 Functions and powers of commission
 Provisions as to penalty and appeals.

VI. Electronic Transaction Ordinance, 2002
 Definitions
 Recognition and presumption of electronic transactions (writing, signature, stamp duty, attestation etc.)
 Electronic documents (attribution, acknowledgement, time and place of dispatch)
 Certification of service providers
 Application to acts done outside Pakistan
 Offences & Nature (false information, false certificates, damage to information system etc)

VII. The Arbitration Law in Pakistan
 Definitions
 Appointment, number and removal of arbitrator
 Award by arbitrator
 Powers of court upon award (remittance, modification and setting aside of award)
 Types of arbitration (with or without intervention of court)
 Stay of legal proceedings in presence of arbitration agreement

VIII. Consumer’s Protection Act, 2006
 Definitions
 Consumer Commission (establishment, powers and functions, complaints before commission and disposal)
 Provisions as to compulsory recall of goods
 Duties and liabilities of provider of goods (return and refund of goods)
 Offences and penalties
 Contract between consumer and provider

IX. Companies Ordinance, 1984
 Definitions
 Types of Companies
 Fundamental papers of company (Memorandum of association, articles of association, prospectus)
 Transfer of shares and debentures
 Management and administration (promoters, share holders, directors, chief executive, auditors)
 Meeting’s and proceedings (statutory, general, annual general meeting)
 Winding up (voluntary, by court)

X. Electronic Fund Transfer Act, 2007
 Definitions
 Payment system and their operation (designation of payment system & revocation, real time gross settlement system, governance & operation arrangement)
 Payment instruments (designation, issuing and prohibition of instruments)
 Clearing and other obligations
 Supervisory Control of state bank
 Documentation of transfers
 Notification of error and liabilities of parties
 Law relating to action before court.

MERCANTILE LAW CSS Syllabus

PAPER: MERCANTILE LAW (100 MARKS)

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