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Mercantile Law ( CSS syllabus )

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Mercantile Law CSS Syllabus 2016: Candidates will be expected to display in depth knowledge of basic Mercantile Law concepts, Law of Contract, 1872, Partnership Act, 1932, Electronic Transaction Ordinance, 2002, The Arbitration Law in Pakistan, Consumer’s Protection Act, 2006, Companies Ordinance, 1984, and Electronic Fund Transfer Act, 2007.

Mercantile Law CSS Syllabus

Mercantile Law CSS Syllabus 2016 is given below.

I. Law of Contract, 1872:

  1. Definitions
  2. Essentials of a valid contract (Proposal, Acceptance, Consideration, Free consent, Capacity of Parties, Not hereby declared to be Void)
  3. Kinds of Contracts (Valid, Void, Voidable, Not Voidable)
  4. Variety of Contracts (Contingent, Quasi, Bailment, Pledge, Indemnity, and Agency)
  5. Performance of Contract, contracts need not to be performed.
  6. Breach of contract, consequences of breach, damages for breach of contract.

II.   Sales of Goods Act, 1930:

  1. Definitions
  2. Differences: Sale & agreement to sell, conditions and warranties, express & implied conditions.
  3. Doctrines: Caveat emptor, Nemo dat

III. Right and duties of seller & buyer, rights of unpaid seller.Partnership Act, 1932:

  1. Definitions
  2. Essentials of partnership
  3. Kinds of partnership (partnership at will, particular partnership, limited partnership)
  4. Rights and duties of Partners
  5. Relation of partners to third persons (implied authority of partner, doctrine of holding out)
  6. Incoming and outgoing partners (minor)
  7. Dissolution of firms (compulsory, by agreement, by court, by notice on happening of contingencies)

IV.  Negotiable Instrument Act, 1881:

  1. Definitions
  2. Types of negotiable instruments (Cheque, bill of exchange, promissory note)
  3. Parties to instruments, holder & holder in due course
  4. Rules (as to negotiation, presentment, payment & interest, discharge, noting and protest, compensation, acceptance, payment for honour)
  5. Special rules of evidence
  6. Special provisions relating to cheques & bills of exchange (dishonor, duties of banker)
  7. Provisions as to foreign instruments

V.  Competition Act, 2010:

  1. Definitions
  2. Prohibition and abuse of (dominant position, certain agreements, discipline, marketing practices) Approval of mergers
  3. Competition commission of Pakistan (established, composition, term)
  4. Functions and powers of commission Provisions as to penalty and appeals.

VI.  Electronic Transaction Ordinance, 2002

  1. Definitions
  2. Recognition and presumption of electronic transactions (writing, signature, stamp duty, attestation etc.)
  3. Electronic documents (attribution, acknowledgement, time and place of dispatch)
  4. Certification of service providers
  5. Application to acts done outside Pakistan
  6. Offences & Nature (false information, false certificates, damage to information system etc)

VII. The Arbitration Law in Pakistan:

  1. Definitions
  2. Appointment, number and removal of arbitrator
  3. Award by arbitrator
  4. Powers of court upon award (remittance, modification and setting aside of award)
  5. Types of arbitration (with or without intervention of court)
  6. Stay of legal proceedings in presence of arbitration agreement

VIII.  Consumer’s Protection Act, 2006:

  1. Definitions
  2. Consumer Commission (establishment, powers and functions, complaints before commission and disposal)
  3. Provisions as to compulsory recall of goods
  4. Duties and liabilities of provider of goods (return and refund of goods)
  5. Offences and penalties
  6. Contract between consumer and provider

IX.  Companies Ordinance, 1984:

  1. Definitions
  2. Types of Companies
  3. Fundamental papers of company (Memorandum of association, articles of association, prospectus)
  4. Transfer of shares and debentures
  5. Management and administration (promoters, share holders, directors, chief executive, auditors)
  6. Meeting’s and proceedings (statutory, general, annual general meeting)
  7. Winding up (voluntary, by court)

x.  Electronic Fund Transfer Act, 2007

  1. Definitions
  2. Payment system and their operation (designation of payment system & revocation, real time gross settlement system, governance & operation arrangement)
  3. Payment instruments (designation, issuing and prohibition of instruments)
  4. Clearing and other obligations
  5. Supervisory Control of state bank
  6. Documentation of transfers
  7. Notification of error and liabilities of parties
  8. Law relating to action before court.

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