CSS 2020 Mercantile Law Paper

A plaintiff offered to purchase a lodge owned by defendants for Rs. 60,000/-. He wrote to the defendant's agent asking whether his offer had been accepted and expressed willingness to pay more if reasonable. Agent replied: 'Won't accept less than Rs. 100,000'. Plaintiff accepted this and sued for specific performance. Was a contract concluded? Provide reasons.

How can one differentiate between a void agreement and an unlawful agreement? Explain the agreements that have been expressly declared as void.

What are 'conditions and warranties'? Differentiate between the two and explain the 'implied conditions' in a contract of sale.

Companies hold various kinds of meetings to regulate their business. Explain these meetings with special reference to the 'statutory meeting' and the 'statutory report'.

In light of the statement that partnership is a relationship of agreement, explain the ingredients of a partnership and the test required to determine the existence of a partnership.

What is an 'award'? Describe fully the grounds for setting aside an award. Does a court have the power to set aside an award suo motu?

What is meant by 'merger' under the law relating to competition in Pakistan? What is the procedure for the approval of a merger? Discuss the powers of the Competition Commission regarding the second-phase review.