1.

(a) Explain with example communication of offer and communication of acceptance. (6+6)

(b) Explain the term ‘consideration’ and state the exceptions to the rule ‘No Consideration No Contract’. (2+8)

2.

(a) Distinguish between:

i) Condition and Warranty.

ii) Right of lien and right of stoppage of goods in transit. (7+7)

(b) Who is competent to contract? State the position of agreements by a minor. (4+16)

3. Is registration of a partnership firm compulsory? What are the effects of non-registration of a partnership firm? (2+8)

4. What is an agent? When is an agent personally liable to the third parties? (4+10)

5. Explain the rule that “a person cannot give a title better than what he himself has”. Are there any exceptions to this rule? Discuss. (5+15)