Q. No. 2.

Explain the term consideration and state the exceptions to the rule:

“No consideration, no contract”?

(20)

 

Q. No. 3.

What do you understand by the rule “caveat emptor”?

Are there any exceptions to this rule?

Does this rule apply in Pakistan today?

(20)

 

Q. No. 4.

What do you mean by implied authority of partner?

What are the limitations on authority of partner?

(20)

 

Q. No. 5.

Why does the State Bank of Pakistan Act, 1956 maintain that only State Bank can lawfully issue bearer notes and bills of exchange payable on demand?

What does this tell you about the nature of the paper currency that we use?

(20)

 

Q. No. 6.

What do you understand by fixed and floating charges with reference to company law?

Draw a distinction between the two types.

(20)

 

Q. No. 7.

What changes have been brought about in the rules of the memorandum of association of a company by the new law of 2017?

(20)

 

Q. No. 8.

What is the meaning of “services for consideration” in the consumer law and does it include the services of a doctor or a lawyer?

(20)

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