SAMPLE COMMERCIAL LAW PAPER

COMMERCIAL LAW




Q.1a)Explain the terms:-
               i)Guarantee      (5 marks)
              ii)Indemnity      (5 marks)
             iii)Bailment         (5marks)

    b)“The liability of a surety is secondary, it is co-existence with that of the
           principal debtor.” Explain the above. (.05 marks)

    c)Explain the duties of commoncarrier. (10marks)

Q.2    Discuss the rights of a surety against
       a)Creditor
       b)Principal debtor
       c)Co-sureties            (15 marks)

Q.3Explain the following as you discuss their role in business:-
i)Mortgage
ii)Pledge                                   (15 marks)

Q.4“The position of a finder of goods is exactly that of a bailee in the case of a
         deposit.” Comment on the above statement                  (15 marks)

Q.5Explain the term ‘lien’ and discuss its essential elements.        (15 marks)