Road Maps

Mercantile Law

100 marks · 1 paper · 180 minutes per paper

0%Complete

Preparation duration is an estimate and may vary according to your academic background, available study time and familiarity with the subject.

Stage 1Orientation

Understand the official syllabus, paper structure, marks and preparation resources.

Read and annotate the official FPSC syllabusReview every paper, section, marks allocation and official instruction before beginning preparation.

Set up subject resourcesCreate folders or notebooks for syllabus notes, practice, past papers and revision material.

Review the paper formatUnderstand the number of papers, marks, duration and relevant language or MCQ rules.

Stage 2Foundation

Build the concepts, terminology and prerequisite knowledge needed for the subject.

Build a subject glossaryList and define the core terminology needed across the syllabus.

Map prerequisite conceptsIdentify foundational concepts and arrange them before advanced topics.

Stage 3Official Syllabus Coverage

Cover every official FPSC topic in a practical sequence.

Cover: Subject overviewStudy the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: PAPER: MERCANTILE LAW (100 MARKS)

Cover: Law of Contract, 1872Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Law of Contract, 1872

Cover: Sales of Goods Act, 1930Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Sales of Goods Act, 1930

Cover: Partnership Act, 1932Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Partnership Act, 1932

Cover: Rights and duties of PartnersStudy the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Rights and duties of Partners

Cover: Relation of partners to third persons (implied authority of partner, doctrine of holding out)Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Relation of partners to third persons (implied authority of partner, doctrine of holding out)

Cover: Incoming and outgoing partners (minor)Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Incoming and outgoing partners (minor)

Cover: Dissolution of firms (compulsory, by agreement, by court, by notice on happening of contingencies)Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Dissolution of firms (compulsory, by agreement, by court, by notice on happening of contingencies)

Cover: Negotiable Instrument Act, 1881Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Negotiable Instrument Act, 1881

Cover: Competition Act, 2010Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Competition Act, 2010

Cover: Electronic Transaction Ordinance, 2002Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Electronic Transaction Ordinance, 2002

Cover: The Arbitration Law in PakistanStudy the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: The Arbitration Law in Pakistan

Cover: Consumer’s Protection Act, 2006Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Consumer’s Protection Act, 2006

Cover: Companies Ordinance, 1984Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Companies Ordinance, 1984

Cover: Electronic Fund Transfer Act, 2007Study the official syllabus content, prepare notes, identify likely examination angles and mark weak areas. Official scope: Electronic Fund Transfer Act, 2007

Stage 4Consolidation

Prepare short notes, comparisons, evidence, diagrams, facts, formulas or timelines.

Prepare concise revision notesCompress covered material into quick revision notes without removing required syllabus coverage.

Create connections and comparison materialUse tables, diagrams, timelines, formulas, maps or concept links where suitable for this subject.

Stage 5Exam Application

Apply knowledge through the paper-specific practice format.

Prepare provisions, concepts and case/application notesComplete this task under exam-oriented conditions and record areas that need revision.

Practise issue-rule-analysis-conclusion answersComplete this task under exam-oriented conditions and record areas that need revision.

Attempt a timed legal problem and analytical questionComplete this task under exam-oriented conditions and record areas that need revision.

Stage 6Past Papers

Attempt topic-wise and full-length past-paper practice.

Classify past-paper questions by syllabus topicUse validated official past papers and link each question to the relevant syllabus topic.

Attempt a timed past paperAttempt a complete paper or equivalent question set within the official time limit.

Stage 7Revision and Mock Examination

Complete layered revision, weak-area review and a timed mock paper.

Complete first revisionReview all notes and update topics marked Needs Revision.

Complete second revisionFocus on recall, structure, evidence, formulas or language accuracy.

Attempt final mock examinationComplete a timed mock and evaluate coverage, accuracy, structure and time management.

Paper 1 · 100 marks

Subject overview

PAPER: MERCANTILE LAW (100 MARKS)

Definitions

Law of Contract, 1872

Essentials of a valid contract (Proposal, Acceptance, Consideration, Free consent, Capacity of Parties, Not hereby declared to be Void)

Differences: Sale & ag reement to sell, conditions and warranties, express & implied conditions.

Essentials of partnership

Types of negotiable instruments (Cheque, bill of exchange, promissory note)

Prohibition and abuse of (dominant position, certain agreements, discipline, marketing practices)

Recognition and presumption of electronic transactions (writing, signature, stamp duty, attestation etc.)

Appointment, number and removal of arbitrator

Consumer Commission (establishment, powers and functions, complaints before commission and disposal)

Types of Companies

Payment system and their operation (designation of payment system & revocation, real time gross settlement system, governance & operation arrangement)

Kinds of Contracts (Valid, Void, Voidable, Not Voidable)

Sales of Goods Act, 1930

Doctrines: Caveat emptor, Nemo dat

Kinds of partnership (part nership at will, particular partnership, limited

Parties to instruments, holder & holder in due course

Approval of mergers

Electronic documents (attribution, acknowledgement, time and place of dispatch)

Award by arbitrator

Provisions as to compulsory recall of goods

Fundamental papers of company (Memorandum of association, articles of association, prospectus)

Payment instruments (designation, issuing and prohibition of instruments)

Variety of Contracts (Contingent, Quasi, Bailment, Pledge, Indemnity, Agency)

Right and duties of seller & buyer, rights of unpaid seller.

Partnership Act, 1932

Rules (as to n egotiation, presentment, payment & interest, discharge, noting and protest, compensation, acceptance, payment for honour)

Competition commission of Pakistan (established, composition, term)

Certification of service providers

Powers of court upon award (remittance, modification and setting aside of award)

Duties and liabilities of provider of goods (return and refund of goods)

Transfer of shares and debentures

Clearing and other obligations

Performance of Contract, contracts that need not to be performed.

Rights and duties of Partners

Special rules of evidence

Functions and powers of commission

Application to acts done outside Pakistan

Types of arbitration (with or without intervention of court)

Offences and penalties

Management and administration (promoters, share holders, directors, chief executive, auditors)

Supervisory Control of state bank

Breach of contract, consequences of breach, damages for breach of contract.

Relation of partners to third persons (implied authority of partner, doctrine of holding out)

Special provisions relating to cheques & bills of exchange (dishonor, duties of banker)

Provisions as to penalty and appeals.

Offences & Nature (false information, false certificates, damage to information system etc)

Stay of legal proceedings in presence of arbitration agreement

Contract between consumer and provider

Meeting’s and proceedings (statutory, general, annual general meeting)

Documentation of transfers

Incoming and outgoing partners (minor)

Provisions as to foreign instruments

Winding up (voluntary, by court)

Notification of error and liabilities of parties

Dissolution of firms (compulsory, by agreement, by court, by notice on happening of contingencies)

Law relating to action before court.

Negotiable Instrument Act, 1881

Competition Act, 2010

Electronic Transaction Ordinance, 2002

The Arbitration Law in Pakistan

Consumer’s Protection Act, 2006

Companies Ordinance, 1984

Electronic Fund Transfer Act, 2007

Suggested ReadingsLaw of Contract Agarwala, M. Mehmood
Suggested ReadingsSales of Goods Act Pollock & Mulla
Suggested ReadingsBare Acts: Government of Pakistan i) Contract Act, 1872 ii) Negotiable Instrument Act, 1881 iii) Sale of Goods Act, 1930 iv) Companies Ordinance, 1984 v) Arbitration Act, 1940 vi) Competition Act, 2010 vii) Electronic Transactions Ordinance, 2002 viii) Consumers’Protection Act, 2006 ix) Electronic Fund Transfer Act, 2007
Suggested ReadingsCase Law Reading i) Carlil vs. Carbolic Smoke Ball Co. (1893) 1 QB 256 ii) Pharmaceutical Society of Great Britain vs. Boots Cash Chemicals Ltd. (1952) 2 QB 795 iii) Curie vs. Misa (1875) LR 10 Ex 153 iv) Byrne & Co. vs. Van Tienhaven & Co. (1880) 5 CPD 344 v) Mohri Bibi vs. Dharmodas Ghose (1903) 30 IA 114 vi) Derry vs. Peeks (1889) 14 App. Cas 337 vii) Mannu Singh vs. Umadat Panday (1890) 12 ALL 523 viii) Coggs vs. Bernard (1703) 2Ld Raym 909 ix) Lumley vs. Wanger (1852) EW HC (Ch)J 96 x) Manni Devi vs. Ramayan Singh AIR 1985 Pat. 35 xi) Lachhman Joharimal vs. Bapu Khandu (1869) 6 Bombay High Court Reports xii) Mischeff vs. Springett (1942) 2 KB 331 xiii) Watson vs. Coupland (1945) 1 All ER 217 xiv) Ashbury Railway Carriage & Iron Co. Ltd. Vs. Riche (1875) LR 7HL 653 xv) Lee vs. Lee’s Air Farming (1960) 3 All ER420 xvi) Salomon vs. A. Salomon & Co. Ltd. (1897) AC 22 xvii) Royal British Bank vs. Turqnand (1856) 6 E&B 327 xviii) Ram Raja Ram vs. Dhirba Charan Jen AIR 1982 Ori 264 xix) Badridas Kothari vs. Megraj Kothari AIR 1967 Cal 25 xx) Hitachi Ltd. & others vs. Rupali Polyester & others (1998 SCMR 1618) xxi) Marflower Theatre Trust Ltd. Vs. HMRC (2007) STC 880 xxii) Pickering vs. Bux (1812) 15 East 38 xxiii) Liaqat Islam vs. State (2011 YLR 2280) xiv) Alamgir Khalid Chughtai vs. State (PLD 2009 Lahore 259) xv) United States vs. Forty Barrels and Twenty Kegs of Coca Cola, 241 U.S. 265 (1916) xvi) Hedley Byrne & Co. Ltd. Vs. Hella & Partners Ltd. (1964) AC 465

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