.Mr. John wants to sell his car to Mr. Sam. They both have entered into the contract and they mutually agreed for a consideration of Rs.1000 only. John sold the car later Max John's son files a case against Sam stating that the consideration was very less hence the contract needs to be cancelled. Give your comments.

2. Any person who has been appointed to represent another in dealings with parties is an agent .There are however persons who regularly act for others in business transactions as professional agents. Discuss four examples of professional agents

3. Under sale of good act where there is a contract for sale of specific or ascertained goods the property in goods is transferred to the buyer at such a time as the parties to the contract intend it to be transferred. Discuss the rules for determining when property passes to the buyer from the seller.

4. Highlight various essentials characteristics of a contract for sale of goods.

5. An unpaid seller enjoys the right of lien and stoppage in transit. With reference to the above statement explain the differences between lien and stoppage in transit.

6. In relation to the law of insurance explain the four categories of insurance covers

7. State and explain the major principles of insurance as per the insurance act

8. There are various types of bill of exchange. Define the following bill of exchange, order bills and bear bills.

9. In relation to negotiable instruments define the term qualified acceptance and highlight forms of qualified acceptance.

10. Define the term promissory note as negotiable instrument and explain the characteristics of negotiable instruments