Questions

1. A guarantee contract when faced with some difficulties there will be situations where

surety's secondary liability comes to an end. Therefore, discuss the vitiating factors or ways

of discharge by invalidation of guarantee contract.

2. However, the partners may on their own accord reduce the basis of their relationship into a

formal document detailing the terms and the condition of the association. The document is

the Partnership Deed or Agreement or Articles of Partnership thus list the contents of a

partnership deed.

3. Non-registration of a partnership form of business organization may be faced with some

consequences since it is against the law. In addition to so, list the tights of a firm not affected

with non-registration.

4. The interests of partners in the partnership property and their rights and duties in relation to

the partnership shall be determined, subject to any agreement express or implied between the

partners. Discuss the rules as to interests and duties of partners.

5. A partnership deed plays an important role as it contains rules and rights that govern the

partners and should be abided by. With reference to a partnership deed, list the rules

applicable in absence of partnership deed.

6. Despite the on-going partnership contract, it can be dissolved or come to an end due to courts

intervention or without depending on various circumstances. Discuss the ways a partnership

can be dissolved without courts intervention.

7. Insurance is a contract whereby a party known as the insurer undertakes, in consideration for

a sum of money known as premium paid by the insured, to pay a sum of money or its

equivalent on the happening of a specified future event. Explain the essentials of an

insurance contract.

8. Insurance contracts may be classified into various categories on basis of circumstances

affecting it such as interest and event insured, nature of the contract and others. Hence

discuss the principles of insurance.

9. Despite the advantages of an insurance contract, it has also some consequences that lead to

its termination. Based on insurance contract discuss ways in which its either terminated or

comes to an end.

10. Bailment is a contract whereby a party known as bailor delivers goods to another known as

bailee with specific instructions that the goods be dealt with in a particular manner or be

returned as soon as the purpose for which they were bailed is accomplished. List the contents

of bailment.