Detailed Syllabus Outline
- > Definitions
- > Essentials of a valid contract (Proposal, Acceptance, Consideration, Free consent, Capacity of Parties, Not hereby declared to be Void)
- > Kinds of Contracts (Valid, Void, Voidable, Not Voidable)
- > Variety of Contracts (Contingent, Quasi, Bailment, Pledge, Indemnity, Agency)
- > Performance of Contract, contracts need not to be performed.
- > Breach of contract, consequences of breach, damages for breach of contract.
- Definitions
- Differences: Sale & agreement to sell, conditions and warranties, express & implied conditions.
- Doctrines: Caveat emptor, Nemo dat
- Definitions
- Essentials of partnership
- Kinds of partnership (partnership at will, particular partnership, limited partnership)
- Rights and duties of Partners
- Relation of partners to third persons (implied authority of partner, doctrine of holding out)
- Incoming and outgoing partners (minor)
- Dissolution of firms (compulsory, by agreement, by court, by notice on happening of contingencies)
- Definitions
- Types of negotiable instruments (Cheque, bill of exchange, promissory note)
- Parties to instruments, holder & holder in due course
- Rules (as to negotiation, presentment, payment & interest, discharge, noting and protest, compensation, acceptance, payment for honour)
- Special rules of evidence
- Special provisions relating to cheques & bills of exchange (dishonor, duties of banker)
- Provisions as to foreign instruments
- Right and duties of seller & buyer, rights of unpaid seller.
- Prohibition and abuse of (dominant position, certain agreements, discipline, marketing practices)
- Approval of mergers
- Competition commission of Pakistan (established, composition, term)
- Functions and powers of commission
- Provisions as to penalty and appeals.
- Definitions
- Recognition and presumption of electronic transactions (writing, signature, stamp duty, attestation etc.)
- Electronic documents (attribution, acknowledgement, time and place of dispatch)
- Certification of service providers
- Application to acts done outside Pakistan
- Offences & Nature (false information, false certificates, damage to information system etc)
- Definitions
- Appointment, number and removal of arbitrator
- Award by arbitrator
- Powers of court upon award (remittance, modification and setting aside of award)
- Types of arbitration (with or without intervention of court)
- Stay of legal proceedings in presence of arbitration agreement
- Definitions
- Consumer Commission (establishment, powers and functions, complaints before commission and disposal)
- Provisions as to compulsory recall of goods
- Duties and liabilities of provider of goods (return and refund of goods)
- Offences and penalties
- Contract between consumer and provider
- Definitions
- Types of Companies
- Fundamental papers of company (Memorandum of association, articles of association, prospectus)
- Transfer of shares and debentures
- Management and administration (promoters, share holders, directors, chief executive, auditors)
- Meeting’s and proceedings (statutory, general, annual general meeting)
- Winding up (voluntary, by court)
- Definitions
- Payment system and their operation (designation of payment system & revocation, real time gross settlement system, governance & operation arrangement)
- Payment instruments (designation, issuing and prohibition of instruments)
- Clearing and other obligations
- Supervisory Control of state bank
- Documentation of transfers
- Notification of error and liabilities of parties
- Law relating to action before court.
- i) Contract Act, 1872
- ii) Negotiable Instrument Act, 1881
- iii) Sale of Goods Act, 1930
- iv) Companies Ordinance, 1984
- v) Arbitration Act, 1947
- vi) Competition Act, 2010
- vii) Electronic Transactions Ordinance, 2002
- viii) Consumer’s Protection Act, 2006
- ix) Electronic Fund Transfer Act, 2007
- S. No. Title Author
- 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 241
- 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
FPSC Recommended Books
| Book Title | Author |
|---|---|
| Law of Contract | Agarwala, M. Mehmood |
| Sales of Goods Act | Pollock & Mulla |
| Bare Acts: Contract Act, 1872; Negotiable Instrument Act, 1881; Sale of Goods Act, 1930; Companies Ordinance, 1984; Arbitration Act, 1940; Competition Act, 2010; Electronic Transactions Ordinance, 2002; Consumers' Protection Act, 2006; Electronic Fund Transfer Act, 2007 | Government of Pakistan |
Preparation Outline for Mercantile Law
Mercantile Law (100 marks) deals with corporate and commercial legislation, ideal for commerce and law graduates.
1. The Companies Act 2017: This forms the bulk of the syllabus. Memorize the procedures for incorporation, types of companies, and the rigorous duties of corporate directors.
2. Partnership and Negotiable Instruments: Be crystal clear on the liabilities of partners and the complex mechanics of promissory notes, bills of exchange, and cheques.
3. Application over Rote: Examiners frequently construct hypothetical business scenarios. You must apply the law logically to resolve the commercial dispute presented.
Frequently Asked Questions (FAQs)
1. How many marks does Mercantile Law carry in the CSS Exam?
Mercantile Law is a 100-mark subject in the FPSC CSS examination.
2. What are the core topics covered in Mercantile Law?
The syllabus primarily revolves around I. Law of Contract, 1872, II. Sales of Goods Act, 1930, IV. Negotiable Instrument Act, 1881 and related topics. Check the detailed syllabus breakdown above for the exact structure.
3. Is Mercantile Law a scoring subject?
Yes, Mercantile Law is generally considered highly scoring if you stick strictly to the official FPSC syllabus, practice past papers, and use strong analytical arguments rather than generic statements.
4. How long does it typically take to prepare for Mercantile Law?
For a 100-mark subject, a strategic preparation plan typically requires 2 to 3 weeks of dedicated, consistent study and note-making.
5. What are the best recommended books for Mercantile Law?
FPSC recommends referring to authentic textbooks and journals. Some key referenced authors include Agarwala, M. Mehmood and Pollock & Mulla. Avoid purely relying on local guidebooks.
6. Do I need a university degree in Mercantile Law to opt for it?
While an academic background provides a massive advantage, it is not strictly mandatory. Many candidates successfully prepare for Mercantile Law from scratch by consulting thoroughly recommended readings.
7. Are past papers important for Mercantile Law preparation?
Absolutely. Analyzing the last 5 to 7 years of CSS past papers for Mercantile Law is critical. It helps identify recurring themes, examiner traps, and high-frequency syllabus blocks.
8. How should I structure my answers in the Mercantile Law subjective paper?
To score highly, structure your subjective answers with clear introductions, relevant headings, bullet points, flowcharts (if applicable), and a balanced, critical conclusion.
9. Does Mercantile Law overlap with Compulsory CSS subjects?
Many concepts in Mercantile Law can build a strong analytical foundation for the English Essay and Current Affairs papers. Always look for cross-disciplinary linkages while studying.
10. Is coaching necessary to pass Mercantile Law?
No, professional coaching is not mandatory. With immense discipline, standard syllabus tracking, and self-evaluation via mock exams, candidates can secure excellent marks on their own.