DIRECTORATE OF DISTANCE EDUCATION

INTEGRAL UNIVERSITY, LUCKNOW

Subject Name: Mercantile Law

Subject Code: B.COM- 102 Paper Code: ML/B

(W.e.f. JULY 2018 Session)

UNIT Chapter Name

C Unit - 1 ESSENTIALS OF A CONTRACT

O Unit – 2 OFFER AND ACCEPTANCE

N
Unit – 3 CAPACITY OF PARTIES

Unit – 4 FREE CONSENT

T Unit – 5 VOID AGREEMENTS AND CONTINGENT CONTRACTS
E Unit – 6 PERFORMANCE & DISCHARGE

N Unit – 7
REMEDIES FOR BREACH AND QUASI CONTRACTS

T Unit – 8
CONSIDERATION AND LEGALITY OF OBJECT

S Unit – 9 BAILMENT AND PLEDGE

Unit – 10 CARRIAGE OF GOODS

Subject Name: Mercantile Law

Subject Code: B.COM- 102 Paper Code: ML/B

UNIT-1 ESSENTIALS OF A CONTRACT
 Objectives
 Introduction
 What is Law?
 Meaning and Sources of Mercantile Law
 The Law of Contract
 What is a Contract?
 Agreement
 Legal Obligation
 Difference between an Agreement and a Contract
 Classification of Contracts
 On the Basis of Creation
 On the Basis of Execution
 On the Basis of Enforceability
 Essentials of a Valid Contract
UNIT-2 OFFER ACCEPTANCE
 Introduction
 Offer
 What is an Offer?
 How is an Offer Made?
 To Whom an Offer is Made?
 Legal Rules for a Valid Offer
 Cross Offers
 Standing Offers
 Acceptance
 What is an Acceptance?
 Who can accept?
 How is an Acceptance Made?
 Legal Rules for a Valid Acceptance
 Communication of Offer and Acceptance
 Communication of Offer
 Communication of Acceptance
 Contracts over Telephone
 Revocation of Offer and Acceptance
Subject Name: Mercantile Law

Subject Code: B.COM- 102 Paper Code: ML/B

  Revocation of Offer
 Revocation of Acceptance
 Communication of Revocation
 Lapse of an Offer
UNIT-3 CAPACITY OF PARTIES
 Introduction
 Who is Competent to Contract?
 Position of a Minor
 Who is a Minor?
 Position of Agreements kj a Minor
 Agreements by Persons of Unsound Mind
 Who is a Person of Unsound Mind?
 Burden of Proof
 Position of Agreements with Persons of Unsound Mind
UNIT-4 FREE CONSENT
 Introduction
 Meaning of Consent
 Concept of Free Consent
 Coercion
 Effect of Coercion
 Burden of Proof
 What is Undue Influence?
 Effect of Undue Influence
 Burden of Proof
 Distinction between Coercion and Undue Influence
 What is Fraud?
 Essentials of Misrepresentation
 Mistake
UNIT-5 VOID AGREEMENTS AND CONTINGENT CONTRACTS
 Introduction
 Void Agreements
 Agreements in Restraint of Marriage
 Agreements in Restraint of Trade
 Agreements in Restraint of Legal Proceedings
 Uncertain Agreements
Subject Name: Mercantile Law

Subject Code: B.COM- 102 Paper Code: ML/B

  Wagering Agreements
 Agreements to do Impossible Acts
 Restitution
 Contingent Contracts
 What is a Contingent Contract?
 Rules Regarding Enforcement of Contingent Contracts
UNIT-6 PERFORMANCE & DISCHARGE
 Introduction
 Meaning of Performance
 Types of Performance
 Kinds of Tender
 Essentials of a Valid Tender
 Effect of Refusal to Perform Promise Wholly
 Who Can Demand Performance?
 Who Must Perform?
 Time and Place for Performance
 Time as the Essence of the Contract
 Performance of Reciprocal Promises
 Types of Reciprocal Promises
 Rules for the Performance of Reciprocal Promises
 Order of Performance of Reciprocal Promises
 Effects of Preventing the Performance of Reciprocal Promise
 Assignment of Contracts
 Appropriation of Payment
 Modes of Discharge of a Contract
 Discharge by Performance
 Discharge by Mutual Agreement
 Discharge by Lapse of Time
 Discharge by Operation of Law
UNIT-7 REMEDIES FOR BREACH AND QUASI CONTRACTS
 Introduction
 Meaning of Breach of Contract
 Anticipatory Breach of Contract
 Actual Breach of Contract
 Remedies for Breach of Contract
Subject Name: Mercantile Law

Subject Code: B.COM- 102 Paper Code: ML/B

  Rescission of the Contract
 Suit for Damages
 Suit for Specific Performance
 Suit for Injunction
 Suit Upon Quantum Meruit
 Quasi Contracts
 Definition of Quasi Contracts
 Difference between Quasi Contract and Contracts
 Types of Quasi Contracts
 Quantum Meruit
UNIT-8 CONSIDERATION AND LEAGALITY OF OBJECT
 Introduction
 What is Consideration?
 Legal Rules for Valid Consideration
 Stranger to a contract and Stranger to Consideration
 Adequacy of Consideration
 Legality of Agreements without Consideration
 Legality of Object and Consideration
 Agreements Opposed to Public Policy
UNIT-9 BAILMENT AND PLEDGE
 Introduction
 Meaning f Bailment
 Kinds of Bailment
 Duties of Bailor
 Duties of Bailee
 Rights of Bailor
 Rights of' Bailee
 Right& of Bailor and Bailee against Wrongdoer
 Finder of Goods
 Termination of Bailment
 Meaning of Pawn or Pledge
 Who May Pledge.
 Pledge and Bailment
 Pledge and Hypothecation
 Rights of Pawnee
Subject Name: Mercantile Law

Subject Code: B.COM- 102 Paper Code: ML/B

  Duties of Pawnee
 Rights and Duties of Pawnor
 Pledge by Non-Owners
UNIT-10 CARRIAGE OF GOODS
 Introduction
 Carriage by Land
 Classification of Carriage
 Rights of a Conitnon Carricl.
 Liabilities 01' a Common Canlei'
 Carriage by Rail
 Carriage by Sea
 Carriage by Air

Subject Name: Mercantile Law

Subject Code: B.COM- 102 Paper Code: ML/B