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IGNOU ECO-5 QUESTION PAPER
Note: Attempt any five questions.
NOW YOU GET THIS QUESTION PAPER COMPLETE ANSWER 
Q1. Define Consideration. Explain the circumstances when consideration is not necessary.
Q2. Point out differences between:
(a) Void and illegal contracts
(b) Express and implied contracts
Q3. Define “Fraud” according to Indian contract Act 1872. What is its effect on the validity of a contract? How does it differ from misrepresentation?
Q4. What are the various modes of discharge of a contract? Explain them briefly.
Q5. Distinguish between a “SALE” and “AN AGREEMENT TO SELL”.
Q6. Define partnership. State the circumstances under which partnership firm can be dissolved.
Q7. Define bailment. How does it differ from a pledge? Is finder of goods a bailee? What are the duties of a “finder of goods”?
Q8. Discuss the rights of an agent.
NOW YOU GET THIS QUESTION PAPER COMPLETE ANSWER
Q9. Answer the following problems. Give reasons for your answer.
(a) A makes an offer to sell his house to B. A dies. B accepts the offer and does not know about the death of A. Is acceptance valid? Can B, sue legal representatives of A?
(b) A, purporting to act as an agent of B, but without authority of B. A accepted an offer made by C. C subsequently withdraws the offer, but B ratified A’s acceptance. Is C bound by contract?