To solve this problem, we need to analyze the given statements:$\newline \bullet$Statement I: Mendel studied seven pairs of contrasting traits in pea plants and proposed the Laws of Inheritance.$\newline$ - Gregor Mendel is known for his experiments with pea plants, where he studied seven pairs of contrasting traits.$\newline$ - These experiments led to the formulation of the Laws of Inheritance, including the Law of Segregation and the Law of Independent Assortment.$\newline$ - Therefore, Statement I is correct.$\newline \bullet$Statement II: Seven characters examined by Mendel in his experiment on pea plants were seed shape and colour, flower colour, pod shape and colour, flower position and stem height.