Dbmg 017:Business Law Question Paper
Dbmg 017:Business Law
Course:Diploma In Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2011
FACULTY : BUSINESS AND MANAGEMENT STUDIES
DEPARTMENT : BUSINESS ADMINISTRATION
TIME : 2 HOURS
INSTRUCTIONS Answer Question ONE and any Other TWO Questions
Question 1
a) Define the term ‘Law” and discuss various kinds of law (10marks)
b) “All contracts are agreements but all agreements are not contracts”. Comment on the above statement and clearly explain the essentials of a valid contract (10marks)
c) A partnership may be formed by oral or by written agreement. In the case where it is in writing, it is incorporated into the “article of partnership” or “partnership deed”. In your own opinion is there any relevance of having the formation of partnership by written agreement. (10marks)
Question 2
a) Define the term “source of law” (2marks)
b) Write short notes on the following sources of law
i) Islamic law (4marks)
ii) Judicial precedent or case law (4marks)
iii) Subordinate or delegated legislation and state the main reasons for this type of legislation process (10marks)
Question 3
a) Explain how an agency may be terminated by: (12marks)
i) Act of parties
ii) Operation of law
b) How can a contract be discharged (terminated) in Kenya law (8marks)
c) Explain four ways on how an agency may be created (10marks)
Question 4
a) Define the term “sale of good” (2marks)
b) Distinguish between sale and agreement to sale (6marks)
c) When is a sale of good deemed to be unpaid seller? Outline the seller’s rights against:
i) The goods and
ii) The buyer (10marks)
Question 5
a) Define the term “partnership” What are the main destruction between partnership and a limited company under Kenya law? (10marks)
b) What is meant by a negotiable instrument (2marks)
c) What are the main characteristics of negotiable instruments (8marks)
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