Buss 212:Business Law Question Paper
Buss 212:Business Law
Course:Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2012
KENYA METHODIST UNIVERSITY
END OF 3''RD ''TRIMESTER 2012 (EVENING) EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSS 212
UNIT TITLE : BUSINESS LAW I
TIME: 2 HOURS
Instructions:
Answer question ONE and any other TWO.
Question One
As a general rule, an agent personally be held liable for contrasts entered on behalf of the principal.
Explain five circumstances in which an agent will be personnel to be liable.
(10mks)
Discuss five remedies available to the beggar upon breach of contract by the seller.
(10mks)
Explain five advantages of law in the society.
(10mks)
Question Two
Explain five ways in which a contractual obligation is discharged. (10mks)
Martin wants to enter into a business partnership with Adan and requires you to draw an appropriate partnership deed for him. Explain the main features of a partnership deed that you will need to capture in the deed that you will draw for Martin.
(10mks)
Question Three
With good examples, explain four ways in which an agency relationship is created.
(10mks)
Using appropriate examples explain the meaning of the rule of nemo dat and five at least three exceptions to that rule.
(10mks)
Question Four
"The general rule in a hire purchase transaction is that the owner of the goods has a right to repossess his goods in case of default" explain the concept of repossession while capturing the rights of the owner and the hire in a hire-purchase transaction.
(10mks)
List five essential elements of a contract noting to explain why they are important for the creation of a valid contractual relationship.
(10mks)
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