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Business Law I B(Buss 212) Question Paper

Business Law I B(Buss 212)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS

Instructions:
Answer question one and any other two questions.

Question One
The law of contract is always considered the law of duties (obligations). In light of the above statement, discuss the essential elements for a valid contract. Support your answer with case law.
(10mks)
Mr. Ratego has first received a bill of exchange endorsed to him by one Patel for delivering goods worth 400,000/=. Mr. Ratego overheard someone saying that this action made him (Ratego) a holder in due course. He is frightened and seeks your advice on what this is all about. Advice him accordingly. You may use a diagram to illustrate this.
(15mks)
Discuss how the law agency by estoppels is created.
(5mks)

Question Two
With the help of a well labeled diagram outline the structure of the judicial system of Kenya.
(10mks)
Mr. Haraka was PS.V. Driver who drove too fast causing an accident in which a passenger James had a punctured arm.
Required
Discuss the legal liabilities of Mr. Haraka towards his passengers and particularly towards Mr. James. (10mks)

Question Three
There is a serious dispute between Mrs. Atenyi (seller) and Mr. Sharad Rao (a buyer) one whether the sale of a tractor was a credit sale or a hire purchase sale. They have approached you to resolve this dispute. Discus the essential information things in the transaction that world enable you to resolve this dispute appropriately. (20mks)

Question Four
Describe the duties of a principal to the agent under the law of agency.
(10mks)
Explain five essential characteristics of a negotiable instruments. (10mks)

Question Five
Explain the judicial system in Kenya. Note to capture the system in its hierarchical order and why it is considered as a source of law.
(10mks)
Law is the source of all chaos in the world" do you agree? Give at least five advantages or disadvantages of law in support of your chosen stand.
(10mks)

Business Law I B(Buss 212) Question Paper

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