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Business Law I (Buss 212) (Buss 013) Question Paper

Business Law I (Buss 212) (Buss 013)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS

Instructions:
Answer question one and two others. Question one is compulsory and attracts 30 marks. Other attract 20 marks.
Question One
Define the meaning of business law.
(5mks)
Describe the various classification of law.
(5mks)
Differentiate between criminal and civil wrongs.
(5mks)
Describe the meaning of "Negotiable instructions in law.
(5mks)
Explain persinnt issues involves in the law of agency.
(5mks)
Differentiate between sale and lease.
(5mks)

Question Two
"If you contract to sell peas you cannot oblige a party to take beans. If the description of the article tendered is different in any respect, it is not the article bargained for and the other party is not could to take it" discuss this statement in relation to the rule of caveat emptor rating to capture its various exceptions.
(10mks)
Explain the importance of the law of contract in the formation of a partnership relationship noting to capture the consequences of the partner’s failure to have an express agreement.

Question Three
"Agency relationship is purely a creative of the law of contract." Do you agree to give your detailed reasons noting to use appropriate illustrations.
(10mks)
Explain five fundamental characteristics of negotiate instruments.
(10mks)

Question Four
Courtrooms are not the only places where legal disputes are resolved. Identify another method of dispute resolution and give its advantages and disadvantages.
(10mks)
Using appropriate examples explain five distinct differences between law and morality.
(10mks)

Question Five
Explain the doctrine of binding precedent in law as a source of law in Kenya paying particular regard to the hierarchy of the courts.
(10mks)
The law of contract provides three main avenues of redress for breach of contract. Identify tow of those avenues and explain the various remedies that can be achieved through them.
(10mks)

Business Law I (Buss 212) (Buss 013) Question Paper

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