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Business Law I (Buss 212) Question Paper

Business Law I (Buss 212)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS

Instructions:
Question One
One of the factors involved in the formation of a contract is a "consideration." Discuss the various types of considerations.
(6 marks)
Explain the various types of agents based on the nature of their work performed by them.
(10 marks)
Discuss the main points of distinction between a "sale" and an "Agreement to sell."
(10 marks)
Explain any four types of bills of exchange.
(4 marks)

Question Two
The "nemo dat equal non habet" rule provides that if a person does not have the title to the goods they cannot pass good title. There are, however, a number of exceptions to this rule with appropriate examples list and explain five such exceptions.
(10 marks)
Compare and contrast sale transaction and a hire-purchase transaction.
(10 marks)

Question Three
List and explain the fundamental differences between the two types of partnerships we have in Kenya today.
(10 marks)
In order to maximize their profit business organizations choose to settle their disputes through arbitration rather than the current system. Using appropriate examples explain at least five reasons why this is so.

(10 marks)
Question Four
Having successfully completed your course work in business law one you are now in agreement with your lecturer that law is involved in all aspects of business. You further agree that knowledge of law is a business asset that can assist business owners and managers in reaching their goals and objectives. With appropriate examples explain at least five reasons why you are in agreement with your lecturer. (20 marks)

Question Five
Write short notes on the following
Privity of contract.
(4 marks)
Conditions and warranties.
(4 marks)
Dissolution of partnerships.
(4 marks)
Law and morality.
(4 marks)

Business Law I (Buss 212) Question Paper

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