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Hbc2243:Business Law Question Paper

Hbc2243:Business Law

Course:Bachelor Of Commerce

Institution: Meru University Of Science And Technology question papers

Exam Year:2012

QUESTION ONE (30 MARKS)
(a) Mr. Stone is an accomplished businessman in Meru town and who has an estate to his name and a number of businesses. Mr. Stone has little regard for insurance policies and always considers them a way other people milk money from others. You have a chance to talk to Mr. Stone to convince him about the importance of insurance policies. Advice on two important policies which are relevant to his business. (12Marks)
(b) Who is an unpaid seller? Explain the rights of an unpaid seller against the goods. (10Marks)
(c) How does a hire purchase agreement differ from a credit sale? (8Marks)
QUESTION TWO
(a) In relation to the law governing insurance, explain five (5) basic principles of insurance. (10Marks)
(b) State and explain the implied terms of hire purchase agreement. (10Marks)
QUESTION THREE
(a) Distinguish between a contract of guarantee and a contract of indemnity. (10Marks)
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(b) State and explain five (5) ways in which a partnership can be dissolved without a court order. (10Marks)
QUESTION FOUR
(a) Explain the meaning of the doctrine of a Caveat Emptor and outline four exceptions to this doctrine. (10Marks)
(b) Explain how a guarantor may be discharged in a contract of guarantee.
(10Marks)
QUESTION FIVE
(a) State and explain the duties of both the owner and the hirer in a hire purchase agreement. (12Marks)
(b) Distinguish between a condition and a warranty. (8Marks)

Hbc2243:Business Law Question Paper

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