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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:2013

QUESTION ONE (30 MARKS)
a) Define partnership (2 Marks) b) What are the main distinctions between partnership and a limited company under Kenya law? (8 Marks) c) With reference to a contract for the sale of goods, and in the absence of any special agreement, when does the property in the goods pass to the buyer. (6 Marks) d) Explain the requirements of hire-purchase agreements (8 Marks) e) Describe three types of insurance. (6 Marks)
QUESTION TWO (20 MARKS)
a) State and explain the basic rules of insurance. (10 Marks) b) Discuss the various way in which an insurance contract may be discharged.(10 Marks)
QUESTION THREE (20 MARKS)
a) Explain what time must the insurable interest exist in a contract of live, fire, and marine insurance. (10 Marks) b) Explain the rights and liabilities of a guarantor. (10 Marks)
QUESTION FOUR (20 MARKS)
a) Distinguish between a contract of guarantee and a contract of indemnity. (10 Marks) b) Explain how a guarantor may be discharged from his obligations under a contract of guarantee. (10 Marks)
QUESTION FIVE (20 MARKS)
a) Write short notes on the following:- (i) Auction sale (5 Marks) (ii) Insurable interest in insurance (5 Marks) (iii) Subrogation. (5 Marks) (iv) Hire-purchase agreement. (5 Marks)

Hbc2243:Business Law Question Paper

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