Hbc2243:Business Law Question Paper
Hbc2243:Business Law
Course:Bachelor Of Commerce
Institution: Meru University Of Science And Technology question papers
Exam Year:2011
QUESTION ONE 30 MARKS
a. Explain five sources of laws in Kenya. (10 Marks) b. Discuss five ways in which an offer may be terminated. (10 Marks) c. Discuss various equitable remedies which may be available to an injured party who is suing for breach of contract. (10 Marks)
QUESTION TWO 20 MARKS
a. Explain five ways in which a dispute arising from international trade can be settled. (10 Marks) b. Explain five points of distinction between a contract of sale and an agreement to sell. (10 Marks)
QUESTION THREE 20 MARKS
a. All contracts are agreements but all agreements are not contracts. Explain this statement and discuss the essential elements of a valid contract. (15 Marks) b. In the event of misrepresentation, the party whose content was causes by misrepresentation has the right to rescind the contract, although in some cases, it is not possible. State giving cases under which the aggrieved party may not cancel the contract. (5 Marks)
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QUESTION FOUR 20 MARKS
a. Distinguish between the following terms as used in business law. i. Contract and agreement ii. Condition and warranty iii. Offer and acceptance iv. Agent and servant
b. Discuss the main duties of an agent. (12 Marks)
QUESTION FIVE 20 MARKS
a. State the advantages of arbitration as a form of settling disputes. (6 Marks) b. Highlight the essentials of a contract for the sale goods. (4 Marks) c. Explain the meaning of the term privity of contract and outline the eceptions to that rule (6 Marks) d. Innovative Company Ltd has developed a new drug to be used in the treatment of common cold. The director wish to register the trade marks for the new product. Outline the items which must be contained in the application form for registration in order for the trade mark to be registered. (4 Marks)
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