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Business Law 1 Question Paper

Business Law 1 

Course:Bachelor Of Commerce

Institution: Egerton University question papers

Exam Year:2003



QUESTION 1.
Peter and John were discussing about a house in Naka estate in Nakuru. The house is owned by Peter.At the end of discussion Peter said to John,"i will sell to you my house at Naka if you pay the sum of K sh. 7.2 million for it." What five rules relate to the response Peter is to give to John?
QUESTION 2.
In the law of contract,consent may be interfered with by one or two factors.Exhaustively analyze any three.
QUESTION 3.
Discuss any four advantages and disadvantages of Stare Decisis.
QUESTION 4.
Other than by way of frustration,discuss the ways of lawfully terminating a contract.
QUESTION 5.
The remedy of specific performance is very appropriate in instances where damages are not opt.Discuss these two remedies and the specific requirements for each to be applicable.
QUESTION 6.
In December 1815,the then India British African Company (IBAC) entered into contract with Germany Inc.to deliver a consignment of spices and groundnuts from India. Soon after the signing of the contract,the Suez Canal was closed for over ten months. IBAC refused to perform the contract,claiming frustration of the contract.
(i)Decide this case which has been brought to you.
(ii)Discuss in detail five ways of frustration of a contract.




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