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- Minimum of seven members but the maximum is unlimited.
- Must have at least two directors.
- Must obtain a certificate of trading in order to commence business.
- Is obliged to publish accounts.
- Shares are freely transferable.
- Must hold the statutory meeting pursuant to section 130 (1) of the Companies Act.
raphael answered the question on April 17, 2018 at 19:15
- Custom is the oldest source of law. Explain the criteria which must be satisfied before a custom can be applicable as law.(Solved)
Custom is the oldest source of law. Explain the criteria which must be satisfied before a custom can be applicable as law.
Date posted: April 17, 2018. Answers (1)
- Explain five advantages of arbitration as a form of settling disputes.(Solved)
Explain five advantages of arbitration as a form of settling disputes.
Date posted: April 17, 2018. Answers (1)
- Explain the key distinctions between common law and equity(Solved)
Explain the key distinctions between common law and equity.
Date posted: April 17, 2018. Answers (1)
- Mwangi has stolen some goods from Simiyu. The police prosecute Mwangi for theft
and Simiyu sues him for the return of the goods. (i) Explain under...(Solved)
Mwangi has stolen some goods from Simiyu. The police prosecute Mwangi for theft
and Simiyu sues him for the return of the goods. (i) Explain under what law the action by the police will be based. (ii) In this action by the police, state what Mwangi will be called. (iii) Under what law would the action brought by Simiyu be and what would Simiyu be called?
Date posted: April 17, 2018. Answers (1)
- Explain the difference between codification and consolidation of law and give examples of each.(Solved)
Explain the difference between codification and consolidation of law and give examples of each.
Date posted: April 17, 2018. Answers (1)
- Mr. Karanja signed blank cheques and left them with his wife to draw cash while he was away attending to business affairs. Mrs Karanja instructed...(Solved)
Mr. Karanja signed blank cheques and left them with his wife to draw cash while he was away attending to business affairs. Mrs Karanja instructed Hatari, a clerk in the firm of Karanja and Karanja Associates to fill in the cheques. Hatari filled in the amount leaving a gap after the words “Sh.” and wrote the amount in words from the middle of the line without using a capital letter. Hatari showed the cheques to Mrs Karanja written “Sh.50,000” and ………. fifty thousand only.” He was authorized to encash the cheque.
However before presenting the cheque for payment Hatari added figure “3” to the amount in figures and “three hundred” in the words. He encashed the chequed for Sh. 350,000. He then gave Mrs. Karanja Sh. 50,000 only. These facts have come to light after Hatari's resignation and Mr. Karanja intends to sue his bankers.
Advise the bank.
Date posted: April 17, 2018. Answers (1)
- Briefly state the various kinds of crossing on a cheque.(Solved)
Briefly state the various kinds of crossing on a cheque.
Date posted: April 17, 2018. Answers (1)
- “A contract of insurance is a contract of “Uberrimae fidei (utmost good faith)”. Explain this statement.(Solved)
“A contract of insurance is a contract of “Uberrimae fidei (utmost good faith)”. Explain
this statement.
Date posted: April 17, 2018. Answers (1)
- What liability is imposed on the seller of goods as regards their merchantable quality and
their fitness for the purpose of those goods?(Solved)
What liability is imposed on the seller of goods as regards their merchantable quality and
their fitness for the purpose of those goods?
Date posted: April 17, 2018. Answers (1)
- In relation to the Law of Succession, what are the duties of a personal representative?(Solved)
In relation to the Law of Succession, what are the duties of a personal representative?
Date posted: April 17, 2018. Answers (1)
- Due to Desmond's carelessness in allowing excessive electric current to develop in his generator, the electricity supply to the locality cut after a few hours....(Solved)
Due to Desmond's carelessness in allowing excessive electric current to develop in his generator, the electricity supply to the locality cut after a few hours. As a result, Derrick's factory was at a standstill during this period and he lost Sh. 50,000 by way of profits from lost production.
Advise Derrick in regard to his rights, if any, against Desmond.
Date posted: April 17, 2018. Answers (1)
- “An occupier of premises owes a duty of care towards persons who are lawfully on his premises. The Occupiers Liability Act does not affect the...(Solved)
“An occupier of premises owes a duty of care towards persons who are lawfully on his premises. The Occupiers Liability Act does not affect the position of trespassers.”
In relation to the above statement, what is the extent of potential liability of an occupier and to what extent can such an occupier safeguard such liability.
Date posted: April 17, 2018. Answers (1)
- Mrs. Hamilton borrowed Sh. 5 million from White Bank and offered her house at White Highlands Estate as a security. She has been unable to...(Solved)
Mrs. Hamilton borrowed Sh. 5 million from White Bank and offered her house at White Highlands Estate as a security. She has been unable to service the loan and is in arrears. The bank intends to realize the security and seeks your legal advice on what options they can take to realize the security.
Advise White bank.
Date posted: April 17, 2018. Answers (1)
- In relation to the Law of Property, state five obligations of a lessor towards a lessee in a
lease agreement.(Solved)
In relation to the Law of Property, state five obligations of a lessor towards a lessee in a
lease agreement.
Date posted: April 17, 2018. Answers (1)
- Annan agreed to paint Angela's house at an agreed price. When Annan had finished thework. Angela discovered that although most of the painting was satisfactory,...(Solved)
Annan agreed to paint Angela's house at an agreed price. When Annan had finished thework. Angela discovered that although most of the painting was satisfactory, Annan had forgotten to apply a coat of gloss paint on one of the doors. Annan fell ill and could not complete the work. Angela refused to pay Annan the contractual price, claiming that the contract had not been fully executed and that therefore he was entitled to be paid only a reasonable sum for the work he had actually undertaken. This, Annan
claimed, was much less than the contract price.
Advise Annan.
Date posted: April 17, 2018. Answers (1)
- How true is it to say that in order for a contract to be discharged by performance, the
performance must be precise and exact?(Solved)
How true is it to say that in order for a contract to be discharged by performance, the
performance must be precise and exact?
Date posted: April 17, 2018. Answers (1)
- “A corporation may be defined as a legal entity or artificial person.” Explain what is
meant by this statement.(Solved)
“A corporation may be defined as a legal entity or artificial person.” Explain what is
meant by this statement.
Date posted: April 17, 2018. Answers (1)
- Explain three characteristics of a private limited company(Solved)
Explain three characteristics of a private limited company.
Date posted: April 17, 2018. Answers (1)
- Differentiate between a Memorandum of Association and Articles of Association of a registered company and detail the contents of the Articles of Association.(Solved)
Differentiate between a Memorandum of Association and Articles of Association of a registered company and detail the contents of the Articles of Association.
Date posted: April 17, 2018. Answers (1)
- The Business Premises Rent Tribunals are established under section 11 of The Landlord and Tenant (Shops, Hotels and Catering Establishment Act (Cap 301) Laws of...(Solved)
The Business Premises Rent Tribunals are established under section 11 of The Landlord and Tenant (Shops, Hotels and Catering Establishment Act (Cap 301) Laws of Kenya.
What purpose do these tribunals serve and what are their main and important powers as stipulated under the Act?
Date posted: April 17, 2018. Answers (1)