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Business Law 1 Question Paper

Business Law 1

Course:Bachelor Of Business Admnistration

Institution: Maseno University question papers

Exam Year:2013

MASENO UNIVERSITY

UNIVERSITY EXAMINATIONS 2012/2013

FIRST YEAR.SECOND SEMESTER EXAMINATIONS FOR THE
DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION
WITH INFORMATION TECHNOLOGY
(MAIN CAMPUS)

ABA 110/106: BUSINESS LAW 1

Date:2nd April,2013 Time;11.00am - 1.00pm

INSTRUCTIONS:
•Attempt QUESTION ONE and any other TWO questions
•Question one carries 30 marks and the rest 20 marks each
•Time: 2 marks

1.(a)How does a binding contract differ from other agreements?(10 marks)

(b)Distinguish between void,voidable and unenforceable contracts(15 marks)

(c)D goes into a self-service store,takes up a wire-basket from the stock
provided, and then fills the basket with goods from the shelves. She is
about to leave the store,when she remembers that she has forgotten to bring
money with her, so she starts to replace the goods on the shelves. The store
manager stops her, saying that she has brought those goods and must pay for
them. "Advise the parties"(5 marks)

2.(a)Explain the circumstances in which an agent's act which is initially
unauthorized may be subsequently ratified by his principal so as to
become binding.(15 marks)

(b)X offers to sell his house to Y whom he knows in the past has acted as Z's
agent in the business of selling hides and skins. Y says that he does want
a house but he is sure that Z, who knows nothing at all about this,would like
it. Y accepts X's offer. Next day X, who has got a better offer from B, writes
to Y saying the offer is revoked. The same day X receives a letter from Z saying
"Y has told me about your house. When would you like a deposit"? X writes back
saying that he no longer wishes to sell the house to Z and has told Y so. Z then
brings an action for specific performance. What are his rights?(5 marks)

3. Define the term "source of law" and describe the main sources of Kenyan law.
(20 marks)

4. Summarize the advantages and disadvantages of legislation as a source of law.
(20 marks)

5. What is a corporation? In what ways may corporation be created?(20 marks)

Business Law 1 Question Paper

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