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Buss 013:Business Law Question Paper

Buss 013:Business Law

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2012

KENYA METHODIST UNIVERSITY

END OF 1''st ''TRIMESTER 2012 EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSS 013
UNIT TITLE : BUSINESS LAW

TIME: 2 HOURS

INSTRUCTIONS

Answer question one and any other two questions.

Question One

Define the term "law" and explain the main features of law.

(10 marks)

Write short notes on the following terms as used in business law.

Ratio decidendi.

(3 Marks)

Obiter dicta.

(3 Marks)

Stare decisis.

(3 Marks)

Legal systems.

(1 Mark)

Explain at least five maxims of equity as an unwritten source of law.

(10 Marks)

Question Two

Differentiate between a crime and a civil wrong giving example of cases that involve both a crime and a civil wrong.

(10 Marks)

It has been argued that subsidiary legislation is one of the sources of law in Kenya. What conditions must subsidiary legislation meet before it can be properly applied as law?

(10 Marks)

Question Three

Mr. Karani’s son gave to his bank several promissory notes upon which he had forged the endorsements of his father. The bank threatened that unless some agreement was reached it would have the son prosecuted. Fearing for the safety of his son, the father agreed to execute a mortgage in favor of the bank.

Required: argue out the above case and clearly explain the state of the
mortgage agreement between the bank and Mr. Karani. (10 Marks)

Explain the term legal relations and give at least three situations whereby one may enter into an agreement without any intention to create legal relations.

(10 Marks)

Question Four

Distinguish between a tort, a crime and a breach of contract.

(10 Marks)

Explain the general defenses that are available to a defendant in every action for a tort where they are appropriate.

(10 Marks)

Question Five

Explain at least four characteristics of negotiable instruments.

(8 marks)

Highlight the requirements that a bill of exchange must comply with in order to be valid.

(7 Marks)

State at least five instruments that have been recognized as negotiable instruments.

(5 Marks)

Buss 013:Business Law Question Paper

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