Get premium membership and access revision papers, questions with answers as well as video lessons.

Buss 212:Business Law Question Paper

Buss 212:Business Law

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2012

KENYA METHODIST UNIVERSITY

END OF 2ND TRIMESTER 2012 (EVENING) EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSINESS LAW 1
UNIT TITLE : BUSS 212

TIME: 2HRS

INSTRUCTIONS: Answer Question ONE and ANY Other TWO Questions.

QUESTION ONE
a) With the help of very clear examples, explain the distinction between the
following.

Law and morality

(4marks)

Substantive law and procedural law.

(4marks)

Enacted law and delegated legislation.

(4marks)

An agreement and a contract.

(4marks)

Conditions and warranties in sale of goods.

(4marks)

A general partnership and a limited liability partnership (4marks)

Joint ownership and ownership in common.

(4marks)

b) Explain the purpose of law in a business transaction of your choice.
(2marks)

QUESTION TWO
a) "Hire-purchase is said to be on its death bed in Kenya". With very clear examples discuss FIVE reasons that have contributed to the decline in hire-purchase business in Kenya. (10marks)

b) Explain how agency relationship is created? (10marks)

QUESTION THREE
a) Discuss FIVE main functions and importance of negotiable instruments in a business transaction of your choice. (10marks)

b) What are the essentials of a valid acceptance in the law of contract?
(10marks)

QUESTION FOUR
a) "Since partnerships are creations of mutual consent they can only be dissolved by mutual consent." Do you agree? Give your reasons.
(10marks)

b) Hire purchase agreement is a very rapid and formal agreement with various essential elements. List FIVE such elements and explain why they are important. (10marks)

QUESTION FIVE
a) What is arbitration and how is it different from the court or judicial
process? (10marks)

b) What are the factors that determine the existence of a valid contractual capacity? (4marks)

c) Explain THREE important features of law. (6marks)

Buss 212:Business Law Question Paper

More Question Papers

Popular Exams