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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 3''RD ''TRIMESTER 2012 (DAY) EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSS 212
UNIT TITLE : BUSINESS LAW 1

TIME: 2 HOURS

Instructions: Answer Question ONE and any other TWO Questions.

Question One

"There are several sources of Kenyan law. Some sources of law are superior to others". With the help of a well labeled diagram explain the various sources of law in Kenya in their hierarchical order.

(10 Marks)

"The law of contract is the foundation of business law". Explain this statement noting to state the position of the law of contract in the following business relationships.

Partnerships
Agency

Hire-purchase

(10 Marks)

"Business law is designed and meant to facilitate business transactions". With very clear examples, explain how negotiable instruments and arbitration facilitate business transactions.

(10 Marks.

Question Two

With the help of appropriate examples explain the meaning of the following in relation to an agency relationship of your choice.

(10 Marks)

Contractual liability
Tortious liability
Strict liability
Criminal liability

"A party’s genuine consent is an essential element of a legally binding contract. However a contract can be affected by a number of factors. Explain at least FIVE factors that can affect consent to a contract.

(10 Marks)

Question Three

With very clear examples outline and explain FIVE differences between criminal wrongs and civil wrongs.

(10 Marks)

Explain various differences between a hire purchase agreement and a sale of goods agreements.

(10 Marks)

Question Four

Explain the reasons why tribunal courts. Which are the most important tribunals in Kenya and why?

(10 Marks)

Explain negotiable instruments and give THREE examples.

(10 Marks)

Question Five

Explain THREE grounds upon which a partnership can be dissolved by application to the court for order.

(6 Marks)

Advise your organization how to examine the issues relating to ratification of an agent’s dealings.

(14 Marks)

Buss 212:Business Law Question Paper

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