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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:2011

SCHOOL : SCHOOL OF BUSINESS AND ECONOMICS

DEPARTMENT : BUSINESS ADMINISTRATION

TIME : 2 HOURS

INSTRUCTIONS Answer Question ONE in Section A and any Other TWO Questions in Section B

SECTION A

Question 1

a) With the aid of a hierarchy pyramid, discuss the various sources of Kenya law. (15 marks)

b) What are the different categories of law? With the use of examples explain how the categories overlap and how one type of law may fail in several categories of law.(15marks)

SECTION B

Question 2

a) A contact has been defined as an agreement between two or more parties. Explain in what sense this definition may not capture the true essence or character of a contract and give your own understanding or definition of a contract. (5marks)

b) Discuss the following concepts/statements in the context of the law of contract.

i) Consideration in a contract must be real but need not be adequate.

ii) Quasi contracts

iii) A party`s consent to a contract must be freely and genuinely given

iv) Quantum meirut as a remedy in contract

v) Discharge of contract by frustration (15marks)

Question 3

Discuss the following concepts/statements:

a) Discuss the rule for determining the existence of partnership. (6marks)

b) Discuss the duties of partners to each other. (6marks)

Question 4

a) Who is an agent of necessity? How does such an agency relationship arise?

b) Discuss the duties of an agent as owed to the principal. (15marks)

Question 5

a) What is the difference between a sale and an agreement to sell in the context of sale of goods? (4marks)

b) Common Law applied the rule of “Caveat emptor” or “buyer beware” as a general guide in contracts for the sale of goods.

c) Briefly explain the FOUR conditions and two warranties implied into contracts by the sale of Goods Act as exceptions to the rule of caveat emptor. (12marks)

Buss 212:Business Law Question Paper

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