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Business Law B(Buss 013) Question Paper

Business Law B(Buss 013)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS

INSTRUCTIONS
Answer question one and any other two questions
Question One
Distinguish between "written law and unwritten law"
(5 marks)
Write short notes on the following
Common law and equity
(5 marks)
Common law and statute law
(5 marks)
Give a description by use of a diagram a hierarchy of the courts from the lowest to the Highest.
(10 marks)
The constitution is the supreme law of the land. Explain the statement.
(5 marks)

Question Two
Distinguish between void, voidable and valid contracts.
(12 Marks)
"A company is an artificial person in the eyes of law." Explain the above statement.
(6 Marks)
Who is a director of a company?
(2 Marks)

Question Three
Distinguish between a contract of guarantee and contract of indemnity?
(8 Marks)
Explain the nature of a hire-purchase agreement. How does a hire purchase agreement differ from
(12 Marks)
A credit
Conditional sale

Question Four
What is contract of insurance?
(4 Marks)
Explain at least 6 principles/basic rules of insurance
(12 marks)
Explain the importance of insurance in Kenyan society
(4 Marks)

Question Five
Explain the essentials of a valid contract.
(12 Marks)
Give at least four classifications of law.
(8 Marks)

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