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Buss 212:Business Law 1 Question Paper

Buss 212:Business Law 1

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2015

KENYA METHODIST UNIVERSITY

END OF 1''st ''TRIMESTER 2015 (FT) EXAMINATION
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

Question One

Distinguish between law and morality. Support your answer with

relevant examples. (6marks)

Outline any FIVE types of contracts.

(6marks)

Explain the remedies that are available to the unpaid seller under the contract of sale of goods against;
The goods

The buyer.

(8marks)

Business law is designed to facilitate business transactions. Using relevant examples, explain how negotiable instruments arbitration facilitate business transactions.

(10marks)

Question Two

The law of contract is said to be the foundation of business law. Identify FIVE contractual relationships that you have studied in business law and explain the importance of the law of contract in them.

(10marks)

In relation to the sale of goods law explain FOUR circumstances when a seller may give a seller title to the buyer than he himself has in the goods.

(10marks)

Question Three
Discuss the rights, duties and liabilities of partners under the law of partnership. (20marks)

Question Four

Identify FOUR types of negotiable instruments and explain how they facilitate business transactions in Kenya.

(12marks)

Explain the importance of the following as sources of law in Kenyan

The constitution.

(5marks)

The African customary law.

(3marks)

Question Five

Law is broadly defined as a set of enforceable rules and principles intended to regulate and guide human conduct. Using relevant examples, explain FIVE key functions of law.

(10marks)

In relation to the law and insurance, list and explain FIVE important principles of insurance. Support you answers using relevant examples.

(10marks)

Buss 212:Business Law 1 Question Paper

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