Business Law 2 Question Paper

Business Law 2

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2011

KENYATTA UNIVERSITY
UNIVERSITY EXAMINATIONS 2010/2011
INSTITUTE OF OPEN LEARNING (IOL)
EXAMINATION FOR THE DEGREE OF BACHELOR OF COMMERCE
BBA 302:
BUSINESS LAW II

DATE: Friday, 4th February, 2011

TIME: 2.00 p.m. – 4.00 p.m.
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INSTRUCTIONS:
Answer question ONE and any other TWO.
1.
a)
Distinguish between companies and partnerships while pointing out advantages of each medium of business. (20 marks)
b)
Ali insured his motor vehicle comprehensively with Bidii Insurance Company for 500,000/=. He also insured it with Cali Cali Insurance Company for 500,000/=. An independent valuer values the car for 300,000/= On 14th February last year, the vehicle was involved in a road accident and was seriously damaged. Police reports indicate that Daudi the owner of the other car was indeed to blame since, it’s emerged that the contract for the purchase of the vehicle between Ali and the previous owner Joel was in fact defective. Advise the Ali on any possible claims. (10 marks)

2.
Agency may be defined on the basis of power – liability relationship between
principal and agent. This analysis focuses on the agent’s power to alter the
principals legal relations with 3rd parties. Critically examine this statement.

3.
a)
Define the term goods while setting out the difference between Sale and Agreement to sell.
(10 marks)
b)
Discuss rules relating to transfer of property in the contracts of sale of goods. (10 marks)

4.
a)
‘Negotiability does not necessarily mean transferability of negotiable instruments. Discuss.
(15 marks)
b)
Differentiate a promissory note from a cheque (5 marks)

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