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Buss 212:Business Law I 2Nd Trimester 2015 Question Paper

Buss 212:Business Law I 2Nd Trimester 2015

Course:Bachelor Of Business Information Technology

Institution: Kenya Methodist University question papers

Exam Year:2015

Business LaW I (BUSS 212) 2ND TRIMESTER 2015
KENYA METHODIST UNIVERSITY

END OF 2'ND 'TRIMESTER 2015 (SB) EXAMINATION

FACULTY : EDUCATION, ARTS AND SCIENCES
DEPARTMENT : EDUCATION
UNIT CODE : BUSS 212
UNIT TITLE : BUSINESS LAW 1
TIME : 2 HOURS

INSTRUCTIONS:

Answer any THREE Questions.

Question One

Under a contract for the sale of goods, the goods remain at the seller’s risk until the property in them passes to the buyer. In the absence of any special agreement, when does the property in the goods pass to the buyer? Give practical examples.
(10 marks)
Explain the nature of the hire-purchase agreement. How does a hire purchase agreement differ from
A credit
A conditional sale agreement
(10 marks)
Question Two

Define a contract, and state the essential elements of a valid contract.
(10 marks)
On Monday Ann received a written offer from John for the sale of John’s house for Ksh.5 million. On Tuesday Ann posted a letter of acceptance and on the same day John Posted a letter revoking his offer and announcing that he had sold the house to Tony. Ann’s letter of acceptance reached John on Friday, while John’s letter of revocation reached Ann on Wednesday. Explain the legal position in this case
(5 marks)
What are the circumstances, if any, in which a person can be bound to another although there is no contract of agreement between the parties?
Question Three

Describe the principle and subsidiary sources of the law in Kenya.
Give a brief account of the supervisory jurisdiction of the high court.
Give a description of the hierarchy of the courts in Kenya from the lowest to the highest.
Question Four

Explain and illustrate that a corporation (Public Limited Company) is a person in the eyes of the law.
Briefly explain what you understand by the term domicile and state and explain three types of domicile.
What do you understand by the term "Partnership"?
Question Five

Explain the procedures in enacting an Act of Parliament (Legislature Law)
What is the importance of legislation
Explain the nature of the doctrine of judicial precedents. To what extend are precedents absolutely binding?
C

Buss 212:Business Law I 2Nd Trimester 2015 Question Paper

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