Day: September 21, 2020

Property law is concerned with the bundle of rights a person may have on land. Such rights may be exclusive or otherwise. Property law defines the range of functions a person may exercise in a given situation at a given Read More …

This is a document given by the debtor to the creditor as a security when chattels are used as collateral .The document constitutes evidence of the chattels mortgage. The debtor retains possession and ownership of the security but under the Read More …

This is a right conferred upon a party by law or trade usage or custom in certain circumstances and is exercisable as a security for the fulfilment of an obligation owned by another. Types of Lien 1. Possessory lien 2. Read More …

This is a contract whereby a party referred to as Bailor delivers goods to another known as Bailee with specific instructions that the goods be dealt with in a particular manner to be returned as soon as the purpose for Read More …

This is a contract whereby a party referred to as the guarantor or surety undertakes to be secondarily or collaterally responsible for the monies or acts of anther known as the principle debtor. The undertaking is made to the creditor. Read More …

CHEQUES Under Section 74(1) of the Bill of Exchange Act, a cheque is a bill of exchange drawn on a banker, payable on demand. It is a negotiable instrument negotiable by delivery or by endorsement and delivery. It differs from Read More …

Under Section 84 (1) of the Bill of Exchange Acts, a promissory note is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand or at a fixed or determinable Read More …

The law relating to Bills of Exchange in Kenya is contained in the Bill of Exchange Act1. This statute is a carbon copy of the English Bills of Exchange Act, (1882). It codifies the law relating to bills of exchange. Read More …

What is a negotiable instrument? This is a document which represents money and the title in passes to a bona fide transferee free from only defect. It is a chose in action. Negotiable instruments are transferable by reason of law Read More …

The Principles includes:- 1. Insurable Interest 2. Utmost good faith (Non-disclosure) 3. Indemnity 4. Subrogation 5. Salvage 6. Re-instatement 7. Contribution and Apportionment 8. Proximate Cause 9. Abandonment 10. Average Clause 11. 3rd Party Insurance 1. INSURABLE INTEREST This is Read More …