Day: September 21, 2020

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 …

Insurance contracts may be classified on the basis of:- 1. The event insured: The category of insurance derives its name from the event e.g.fire, burglary, marine, fidelity, motor etc. 2. The Interest Insured: The classification places contracts in 3 categories Read More …

An insurance contract may come to an end or terminate in any of the following ways:- 1. Payment of Indemnity or the sum assured in the event of total loss. In the case of 2. partial loss, reinstatement does not Read More …