Question Distinguish the following: (i) Law and Morality (ii) Public and Private Law (iii) Common Law and Equity (iv) Substantive Law and Procedural Law (v) Ratio Decidendi and Obiter Dicta Solution Law and Morality Morality is the sense of Read More …
Month: September 2020
Types of endorsements that may be made on a Bill of Exchange
Blank endorsement Section 34 (1) of the Bill of Exchange Act provides that an endorsement in blank specifies no endorsee. Its effects is to convert the order bill into a bearer bill. Special endorsement A special endorsement is an endorsement Read More …
Explain the meaning and main exceptions to the rule “Nemo dat quod non habet” as stipulated in the Sale of Goods Act.
The common law rule of nemo dat quod non nabet, literally means one cannot give what he has not. It means that a seller of goods cannot give the buyer thereof a better title than he himself has in the Read More …
Discuss the various equitable remedies which may be available to an injured party who is suing for breach of contract.
Specific performance This is a court order which compels the defendant to perform its part of the contract as agreed. It compels the defendant to fulfill its promise in accordance with the contract without an option to pay damages. It Read More …
Explain the rules that govern the measure of damages in the law of contract.
Compensation: the purpose of a monetary award in the damages is to compensate the plaintiff for the loss suffered. Proof: the plaintiff must prove the loss or damage suffered. He must adduce evidence of the actual loss suffered. Causation: There Read More …
PARTNERSHIP DEED QUESTION AND ANSWER
QUESTION You have been asked to draft a partnership deed for a small retail firm of five partners. State the matters, if any, that you will omit from the partnership deed on the basis that they are implied by the Read More …
Describe the advantages of carrying on business as a partnership as opposed to a limited liability company.
Advantages of Partnership Specialization: creates room for specialization particularly the professional firms. Sharing of losses: this reduces the amount borne by a single partner. Shared management: partners participate in the decision making process and in the management of the firms Read More …
State four acts of commission that may constitute professional misconduct under the Accountants Act (Cap 531) Laws of Kenya
Under Section 28 of the Accountants Act, a member of the institute is guilty of professional misconduct if: He allows any person to practice in his name of an accountant unless such person is an holder of practicing certificate or Read More …
Explain the nature and advantages of commercial arbitration as a means of settling disputes.
Arbitration This is a dispute resolution mechanism whereby disputes are settled of court by arbitral tribunals which make arbitral awards as opposed to judgement. This mechanism is only applicable in the settlement of civil disputes. The law relating to Arbitration Read More …
Statutory Interpretations
Explain each of the following rules of Statutory Interpretation; (i) Noscitur a sociis (ii) Ejusdem generis (iii) Mischief rule Meaning Noscitur a sociis This rule is to the effect that words of doubtful meaning derive the colour and precision Read More …