Day: February 23, 2021

Accounting is often called the language of business because the purpose of accounting is to communicate or report the results of business operations and its various aspects to various users of accounting information. In fact, today, accounting statements or reports Read More …

Accounting has rightly been termed as the language of the business. The basic function of a language is to serve as a means of communication Accounting also serves this function. It communicates the results of business operations to various parties Read More …

(a) With the help of the decided cases, discuss various ways in which an agency may be created. (12 marks) (b) Juma had sent 10 tons of mangoes from Meru through Meru Transporters Ltd to a buyer  in Nairobi. It Read More …

Express Appointment An agent may be expressly appointed by words, spoken or written. In general no formality such as writing is required. The appointment may be made orally, or in writing. Even where an agent is appointed orally he can Read More …

Damages Whenever there is a breach of contract by one party, the other is entitled to claim damages provided the damage is caused by the breach and not too remote. If, in fact, the innocent party has suffered no loss Read More …

A contract is discharged by performance when the parties have performed their obligations under the contract in accordance with its terms. In other words, performance must exactly match what the parties agreed to do. Any deviation from performance of exact Read More …