QUESTION ONE
a. Distinguish between the following:
i. Common law and equity. (2mks)
ii. Delegated legislation and judicial precedent. (2mks)
iii. Executed contract and executory contract. (2mks)
iv. Void contract and voidable contract. (2mks)
v. Condition and warranty. (2mks)
b. Explain what is meant by frustration in the law of contract and examine any three circumstances in which a contract may be frustrated. (8mks)
c. Explain any four conditions under the sales of goods act. (8mks)
d. “Receiving another’s goods is conversion”. Examine two exceptions to this assertion. (4mks)
QUESTION TWO
a. Outline any six rules that must hold for an agency to be created by ratification. (9mks)
b. Examine any four differences between a sale and an agreement to sale. (8mks)
c. State any three concepts that underline the practice of the rule of law. (3mks)
QUESTION THREE
a. Explain any two circumstances under which an agency cannot be revoked. (4mks)
b. Other than by agreement, explain two other ways in which agency is terminated by acts of the parties. (6mks)
c. Outline any four differences between a partnership and a company. (6mks)
d. Outline four rights that the principal has against the agent. (4mks)
QUESTION ONE
a. Distinguish between the following:
i. Common law and equity. (2mks)
ii. Delegated legislation and judicial precedent. (2mks)
iii. Executed contract and executory contract. (2mks)
iv. Void contract and voidable contract. (2mks)
v. Condition and warranty. (2mks)
b. Explain what is meant by frustration in the law of contract and examine any three circumstances in which a contract may be frustrated. (8mks)
c. Explain any four conditions under the sales of goods act. (8mks)
d. “Receiving another’s goods is conversion”. Examine two exceptions to this assertion. (4mks)
QUESTION TWO
a. Outline any six rules that must hold for an agency to be created by ratification. (9mks)
b. Examine any four differences between a sale and an agreement to sale. (8mks)
c. State any three concepts that underline the practice of the rule of law. (3mks)
QUESTION THREE
a. Explain any two circumstances under which an agency cannot be revoked. (4mks)
b. Other than by agreement, explain two other ways in which agency is terminated by acts of the parties. (6mks)
c. Outline any four differences between a partnership and a company. (6mks)
d. Outline four rights that the principal has against the agent. (4mks)
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