(a) A person may escape his liability under an apparently contract by proving that he contracted under a mistake of fact, and his mistake valid was so fundamental that it affected the root of the contract. Where a party to Open …
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(b) On Monday X, received a written offer from Y, for the sale of Y’s house for 15,000. On Tuesday X posted a letter of acceptance, and on the same day Y posted a letter revoking his offer and announcing that he had sold the huse to Z. X’s ktter of acceptance reached Y on Friday, while Y’s letter of revocation reached X on Wednesday. Explain the legal position
The general rule is that the acceptance of an offer must be received by the offeror before it is complete, but there is important exception in the case of acceptance by letter which is complete when the letter having been Open …
State how an offer may come an end
An offer may come to an end by failure of the offeree to accept within the time stipulated for acceptance by the offeror, of if no such time is stipulated, by failure to accept within a reasonable time. What is Open …
Describe an innkeeper’s lien
An innkeeper’s has a lien on all goods brought by the guest to his inn (hotel)for the price of the food and lodging, but the Hotel Proprietors Act excludes vehicles,. horses or other animals, because he (innkeeper) is no longer Open …
How may a negotiable instrument be discharged?
A negotiable instrument may be discharged in the following ways: By Payment. When payment is made at or after the maturity of the instrument to the holder by the drawee or acceptor, all parties to the instrument are discharged. By Open …
money paid under an illegal contracts generally irrecoverable,but this is subject to a number of exceptions. Discuss
The effect of illegality is that the contract is rendered void, no action can be brought on it, and any money paid or goods transferred cannot be recovered. However, the rule is subject to the following exceptions: Where both the Open …
Enumerate the five methods of creating agency
Agency may be created by: Express Appointment. This type of agency will arise by express appointment of an agent, he may be appointed verbally even if he is employed to make a contract on behalf of his principal which must Open …
Business Law/Commercial Law: Summary notes
Business Law| Commercial Law| Introduction to Law notes Suitable for those studying Professional courses, Certificates, Diplomas, and Business Degrees Topics covered Business Law| Commercial Law Revision Questions and Answers 1 . THE NATURE AND SOURCES OF LAW – Click here Open …
Distinguish between incorporated and unincorporated associations.
Apart from human beings, the law also accords legal personality to certain offices and groups of persons known as incorporated associations or most commonly known as corporations. A corporation is an artificial legal person created by law, and once it Open …
State the composition and functions of the High Court of Kenya
The High Court of Kenya is established by section 60 (1) of the Constitution. This court is headed by the Chief Justice assisted by not less than nineteen puisne judges. The Chief Justice is appointed by the President of Republic Open …