Nature of Business Finance Meaning of business finance Nature and scope Importance of business finance Relationship with other disciplines BUSINESS FINANCE NOTES TOPIC NATURE OF BUSINESS FINANCE Definition These are activities which have to do with the provision and management Open …
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Outline the ways in which a contract may be discharged. Illustrate each mode of discharge by decided cases or examples.
A contract may be discharged in the following way: By Performance. If both parties to the contract perform their obligations the contract is discharged. If only one party performs his obligation then he is discharged from any further obligations and Open …
A enters into a contract with B for buying B’s motor car as agent of C with- , out C’s authority B repudiates the contract before C comes to know of it. C subsequently ratifies the contract and sues to enforce it. Is there a binding contract?
Ratification is retrospective, that is, the agency is taken to have come into effect from the moment the agent first acted, and not from the date of the principal’s ratification. This rule was illustrated by the decision in Bolton Partners Open …
What is meant by agency by ratification? State the conditions that must be fulfilled before that doctrine can apply to an act of agent.
Agency by ratification arises where the principal subsequently confirms and adopts a contract entered into on his behalf by a person who, at the time of the Contract, had no authority to act for the principal or who had exceeded Open …
H’s wife over a period of some months obtained money from H’s bank by forging his signature on cheques which she drew in favor of herself When H discovered the fraud he informed the bank The bank refused to credit his account for the amount wrongly debited against him on the ground that the forged signature appeared quite genuine. Discuss bank ‘s liability.
It is the duty of the banker to be acquainted with the customer’s handwriting and the banker must suffer if payment is made of a cheque on which the customer’s signature is forged. A forged cheque is called a nullity. Open …
Business Law| Commercial Law Revision Questions and Answers
Business Law| Commercial Law| Introduction to Law Revision Questions and Answers Suitable for those studying and Revising for Professional courses, Certificates, Diplomas, and Business Degrees Topics covered The Nature and Sources Of Law – Click here to view these Revision Open …
Is there a contract in the following cases? Give detailed reasons
1 Alan by a letter offers to sell his car to Brown for £1,000. Upon receipt of for your answers. Alan’s letter Brown posts a letter accepting the offer but the letter of acceptance is never received by Alan and Open …
In what circumstances does a tort differ from a contract and from a crime? Give an instance of a transaction which is at the same time a tort, a crime, and a breach of contract.
conditions themselves by their agreement. In tort, on the other hand, duties are fixed by law. The distinction between tort and contract lies in the nature of the duty that is infringed. In tort the duty is one imposed by Open …
The structure of Kenyan Courts: Summary notes
Kenyan Court Structure The structure of Kenyan Courts Structure of the Courts The courts have power to hear and determine disputes, primarily of criminal and civil nature. Criminal cases are those in which the State prosecutes a person or an Open …
What is tort? Is privity necessary to support an action in tort?
A tort is a civil wrong independent of contract for which the remedy is an 98 action for unliquidated damages. According to Professor Winfield tortious liability arises from a duty primarily fixed by law; this duty is towards persons generally Open …