What are the duties of a principal towards the agent? ANSWER Obligations of the Principal to the agent include: Remuneration: the principal is obliged to remunerate the agent for services rendered. This obligations may be express or implied. The agent Open …
Category: A CPA Business Law/Commercial Law Revision Question and Answers
CPA Business Law/Commercial Law Revision Question and Answers
Ratification where the principal adopts an unauthorized act of his agent as his own. What are the conditions which must be fulfilled for ratification to be effective?
Ratification where the principal adopts an unauthorized act of his agent as his own. What are the conditions which must be fulfilled for ratification to be effective? ANSWER Requirements or conditions for ratification The agent must have purported to act Open …
Distinguish a special agent from a general agent
Distinguish a special agent from a general agent ANSWER General agent: This is an agent who has authority to do a particular act or engage in a transaction in the ordinary course of his business trade, profession or occupation as Open …
With reference to the Occupiers Liability Act i) Define an occupier ii) Explain its main provisions in relation to liability of a person visiting a premises iii) Outline the general defences available to the occupier against liability to a trespasser
With reference to the Occupiers Liability Act i) Define an occupier ii) Explain its main provisions in relation to liability of a person visiting a premises iii) Outline the general defences available to the occupier against liability to a trespasser Open …
Define the mutual will and list the requirements which must be met to make its doctrine operate
Define the mutual will and list the requirements which must be met to make its doctrine operate ANSWER A mutual will is an arrangement between two people usually a husband and wife to execute mutual wills making provision for each Open …
Section 31 of the law of succession Act provides that a gift made in contemplation of death shall be valid despite there being no transfer. Explain the conditions which have to be fulfilled before such gifts can be valid
Section 31 of the law of succession Act provides that a gift made in contemplation of death shall be valid despite there being no transfer. Explain the conditions which have to be fulfilled before such gifts can be valid ANSWER Open …
In relation of the law of succession, explain the following: (i) Doctrine of survivorship (ii) Administrator cum testamento annexo (iii) Administrator pendente lite
In relation of the law of succession, explain the following: (i) Doctrine of survivorship (ii) Administrator cum testamento annexo (iii) Administrator pendente lite ANSWER (i) Doctrine of survivorship This doctrine is to the effect that where two or more persons Open …
Define the term “domicile” and citing examples, explain three types of domicile
Define the term “domicile” and citing examples, explain three types of domicile ANSWER Domicil: This is the country of permanent residence. It is the country in which a person has or is deemed by law to have a permanent home. Open …
In relation to law of property: Discuss the ways in which a person can lose ownership
In relation to law of property: Discuss the ways in which a person can lose ownership ANSWER Loss of ownership By a voluntary act e.g. transfer Retransfer Operation of law, e.g. death or bankruptcy Displacement by new owner (adverse possession). Open …
In relation to law of property: Distinguish choses in action from choses in possession giving examples of each
In relation to law of property: Distinguish choses in action from choses in possession giving examples of each. ANSWER Chose in action These are intangible rights which can only be enforced by court action. They are not capable of physical Open …