a) Illustrate three ways in which property may be acquired b) Give details of four types of tenancies ANSWER a) Property may be acquired in various ways some of which include: Asserting ownership over things not previously owned by anyone Open …
Category: A CPA Business Law/Commercial Law Revision Question and Answers
CPA Business Law/Commercial Law Revision Question and Answers
A will is a declaration made by a person during his lifetime, of his intention concerning disposal of his property after his death. In relation to wills: a) Explain the characteristics of a valid will b) Describe the formalities of a valid will c) Explain the ways in which a will can be revoked d) Give details of the duties of a personal representative
A will is a declaration made by a person during his lifetime, of his intention concerning disposal of his property after his death. In relation to wills: a) Explain the characteristics of a valid will b) Describe the formalities of Open …
Describe the remedies of a legal mortgage
Describe the remedies of a legal mortgage ANSWER Fore closure: this is a court order which extinguishes the borrower’s equitable right to redeem the property. The interest of the borrower in the property is vested in mortgagee. Statutory power of Open …
Discuss the ways in which a pawn can be redeemed
Discuss the ways in which a pawn can be redeemed ANSWER The pawnor is entitled to redeem the goods pawned within the stipulated time or if no time is fixed, within a reasonable time after demand for payment has been Open …
a) Define a “pledge‟ and distinguish a pledge from a mortgage b) Explain the main characteristics of a pledge
a) Define a “pledge‟ and distinguish a pledge from a mortgage b) Explain the main characteristics of a pledge ANSWER a) Distinguishing a pledge from a mortgage Pledge Mortgage This is a pawn Mortgage is the conveyance of land or Open …
Explain the exceptions to the “nemo dat” rule
Explain the exceptions to the “nemo dat” rule ANSWER Estoppel: Where the true owner holds out another person as owner and third parties rely on the representation to their detriment. Sale by factor or Mercantile agent: Such a sale passes Open …
With reference to a contract of sale of goods, explain the implied conditions on the part of the seller
With reference to a contract of sale of goods, explain the implied conditions on the part of the seller ANSWER Right to sell: under sec 14 (a) of the Act, it is implied that the seller shall have the right Open …
With reference to a contract of sale of goods, explain the implied conditions on the part of the seller
With reference to a contract of sale of goods, explain the implied conditions on the part of the seller ANSWER Right to sell: under sec 14 (a) of the Act, it is implied that the seller shall have the right Open …
On the grounds of public policy and in order to preserve and protect the cherished right of freedom of speech, certain statements which may be defamatory are protected by law. The public interest in free speech is allowed to override the private right of interest of a person whose reputation has been injured. a) Define the term “defamation” and indicate the forms which defamation can take b) Explain in detail the occasions when a statement would enjoy privilege and hence not actionable in court c) Explain the four essential aspects of the defence of fair comment in an action for defamation
On the grounds of public policy and in order to preserve and protect the cherished right of freedom of speech, certain statements which may be defamatory are protected by law. The public interest in free speech is allowed to override Open …
One of the recognized sources of law in a country are the are the Acts of Parliament. Explain the advantages of Acts of Parliament as a source of law
One of the recognized sources of law in a country are the are the Acts of Parliament. Explain the advantages of Acts of Parliament as a source of law ANSWER Democratic in nature: parliamentary law making is the most democratic Open …