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KNEC Diploma in Sales and Marketing notes
Module I notes Principles and Practice of Selling Principles and Practice of Marketing Economics Entrepreneurship Education Business Communication Life skills Information and Information Technology Module II notes Sales Management Legal Aspects in Sales and Marketing Principles And Practice of Management Open …
KNEC Diploma in Sales and Marketing notes
Globalisation and Management
Introduction The term globalization derives from the word globalize, which refers to the emergence of an international network of economic systems Agenor, (2004). Cowan (2002) noted that Globalization id been used in its economic sense as early as 1981 and Open …
KNEC Business Finance notes
TOPICS COVERED IN KNEC BUSINESS FINANCE SUBJECT TOPIC 1: FORMS OF BUSINESS ORGANIZATION Sole proprietorship Partnership Cooperatives Companies TOPIC 2: NATURE OF BUSINESS FINANCE Importance Relationship with other disciplines TOPIC 3: SHORT TERM BUSINESS FINANCE Different sources of short-term finance Open …
KNEC Business Finance notes
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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 …