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KNEC Diploma in Sales and Marketing notes

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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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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 …

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 …