Insurance: Summary notes

Definition A contract of insurance is one whereby one party (called the insurer) undertakes for a consideration to inemnify another party (called the insured) upon the happening of a specified event. The consideration paid by the insured is called the Open …

Partnership: Summary notes

Definition Section 3 of the Kenya Partnership Act (cap 29) 1962 defines partnership as ‘ the relation which subsists between persons carrying on a business in common with a view of profit.’ Registered, statutory companies are not partnerships. Section 4 Open …