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PAPER NO. 2 BUSINESS LAW GENERAL OBJECTIVE
This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply the principles of legal system and business law in various environments.
Table of Contents
LEARNING OUTCOMES
A candidate who passes this paper should be able to:
- Demonstrate knowledge of essential elements of the legal system
- Demonstrate knowledge of legal personality
- Apply law of contract and tort in various scenarios
- Apply general principles of business law in
CONTENT
- Elements of the legal system
- Nature, purpose and classification of law
- Meaning of law
- Nature of law
- Purpose of law
- Classification of law
- Law and morality
Sources of law
- The Constitution
- Legislation
- Substance of common law and doctrines of equity
- African customary law
- Islamic law
- Judicial precedent
- General rules of international law and ratified treaties
Administrative law
- Meaning of administrative law
- Functions of administrative laws
- Doctrine of separation of powers
- Principles of natural justice
- Judicial control of the Executive
The court system
- Establishment, structure, composition and jurisdiction of courts
- Supreme Court
- Court of Appeal
- High Court
- Employment and Labour Relations Court
- Magistrates Court
- Court Martial
- Kadhi’s Court
Alternative dispute resolutions
- Nature of alternative dispute resolutions (ADR)
- General principles of ADR
- Mediation
- Negotiation
- Conciliation
Law of persons
- Natural persons
- Nationality, citizenship and domicile
- Artificial person
- Unincorporated associations
- Incorporate associations
- Co-operative societies
Law of tort
- Nature of tort
- General defences of tort
- Negligence
- Vicarious liability
- Strict Liability
- Defamation
- Limitation of actions
Law of contract
- Definition of contract
- Classification of contracts
- Essentials of a valid contract
- Terms of a contract
- Vitiating factors
- Illegal contracts
- Discharge of contract
- Remedies for breach of a contract
- Limitation of actions
Sale of goods
- Nature of the contract
- Formalities of the contract
- Terms of the contract
- Implied terms statute
- Rights and duties of the parties
- Auction sales
- International contracts of sale: FAS, FOB, CIF, FCA, CPT, CIP, DAT, DAP, DDP, CFR, DAF,DDU, Ex-works and Ex-ship
Hire purchase contracts
- Nature of the hire purchase contract
- Difference between hire purchase and conditional sale/credit sale
- Formalities of the hire purchase contract
- Implied Terms of the hire purchase contract
- Rights and duties of the parties
- Termination and completion of the hire purchase contract
Agency
- Meaning and nature of the agency contract
- Types of agents
- Creation of agency
- Authority of an agent
- Rights and duties of the parties
- Termination of agency
Partnership
- Nature of partnership
- Types of partnerships
- Rights, duties and liabilities of existing, incoming and minor partners
- Management of
- Dissolution of partnerships and its consequences
Indemnity and guarantees
- Nature of the contracts
- Rights and duties of the parties
- Termination of the
- Remedies for breach of contract
Insurance
- Nature of the contract
- Formalities of the contract
- Principles of insurance
- Types of insurance
- Termination of the contract
Negotiable instruments
- Nature and characteristics
- Negotiability of the instrument
- Types: cheques, promissory notes, bills of exchange
- obligations of the parties
The law of property
- Definition of property
- Classification of property (real and personal, movable and immovable, tangible and intangible)
- Property in land: private, public and community land
- Interests in land: estates, servitudes and encumbrances
- Intellectual property: plant breeder’s patents, trademarks, copyrights and industrial designs
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