Explain three characteristics of a public company ANSWER Characteristics of the public company Minimum a seven members but the maximum is unlimited Must have at least two directors Must obtain a certificate of trading in order to commence business. Is Read More …
Author: Admin
Explain the doctrine of independence of judiciary.
Explain the doctrine of independence of judiciary. ANSWER The phrase independence of the judiciary means that: There should be a distinct organ of government whose sole responsibility is administration of justice. This organ must be as impartial or unbiased or Read More …
Explain five advantages of arbitration as a form of settling disputes
Explain five advantages of arbitration as a form of settling disputes ANSWER Advantages of arbitration Cheap –it costs less to see a case through arbitration Flexibility –arbitral tribunals are not bound previous awards or strict rules of procedure. Speed Read More …
Custom is the oldest source of law. Explain the criteria which must be satisfied before a custom can be applicable as law
Custom is the oldest source of law. Explain the criteria which must be satisfied before a custom can be applicable as law ANSWER A custom is an embodiment of a principle of utility or justice that has commended itself. A Read More …
Explain the key distinctions between common law and equity
Explain the key distinctions between common law and equity ANSWER Common Law Equity This is a branch of the Law of England which was developed the ancient common law courts from customs, usages and practices of the English people. Read More …
Explain the difference between codification and consolidation of law and give examples of each
Explain the difference between codification and consolidation of law and give examples of each ANSWER Codification: This is the bringing together of all rules or principles of law in a particular field to constitute a single statute for example the Read More …
Briefly state the various kinds of crossing on a cheque
Briefly state the various kinds of crossing on a cheque ANSWER A crossing consists of two parallel transverse lines on the face of the cheque. It is an instruction to the banker not to pay the proceeds of the cheque Read More …
“A contract of insurance is a contract of “Uberrimae fidei (utmost good faith)”. Explain this statement
“A contract of insurance is a contract of “Uberrimae fidei (utmost good faith)”. Explain this statement ANSWER The contract of insurance is the Locus Classicus illustration of the so called contracts uberrimae fidei i.e. utmost good faith. It modifies the Read More …
What liability is imposed on the seller of goods as regards their merchantable quality and their fitness for the purpose of those goods?
What liability is imposed on the seller of goods as regards their merchantable quality and their fitness for the purpose of those goods? ANSWER As a general rule, a seller of goods is not liable if the goods or not Read More …
In relation to the Law of Succession, what are the duties of a personal representative?
In relation to the Law of Succession, what are the duties of a personal representative? ANSWER Duties of a personal representative In relation to the Law of Succession To provide and payout of the deceased’s estate reasonable funeral expenses. To Read More …