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commercial Law Pdf Notes For Download

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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.
 

Below is the structure of what you will go through in business law if you are someone taking CPA under kasneb syllabus

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  • Sources of law

  • The court system

  • Alternative dispute resolutions

  • Law of persons

  • Law of tort

  • Agency

  • Indemnity and guarantees

  • Insurance

  • Negotiable instruments

  • The law of property

  • Emerging issues and trends

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   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

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  • 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

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  • 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

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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

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  Sale of goods

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  • 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

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  Agency

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  • 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

  • Dissolution of partnerships and its consequences

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Indemnity and guarantees

 

  • Nature of the contracts

  • Rights and duties of the parties

  • 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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