KNEC| KASNEB| KISM| Study notes and Revision materials for schools in Kenya. KNEC certificate courses, Diplomas, Higher Diplomas, KISM courses cpsp-k and aps-k, KASNEB cpa, atd, cs, cifa, ccp, dcm, cict and cict, Ksce and Kcpe
The contractual capacity of artificial persons is determined by law. In the case of statutory corporations, contractual capacity is conferred by statute. It can only enter the transactions stipulated by the statute and those that are reasonably incidental thereto. The contractual capacity of registered companies is determined by the objects clause of the memorandum. At
The High Court may set aside an arbitral award on application if it is satisfied that: • One of the parties to agreement had no capacity to contract • The arbitration agreement was not valid in law. • The award is contrary to public policy in Kenya • The arbitral tribunal was not appointed in
• Cannot withdraw or receive back his interest during the currency of the firm. • May not take part in the management of the firms business. If he does, he becomes a general partner for the duration he acted and may be held personally liable. • does not bind the firm • Cannot dissolve the
• Establishment: The Law society of Kenya is established by section 3 of the Law Society of Kenya Act Cap 18, as a body corporate by name Law Society of Kenya with perpetual succession and a common seal and capacity to sue or be sued. Membership: it consists of the following categories of members; •
• The constitution of Kenya is the supreme law of the land and prevails over all other laws. Its supremacy as a source of law is manifested in the following ways: o Validating norm: All other laws derive their validity from the constitution. o Proclaims supremacy: Section 3 of the Constitution is emphatic that it
• Writ system –this system did not recognize all possible complaints and delayed administration of justice. • Inflexibility or rigidity; the common law system of administration was too rigid by reason of the doctrine of stare decisis. • Delays: administration of justice at common law was excruciatingly slow by reason of a lengthy procedure and
• This problem is based on communication of acceptance by the offeree. As a general rule silence does not amount to acceptance. • In this case Shah‟s statement to Onyango to the effect that “I have decided to sell to you my car for $ 5,000” is an offer to which Onyango did not respond.
Types of corporations • Corporation sole: this is a legally established office distinct from the holder and can only be occupied by one person at a time after which he is succeeded by another. It is a legal person in its own right, with perpetual succession, capacity to contract sue or be sued e.g. office
This is the power of court to hear a case. If a court can entertain or hear a particular case it is said to be a court of competent Jurisdiction. Types of jurisdiction Jurisdiction can be classified in various ways: • Original jurisdiction: this is the power of a court to hear a case of
(i) • Under the provisions of the Partnership Act a partner can only be expelled from the firm if the power to do so is expressly vested upon the others. • In addition a partner can only be expelled in good faith. (ii) • He does not become a partner in the firm • He