Departments › Cooperative Management › Module III › Principles Of Commercial Law

Principles Of Commercial Law

Cooperative Management · Level 5  ·  10 Chapters

Compiled by: Mary Jemutai

Can I download Principles Of Commercial Law notes as a PDF?

Yes. The notes download as a PDF too: every chapter has a Download PDF button above its notes. Sign in and click it. Each download comes from your plan's monthly allowance or from credits. To read before you sign in, the first topic of every chapter opens to anyone, and a Profplanet plan opens the remaining topics.

▣

What Principles Of Commercial Law covers

Principles Of Commercial Law in Cooperative Management Level 5 explains the legal rules behind a society's dealings. The unit opens with the nature, purpose and sources of law and a comparison of law and morality. It describes the Kenyan court structure, the jurisdiction of courts, tribunals and the roles of legal institutions. Tort, contract, agency, the sale of goods, hire purchase, negotiable instruments, insurance and property are each treated as an area of law, with defences, remedies, duties and rights set out in turn. Learners apply these rules to the situations a cooperative faces when buying, selling, lending and holding assets.

■

Careers after Principles Of Commercial Law

A cooperative officer who knows commercial law can spot a weak contract before it costs the society money. This unit covers the legal system, tort, contract, agency, sale of goods, hire purchase, negotiable instruments, insurance and property. The unit moves from the legal system to the specific rules that govern everyday business.

  • Procurement offices of cooperative societies in Machakos - you draw on contract and sale of goods law when you agree terms with suppliers.
  • Loan sections of savings and credit societies in Nyeri - you apply hire purchase and negotiable instruments rules when financing assets and accepting cheques.
  • Insurance agencies in Kisumu - you explain insurance contracts, principles of insurance and the formation of a policy to clients.
  • Legal and secretarial sections of cooperative unions in Nakuru - you advise on agency, capacity to sue and property interests.
  • Land and property sections of cooperative housing societies in Kitale - you classify property, explain land interests and note intellectual property rights.

The courts topics also help you know where a dispute ends up.

Chapters

1
Demonstrate understanding of nature of law
16 topics
Open chapter →
2
Illustrate structure of court system in Kenya
18 topics
Open chapter →
3
Apply law of Tort
10 topics
Open chapter →
4
Apply law of Contract
24 topics
Open chapter →
5
Apply law of Agency
22 topics
Open chapter →
6
Apply law of Sale of Good
13 topics
Open chapter →
7
Apply hire purchase contracts
4 topics
Open chapter →
8
Apply law of negotiable instruments
6 topics
Open chapter →
9
Apply law of insurance
14 topics
Open chapter →
10
Apply law of property
12 topics
Open chapter →
What Principles Of Commercial Law covers: 51 main topics in 10 chapters

1. Demonstrate understanding of nature of law

  1. 1.1 Nature of law
  2. 1.2 Purpose of law
  3. 1.3 Sources of law
  4. 1.4 Classifications of Commercial Law
  5. 1.5 Comparison between Law and Morality

2. Illustrate structure of court system in Kenya

  1. 2.1 Court structure in Kenya
  2. 2.2 Composition of Kenyan courts
  3. 2.3 Jurisdiction of Courts
  4. 2.4 Procedure of appointment and removal of magistrates and judges
  5. 2.5 Tribunals
  6. 2.6 The role of the JSC, AG, LSK, and ODPP in the Kenyan legal system

3. Apply law of Tort

  1. 3.1 Nature of tortuous liability
  2. 3.2 Tort, crime vs breach of contract
  3. 3.3 Capacity to sue /be sued by the law of tort
  4. 3.4 Types of tort
  5. 3.5 General defences in tort
  6. 3.6 Elements of tort

4. Apply law of Contract

  1. 4.1 Essential of a valid contract
  2. 4.2 Types of Contracts
  3. 4.3 Methods of discharging a contract
  4. 4.4 Remedies of breach of a contract
  5. 4.5 Terms of contract

5. Apply law of Agency

  1. 5.1 Formation and classification of agents
  2. 5.2 Agents' authority
  3. 5.3 Duties of agents
  4. 5.4 Rights of Agents
  5. 5.5 Methods of terminating an agency

6. Apply law of Sale of Good

  1. 6.1 Sale and agreement to sell
  2. 6.2 Capacity to buy and sell
  3. 6.3 Terms of Sale of Goods
  4. 6.4 Caveat emptor
  5. 6.5 Factors affecting the transfer of title
  6. 6.6 Rights of parties in the sale of goods
  7. 6.7 Auction process
  8. 6.8 Duties of the seller
  9. 6.9 Duties of the buyer

7. Apply hire purchase contracts

  1. 7.1 Nature of Hire Purchase
  2. 7.2 Hire purchase agreement
  3. 7.3 Conditions of Terminating Hire Purchase Agreement
  4. 7.4 Completion of hire purchase agreement

8. Apply law of negotiable instruments

  1. 8.1 Negotiable instruments
  2. 8.2 Characteristics of negotiable instruments
  3. 8.3 Elements of negotiable instruments

9. Apply law of insurance

  1. 9.1 Insurance contracts
  2. 9.2 Principles of insurance
  3. 9.3 Formation of insurance contract
  4. 9.4 Requirement for insurance contract
  5. 9.5 Discharge of insurance contract

10. Apply law of property

  1. 10.1 Classifications of property
  2. 10.2 Land interest
  3. 10.3 Intellectual property

Revise this unit

Exam-style questions 126 Written to CDACC standard, with answers Test yourself 365 Multiple-choice, one at a time Practise questions 272 Quick recall — check you know the facts
3 more for this unit
Oral exam preparation 97 What the assessor asks, and how to answer out loud Worked calculations 14 Step-by-step maths with the common mistakes Quick cards 1,956 Myth busters, skill tips and scenarios

Beyond the syllabus

Decision simulator 10 On site, what would you do? Workplace scenarios 182 Real site situations — what would you do? Turn this into income 96 Where this skill earns — what to charge, how to find clients

Other units in Module III