Reference no: EM132939668

QUESTIONS

1. Personal remedies are remedies against the buyer and are enforceable by court action for price and also for damages for non-acceptance. With so, the buyer is entitled to some remedies therefore list them.

2. Hire purchase is a contract by which goods are delivered to a person who agrees to make periodical payments by way of hire, with an option of buying the goods after the started hire installments have been paid. Furthermore, list the contents of hire purchase.

3. Sec 4 (1) of the Hire purchase act in Kenya establishes the Registry of Hire Purchase which as per the Act every Hire Purchase agreement must be delivered to the Registrar for registration within 30 days of its execution. State the effects of non-registration.

4. The hire purchase act attempts to protect the hirer for exploitation through the following ways; making some Contents of the agreement to be void if used, Implied terms of the agreement and Repossession of goods. Discuss the contents deemed void if inserted in the hire purchase agreement.

5. The hire purchase contract focuses mostly on some parties such as owner and hirer who play an important role in it such that they have duties and obligation which should be followed to the latter. Explain the duties of hirer.

6. Guarantee contract occurs when one person signifies to perform the contract or discharge the liability incurred to the third party, on behalf of the second party, in case he fails. According to so, state the types of guarantee.

7. The person to whom the guarantee is given is Creditor, Principal Debtor is the person on whose default the guarantee is given and the person who gives guarantee is Surety (Guarantor). Therefore, list ways of discharge of guarantor.

8. In a guarantee contract there are several parties with duties and responsibilities that should be abided by and upheld. Thus, discuss the rights of an indemnity holder acting within scope of his authority.

9. A guarantee contract is a contract when one person(guarantor) signifies that he will be held liable if the principal debtor fails to pay the creditors. According to this statement, list the rights against principal debtor.

10. A guarantee contract has played an important role in commercial law thus has so many contributory aspects. With so, list the advantages of a guarantee contract.