Description

Commercial Transactions

1. The bedrock of Commercial Transactions is contracts, agreements, and agencies.
   1. Set out the forms of contracts as enumerated in Section 34 of the Companies Act (Chapter 486, Laws of Kenya), noting to pay attention to the details as to who may enter into contracts on behalf of a company and the reasons for their validity.

(6 marks) b) In what circumstances can a company have the power to have an official seal?

• marks)

1. c) Briefly outline the nature of the Hire Purchase contract and distinguish it from a contract for Sale of Goods.

(6 marks)