1. In relation to the law of insurance distinguish
2. Between a contract of insurance and a wagering contract.
3. John insured a ship against any losses while lying at Mombasa port for a sum of shillings ten million with BADC insurance company limited. He further insured the same ship with Deep sea insurance company limited for a similar amount subsequently the port caught fire and the ship was badly damaged. The estimate cost of repair of the ship is five million. John has lodged a claim for compensation. Explain the legal principles in the above case and advise John.
4. Where goods have been let under higher purchase agreement and two thirds of the higher purchase price have been paid the owner shall not enforce any right to recover possession of the goods from the hirer otherwise than by suit. Explain three consequences of contravention of the above provision by the owner.
5. In relation to the contract of the hire purchase. Outline the five provision which govern the termination of a hire purchase agreement by the hirer.
6. For a memorandum of the hirer purchase agreement to be enforceable it must contain certain information. Explain the type of such information that it must contain.
7. The hire purchase act implies some terms in every higher purchase agreement. One of these terms is merchantability .This is a condition that goods are of merchantable quality unless they are second hand. There is however some instances when this condition maybe dispensed with. Outline two of the instances when merchantability maybe dispensed with.
8. In the context of the hire purchase law explain the various effect of the non registration of hire purchase agreements.
9. Nur entered into a hire purchase contract with Ujuzi traders regarding a sewing machine The hire purchase of the sewing machine was sh.10000 Nur paid a total of sh.8000 but facing financial difficulties and is in arrear of two months .The hire purchase company has repossessed the machine Nur aggrieved .Explain the legal principal applicable in the above case.
10. An agent should not make secret profit out of his agency except his renumerations. Describe the consequences of the breach of this duty.