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Maju Jaya Supermarket (MJ Supermarket) advertises in the newspapers that there is a vacancy for the post of manager. The advertisement stated that those who are interested can come anytime to MJ Supermarket for an interview from 11th April 2014 until 21st April 2014. Ahmad who was very interested with the post came to MJ Supermarket on 20th April 2014 and was informed by the owner that the post was already filled. Ahmad was very angry as he has already tendered his resignation to his former company.
On the day that Ahmad came to the MJ Supermarket, he saw Mr Chan, his neighbour, entering the MJ Supermarket and selected some canned food, shampoo, eggs and vegetables. He put all the items into his trolley. However, while he was still looking for other items, Mr Chan received a call from his son asking him to pick him up from the train station. Mr Chan left the items in the trolley and went out from the MJ Supermarket.
Advise Ahmad and Mr Chan whether there is any contract between them and the MJ Supermarket.
On the day that Ahmad came to the MJ Supermarket, he saw Mr Chan, his neighbour, entering the MJ Supermarket and selected some canned food, shampoo, eggs and vegetables. He put all the items into his trolley. However, while he was still looking for other items, Mr Chan received a call from his son asking him to pick him up from the train station. Mr Chan left the items in the trolley and went out from the MJ Supermarket.
Advise Ahmad and Mr Chan whether there is any contract between them and the MJ Supermarket.
Your friend, Samantha is interested to buy a brand new car which amounts to $300,000. She has not
enough money to pay for the car in cash. She seeks your advice on any possibility for her to own the
said car, and what are her rights under the agreement.
Advise Samatha on the formation of the agreement and her rights under the said agreement.
enough money to pay for the car in cash. She seeks your advice on any possibility for her to own the
said car, and what are her rights under the agreement.
Advise Samatha on the formation of the agreement and her rights under the said agreement.
“In a sale of goods contract, there are terms which exist even though they are not expressly stated in
the written contract”.
With reference to the Sales of Goods Act 1957 and the relevant case law, discuss the above
statement. Recommend any amendment that needs to be done to the Sales of Goods Act in relating
to this statement.
the written contract”.
With reference to the Sales of Goods Act 1957 and the relevant case law, discuss the above
statement. Recommend any amendment that needs to be done to the Sales of Goods Act in relating
to this statement.
Recall an important decision (for example, selecting a specific discipline as a career) that you took and describe the same in terms of the steps you followed and the factors that affected it.
MC sold boards. D was the director of sales for MC. His employment contract said he was responsible for managing the sales force, including promoting sales. Pricing decisions & overall sales strategy were the responsibility of the president.
D was approached by GB, another supplier of boards which had been asked to quote a large order. GB could not fill all the order itself and proposed that MC should submit a quote for what GB couldn't supply &, if MC were successful, it would pay over 50% of profits to GB.
D agreed to the deal with GB on behalf of MC. Next, MC quoted & supplied 2500 units. MC did not learn about D's agreement with GB until after receiving payment.
MC is reluctant to pay the 50% to GB & is considering whether there is any legal basis where could be argued that it is NOT OBLIGED to pay.
1. identify legal question & area of law involved in answering it
2. identify two principles of law that apply to D to help answer question
3. Arguments for MC & ones for GB
4. Should MC pay?
D was approached by GB, another supplier of boards which had been asked to quote a large order. GB could not fill all the order itself and proposed that MC should submit a quote for what GB couldn't supply &, if MC were successful, it would pay over 50% of profits to GB.
D agreed to the deal with GB on behalf of MC. Next, MC quoted & supplied 2500 units. MC did not learn about D's agreement with GB until after receiving payment.
MC is reluctant to pay the 50% to GB & is considering whether there is any legal basis where could be argued that it is NOT OBLIGED to pay.
1. identify legal question & area of law involved in answering it
2. identify two principles of law that apply to D to help answer question
3. Arguments for MC & ones for GB
4. Should MC pay?
Xander and Wanda were married out of community of property with inclusion of the accrual system. They had three sons, Ben, Charl and David. David was predeceased and before his death, he had been married to Zola. they had a child, Elize. David also had another child, Frank with Petro from his previous relationship.Zola had an adult child from his previous marriage. David died intestate and the value of his estate is R900 000.
Calculate how Xander's estate is going to devolve and giving reasons for your calculations
Calculate how Xander's estate is going to devolve and giving reasons for your calculations
Describe the literal approach to contractual interpretation and explain how it may cause problems. Provide an example to illustrate your point. How might other approaches overcome this difficulty? Describe and explain them in the business context.
a) Explain the following terms using a suitable illustration
i. Subscription in arrears
ii. Issued share capital
iii. Capital expenditure
b) Differentiate between non-purchased goodwill and purchased goodwill.
c) State and briefly explain any three distinguishing features between
i. A receipts and payments account
ii. An income and expenditure account
d) A limited has an authorized share capital of 200,000 shares of Kshs. 1 each out of which only 150,000 shares have been issued. Although the firm requested the shareholders to pay 80 cents per share, they were able to pay 50 cents per share.
Required:
Determine the:
i. Authorized share capital
ii. Issued share capital
iii. Called up share capital
iv. Uncalled up share capital
v. Paid up share capital
i. Subscription in arrears
ii. Issued share capital
iii. Capital expenditure
b) Differentiate between non-purchased goodwill and purchased goodwill.
c) State and briefly explain any three distinguishing features between
i. A receipts and payments account
ii. An income and expenditure account
d) A limited has an authorized share capital of 200,000 shares of Kshs. 1 each out of which only 150,000 shares have been issued. Although the firm requested the shareholders to pay 80 cents per share, they were able to pay 50 cents per share.
Required:
Determine the:
i. Authorized share capital
ii. Issued share capital
iii. Called up share capital
iv. Uncalled up share capital
v. Paid up share capital
In 2006, Sally opened a restaurant called Traders’ Place in rented premises in Ottawa’s booming financial district. She operated the restaurant as a sole proprietorship. By 2012, the business had grown and she determined that she needed experienced help to run the business. In November 2012, Sally approached Marty to see if he would become the manager of the Traders’ Place business. He agreed and the following were the terms of his agreement with Sally.
Each month, Marty was paid $1000 plus 1 percent of the total restaurant revenues for that month. Total monthly revenues, on average, were about $100 000. At the end of each complete calendar year that Marty worked, if the restaurant had made a profit for the year equal to or exceeding $200 000, Marty was entitled to receive 10 percent of the profits.
Marty was responsible for managing the restaurant, including
opening and closing the restaurant,
hiring, firing and scheduling staff, and
ordering food and paying suppliers.
Sally was responsible for the financial side of the business, including budgeting, accounting and payroll, as well as marketing. In 2013, Traders’ Place profits exceeded $200 000 and Marty was paid 10 percent of the profits in accordance with the agreement.
Are Marty and Sally carrying on business as a partnership?
Each month, Marty was paid $1000 plus 1 percent of the total restaurant revenues for that month. Total monthly revenues, on average, were about $100 000. At the end of each complete calendar year that Marty worked, if the restaurant had made a profit for the year equal to or exceeding $200 000, Marty was entitled to receive 10 percent of the profits.
Marty was responsible for managing the restaurant, including
opening and closing the restaurant,
hiring, firing and scheduling staff, and
ordering food and paying suppliers.
Sally was responsible for the financial side of the business, including budgeting, accounting and payroll, as well as marketing. In 2013, Traders’ Place profits exceeded $200 000 and Marty was paid 10 percent of the profits in accordance with the agreement.
Are Marty and Sally carrying on business as a partnership?
Njoroge’s wife obtained money from Njoroge’s account by forging his signature on cheques which she drew in her favour. When Njoroge discovered the fraud, he informed the bank. The bank refused to credit his account for the amount wrongly debited against him on the ground that the forged signature appeared quite genuine. Is the bank liable? Advise Njoroge.
