- 20 Marks
BL – Nov 2024 – L1 – Q5 – Alternative Dispute Resolution, Trusts, Hire Purchase, Ethics
State advantages of ADR, elements and types of charitable trusts, ways to terminate hire purchase contracts, and explain ethics and ethical codes.
Question
a. Alternative Dispute Resolution (ADR) as a mode of resolving commercial disputes enjoys an edge over court litigation. Required: State SIX advantages of ADR.                                                                                              b. A trust is an equitable relationship for the benefits of persons or objects. Required:                                             i. State THREE essential elements or certainties of a trust.                                                                   ii. State THREE types of charitable trust.                                                                                  c. Hire purchase is a contract of possession with an option to the hirer to purchase the goods in due course. Required: State FIVE ways of terminating a hire purchase contract.                                                                               d. Ethics and ethical codes differ from legal rules. Required: Explain ethics and ethical codes.
Find Related Questions by Tags, levels, etc.