Vividly explain the meaning of the term mortgage and also outline the remedies of a legal mortgage.

2. A bill of exchange is unconditional writing from one person to another. State five essential elements of a valid bill of exchange.
4. In relation to negotiable instruments highlight various ways in which a bill may be discharged.
6. Presentation of a bill of exchange is governed by various rules. In relation to the above statement discuss the rules that govern the presentation of a bill of exchange.
8. For a person to qualify as a holder in due course he must satisfy various condition. State the four condition that a person must satisfy in order to qualify a holder in due course.
10. With references to the law relating marine insurance explain the meaning of the term maritime perils and highlight the four matters that marine insurance policy must satisfy.
12. Beaty Oso took a fidelity medical policy with Hope insurance company limited while completing the proposal form Beatie Oso answered in affirmative a question by the insurance asking whether she was pregnant four months later Beatie Oso was admitted to the insurance company designated hospital where it was established that Beatie Oso was a man and had never been pregnant. Hope Insurance company ltd. has since refused to settle Beatie Oso medical bills and he intends to sue Hope insurance company ltd for payment. Analyze legal principals applicable in the above case and advise Beatie Oso
14. When the assured is so situated that the happening of the event which the insurance money is to become payable would as approximate cause involve the assured in determining of the right recognized by the law or in any legal liability there is an insurable interest in the happening of the event to the extend of the possible loss or liability. Discuss the six classes of the person who are deemed to have an insurable interest in the subject matter of insurance
16. One of the principles of the insurance is the principle of utmost good faith .Highlight some of the facts that need not to be disclosed by the insured or insurer.
18. Jane mburu wants to engage in the business of exporting of petrol she has purchased a ship in order to advance the business. Advise Jane mburu on the type of insurance under which she could insure the ship and the three classes of policies available under that type of insurance.

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Question Description Vividly explain the meaning of the term mortgage and also outline the remedies of a legal mortgage A bill of exchange is uncondit... View the full answer