CXC Principles of Business Exam guide: Section 4: Legal Aspects of Business
|
CXC CSEC Principles of Business Exam Guide Profile 1: Organizational Principles Section 4: Legal Aspects of Business |
||
|
|
||
|
SPECIFIC OBJECTIVES The students should be able to: |
CONTENT
|
|
| 1. |
Explain the concept of contract; |
Definition and concept of a contract. |
| 2. | Describe the characteristics of a simple contract; |
Offer and acceptance, competence of parties, intention to create legal relations, consideration.
|
| 3. |
Differentiate between a simple contract and a specialty contract;
|
special contracts including mortages, sale of land and insurance |
| 4. |
Determine the validity of various contracts; |
Use of case studies to determine the validity of contracts.
|
| 5. | Distinguish between offer and invitation to treat or bargain;
|
Concepts of offer and invitation to treat. |
| 6. |
Explain the conditions under which offer and acceptance are communicated;
|
Concepts of offer and acceptance.
|
| 7. |
Outline ways by which contracts may be terminated or discharged;
|
Definitions of discharge, types of discharge methods of discharge. |
| 8. |
Explain why documentation is necessary in business transactions;
|
The importance of record-keeping in a business, including its value in satisfying requirements for taxation and auditing |
| 9. |
Prepare business documents for various purposes; |
preparation of various business documents including pro forma invoices, purchase requisitions, statements of accounts and stock cards. |
| 10. |
Interpret information on transport documents; |
Transport documents including import license, bill of lading, and airway bills.
|
| 11. |
Identify instruments of payment;
|
Instruments of payment including cheque, money order, bank draft, debit card, credit card and telegraphic money transfer. |
| 12. |
Interpret information on various instruments of payment; |
Interpretation and significance of information on instruments of payment. |
| 13. |
Explain the use of documentary credit; |
The concept of documentary credit,
|
| 14. |
Distinguish between insurance and assurance;
|
The concepts of insurance and assurance. . |
| 15. |
Evaluate the principles upon which insurance is based; |
The concept of pooling of risks. |
| 16. |
Explain the various types of insurance policies; |
Types of insurance policies: life and business insurance. |
| 17. | Explain how insurance facilitates trade. | The value of insurance coverage in lowering the risks associated with business |
WISH SOMEONE WILL GIVE ME
WISH SOMEONE WILL GIVE ME SOME ABOUT POB