CXC Principles of Business Exam guide: Section 4: Legal Aspects of Business



CXC CSEC 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

 


3.72414
Average: 3.7 (29 votes)
Your rating: None
guest's picture
guest (not verified)
WISH SOMEONE WILL GIVE ME

WISH SOMEONE WILL GIVE ME SOME ABOUT POB

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.