In: Accounting
This is a short answer assignment. Each question carries 10 marks.
1. Explain any TWO (2) advantages of subsidiary (delegated) legislation.
2. Describe the jurisdiction of the Federal Court in Malaysia.
3. Explain any THREE (3) ways how a proposal can be revoked as provided in Contracts Act 1950.
4. In relation to Contracts Act 1950, explain what is meant by “consideration need not be adequate but must be sufficient”.
5. Explain any THREE (3) exceptions to the nemo dat rule under the Sale of Goods Act 1957.
6. Describe the application of implied warranty of quiet possession in the Sale of Goods Act 1957 using an example.
7. Explain with an example the meaning of “defect in products” in the provision of Consumer Protection Act 1999 to a consumer.
8. Explain any THREE (3) implied terms which are stated in the Hire Purchase Act 1967.
9. Elaborate with an example the application of “implied contract of service” in the provision of Employment Act 1955.
10. Discuss any THREE (3) tests which are used by the courts to determine whether a worker is an employee or independent contractor.
I have only answered the first four questions, if you want others to be answered then kindly re-post the main question with unanswered questions.
Sol. 1 Advantages of Delegated Legislation:
The government has to concern lot of problems and activities and it is not possible for the government to take care of each and every activity. Thus, the government delegate its authority and burden to the executive branch so that it can focus on more essential problems and activities.
Legislation made by parliament are only broad and detailed principles of the law but after the subsidiary legislation the law will become more technical and detailed as now the parliament has more time to focus on technical and detailed laws.
2 Jurisdiction of federal court of Malaysia is as follow:
3 A proposal can be lapsed under the following situation:
4 Consideration need not to be adequate because the inadequacy of contract will not invalidate the contract. It is not necessary that the amount of consideration should be equal to the amount given for the contract. When the consent of parties is not free then only the inadequacy of consideration will matter. The parties must get something in return but it is not necessary to be sufficient.