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Transform Your Business Ideas into Reality Are you ready to embark on your entrepreneurial journey or elevate your existing venture? Our comprehensive Principles of Entrepreneurship guide is designed to equip you with the essential knowledge and tools to navigate the dynamic world of business creation and management. What’s Inside: Opportunity Recognition & Evaluation: Learn how to identify and assess viable business opportunities, ensuring you invest your time and resources wisely. Business Plan Development: Master the art of crafting a detailed business plan that serves as a roadmap for your business's success and attracts potential investors. Marketing Strategies: Discover effective marketing techniques to promote your products or services and reach your target audience efficiently. Financial Management: Gain insights into budgeting, financial forecasting, and managing cash flow to maintain a profitable business. Legal and Ethical Considerations: Understand the legal requirements and ethical practices necessary to operate a legitimate and responsible business. Why Choose Our Guide? Expert Insights: Compiled by seasoned entrepreneurs and business experts, offering practical advice and real-world examples. User-Friendly Format: Organized in clear, concise sections for easy navigation and quick reference. Actionable Strategies: Provides step-by-step instructions and templates to implement the principles effectively. Adaptable Content: Suitable for aspiring entrepreneurs, small business owners, and students pursuing business studie

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CHAPTER ONE: NATURE, PURPOSE AND KINDS OF LAW

Learning Objectives

 Define law and related terms

 Differentiate law from morality

 Understand the role of law in society

 Understand the relationship between law and ethics

 Differentiate classifications of law

Definition and Nature of Law

Law is a system of rules developed and enforced by a government to regulate behavior and ensure justice. It governs the conduct of
individuals and groups within a society.

Views by Jurists:

 Hobbes: Law limits natural liberty to promote mutual assistance.

 Locke: Law preserves and enlarges freedom.

 Bentham: Law promotes happiness for the greatest number.

 Roscoe Pound: Law maintains order, status quo, personal freedom, and meets societal needs.

 Salmond: Law aims to achieve justice.

Importance and Role of Law

 Maintains law and order

 Protects individual rights

 Promotes fairness and equality

 Provides mechanisms to resolve disputes

Advantages of Law

 Ensures uniformity and consistency

 Prevents arbitrary decisions

 Guides judicial decision-making

Disadvantages of Law

 Can be rigid and conservative

 May be complex and slow to change

 Formalities may delay justice

Law vs. Morality

 Law: Enforceable by courts, applies to all, precise.

 Morality: Based on personal or cultural values, not legally enforced.

Example: Stealing violates both law and morality; dishonoring parents violates morality but not law.

Classifications of Law

1. Public Law: State vs. individual (e.g. criminal, constitutional)

2. Private Law: Individual vs. individual (e.g. contracts, torts)

, 3. Civil Law: Rights and duties between individuals

4. Criminal Law: Offenses against the state

5. Substantive Law: Defines rights and duties

6. Procedural Law: Outlines legal processes

7. International Law: Governs relations between nations

8. Municipal Law: Domestic law of a nation



CHAPTER TWO: SOURCES OF KENYAN LAW

Formal Sources (Judicature Act, Sec. 3)

1. The Constitution – Supreme law

2. Statutes – Acts of Kenyan Parliament

3. UK Statutes of General Application (pre-1897)

4. Common Law and Equity (pre-1897)

5. Judicial Precedents

6. Delegated/Subsidiary Legislation

7. African Customary Law

8. Islamic Law

The Constitution

 Defines government structure, rights, and duties

 Supreme law (Article 2): Any law inconsistent with it is void

Legislation (Statute Law)

 Law enacted by Parliament

 Bills: Proposed laws (Public or Private Member Bills)

 Process: Proposal → Cabinet → Drafting → Three Readings in Parliament → Presidential assent

Delegated Legislation

 Made by bodies under authority from Parliament

 Includes by-laws, rules, orders, etc.

 Advantages: Quick, flexible, uses expert knowledge

 Disadvantages: May lack oversight, undemocratic

Common Law and Equity

 Based on English legal principles pre-1897

 Common Law: Custom-based judicial decisions

 Equity: Fairness, supplements common law

Judicial Precedent (Case Law)

 Past court decisions guide future ones

 Ratio decidendi: Binding part

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Uploaded on
May 16, 2025
Number of pages
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Written in
2024/2025
Type
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Faith watuma
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