INRODUCTION

This module introduces learners to the law governing agency and commercial transactions. Society being dynamic, means a lot of buying and selling of different forms of commodities is done on a daily basis. Regulating relationships that sellers and buyers enter into therefore becomes cardinal for the harmony of business. Commercial law contains principles that have to be followed whenever business interactions are conducted. This module provides information on the rules that guide commercial transactions. The module begins with an explanation of what commercial law actually is and its purpose. It explains what agency is and how the relationship of agency is created. The module explains the Sale of Goods Act and what it provides vis, sale of goods transactions. It explains what an agreement of sale is and the distinction from a hire purchase agreement. Insurance, negotiable instruments and what they are, has been addressed by the module. The module therefore equips learners with knowledge that is vital for them and as they go into the practice of law.   

OBJECTIVES

• The objectives of this module are:
• To explain what commercial law is and what it is concerned with
• To explain what agency is and how it arise.
• To explain what insurance is and the rationale for its existence
• To explain what a sales agreement is and how it is different from a hire purchase agreement
• To explain what negotiable instruments are and how they operate. 

LEARNING OUTCOMES

• At the end of this module you should be able to:
• Know and explain what commercial law is and its purpose
• Know and explain what agency is and how it is created
• Know and explain what insurance is and its relevance
• Know and explain what a sales agreement is
• Know and explain what a hire purchase agreement is
• Know and explain what negotiable instruments are and how they operate.

UNIT 1 – AGENCY AND COMMERCIAL LAW – INTRODUCTION

UNIT 2 – AGENCY RELATIONSHIP 

UNIT 3 – HIRE PURCHASE AND AGREEMENT OF SALE 

UNIT 4 – AGREEMENT OF SALE

UNIT 5 – NEGOTIABLE INSTRUMENTS 

UNIT 6 – INSURANCE AND INSRUABLE INTEREST

 

RECOMMENDED READING

Malila Mumba. (2006). Commercial Law in Zambia: Cases and Materials. Lusaka: UNZA Press  

Goode R. (2017)(5^th edn). Commercial Law. London: Penguin

Beale H. Bishop W. Furmston M. (2007)(5^th edn). Contract: Cases and Materials. Oxford: