The common law of Ghana shall comprise the rules of law generally known as the common law, the rules generally known as the doctrines of equity and the rules of customary law including those determined by the Superior Court of Judicature.

• The principle that all people and institutions are subject to and accountable to law that is fairly applied and enforced; the principle of government by law. In a broader sense Rule of Law means that Law is supreme and is above every individual. No individual whether if he is rich, poor, rulers or ruled etc. are above law and they should obey it. In a narrower sense the rule of law implies that government authority may only be exercised in accordance with the written laws, which were adopted through an established procedure.
• The principle of Rule of Law is intended to be a safeguard against arbitrary actions of the government authorities. The rule of law centrally comprises “the values of regularity and restraint, embodied in the slogan of “‘a government of laws, not men’”.

Under the Bill of Exchange Act where the sum of money payable is expressed in words and also in figures, and there is a discrepancy between the two, the sum denoted by words is the amount payable. For this reason BBB Bank will be justified to pay GH¢2, 000.00 to Kofi Mensa.

A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum of money to or to the order of a specified person or to the bearer.

• In a contract of sale of goods by description, whether or not the sale is by sample as well as by description, there is implied condition that the goods shall correspond exactly with the description.
• In a contract of sale of goods by sample, whether or not the sale is by description as well as by sample there is an implied condition that the goods shall correspond exactly with the sample.
• Thus the goods did not correspond to the description or the sample.
  

Specific goods are goods identified and agreed on before or at the time the contract of sale is made. This requires that the actual goods that the buyer is to receive under the contract can be identified at the time that the contract is agreed. Thus, goods bought at the supermarket picked from the shelf or second hand car chosen off a garage forecourt and sold by reference to its registration number. In each case the actual goods can be identified
Unascertained goods on the other hand are goods which are not identified and agreed on at the time that the contract is made. Thus goods yet to be manufactured or grown or acquired after making of the contract qualified to be specific goods.
Unascertained goods never become specific, they only become ascertained.

State the circumstances under which the Registrar of Companies shall refuse to register the proposed Regulations of a company.
The Registrar of Companies shall refuse to register the proposed Regulations where in his opinion:

• The Regulations do not comply with the Companies Act
• The objects for which the company is being formed or the business which it is to carry on or any of them are unlawful
• Any of the subscribers to the Regulations is an infant or of unsound mind.
• Any of the Directors are incompetent.

Upon incorporation a company becomes a body corporate, separate and distinct legal identity from those who formed it. The company has the powers of a natural person and of full capacity. Those who pulled their resources to form the company become members of the company if they subscribe to the Regulations of the company. A member has the right to attend a general meeting of the company and to speak and vote on a resolution.
None therefore, can claim ownership.

Under the Incorporated Private Partnerships Act, 1962 ACT 152 from the date of registration and incorporation, a firm is a body corporate under the firm name, distinct from the partners of whom it is composed and capable of a natural person of full capacity in so far as those powers can be exercised by a body corporate.

Although the firm is a body corporate, each partner in the firm is liable, without limitation for the debts and obligations of the firm. A partner is entitled to an indemnity from the firm and to contribute from the co-partners in accordance with the rights of that partner under the partnership agreement. Section 10 of ACT 152.

• A contract for the sale of goods is where the seller transfers or agrees to transfer the property in goods to the buyer for a consideration. Here the property in goods passes immediately upon conclusion of the contract.
• An agreement to sell is a situation where the parties agree now that property in the goods would be transferred to the buyer at a later date subject to some condition that has to be fulfilled.
• An agreement to sell becomes a sale upon fulfillment of the condition subject to which property in the good is to be transferred.