Revisionsfragen und Antworten zum Wirtschaftsrecht (CBT) / Wirtschaftsrecht, CBT Q&A / Unter Karl Izuoba / März 9, 2020 August 23, 2021 These questions were extracted from 2017 Yabatech Test Questions on Business Law (ND3 PT) Bitte gib deine E-Mail-Adresse ein: 1. A seller’s right to stop goods on the way before it gets to the buyer is called____ Work in Transit Transiting Stoppage in transitu 2. The mode of payment by the hirer in a hire purchase transaction is____ Installment Payment Progress Payment Major Payment 3. An agent who indemnifies the principal in return for an extra or higher commission is called____ Decorative Agent Assistant Agent Del Credere Agent 4. Sale in market overt, estoppels, sale by the seller in possession and sale by the buyer in possession are exceptions to the principle captured in the Latin phrase called____ Nemo Habet Herbert Macaulay Nemo Dat Quod Non Habet 5. A person who appoints another and authorizes him to enter into a contractual relationship with a third party is called____ Headmaster Proprietor Principal 6. A partner who does not participate in the day to day running of a partnership business is____ Distance Partner Unaccepted partner Sleeping Partner 7. State the type of goods to which the Hire Purchase Act 2004 is applicable irrespective of the amount involved. Machine Set Motor Vehicle Vehicle Repair 8. A partnership with one or more partners and one or more limited partners is called____ Siehe auch: Law Case Study - How To Answer Case Studies in Law Restricted Partnership Limited Partnership Approved Partnership 9. A term which authorizes the owner or his agent to enter any premises to retake possession in a hire purchase agreement is____ Agreement Possession Stamp Void 10. Under the Hire Purchase Act 2004, the owner can recover possession without a court order, where there is a default in an instalment when the____ has been paid. 30% or 70% 40% or 60% 50% or 60% 11. Except for Lawyers and Accountants, it is illegal to form a partnership of more than____ persons. 20 15 10 12. The relationship which subsists between persons carrying on business is common is called____ Participation Partnership Collaboration 13. Where, without the fault of either party of a contract, there is an occurrence that makes the contract impossible to perform, the contract is said to have been____ Savaged Dissolved Frustrated 14. Goods that are owned or possessed by the seller under a contract of sale are called____ Real Goods Existing Goods Contractors Goods 15. Where an offeree refuses to assent to the terms of an offer, the offer is said to have been____ Rejected Void Collapse 16. When will title in goods pass to the hirer under a hire purchase contract? Siehe auch: Law of Partnership - The Partnership Law When the hirer pays completely for the goods When the hirer exercises the option to purchase When the hirer pays as agreed for the goods 17. If an acceptance is conditional or any fresh term is included by the offeree, the acceptance is called____ Counter Offer Replanned Offer First Offer 18. The type of agency created in an emergency for the benefit of a person whose authority cannot be obtained is called Agency of Necessity Agency of Need Emergency Agency 19. A bill which on the face of it purports or is to be both drawn and payable within Nigeria or drawn within Nigeria upon some person resident therein is called____ National Bill Permanent Bill Inland Bill 20. ____is required in addition to delivery for a bill of exchange payable to order to be negotiated. Commitment Focus Endorsement 21. The person on whom a bill is drawn is known as____ Drawee Drawer Withdrawer 22. A bill of exchange drawn on a banker and payable on demand is called a____ Cheque Deposit Slip Withdrawal Slip 23. In a general partnership, the maximum number of partnerships is____ 20 15 10 24. Consideration must be sufficient but need to be____ Siehe auch: AGENCY - Law of Agency (Business Law) Approved Adequate Consistent 25. The principle whereby a principal subsequently accepts an unauthorized action of an agent is called____ Ratification Agreement Acceptance 26. An implied condition on the part of the seller that he has a right to sell goods when a property is to pass is known as____ Title CEO Ownership 27. Property will not pass in unascertained goods until the goods are____ Salable Ascertained Recommended 28. An invitation to make an offer is called____ Invitation to Treat Invitation to Sale Invitation for Business 29. Something of value in the eye of the law which is given for a promise in order to make it enforceable is called Promissory Note Consideration Agreement Laden … Verwandte Beiträge: AGENCY - Recht der Vertretung (Wirtschaftsrecht) #1-10 Fragen und Antworten zur Finanzbuchhaltung Vertragsrecht Recht der Partnerschaft - Das Partnerschaftsgesetz Juristische Fallstudie - Wie man Fallstudien in Jura beantwortet Störende Faktoren - 5 wichtige störende Faktoren Fragen zum 1,2,3 spaltigen Kassenbuch Einkaufskreislauf und internationaler Einkauf Fragen zur Wahrscheinlichkeitsrechnung - Wirtschaftsmathematik 10 Fragen zu Nebenbüchern Nebenbücher der Buchhaltung; Arten und Zusammenfassung