Questions et réponses de révision sur le droit des affaires (CBT) / Droit des affaires, CBT Q&R / Par Charles Izuoba / mars 9, 2020 août 23, 2021 These questions were extracted from 2017 Yabatech Test Questions on Business Law (ND3 PT) Veuillez saisir votre email : 1. 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 2. A seller’s right to stop goods on the way before it gets to the buyer is called____ Work in Transit Stoppage in transitu Transiting 3. The type of agency created in an emergency for the benefit of a person whose authority cannot be obtained is called Agency of Necessity Emergency Agency Agency of Need 4. In a general partnership, the maximum number of partnerships is____ 15 10 20 5. An invitation to make an offer is called____ Invitation to Treat Invitation to Sale Invitation for Business 6. A bill of exchange drawn on a banker and payable on demand is called a____ Deposit Slip Withdrawal Slip Cheque 7. Consideration must be sufficient but need to be____ Consistent Approved Adequate 8. The mode of payment by the hirer in a hire purchase transaction is____ Progress Payment Major Payment Installment Payment 9. 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____ Voir aussi Vitiating Factors - 5 Major Vitiating Factors National Bill Inland Bill Permanent Bill 10. State the type of goods to which the Hire Purchase Act 2004 is applicable irrespective of the amount involved. Machine Set Vehicle Repair Motor Vehicle 11. 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____ Herbert Macaulay Nemo Dat Quod Non Habet Nemo Habet 12. Goods that are owned or possessed by the seller under a contract of sale are called____ Real Goods Contractors Goods Existing Goods 13. Except for Lawyers and Accountants, it is illegal to form a partnership of more than____ persons. 20 15 10 14. A person who appoints another and authorizes him to enter into a contractual relationship with a third party is called____ Principal Headmaster Proprietor 15. The principle whereby a principal subsequently accepts an unauthorized action of an agent is called____ Acceptance Agreement Ratification 16. Where an offeree refuses to assent to the terms of an offer, the offer is said to have been____ Rejected Collapse Void 17. A partnership with one or more partners and one or more limited partners is called____ Voir aussi Law of Contract Restricted Partnership Approved Partnership Limited Partnership 18. An agent who indemnifies the principal in return for an extra or higher commission is called____ Del Credere Agent Decorative Agent Assistant Agent 19. A partner who does not participate in the day to day running of a partnership business is____ Sleeping Partner Unaccepted partner Distance Partner 20. ____is required in addition to delivery for a bill of exchange payable to order to be negotiated. Commitment Endorsement Focus 21. Property will not pass in unascertained goods until the goods are____ Ascertained Recommended Salable 22. 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 23. 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. 40% or 60% 30% or 70% 50% or 60% 24. If an acceptance is conditional or any fresh term is included by the offeree, the acceptance is called____ Replanned Offer Counter Offer First Offer 25. 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____ Voir aussi AGENCY - Law of Agency (Business Law) CEO Title Ownership 26. 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____ Dissolved Frustrated Savaged 27. The person on whom a bill is drawn is known as____ Withdrawer Drawer Drawee 28. When will title in goods pass to the hirer under a hire purchase contract? When the hirer pays as agreed for the goods When the hirer exercises the option to purchase When the hirer pays completely for the goods 29. The relationship which subsists between persons carrying on business is common is called____ Participation Partnership Collaboration Chargement … Articles connexes : AGENCY – Law of Agency (Business Law) #1-10 Questions et réponses sur la comptabilité financière Law of Contract Law of Partnership – The Partnership Law Law Case Study – How To Answer Case Studies in Law Facteurs d'altération - 5 principaux facteurs d'altération Questions on 1,2,3 Column Cash Book Cycle d'achat et achats internationaux Questions on Probability – Business Maths 10 Questions on Subsidiary Books Subsidiary Books of Accounting; Types & Summary