Revisie vragen en antwoorden over ondernemingsrecht (CBT) / Bedrijfsrecht, V&A CBT / Door Charles Izuoba / maart 9, 2020 augustus 23, 2021 These questions were extracted from 2017 Yabatech Test Questions on Business Law (ND3 PT) Please enter your email: 1. When will title in goods pass to the hirer under a hire purchase contract? 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 2. Except for Lawyers and Accountants, it is illegal to form a partnership of more than____ persons. 15 10 20 3. Goods that are owned or possessed by the seller under a contract of sale are called____ Contractors Goods Existing Goods Real Goods 4. 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____ Ownership Title CEO 5. An agent who indemnifies the principal in return for an extra or higher commission is called____ Decorative Agent Assistant Agent Del Credere Agent 6. 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 Agreement Consideration 7. A partner who does not participate in the day to day running of a partnership business is____ Unaccepted partner Distance Partner Sleeping Partner 8. A term which authorizes the owner or his agent to enter any premises to retake possession in a hire purchase agreement is____ Zie ook: #1-10 Financial Accounting Questions & Answers Agreement Void Possession Stamp 9. Consideration must be sufficient but need to be____ Consistent Approved Adequate 10. In a general partnership, the maximum number of partnerships is____ 10 15 20 11. The relationship which subsists between persons carrying on business is common is called____ Collaboration Partnership Participation 12. 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 Habet Nemo Dat Quod Non Habet 13. A bill of exchange drawn on a banker and payable on demand is called a____ Deposit Slip Cheque Withdrawal Slip 14. 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% 15. ____is required in addition to delivery for a bill of exchange payable to order to be negotiated. Focus Commitment Endorsement 16. If an acceptance is conditional or any fresh term is included by the offeree, the acceptance is called____ Zie ook: AGENCY - Law of Agency (Business Law) Counter Offer Replanned Offer First Offer 17. Property will not pass in unascertained goods until the goods are____ Recommended Ascertained Salable 18. A partnership with one or more partners and one or more limited partners is called____ Approved Partnership Limited Partnership Restricted Partnership 19. A seller’s right to stop goods on the way before it gets to the buyer is called____ Stoppage in transitu Work in Transit Transiting 20. 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 21. The person on whom a bill is drawn is known as____ Drawer Drawee Withdrawer 22. The mode of payment by the hirer in a hire purchase transaction is____ Progress Payment Major Payment Installment Payment 23. An invitation to make an offer is called____ Invitation to Sale Invitation for Business Invitation to Treat 24. Where an offeree refuses to assent to the terms of an offer, the offer is said to have been____ Rejected Void Collapse 25. State the type of goods to which the Hire Purchase Act 2004 is applicable irrespective of the amount involved. Zie ook: Vitiating Factors - 5 Major Vitiating Factors Machine Set Motor Vehicle Vehicle Repair 26. The principle whereby a principal subsequently accepts an unauthorized action of an agent is called____ Ratification Agreement Acceptance 27. 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____ Frustrated Savaged Dissolved 28. A person who appoints another and authorizes him to enter into a contractual relationship with a third party is called____ Principal Proprietor Headmaster 29. 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____ Inland Bill National Bill Permanent Bill Loading … Gerelateerde berichten: AGENTSCHAP - agentuurrecht (ondernemingsrecht) #1-10 Vragen en antwoorden over financiële boekhouding Contractenrecht Vennootschapsrecht - De vennootschapswet Casestudy Rechten - Hoe casestudy's in Rechten te beantwoorden Verstorende factoren - 5 belangrijke verstorende factoren Vragen over 1,2,3 kolommen kasboek Inkoopcyclus en internationale inkoop Vragen over waarschijnlijkheid - Wiskunde 10 vragen over dochterboeken Boekhouding van dochterondernemingen; Soorten en samenvatting