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. A partner who does not participate in the day to day running of a partnership business is____ Sleeping Partner Distance Partner Unaccepted partner 2. A term which authorizes the owner or his agent to enter any premises to retake possession in a hire purchase agreement is____ Void Agreement Possession Stamp 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. 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 Inland Bill Permanent Bill 5. The principle whereby a principal subsequently accepts an unauthorized action of an agent is called____ Ratification Agreement Acceptance 6. 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 Nemo Dat Quod Non Habet Herbert Macaulay 7. 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. Zie ook: Vitiating Factors - 5 Major Vitiating Factors 30% or 70% 40% or 60% 50% or 60% 8. 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 9. A seller’s right to stop goods on the way before it gets to the buyer is called____ Transiting Work in Transit Stoppage in transitu 10. An agent who indemnifies the principal in return for an extra or higher commission is called____ Decorative Agent Del Credere Agent Assistant Agent 11. A person who appoints another and authorizes him to enter into a contractual relationship with a third party is called____ Proprietor Headmaster Principal 12. When will title in goods pass to the hirer under a hire purchase contract? When the hirer exercises the option to purchase When the hirer pays completely for the goods When the hirer pays as agreed for the goods 13. The relationship which subsists between persons carrying on business is common is called____ Collaboration Partnership Participation 14. Consideration must be sufficient but need to be____ Consistent Adequate Approved 15. A bill of exchange drawn on a banker and payable on demand is called a____ Zie ook: AGENCY - Law of Agency (Business Law) Deposit Slip Cheque Withdrawal Slip 16. ____is required in addition to delivery for a bill of exchange payable to order to be negotiated. Focus Endorsement Commitment 17. Except for Lawyers and Accountants, it is illegal to form a partnership of more than____ persons. 15 10 20 18. A partnership with one or more partners and one or more limited partners is called____ Limited Partnership Restricted Partnership Approved Partnership 19. In a general partnership, the maximum number of partnerships is____ 20 10 15 20. The mode of payment by the hirer in a hire purchase transaction is____ Installment Payment Progress Payment Major Payment 21. 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 22. Property will not pass in unascertained goods until the goods are____ Ascertained Salable Recommended 23. Goods that are owned or possessed by the seller under a contract of sale are called____ Existing Goods Contractors Goods Real Goods 24. 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____ Zie ook: Law of Partnership - The Partnership Law Savaged Frustrated Dissolved 25. Where an offeree refuses to assent to the terms of an offer, the offer is said to have been____ Rejected Void Collapse 26. The person on whom a bill is drawn is known as____ Drawer Drawee Withdrawer 27. An invitation to make an offer is called____ Invitation for Business Invitation to Treat Invitation to Sale 28. Something of value in the eye of the law which is given for a promise in order to make it enforceable is called Consideration Promissory Note Agreement 29. If an acceptance is conditional or any fresh term is included by the offeree, the acceptance is called____ First Offer Replanned Offer Counter Offer 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