Question Tag: Agency Law

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  • 20 Marks

INS – JUL 2020 – L4 – Q7 – Duties of an Agent in Law

List and explain the duties of an agent under law, with relevance to insurance practices such as brokers and intermediaries.

List and explain the duties of an agent in law

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  • 5 Marks

BCL – Nov 2024 – L1 – Q4a – Agency of Necessity

Legal implications of an agent acting in necessity during a curfew.

Ozoozo is a cargo driving agent of Oforiwa, a trader. Ozoozo loaded a truck of yam from Kutunada for delivery to Oforiwa in Accra. In the course of the journey and at Butako township, a curfew was imposed as a result of chieftaincy issues in the traditional area. He tried to communicate with Oforiwa but he was unable to do so due to network challenges. Ozoozo found it useful to off-load the cargo of yam and dispose of it by sale. He accounted for the sale but Oforiwa became furious.

Required:
Advise Oforiwa.

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  • 1 Marks

BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

10. The right of an agent to be reimbursed for expenses incurred in performing his authorised duties is called
A. Remuneration
B. Compensation
C. Indemnity
D. Salary
E. Commission

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  • 1 Marks

BL – May 2012 – L1 – SA – Q5 – Agency Law

Identify the type of agency created in an emergency without instructions.

The type of agency which is created in an emergency without the opportunity to contact the principal and get his instruction is called:

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  • 1 Marks

BL – May 2012 – L1 – SA – Q13 – Agency Law

Determine the number of parties involved in an agency relationship.

An agency relationship is one involving:

A. A single party
B. Two parties
C. Three parties
D. Four parties
E. Five parties

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  • 1 Marks

BL – Nov 2012 – L1 – SA – Q10 – Agency Law

Identify which is NOT a condition for valid ratification.

Which of the following is NOT a condition for a valid ratification under agency law?
A. The professed principal must be in existence at the time of the contract
B. The contract must be professedly made on behalf of an identified or identifiable principal
C. The principal must have enough money to finance the transaction
D. The professed principal must have had full knowledge of all the material facts of the contract at the time of ratification
E. Ratification must be made within a reasonable time

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  • 1 Marks

BL – Nov 2013 – L1 – SA – Q7 – Agency Law

Identifies the term for an agent's authority stated in writing.

The authority of an agent stated in writing is known as _____________________.

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  • 1 Marks

BL – Nov 2015 – L1 – SA – Q15 – Agency Law

Breach of duty when an agent makes secret profits.

An agent that makes secret profits has breached his duty of
A. Secrecy
B. Good faith
C. Obedience
D. Assignment
E. Performance

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  • 6 Marks

BL – Nov 2014 – L1 – SB – Q5c – Agency Law

Explain three types of agents under the law of agency.

The law of agency deals with rules that govern the relationship between commercial agents, their principals, and third parties.
You are required to explain briefly any THREE types of agents.
(Total 6 Marks)

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  • 1 Marks

BL – Nov 2014 – L1 – SA – Q15 – Agency Law

Identify the agent representing a principal in the disposal of real property.

An agent that represents a principal in the disposal of real property is called a/an
A. Broker Agent
B. Factor Agent
C. Auctioneer
D. Mercantile Agent
E. Del-credere Agent

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  • 20 Marks

INS – JUL 2020 – L4 – Q7 – Duties of an Agent in Law

List and explain the duties of an agent under law, with relevance to insurance practices such as brokers and intermediaries.

List and explain the duties of an agent in law

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  • 5 Marks

BCL – Nov 2024 – L1 – Q4a – Agency of Necessity

Legal implications of an agent acting in necessity during a curfew.

Ozoozo is a cargo driving agent of Oforiwa, a trader. Ozoozo loaded a truck of yam from Kutunada for delivery to Oforiwa in Accra. In the course of the journey and at Butako township, a curfew was imposed as a result of chieftaincy issues in the traditional area. He tried to communicate with Oforiwa but he was unable to do so due to network challenges. Ozoozo found it useful to off-load the cargo of yam and dispose of it by sale. He accounted for the sale but Oforiwa became furious.

Required:
Advise Oforiwa.

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  • 1 Marks

BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

10. The right of an agent to be reimbursed for expenses incurred in performing his authorised duties is called
A. Remuneration
B. Compensation
C. Indemnity
D. Salary
E. Commission

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  • 1 Marks

BL – May 2012 – L1 – SA – Q5 – Agency Law

Identify the type of agency created in an emergency without instructions.

The type of agency which is created in an emergency without the opportunity to contact the principal and get his instruction is called:

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  • 1 Marks

BL – May 2012 – L1 – SA – Q13 – Agency Law

Determine the number of parties involved in an agency relationship.

An agency relationship is one involving:

A. A single party
B. Two parties
C. Three parties
D. Four parties
E. Five parties

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  • 1 Marks

BL – Nov 2012 – L1 – SA – Q10 – Agency Law

Identify which is NOT a condition for valid ratification.

Which of the following is NOT a condition for a valid ratification under agency law?
A. The professed principal must be in existence at the time of the contract
B. The contract must be professedly made on behalf of an identified or identifiable principal
C. The principal must have enough money to finance the transaction
D. The professed principal must have had full knowledge of all the material facts of the contract at the time of ratification
E. Ratification must be made within a reasonable time

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  • 1 Marks

BL – Nov 2013 – L1 – SA – Q7 – Agency Law

Identifies the term for an agent's authority stated in writing.

The authority of an agent stated in writing is known as _____________________.

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  • 1 Marks

BL – Nov 2015 – L1 – SA – Q15 – Agency Law

Breach of duty when an agent makes secret profits.

An agent that makes secret profits has breached his duty of
A. Secrecy
B. Good faith
C. Obedience
D. Assignment
E. Performance

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  • 6 Marks

BL – Nov 2014 – L1 – SB – Q5c – Agency Law

Explain three types of agents under the law of agency.

The law of agency deals with rules that govern the relationship between commercial agents, their principals, and third parties.
You are required to explain briefly any THREE types of agents.
(Total 6 Marks)

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  • 1 Marks

BL – Nov 2014 – L1 – SA – Q15 – Agency Law

Identify the agent representing a principal in the disposal of real property.

An agent that represents a principal in the disposal of real property is called a/an
A. Broker Agent
B. Factor Agent
C. Auctioneer
D. Mercantile Agent
E. Del-credere Agent

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