Consideration – Knowsia

BL – Nov 2020 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Objective question on the form of consideration in hire purchase agreements.

Question

13. The consideration for a hire purchase is
A. Payment of shares
B. Price of goods
C. Installmental payment
D. Bill of exchange
E. Cost of goods

Answer

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Tags: Consideration, Hire Purchase, Installment Payment, Payment Terms
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2020

BL – Nov 2011 – L1 – SB – Q2c – Law of Contract

Identifying and explaining the elements of a valid contract.

Question

State briefly the elements of a valid contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contracts, Intention to Create Legal Relations, Offer and Acceptance
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – May 2014 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Understanding the term for possession in hire purchase after payment.

Question

In hire purchase transaction, the hirer is put in possession of goods on payment of the consideration known as ____________.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Hire Purchase, Possession
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2014

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

Question

A contract may be valid without consideration if it
A. Has exclusion term
B. Has warranty
C. Is by deed
D. Is implied
E. Is made express

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract, Legal Requirements
Level: Level 1

Topic: Law of Contract
Series: MAY 2018

BL – May 2024 – L1 – SB – Q3b – Law of Contract

State and explain four rules that govern consideration in contracts.

Question

Consideration is an element of a contract.
Required:
State FOUR rules that govern consideration. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consideration, Contracts, Legal Rules
Level: Level 1

Topic: Law of Contract
Series: MAY 2024

BL – May 2015 – L1 – SA – Q18 – Law of Contract

Identify the consideration in a contract of insurance.

Question

The consideration in a contract of insurance is
A. Subrogation
B. Premium
C. Assignment
D. Policy
E. Money

Answer

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Tags: Consideration, Insurance
Level: Level 1

Topic: Law of Contract
Series: MAY 2015

BCL – Nov 2020 – L1 – Q5c – Contract Law

Explain whether consideration is always a requirement for a contract to be valid.

Question

Explain whether consideration is always a requirement for a contract to be valid. (5 marks)

Answer

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Tags: Consideration, Contract Law, Contract Validity
Level: Level 1

Topic: Contract Law
Series: NOV 2020

BCL – May 2017 – L1 – Q4b – Contract Law

Discuss the legality of withdrawing a promise to keep an offer open for a specified period under Ghanaian law.

Question

b) ‘A promise to keep an offer open for a specified period can be withdrawn by the promisor before the expiration of the period’

Required: Explain whether this is a true position of the law in Ghana now. (8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract Law, Offer and Acceptance, Withdrawal of Offer
Level: Level 1

Topic: Contract Law
Series: MAY 2017

BCL – May 2017 – L1 – Q2 – Contract Law

Evaluate the likelihood of success for legal actions based on an advertisement offering a reward for product effectiveness.

Question

On 20 November 2015, the ‘Daily Graphic Newspaper’ advertised a promotion sale for Dabenda Company Limited stating that the Company’s “Miracle Balm” was capable of treating boils and foot-rot and that whoever bought the product and used it per the prescription without the boils and foot-rot disappearing would be entitled to GH¢200.00. Pursuant to that promise, the Company gave a standing order to its bankers on that pledge. The promotion sale was due to end on 19 November 2016.

Madam Akua Mansah heard of the advertisement and bought one of the balms. She used it according to the prescription and also applied some of the cream to her 14-year-old daughter who had similar problems but their boils and foot-rot still persisted. She intends to sue the Company.

Required:

i) Explain whether Madam Akua Mansah is likely to succeed with her intended action. (10 marks)

ii) Madam Akua Mansah’s daughter also intends to take action against the company. Explain her chances, if any. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Advertisement, Consideration, Contract Law, Legal Capacity, Offer and Acceptance
Level: Level 1

Topic: Contract Law
Series: MAY 2017

BCL – May 2016 – L1 – Q3b – Contract Law

Explain five rules that relate to consideration in the Law of Contract.

Question

Explain FIVE rules that relate to consideration in the Law of Contract. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract Law, Legal Principles
Level: Level 1

Topic: Contract Law
Series: MAY 2016

BL – Nov 2020 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Objective question on the form of consideration in hire purchase agreements.

Question

13. The consideration for a hire purchase is
A. Payment of shares
B. Price of goods
C. Installmental payment
D. Bill of exchange
E. Cost of goods

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Hire Purchase, Installment Payment, Payment Terms
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2020

BL – Nov 2011 – L1 – SB – Q2c – Law of Contract

Identifying and explaining the elements of a valid contract.

Question

State briefly the elements of a valid contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contracts, Intention to Create Legal Relations, Offer and Acceptance
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – May 2014 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Understanding the term for possession in hire purchase after payment.

Question

In hire purchase transaction, the hirer is put in possession of goods on payment of the consideration known as ____________.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Hire Purchase, Possession
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2014

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

Question

A contract may be valid without consideration if it
A. Has exclusion term
B. Has warranty
C. Is by deed
D. Is implied
E. Is made express

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract, Legal Requirements
Level: Level 1

Topic: Law of Contract
Series: MAY 2018

BL – May 2024 – L1 – SB – Q3b – Law of Contract

State and explain four rules that govern consideration in contracts.

Question

Consideration is an element of a contract.
Required:
State FOUR rules that govern consideration. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consideration, Contracts, Legal Rules
Level: Level 1

Topic: Law of Contract
Series: MAY 2024

BL – May 2015 – L1 – SA – Q18 – Law of Contract

Identify the consideration in a contract of insurance.

Question

The consideration in a contract of insurance is
A. Subrogation
B. Premium
C. Assignment
D. Policy
E. Money

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Insurance
Level: Level 1

Topic: Law of Contract
Series: MAY 2015

BCL – Nov 2020 – L1 – Q5c – Contract Law

Explain whether consideration is always a requirement for a contract to be valid.

Question

Explain whether consideration is always a requirement for a contract to be valid. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract Law, Contract Validity
Level: Level 1

Topic: Contract Law
Series: NOV 2020

BCL – May 2017 – L1 – Q4b – Contract Law

Discuss the legality of withdrawing a promise to keep an offer open for a specified period under Ghanaian law.

Question

b) ‘A promise to keep an offer open for a specified period can be withdrawn by the promisor before the expiration of the period’

Required: Explain whether this is a true position of the law in Ghana now. (8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract Law, Offer and Acceptance, Withdrawal of Offer
Level: Level 1

Topic: Contract Law
Series: MAY 2017

BCL – May 2017 – L1 – Q2 – Contract Law

Evaluate the likelihood of success for legal actions based on an advertisement offering a reward for product effectiveness.

Question

Required:

i) Explain whether Madam Akua Mansah is likely to succeed with her intended action. (10 marks)

ii) Madam Akua Mansah’s daughter also intends to take action against the company. Explain her chances, if any. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Advertisement, Consideration, Contract Law, Legal Capacity, Offer and Acceptance
Level: Level 1

Topic: Contract Law
Series: MAY 2017

BCL – May 2016 – L1 – Q3b – Contract Law

Explain five rules that relate to consideration in the Law of Contract.

Question

Explain FIVE rules that relate to consideration in the Law of Contract. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract Law, Legal Principles
Level: Level 1

Topic: Contract Law
Series: MAY 2016

Question Tag: Consideration

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BL – Nov 2020 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Objective question on the form of consideration in hire purchase agreements.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2011 – L1 – SB – Q2c – Law of Contract

Identifying and explaining the elements of a valid contract.

You're reporting an error for "BL – Nov 2011 – L1 – SB – Q2c – Law of Contract"

BL – May 2014 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Understanding the term for possession in hire purchase after payment.

You're reporting an error for "BL – May 2014 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions"

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

You're reporting an error for "BL – May 2018 – L1 – SA – Q11 – Law of Contract"

BL – May 2024 – L1 – SB – Q3b – Law of Contract

State and explain four rules that govern consideration in contracts.

You're reporting an error for "BL – May 2024 – L1 – SB – Q3b – Law of Contract"

BL – May 2015 – L1 – SA – Q18 – Law of Contract

Identify the consideration in a contract of insurance.

You're reporting an error for "BL – May 2015 – L1 – SA – Q18 – Law of Contract"

BCL – Nov 2020 – L1 – Q5c – Contract Law

Explain whether consideration is always a requirement for a contract to be valid.

You're reporting an error for "BCL – Nov 2020 – L1 – Q5c – Contract Law"

BCL – May 2017 – L1 – Q4b – Contract Law

Discuss the legality of withdrawing a promise to keep an offer open for a specified period under Ghanaian law.

You're reporting an error for "BCL – May 2017 – L1 – Q4b – Contract Law"

BCL – May 2017 – L1 – Q2 – Contract Law

Evaluate the likelihood of success for legal actions based on an advertisement offering a reward for product effectiveness.

You're reporting an error for "BCL – May 2017 – L1 – Q2 – Contract Law"

BCL – May 2016 – L1 – Q3b – Contract Law

Explain five rules that relate to consideration in the Law of Contract.

You're reporting an error for "BCL – May 2016 – L1 – Q3b – Contract Law"

BL – Nov 2020 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Objective question on the form of consideration in hire purchase agreements.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2011 – L1 – SB – Q2c – Law of Contract

Identifying and explaining the elements of a valid contract.

You're reporting an error for "BL – Nov 2011 – L1 – SB – Q2c – Law of Contract"

BL – May 2014 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Understanding the term for possession in hire purchase after payment.

You're reporting an error for "BL – May 2014 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions"

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

You're reporting an error for "BL – May 2018 – L1 – SA – Q11 – Law of Contract"

BL – May 2024 – L1 – SB – Q3b – Law of Contract

State and explain four rules that govern consideration in contracts.

You're reporting an error for "BL – May 2024 – L1 – SB – Q3b – Law of Contract"

BL – May 2015 – L1 – SA – Q18 – Law of Contract

Identify the consideration in a contract of insurance.

You're reporting an error for "BL – May 2015 – L1 – SA – Q18 – Law of Contract"

BCL – Nov 2020 – L1 – Q5c – Contract Law

Explain whether consideration is always a requirement for a contract to be valid.

You're reporting an error for "BCL – Nov 2020 – L1 – Q5c – Contract Law"

BCL – May 2017 – L1 – Q4b – Contract Law

Discuss the legality of withdrawing a promise to keep an offer open for a specified period under Ghanaian law.

You're reporting an error for "BCL – May 2017 – L1 – Q4b – Contract Law"

BCL – May 2017 – L1 – Q2 – Contract Law

Evaluate the likelihood of success for legal actions based on an advertisement offering a reward for product effectiveness.

You're reporting an error for "BCL – May 2017 – L1 – Q2 – Contract Law"

BCL – May 2016 – L1 – Q3b – Contract Law

Explain five rules that relate to consideration in the Law of Contract.

You're reporting an error for "BCL – May 2016 – L1 – Q3b – Contract Law"

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