Legal Rights – Knowsia

AAA – Nov 2012 – L3 – AII – Q19 – Auditor’s Legal Liability

Identifies the conditions under which auditors can have a lien on the client's books and records.

Question

For the auditors to have a right of lien on the books and records of the client, they must have obtained ………… by …………… means.

Answer

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Tags: Audit Ethics, Auditor’s Lien, Client’s Records, Financial Documentation, Legal Rights
Level: Level 3

Topic: Auditor’s Legal Liability
Series: NOV 2012

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

Question

The legal expression used to describe all personal property rights which can only be claimed or enforced by action and not by taking physical possession is known as ___________.

Answer

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Tags: Chose in Action, Legal Rights, Personal Property
Level: Level 1

Topic: Agency Law
Series: MAY 2013

BL – May 2014 – L1 – SB – Q1C – Law of Tort

Advising Olu on his legal rights following an incident involving Ojoge.

Question

Ojoge is a driver with Ozaro Bottling Company. At the close of work on Tuesday, while still putting on the branded overall jacket of Ozaro Bottling Company and walking down the street to his house, a motorcyclist, Olu, splashed rainwater on Ojoge.
Ojoge beat up Olu thoroughly and fractured his arm. While attempting to flee from the scene to avoid being lynched by an angry mob, his overall jacket dropped, and the mob used the jacket to locate Ojoge’s place of work.
Based on the fact that Ojoge works with Ozaro Bottling Company, Olu is, considering seeking legal redress against Ozaro Bottling Company for the act of Ojoge.

Required:
Advise Olu on his rights under the law

Answer

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Tags: Legal Rights, Personal Injury, Tort Law
Level: Level 1

Topic: Law of Tort
Series: MAY 2014

BL – May 2014 – L1 – SA – Q15 – Partnership Law

Understanding the implied authority of a partner in a trading firm.

Question

A partner in a trading firm has the following implied authority EXCEPT:
A. Borrowing money on the firm’s credit
B. Pledging the firm’s goods and assets as security
C. Admission of a new partner
D. Drawing, accepting, transferring, or endorsing negotiable instruments in the name of the partnership
E. Instructing a solicitor to recover debts owed to the firm

Answer

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Tags: Implied Authority, Legal Rights, Partnership
Level: Level 1

Topic: Partnership Law
Series: MAY 2014

BL – Nov 2013 – L1 – SA – Q8 – Sale of Goods

Identifies the right to retain possession of goods before delivery to the buyer.

Question

The right to retain possession of goods before they are delivered to the buyer is _____________________.

Answer

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Tags: Legal Rights, Possession, Sale of Goods, Short Answer
Level: Level 1

Topic: Sale of Goods
Series: NOV 2013

BL – May 2023 – L1 – SB – Q6D – Agency Law

Identify the order of priority for persons applying for letters of administration under intestacy law.

Question

Intestacy law relates to persons who die intestate. Required: State SIX persons that can apply for letters of administration of the estate of a person who dies intestate in their order of priority under the law of intestacy.

Answer

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Tags: Intestacy, Legal Rights, Letters of Administration, Succession
Level: Level 1

Topic: Agency Law
Series: MAY 2023

BL – May 2023 – L1 – SB – Q2c – Contract Law

Advise Mr. Agbons on his legal rights regarding the sale of his pledged tricycle.

Question

Mr. Agbons pledged his tricycle to secure a loan of N200,000 from Chief Osas, a moneylender. Mr. Agbons promised to repay the loan on December 31 and recover his tricycle from Chief Osas. However, Chief Osas sold the tricycle on December 28 when he learned that Mr. Agbons had relocated to his village to be a farmer and might not return again. On the morning of December 31, Mr. Agbons came to meet Chief Osas to repay the N200,000, only to learn that the tricycle had been sold by Chief Osas. Mr. Agbons is aggrieved and intends to sue Chief Osas for the replacement of his tricycle.

Required:
Advise Mr. Agbons, stating the legal principle involved.

Answer

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Tags: Contract Law, Legal Rights, Loan Security, Pledge
Level: Level 1

Topic: Contract Law
Series: MAY 2023

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

Question

he insurance principle which allows an insurance company to take over and enforce the right of the insured is known as:

A. Usurpation
B. Representation
C. Subrogation
D. Contribution
E. Impersonation

Answer

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Tags: Insurance Law, Insurance Principles, Legal Rights, Subrogation
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2023

BL – March July 2020 – L1 – SB – Q5b – Law of Trusts

Explains the rights of a beneficiary in a trust under trust law.

Question

Trust is created for the benefit of named beneficiaries or objects.

Required:
Explain briefly THREE rights of a beneficiary of a trust. (6 Marks)

Answer

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Tags: Beneficiary Rights, Legal Rights, Trust Law, Trusts
Level: Level 1

Topic: Law of Trusts
Series: MAR/JULY 2020

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

Question

Yaro Ltd deals in cars. They let out their brand new car to Nakare on a hire purchase agreement. The total purchase price stood at GH¢86,000 payments to be made in two years. The monthly installment agreed on was GH¢3,600. With almost three quarters of the payment made, Nakare for unknown reasons refused to make further installment payments. Nakare refused to communicate to Yaro Ltd.

Officials of Yaro Ltd, including the accountant, while on a normal duty tour, chanced on the car and took possession of it. Nakare admitted to non-fulfillment of regular installment but argued that the company’s action was in error.

Required: i) With almost three quarters of the total purchase price paid, explain the legal nature of the goods. (5 marks)

ii) What are the possible implications of the actions of the officials of Yaro Ltd under the hire-purchase agreement? (5 marks)

Answer

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Tags: Contract Law, Hire Purchase, Legal Rights, Protected Goods
Level: Level 1

Topic: Sale of goods/hire purchase
Series: NOV 2023

AAA – Nov 2012 – L3 – AII – Q19 – Auditor’s Legal Liability

Identifies the conditions under which auditors can have a lien on the client's books and records.

Question

For the auditors to have a right of lien on the books and records of the client, they must have obtained ………… by …………… means.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Ethics, Auditor’s Lien, Client’s Records, Financial Documentation, Legal Rights
Level: Level 3

Topic: Auditor’s Legal Liability
Series: NOV 2012

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

Question

The legal expression used to describe all personal property rights which can only be claimed or enforced by action and not by taking physical possession is known as ___________.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Chose in Action, Legal Rights, Personal Property
Level: Level 1

Topic: Agency Law
Series: MAY 2013

BL – May 2014 – L1 – SB – Q1C – Law of Tort

Advising Olu on his legal rights following an incident involving Ojoge.

Question

Required:
Advise Olu on his rights under the law

Answer

Find Related Questions by Tags, levels, etc.

Tags: Legal Rights, Personal Injury, Tort Law
Level: Level 1

Topic: Law of Tort
Series: MAY 2014

BL – May 2014 – L1 – SA – Q15 – Partnership Law

Understanding the implied authority of a partner in a trading firm.

Question

Answer

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Tags: Implied Authority, Legal Rights, Partnership
Level: Level 1

Topic: Partnership Law
Series: MAY 2014

BL – Nov 2013 – L1 – SA – Q8 – Sale of Goods

Identifies the right to retain possession of goods before delivery to the buyer.

Question

The right to retain possession of goods before they are delivered to the buyer is _____________________.

Answer

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Tags: Legal Rights, Possession, Sale of Goods, Short Answer
Level: Level 1

Topic: Sale of Goods
Series: NOV 2013

BL – May 2023 – L1 – SB – Q6D – Agency Law

Identify the order of priority for persons applying for letters of administration under intestacy law.

Question

Answer

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Tags: Intestacy, Legal Rights, Letters of Administration, Succession
Level: Level 1

Topic: Agency Law
Series: MAY 2023

BL – May 2023 – L1 – SB – Q2c – Contract Law

Advise Mr. Agbons on his legal rights regarding the sale of his pledged tricycle.

Question

Required:
Advise Mr. Agbons, stating the legal principle involved.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Law, Legal Rights, Loan Security, Pledge
Level: Level 1

Topic: Contract Law
Series: MAY 2023

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

Question

he insurance principle which allows an insurance company to take over and enforce the right of the insured is known as:

A. Usurpation
B. Representation
C. Subrogation
D. Contribution
E. Impersonation

Answer

Find Related Questions by Tags, levels, etc.

Tags: Insurance Law, Insurance Principles, Legal Rights, Subrogation
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2023

BL – March July 2020 – L1 – SB – Q5b – Law of Trusts

Explains the rights of a beneficiary in a trust under trust law.

Question

Trust is created for the benefit of named beneficiaries or objects.

Required:
Explain briefly THREE rights of a beneficiary of a trust. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Beneficiary Rights, Legal Rights, Trust Law, Trusts
Level: Level 1

Topic: Law of Trusts
Series: MAR/JULY 2020

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

Question

Required: i) With almost three quarters of the total purchase price paid, explain the legal nature of the goods. (5 marks)

ii) What are the possible implications of the actions of the officials of Yaro Ltd under the hire-purchase agreement? (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Law, Hire Purchase, Legal Rights, Protected Goods
Level: Level 1

Topic: Sale of goods/hire purchase
Series: NOV 2023

Question Tag: Legal Rights

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AAA – Nov 2012 – L3 – AII – Q19 – Auditor’s Legal Liability

Identifies the conditions under which auditors can have a lien on the client's books and records.

You're reporting an error for "AAA – Nov 2012 – L3 – AII – Q19 – Auditor’s Legal Liability"

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

You're reporting an error for "BL – May 2013 – L1 – SA – Q5 – Agency Law"

BL – May 2014 – L1 – SB – Q1C – Law of Tort

Advising Olu on his legal rights following an incident involving Ojoge.

You're reporting an error for "BL – May 2014 – L1 – SB – Q1C – Law of Tort"

BL – May 2014 – L1 – SA – Q15 – Partnership Law

Understanding the implied authority of a partner in a trading firm.

You're reporting an error for "BL – May 2014 – L1 – SA – Q15 – Partnership Law"

BL – Nov 2013 – L1 – SA – Q8 – Sale of Goods

Identifies the right to retain possession of goods before delivery to the buyer.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q8 – Sale of Goods"

BL – May 2023 – L1 – SB – Q6D – Agency Law

Identify the order of priority for persons applying for letters of administration under intestacy law.

You're reporting an error for "BL – May 2023 – L1 – SB – Q6D – Agency Law"

BL – May 2023 – L1 – SB – Q2c – Contract Law

Advise Mr. Agbons on his legal rights regarding the sale of his pledged tricycle.

You're reporting an error for "BL – May 2023 – L1 – SB – Q2c – Contract Law"

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

You're reporting an error for "BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking"

BL – March July 2020 – L1 – SB – Q5b – Law of Trusts

Explains the rights of a beneficiary in a trust under trust law.

You're reporting an error for "BL – March July 2020 – L1 – SB – Q5b – Law of Trusts"

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

You're reporting an error for "BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase"

AAA – Nov 2012 – L3 – AII – Q19 – Auditor’s Legal Liability

Identifies the conditions under which auditors can have a lien on the client's books and records.

You're reporting an error for "AAA – Nov 2012 – L3 – AII – Q19 – Auditor’s Legal Liability"

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

You're reporting an error for "BL – May 2013 – L1 – SA – Q5 – Agency Law"

BL – May 2014 – L1 – SB – Q1C – Law of Tort

Advising Olu on his legal rights following an incident involving Ojoge.

You're reporting an error for "BL – May 2014 – L1 – SB – Q1C – Law of Tort"

BL – May 2014 – L1 – SA – Q15 – Partnership Law

Understanding the implied authority of a partner in a trading firm.

You're reporting an error for "BL – May 2014 – L1 – SA – Q15 – Partnership Law"

BL – Nov 2013 – L1 – SA – Q8 – Sale of Goods

Identifies the right to retain possession of goods before delivery to the buyer.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q8 – Sale of Goods"

BL – May 2023 – L1 – SB – Q6D – Agency Law

Identify the order of priority for persons applying for letters of administration under intestacy law.

You're reporting an error for "BL – May 2023 – L1 – SB – Q6D – Agency Law"

BL – May 2023 – L1 – SB – Q2c – Contract Law

Advise Mr. Agbons on his legal rights regarding the sale of his pledged tricycle.

You're reporting an error for "BL – May 2023 – L1 – SB – Q2c – Contract Law"

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

You're reporting an error for "BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking"

BL – March July 2020 – L1 – SB – Q5b – Law of Trusts

Explains the rights of a beneficiary in a trust under trust law.

You're reporting an error for "BL – March July 2020 – L1 – SB – Q5b – Law of Trusts"

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

You're reporting an error for "BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase"

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