Question Tag: Principal-Agent Relationship

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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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  • 5 Marks

BL – Nov 2020 – L1 – SB – Q5c – Agency Law

List the duties of an agent in an agency contract.

Parties under a contract of agency have certain rights and duties.

Required:
State FIVE duties of an agent under a contract of agency.

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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 – May 2013 – L1 – SA – Q8 – Agency Law

This question tests the understanding of the concept of ratification by a principal in an agency relationship.

Any act or statement which clearly shows the intention of the principal to adopt the action taken on his behalf by the agent is known as:

A. Ratification
B. Estoppel
C. Revocation
D. Consideration
E. Novation

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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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  • 6 Marks

BL – Nov 2022 – L1 – SB – Q4c – Agency Law

Advising on the legal implications of Tobi’s sale of goods due to emergency.

Jaga contracted Tobi, a transporter, to deliver a trailer-load of bagged salt from Lagos to a customer in Abuja. Midway on the journey and in a remote village, it started raining and the salt was melting as the consignment was exposed. In order to prevent total loss of the consignment, Tobi quickly stopped at the nearest market and sold the wet salt to a buyer at half price.

Jaga is annoyed with Tobi and intends to sue the buyer to recover the salt, claiming that Tobi had no authority to act on his behalf.

Required:
Advise Jaga on his intended action against the buyer.

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  • 1 Marks

BL – May 2022 – L1 – SA – Q12 – Agency Law

Define the principal’s action when accepting a contract made by an agent without prior authority.

Where an agent acts without an authority of his principal but the principal accepts subsequently to be bound by the contract, the principal’s action is known as
A. Estoppel
B. Ratification
C. Recognition
D. Acceptance
E. Approval

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  • 4 Marks

BL – Nov 2023 – L1 – SB – Q2d – Agency Law

Explains the concept of a del credere agent and lists the duties of a principal to an agent.

As business became more complex, the concept of agency was developed to facilitate transactions.
Required:
i. Explain del credere agent. (2 Marks)
ii. State TWO duties of a principal to an agent. (2 Marks)

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  • 1 Marks

BL – MarJul 2020 – L1 – SA – Q12 – Agency Law

Question on identifying the type of agent who can perform all acts on behalf of the principal in the course of business.

An agent who can do all acts in the course of business on behalf of the principal is referred to as
A. Subordinate principal
B. Authorised agent
C. Superior agent
D. Acting principal
E. General agent

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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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  • 5 Marks

BL – Nov 2020 – L1 – SB – Q5c – Agency Law

List the duties of an agent in an agency contract.

Parties under a contract of agency have certain rights and duties.

Required:
State FIVE duties of an agent under a contract of agency.

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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 – May 2013 – L1 – SA – Q8 – Agency Law

This question tests the understanding of the concept of ratification by a principal in an agency relationship.

Any act or statement which clearly shows the intention of the principal to adopt the action taken on his behalf by the agent is known as:

A. Ratification
B. Estoppel
C. Revocation
D. Consideration
E. Novation

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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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  • 6 Marks

BL – Nov 2022 – L1 – SB – Q4c – Agency Law

Advising on the legal implications of Tobi’s sale of goods due to emergency.

Jaga contracted Tobi, a transporter, to deliver a trailer-load of bagged salt from Lagos to a customer in Abuja. Midway on the journey and in a remote village, it started raining and the salt was melting as the consignment was exposed. In order to prevent total loss of the consignment, Tobi quickly stopped at the nearest market and sold the wet salt to a buyer at half price.

Jaga is annoyed with Tobi and intends to sue the buyer to recover the salt, claiming that Tobi had no authority to act on his behalf.

Required:
Advise Jaga on his intended action against the buyer.

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  • 1 Marks

BL – May 2022 – L1 – SA – Q12 – Agency Law

Define the principal’s action when accepting a contract made by an agent without prior authority.

Where an agent acts without an authority of his principal but the principal accepts subsequently to be bound by the contract, the principal’s action is known as
A. Estoppel
B. Ratification
C. Recognition
D. Acceptance
E. Approval

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  • 4 Marks

BL – Nov 2023 – L1 – SB – Q2d – Agency Law

Explains the concept of a del credere agent and lists the duties of a principal to an agent.

As business became more complex, the concept of agency was developed to facilitate transactions.
Required:
i. Explain del credere agent. (2 Marks)
ii. State TWO duties of a principal to an agent. (2 Marks)

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  • 1 Marks

BL – MarJul 2020 – L1 – SA – Q12 – Agency Law

Question on identifying the type of agent who can perform all acts on behalf of the principal in the course of business.

An agent who can do all acts in the course of business on behalf of the principal is referred to as
A. Subordinate principal
B. Authorised agent
C. Superior agent
D. Acting principal
E. General agent

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