Find Related Questions by Tags, levels, etc.
Comment on the legality of the following relationships operating as partnerships:
i. A partnership of 16 persons established for charitable purposes
ii. Adex cooperative society consisting of 500 members
iii. Black and Blue law firm consisting of 31 lawyers
iv. Stone Partnership firm comprising Segun aged 28, Tunde aged 17
v. A partnership of volunteers for the purpose of helping persons displaced by flood.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Crossing of cheques has legal implications in banking transactions, and a cheque is a type of negotiable instrument.
Required:
i. A cheque instruction to “pay Ronke the sum of N50,000.00” without crossing the face of the cheque with two parallel lines.
ii. “Pay Andrew N100,000” with two parallel lines traversing the face of the cheque.
iii. “Pay Mary N150,000” with two parallel lines with Congo Bank written in between the two parallel lines on the face of the cheque.
iv. “Pay Ngozi N200,000” and by cheque with two parallel lines and the words “account payee only” written in between the two parallel lines.
v. Define negotiable instruments.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
In sale of goods law, a buyer could acquire ownership of goods only if the seller had title to such goods.
Required:
State FIVE instances where a seller who has no title could pass a good title to the buyer in a sale of goods transaction.
Find Related Questions by Tags, levels, etc.
Lewis Adey, as company secretary, sends a notice of meeting dated 2 March to members for an Annual General Meeting scheduled for 30 March. The notices were sent out by Lewis on 12 March.
Required:
a. Comment on the validity of the notice. (7 Marks)
b. Explain TWO situations in which a general meeting of a company shall be deemed duly called notwithstanding that it is called by a shorter notice. (4 Marks)
c. Explain briefly TWO businesses which a notice for a company’s annual general meeting must specify. (4 Marks)
Find Related Questions by Tags, levels, etc.
Musa, an insurance agent employed by Baloon Insurance Limited, assisted Uche to complete an insurance policy proposal form.
Required:
i. Explain briefly whose agent Musa is in this situation. (2 Marks)
ii. Explain what is meant by “material fact” in relation to insurance contracts? (3 Mar
Find Related Questions by Tags, levels, etc.
Chief Newton is responsible for the university education of Onome who then decides to insure Chief Newton’s life with Maxim Assurance Plc. The policy became effective on 2 March, but unknown to Onome and Maxim Plc, Chief Newton had died back in the village on 28 February.
Required:
Advise Onome as to whether or not she can sustain a claim under the policy, giving reasons for your advice.
Find Related Questions by Tags, levels, etc.
Angela sells fresh fish and made an offer to Mike at a party. Mike undertook to let Angela know his mind by post, since Angela could be reached only by post. On 2 March, Mike posted an acceptance letter to Angela, which got to Angela the day after Angela had sold her fresh fish to Andrew on 5 March. Mike wants to sue Angela for breach of contract.
a. Advise Angela as to whether or not she was bound to Mike by contract. (5 Marks)
b. Does Mike have a valid case against Angela? Give reasons for your answer. (3 Marks)
c. Is Andrew liable to Mike? State the reason for your answer. (2 Marks)
d. Explain briefly TWO differences between an “offer” and an “invitation to treat”. (5 Marks)
Find Related Questions by Tags, levels, etc.
Dickson is an illiterate. He entered into an agreement with Continental Bakery Limited to supply bags of flour at N15.00 per bag. Unknown to him, the written agreement, which he thumb-printed, read N10.00 per bag. He had supplied 1,000 bags for which the company wants to pay the price in the written contract. Advise Dickson in the circumstances.
Find Related Questions by Tags, levels, etc.
Under the Nigerian legal system, there are special courts created by statute to adjudicate on specific matters. State the courts that are created by law to handle the following matters:
i. Labour matters;
ii. Offences committed by infants;
iii. Election petitions.
Find Related Questions by Tags, levels, etc.
Elevate your professional expertise across key business domains with our comprehensive training programs
Follow us on our social media and get daily updates.
This feature is only available in selected plans.
Click on the login button below to login if you’re already subscribed to a plan or click on the upgrade button below to upgrade your current plan.
If you’re not subscribed to a plan, click on the button below to choose a plan