BUSINESS LAW – Page 17

BL – Nov 2020 – L1 – SB – Q1d – Company Law

List powers exercised by the Annual General Meeting (AGM) of a company.

Question

One of the two organs of a company is the general meeting of members.

Required:
State FOUR powers of the Annual General Meeting.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual General Meeting, Company Law, Corporate Powers, Shareholder Rights
Level: Level 1

Topic: Company Law
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q6c – Partnership Law

Assess the legality of different partnership arrangements.

Question

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.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Charitable Purpose, Cooperative Society, Law Firm, Legal Entity, Minor Partnership, Partnership, Volunteers
Level: Level 1

Topic: Partnership Law
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q6b – Law of Contract

Define express terms, implied terms, conditions, and warranties in a contract.

Question

Contractual agreements usually contain terms that are different in nature and importance.

Required:
Define the following terms:
i. Express terms
ii. Implied terms
iii. Conditions
iv. Warranties

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conditions, Contract Terms, Express Terms, Implied Terms, Warranties
Level: Level 1

Topic: Law of Contract
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

Question

Taking or conversion with intent to defraud is an element of stealing.

Required:
State FIVE tests of determining whether or not an accused has an intention to steal at the time of taking or converting a thing.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conversion, Criminal Intent, Criminal Law, Fraud, Theft
Level: Level 1

Topic: The Nigerian Legal System
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q5d – Negotiable Instruments

Explain different cheque crossing types and define negotiable instruments.

Question

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.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Transactions, Cheques, Crossing, Negotiable Instruments, Payment Instructions
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2020

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

List the duties of an agent in an agency contract.

Question

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

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

Answer

Find Related Questions by Tags, levels, etc.

Tags: Agency, Agent Duties, Contractual Obligations, Principal-Agent Relationship
Level: Level 1

Topic: Agency Law
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q5b – Employment Law

Define an employment contract and list grounds for dismissal by an employer.

Question

Contracts of employment may be created and brought to an end in different ways.

Required:
i. Explain contract of employment.
ii. State THREE reasons for which an employer could dismiss an employee.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Employment Contract, Grounds for Dismissal, Labor Law, Termination
Level: Level 1

Topic: Employment law
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q5a – Alternative Dispute Resolution

Define arbitration and describe an arbitral award.

Question

Arbitration is a type of alternative dispute resolution mechanism.

Required:
Explain arbitration and arbitral award.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Alternative Dispute Resolution, Arbitral Award, Arbitration, Dispute Settlement
Level: Level 1

Topic: Alternative Dispute Resolution
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q4d – Law of Tort

List exceptions to the rule that all persons of full age can sue and be sued in tort.

Question

As a general rule, all persons of full age may sue and be sued in tort.

Required:
State FIVE exceptions to this general rule.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Legal Capacity, Legal Exceptions, Suing and Being Sued, Tort Law
Level: Level 1

Topic: Law of Tort
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q4c – Sale of Goods

List situations where a seller without title can pass good title to a buyer.

Question

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.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Buyer’s Rights, Good Title, Ownership Transfer, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2020

BL – Nov 2012 – L1 – SA – Q20 – Law of Trusts

Identify two certainties required for the creation of a valid trust.

Question

State any TWO certainties required for the creation of a valid trust.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Certainties, Law of Trusts, Trusts
Level: Level 1

Topic: Law of Trusts
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts

Identify the minimum number of persons required to witness a will.

Question

What is the minimum number of persons who must attest a will as witness(es)?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Attestation, Wills, Witnesses
Level: Level 1

Topic: Law of Trusts
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q18 – Law of Contract

Identify the type of acceptance subject to a condition.

Question

State the type of acceptance of a bill of exchange in which the bill is accepted “subject to the shipping vessel arriving from South Africa.”

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conditional Acceptance, Contracts
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q17 – Partnership Law

Identify the type of partnership that may exceed twenty members.

Question

Which type of partnership may have more than twenty members?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Large Entities, Partnerships
Level: Level 1

Topic: Partnership Law
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q16 – Company Law

Identify the legal term for the transfer of shares after a shareholder’s death.

Question

When a shareholder dies, what is the legal term by which his shares are vested in another person?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Shares, Transmission of Shares
Level: Level 1

Topic: Company Law
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q15 – Company Law

Identify the document sworn to by a legal practitioner for company registration.

Question

Name the incorporation document which a legal practitioner must swear to in order to effect the registration or incorporation of a company.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Incorporation, Legal Documents
Level: Level 1

Topic: Company Law
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q14 – Company Law

Identify the minimum authorized share capital for a private limited company.

Question

What is the minimum authorized Share Capital of a Private Limited Liability Company as prescribed by Companies and Allied Matters Act LFN 2004?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Share Capital
Level: Level 1

Topic: Company Law
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q13 – Company Law

Identify the principle that protects shareholders after full payment of shares.

Question

What principle states that once a member of a company has fully paid for his shares, he cannot generally be made liable for the indebtedness of the company again?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Structure, hareholder Liability
Level: Level 1

Topic: Company Law
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q12 – Company Law

Identify the type of fact in insurance contracts that influences the insurer’s decision.

Question

Which type of fact in insurance law is of such a nature that it may influence a prudent insurer in determining whether or not he will accept the risk and if so at what premium and on what conditions?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Insurance, Material Fact
Level: Level 1

Topic: Company Law
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q11 – Hire Purchase

Identify the goods covered under the Hire Purchase Act.

Question

State the type of goods to which the Hire Purchase Act is applicable irrespective of the amount involved.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Hire Purchase, Motor Vehicles
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2012

Subject: BUSINESS LAW

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

BL – Nov 2020 – L1 – SB – Q1d – Company Law

List powers exercised by the Annual General Meeting (AGM) of a company.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q1d – Company Law"

BL – Nov 2020 – L1 – SB – Q6c – Partnership Law

Assess the legality of different partnership arrangements.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q6c – Partnership Law"

BL – Nov 2020 – L1 – SB – Q6b – Law of Contract

Define express terms, implied terms, conditions, and warranties in a contract.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q6b – Law of Contract"

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System"

BL – Nov 2020 – L1 – SB – Q5d – Negotiable Instruments

Explain different cheque crossing types and define negotiable instruments.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q5d – Negotiable Instruments"

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

List the duties of an agent in an agency contract.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q5c – Agency Law"

BL – Nov 2020 – L1 – SB – Q5b – Employment Law

Define an employment contract and list grounds for dismissal by an employer.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q5b – Employment Law"

BL – Nov 2020 – L1 – SB – Q5a – Alternative Dispute Resolution

Define arbitration and describe an arbitral award.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q5a – Alternative Dispute Resolution"

BL – Nov 2020 – L1 – SB – Q4d – Law of Tort

List exceptions to the rule that all persons of full age can sue and be sued in tort.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q4d – Law of Tort"

BL – Nov 2020 – L1 – SB – Q4c – Sale of Goods

List situations where a seller without title can pass good title to a buyer.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q4c – Sale of Goods"

BL – Nov 2012 – L1 – SA – Q20 – Law of Trusts

Identify two certainties required for the creation of a valid trust.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q20 – Law of Trusts"

BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts

Identify the minimum number of persons required to witness a will.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q19 – Law of Trusts"

BL – Nov 2012 – L1 – SA – Q18 – Law of Contract

Identify the type of acceptance subject to a condition.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q18 – Law of Contract"

BL – Nov 2012 – L1 – SA – Q17 – Partnership Law

Identify the type of partnership that may exceed twenty members.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q17 – Partnership Law"

BL – Nov 2012 – L1 – SA – Q16 – Company Law

Identify the legal term for the transfer of shares after a shareholder’s death.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q16 – Company Law"

BL – Nov 2012 – L1 – SA – Q15 – Company Law

Identify the document sworn to by a legal practitioner for company registration.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q15 – Company Law"

BL – Nov 2012 – L1 – SA – Q14 – Company Law

Identify the minimum authorized share capital for a private limited company.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q14 – Company Law"

BL – Nov 2012 – L1 – SA – Q13 – Company Law

Identify the principle that protects shareholders after full payment of shares.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q13 – Company Law"

BL – Nov 2012 – L1 – SA – Q12 – Company Law

Identify the type of fact in insurance contracts that influences the insurer’s decision.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q12 – Company Law"

BL – Nov 2012 – L1 – SA – Q11 – Hire Purchase

Identify the goods covered under the Hire Purchase Act.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q11 – Hire Purchase"

Our offerings

Contact Info

Customer

Get In Touch

admin