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.
A director is not entitled to remuneration unless it is authorized by which of the following documents?
A. The memorandum of association
B. The directors’ manual
C. The company’s handbook
D. The articles of association
E. The shareholders’ book
Find Related Questions by Tags, levels, etc.
An undischarged bankrupt is NOT legally incapacitated to do ONE of the following:
A. To marry a wife
B. To be elected into an elective office
C. To be appointed to or to act in the office of a Justice of Peace
D. To be appointed as a trustee of a trust estate
E. To be admitted to serve on a governing board of a statutory institution
Find Related Questions by Tags, levels, etc.
Which of the following circumstances will NOT terminate the banker’s authority to honor a customer’s cheque?
A. Notice of lunacy of the customer
B. Notice of presentation of a bankruptcy petition against the customer
C. Notice of an accident in which the customer is involved
D. Assignment of the balance in his account by the customer
E. Where the customer’s credit balance in the bank is insufficient to cover the cheque
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Which of the following information is NOT among the particulars required for the registration of a partnership?
A. The firm’s name
B. The general nature of the business
C. The full name of each partner
D. The details of each partner’s bank account
E. The principal place of business
Find Related Questions by Tags, levels, etc.
The Memorandum of Association of a company limited by shares must contain all the following EXCEPT:
A. The marital status of the subscribers
B. The name of the company with “Limited” as the last word
C. That the registered office of the company will be situated in Nigeria
D. The objects of the company
E. That the liability of the members is limited
Find Related Questions by Tags, levels, etc.
Which of the following is the meaning of re-insurance?
A. The insurer insures the insurer’s assets
B. The insurer’s registration with the office of the Commissioner for Insurance
C. A reinsurance, effected by an insurer, on the same risk which was before insured, to indemnify the insurer
D. A new insurance with the government of the Federation
E. The insurer’s insurance with a foreign insurer
Find Related Questions by Tags, levels, etc.
Which of the following is NOT a duty of the hirer?
A. To accept delivery of the goods
B. To ensure that he gives a weekly report to the seller
C. To take reasonable care of the goods
D. To pay the installments when due
E. To redeliver the goods to the owner or his agent, upon the termination of the hire purchase contract
Find Related Questions by Tags, levels, etc.
Which of the following is a description of existing goods?
A. Goods that existed before the contract of sale
B. Goods which the manufacturers had agreed to produce for the seller
C. Goods that the buyer had identified in the market
D. Goods owned or possessed by the seller at the time of sale
E. Goods which the government has classified as marketable
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