BUSINESS LAW – Page 8

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 – May 2012 – L1 – SA – Q6 – Sale of Goods

Identify the type of goods yet to be grown, manufactured, or acquired by the seller.

Question

The type of goods which is to be grown, manufactured, identified, and agreed upon or acquired by the seller after making the contract for the sale of goods is known as:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Future Goods, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: MAY 2012

BL – May 2012 – L1 – SA – Q5 – Agency Law

Identify the type of agency created in an emergency without instructions.

Question

The type of agency which is created in an emergency without the opportunity to contact the principal and get his instruction is called:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Agency Law, Business Law, Emergency
Level: Level 1

Topic: Agency Law
Series: MAY 2012

BL – May 2012 – L1 – SA – Q4 – Law of Contract

Identify the type of mistake where parties are mistaken about different things.

Question

The type of mistake which the parties to a contract make when they are mistaken about different things is referred to as:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Contract Law, Mistake
Level: Level 1

Topic: Law of Contract
Series: MAY 2012

BL – May 2012 – L1 – SA – Q3 – Law of Contract

Identify the term in a contract that is fundamental to the agreement.

Question

State the term of a contract which is fundamental and goes to the root of the contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Contract Law, Fundamental Terms
Level: Level 1

Topic: Law of Contract
Series: MAY 2012

BL – May 2012 – L1 – SA – Q2 – Law of Tort

Identify the term for a master's liability for the servant's wrongdoing.

Question

The tort that makes a master liable for the wrong of his servant is called:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Tort Law, Vicarious Liability
Level: Level 1

Topic: Law of Tort
Series: MAY 2012

BL – May 2012 – L1 – SA – Q1 – Sources of Nigerian Law

Identify the official name of a law passed by the National Assembly and signed by the President.

Question

State the official name of a law which is made by the National Assembly and signed by the President.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Legislation, National Assembly, Nigerian Law
Level: Level 1

Topic: Sources of Nigerian Law
Series: MAY 2012

BL – May 2012 – L1 – SA – Q20 – Law Relating to Banking

Identify the legal term for the state taking possession of a debtor's property.

Question

The proceedings whereby the State takes over the possession of the property of a debtor and distributes them among persons whom the debtor owes money is known as:

A. Bankruptcy
B. Matrimonial causes proceedings
C. Lifting the veil proceedings
D. Garnishee proceedings
E. Binding over proceedings

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Business Law, Proceedings
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2012

BL – May 2012 – L1 – SA – Q19 – Negotiable Instruments

Identify the document used to secure payment in commercial transactions.

Question

The documents that are used in commercial and financial transactions to secure payment of money are:

A. ATM Cards
B. Bills of Lading
C. Payment Vouchers
D. Negotiable Instruments
E. Credit Cards

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Commercial Law, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: MAY 2012

BL – May 2012 – L1 – SA – Q18 – Law Relating to Banking

Identify the primary duty of an auditor in a company.

Question

The duty of an auditor of a company is to:

A. Examine the books of accounts of a company and express his opinion thereon
B. Verify the financial statements on payment of salaries and allowances
C. Verify the financial statements on monthly imprests and express reservation
D. Verify the financial aspects of contracts to be awarded by the company
E. Audit the company based on its internal control system

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditor Duties, Business Law, Corporate Governance
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2012

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

Identify the usual range of membership in a general partnership.

Question

The membership of a general partnership is usually from:

A. Two to twenty persons
B. Two to twenty-five persons
C. One to thirty persons
D. One to twenty-five persons
E. Three to twenty-five persons

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Membership, Partnership
Level: Level 1

Topic: Partnership Law
Series: MAY 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 – May 2012 – L1 – SA – Q6 – Sale of Goods

Identify the type of goods yet to be grown, manufactured, or acquired by the seller.

You're reporting an error for "BL – May 2012 – L1 – SA – Q6 – Sale of Goods"

BL – May 2012 – L1 – SA – Q5 – Agency Law

Identify the type of agency created in an emergency without instructions.

You're reporting an error for "BL – May 2012 – L1 – SA – Q5 – Agency Law"

BL – May 2012 – L1 – SA – Q4 – Law of Contract

Identify the type of mistake where parties are mistaken about different things.

You're reporting an error for "BL – May 2012 – L1 – SA – Q4 – Law of Contract"

BL – May 2012 – L1 – SA – Q3 – Law of Contract

Identify the term in a contract that is fundamental to the agreement.

You're reporting an error for "BL – May 2012 – L1 – SA – Q3 – Law of Contract"

BL – May 2012 – L1 – SA – Q2 – Law of Tort

Identify the term for a master's liability for the servant's wrongdoing.

You're reporting an error for "BL – May 2012 – L1 – SA – Q2 – Law of Tort"

BL – May 2012 – L1 – SA – Q1 – Sources of Nigerian Law

Identify the official name of a law passed by the National Assembly and signed by the President.

You're reporting an error for "BL – May 2012 – L1 – SA – Q1 – Sources of Nigerian Law"

BL – May 2012 – L1 – SA – Q20 – Law Relating to Banking

Identify the legal term for the state taking possession of a debtor's property.

You're reporting an error for "BL – May 2012 – L1 – SA – Q20 – Law Relating to Banking"

BL – May 2012 – L1 – SA – Q19 – Negotiable Instruments

Identify the document used to secure payment in commercial transactions.

You're reporting an error for "BL – May 2012 – L1 – SA – Q19 – Negotiable Instruments"

BL – May 2012 – L1 – SA – Q18 – Law Relating to Banking

Identify the primary duty of an auditor in a company.

You're reporting an error for "BL – May 2012 – L1 – SA – Q18 – Law Relating to Banking"

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

Identify the usual range of membership in a general partnership.

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

Our offerings

Contact Info

Customer

Get In Touch

admin