Sale of Goods – Knowsia

BCL – L1 – SA – Q54 – Contract Law

Nature of promises in a cash sale of goods.

Question

Sale of goods for cash is an example of

A mutual and independent promises

B mutual and dependent promises

C mutual and concurrent promises

D conditional and dependent promises

Answer

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Tags: Cash Transactions, Contract Law, Mutual Promises, Sale of Goods
Level: Level 1

Topic: Contract Law

BCL – L1 – SA – Q39 – Sale of Goods

Classification of contingent goods.

Question

Contingent goods belong to ____ goods?

A. Existing

B. Future

C. Contingent

D. None of these

Answer

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Tags: Contingent Goods, Contract Terms, Sale of Goods
Level: Level 1

Topic: Sale of Goods

BCL – L1 – SA – Q27 – Contract Law

Which contracts fall under the statute of frauds?

Question

In most states the following types of contracts are within the statute of frauds:
A Contracts for the sale of an interest in personal property.
B Contracts that can be performed within a year from the date of their formation.
C Contracts for the sale of goods.
D Contracts for the sale of goods for a price of $500 or more.

Answer

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Tags: Contract Law, Sale of Goods, Statute of Frauds, UCC
Level: Level 1

Topic: Contract Law

BCL – L1 – Q41 – Sale of Goods

List four timelines under the Sale of Goods Act, 1962, for seller's delivery obligations.

Question

List FOUR (4) timelines under the Sale of Goods Act, 1962 (Act 137), within which a seller must deliver goods to the buyer.

Answer

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Tags: Contract Law, Delivery Timelines, Sale of Goods, Seller Obligations
Level: Level 1

Topic: Sale of Goods

BCL – L1 – Q40 – Sale of Goods/Hire Purchase

Explain hire purchase and implications of a buyer's death in a credit sale.

Question

PREMIUM GH. LTD

Premium Gh. Ltd entered into an agreement with the Controller and Accountant General’s Department, by which monies were deducted at source on the salaries of workers who had benefited from its Christmas credit sales scheme by way of Hire Purchase. Unfortunately, Mr. Yaw got infected with a virus and passed away shortly after enjoying the credit sales.

Required:

You are the only law student in the accounts department, and your boss has asked you to:

(a) Explain the nature of a Hire Purchase arrangement and the implication of Mr. Yaw’s death.

(b) In TWO (2) ways, differentiate between a Hire Purchase and a Deferred Payment.

Answer

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Tags: Contract Law, Deferred Payment, Hire Purchase, Sale of Goods
Level: Level 1

Topic: Sale of Goods/Hire Purchase

BCL – L1 – Q39 – Negotiable Instruments

Explain bills of exchange, holder in due course, and promissory notes.

Question

NEGOTIABLE INSTRUMENTS

(a) Explain the following terms:

(i) Bills of Exchange,

(ii) Holder in due course,

(iii) Promissory Notes

(b) You have been engaged as the Accounts Officer of a supermarket in Accra and the manager will like you to explain to him what is meant by Conditional Sale and Protected Goods under Hire Purchase Agreements.

Answer

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Tags: Conditional Sale, Hire Purchase, Protected Goods, Sale of Goods
Level: Level 1

Topic: Sale of Goods/Hire Purchase

BCL – L1 – Q22 – Legal Terms

Explain legal terms: Capacity, Acceptance, Misrepresentation, Goods, and Quantum Meruit in business law.

Question

Explain the following terms as used in the legal business environment:

(a) Capacity

(b) Acceptance

(d) Goods

(e) Quantum Meruit

Answer

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Tags: Acceptance, Capacity, Contract Law, Goods, Misrepresentation, Quantum Meruit, Sale of Goods
Level: Level 1

Topic: Sale of Goods

BCL – L1 – Q14 – Contract Law

State the legal effect of PrimeRock Ltd's actions in accepting a tender for bulldozers.

Question

A Company known as PrimeRock Ltd, invited tenders for the supply of 2000 bulldozers to be delivered within seven months. Daniel put in a tender stating that he is prepared to supply the bulldozers at fifty thousand Ghana Cedis (GHS $50,000.00). The company accepted the tender by a letter, and subsequently gave various orders which were executed by Daniel. The Director of Finance claims there is no valid agreement to support the payments.

Required:

(a) State briefly the legal effect of the company’s actions.

(b) State THREE (3) things that are required of a wary contracting party.

Answer

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Tags: Caveat Emptor, Caveat Venditor, Contract Law, Due diligence, Sale of Goods
Level: Level 1

Topic: Contract Law

Tag (SQ): Sale of Goods

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BCL – L1 – SA – Q54 – Contract Law

Nature of promises in a cash sale of goods.

BCL – L1 – SA – Q39 – Sale of Goods

Classification of contingent goods.

BCL – L1 – SA – Q27 – Contract Law

Which contracts fall under the statute of frauds?

BCL – L1 – Q41 – Sale of Goods

List four timelines under the Sale of Goods Act, 1962, for seller's delivery obligations.

BCL – L1 – Q40 – Sale of Goods/Hire Purchase

Explain hire purchase and implications of a buyer's death in a credit sale.

BCL – L1 – Q39 – Negotiable Instruments

Explain bills of exchange, holder in due course, and promissory notes.

BCL – L1 – Q22 – Legal Terms

Explain legal terms: Capacity, Acceptance, Misrepresentation, Goods, and Quantum Meruit in business law.

BCL – L1 – Q14 – Contract Law

State the legal effect of PrimeRock Ltd's actions in accepting a tender for bulldozers.

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BCL – L1 – SA – Q54 – Contract Law

Nature of promises in a cash sale of goods.

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BCL – L1 – SA – Q39 – Sale of Goods

Classification of contingent goods.

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BCL – L1 – SA – Q27 – Contract Law

Which contracts fall under the statute of frauds?

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BCL – L1 – Q41 – Sale of Goods

List four timelines under the Sale of Goods Act, 1962, for seller's delivery obligations.

You're reporting an error for "BCL – L1 – Q41 – Sale of Goods"

BCL – L1 – Q40 – Sale of Goods/Hire Purchase

Explain hire purchase and implications of a buyer's death in a credit sale.

You're reporting an error for "BCL – L1 – Q40 – Sale of Goods/Hire Purchase"

BCL – L1 – Q39 – Negotiable Instruments

Explain bills of exchange, holder in due course, and promissory notes.

You're reporting an error for "BCL – L1 – Q39 – Negotiable Instruments"

BCL – L1 – Q22 – Legal Terms

Explain legal terms: Capacity, Acceptance, Misrepresentation, Goods, and Quantum Meruit in business law.

You're reporting an error for "BCL – L1 – Q22 – Legal Terms"

BCL – L1 – Q14 – Contract Law

State the legal effect of PrimeRock Ltd's actions in accepting a tender for bulldozers.

You're reporting an error for "BCL – L1 – Q14 – Contract Law"

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