Agency Law – Page 3

BCL – Nov 2024 – L1 – Q4a – Agency of Necessity

Legal implications of an agent acting in necessity during a curfew.

Question

Ozoozo is a cargo driving agent of Oforiwa, a trader. Ozoozo loaded a truck of yam from Kutunada for delivery to Oforiwa in Accra. In the course of the journey and at Butako township, a curfew was imposed as a result of chieftaincy issues in the traditional area. He tried to communicate with Oforiwa but he was unable to do so due to network challenges. Ozoozo found it useful to off-load the cargo of yam and dispose of it by sale. He accounted for the sale but Oforiwa became furious.

Required:
Advise Oforiwa.

Answer

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Tags: Agency Law, Commercial Transactions, Emergency Contracts, Necessity Doctrine, Principal-Agent Relationship
Level: Level 1

Topic: Agency Law
Series: Nov 2024

BMIS-Nov-2024-L1-Q2b- Economic Factors Influencing Business Opportunities and Threats

Economic factors that shape business opportunities or threats based on the PEST model.

Question

Explain THREE economic factors which determine the nature of opportunities or threats that organisations may face.

Answer

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Tags: Business Strategies, Economic Factors, Macro-Environment, Opportunities, PEST, Threats
Level: Level 1

Topic: Agency Law
Series: Nov 2024

BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

Question

10. The right of an agent to be reimbursed for expenses incurred in performing his authorised duties is called
A. Remuneration
B. Compensation
C. Indemnity
D. Salary
E. Commission

Answer

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Tags: Agency Law, Agent Rights, Compensation, Indemnity, Reimbursement
Level: Level 1

Topic: Agency Law
Series: NOV 2020

BL – May 2012 – L1 – SB – Q5B – Agency Law

State two differences between a hire purchase agreement and a sale agreement.

Question

A hire purchase agreement and a sale agreement are similar but not identical. Required: State any TWO differences between a hire purchase agreement and a sale agreement.

Answer

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Tags: Business Law, Contract Law, Hire Purchase
Level: Level 1

Topic: Agency Law
Series: MAY 2012

BL – May 2012 – L1 – SB – Q5A – Agency Law

Advise KMS and Stella on the legal implications of Stella's actions.

Question

Stella works as a sales girl for Kampus Multipurpose Stores (KMS), operated by Lucas on the University Campus. Recently, Lucas discovered that whenever he was not around, Stella would pack Lucas’ wares off the shelves and display her own wares on the shelves. Thus, Stella used her employer’s time, resources and facilities to sell her own wares in place of her employer’s. The financial books of KMS were audited last month and the audit revealed that on some occasions, Stella sold her employer’s wares at a higher rate than that recommended and she pocketed the difference. Required: Advise the following parties on the legal implications of their actions: (i) KMS (5 Marks) (ii) Stella (6 Marks)

Answer

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

Topic: Agency Law
Series: MAY 2012

BL – May 2012 – L1 – SB – Q2B – Agency Law

Advise on the steps to take in running the estate of a deceased person who died intestate.

Question

Mr. Chris died without leaving a Will. His dependants have approached you to advise them on the steps to take in running his estate. Advise them.

Answer

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Tags: Business Law, Estate Management, Intestacy
Level: Level 1

Topic: Agency Law
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

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

Topic: Agency Law
Series: MAY 2012

BL – May 2012 – L1 – SA – Q13 – Agency Law

Determine the number of parties involved in an agency relationship.

Question

An agency relationship is one involving:

A. A single party
B. Two parties
C. Three parties
D. Four parties
E. Five parties

Answer

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

Topic: Agency Law
Series: MAY 2012

BL – Nov 2011 – L1 – SB – Q1 – Agency Law

The question explores the principle of agency by estoppel, doctrine of binding precedent, vicarious liability, and definitions of intestacy and trust.

Question

Yomi, the son of a school proprietor, often visited his father’s office to spend some hours. Although never given authority to do so, he sometimes assisted in accepting payments from and issued receipts to students, and always handed over the money to the Bursar. However, he failed to account for the payment he received from Kola, a student, whom the school eventually declared as still owing. The school proprietor argued that Yomi had no authority to collect money from students on behalf of the school.

(a) Outline the legal positions of Yomi, Kola, and the school. (5 Marks)

(b) Explain the doctrine of binding precedent and state TWO instances when the Court of Appeal will NOT be bound by its own previous decisions. (4 Marks)

(d) Define (i) Intestacy and (ii) Trust. (2 Marks)

Answer

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Tags: Agency by Estoppel, Intestacy, Judicial Precedent, Trust Law, Vicarious Liability
Level: Level 1

Topic: Agency Law
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q15 – Agency Law

Identifying the person responsible for getting in and distributing the assets of a bankrupt individual.

Question

Who is usually appointed for the purpose of getting in and distributing the assets of a bankrupt?

Answer

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Tags: Assets, Bankruptcy, Trustee
Level: Level 1

Topic: Agency Law
Series: NOV 2011

BL – Nov 2015 – L2 – SB – Q6d – Agency Law

List four types of agents involved in agency relationships.

Question

Agency relationships are important for effective national and transnational commercial transactions. The categories of agencies are as diverse as the categories of available businesses.

Required:

State FOUR types of agents.
(4 Marks)

Answer

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Tags: Agency Relationships, Commercial Transactions, Types of Agents
Level: Level 1

Topic: Agency Law
Series: NOV 2015

BL – May 2014 – L1 – SA – Q12 – Agency Law

Identifying the main types of securities issued by public limited companies.

Question

Company securities which public limited companies issue to raise capital for their operations are mainly shares and ____________.

Answer

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Tags: Public Companies, Securities, Shares
Level: Level 1

Topic: Agency Law
Series: MAY 2014

BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying the minimum share capital requirement for life insurance business.

Question

An insurer cannot carry on life insurance business if its share capital is less than ____________.

Answer

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Tags: Insurance, Life Insurance, Share Capital
Level: Level 1

Topic: Agency Law
Series: MAY 2014

BL – May 2014 – L1 – SA – Q7 – Agency Law

Identifying the type of agent with implied authority to sell goods in their possession.

Question

An agent in whose possession goods are put with an implied authority to sell them is a ____________.

Answer

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Tags: Agents, Authority, Possession
Level: Level 1

Topic: Agency Law
Series: MAY 2014

BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying a contractual arrangement with periodic premium payments.

Question

The only type of contractual arrangement in which one party pays premium periodically to the other party is:
A. Contract of lottery
B. Landlord-tenant contract
C. Contract between Estate Agents and Tenants
D. Contract of insurance
E. Non-insurable contract

Answer

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Tags: Contract Types, Insurance, Premiums
Level: Level 1

Topic: Agency Law
Series: MAY 2014

BL – May 2014 – L1 – SA – Q7 – Agency Law

Determining the extent of an agent’s apparent authority.

Question

An agent has apparent authority to bind:
A. The third party
B. The principal
C. The whole company
D. The whole wide world
E. Himself

Answer

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Level: Level 1

Topic: Agency Law
Series: MAY 2014

BL – Nov 2013 – L1 – SB – Q6b – Agency Law

Stating three acts of bankruptcy for which proceedings may be instituted.

Question

A debtor who could not pay his debts or meet his legal financial obligations may be insolvent.

You are required to:
State THREE acts of bankruptcy for which bankruptcy proceedings may be instituted against a debtor.

Answer

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Tags: Bankruptcy, Insolvency, Legal Financial Obligations
Level: Level 1

Topic: Agency Law
Series: NOV 2013

BL – Nov 2013 – L1 – SB – Q3b – Agency Law

Stating five different types of agents recognized under the law of agency.

Question

In modern society, no one person can do all things. Therefore, power or authority to act has to be given to other persons to act or do certain things on behalf of another. As such, agents must be appointed one way or the other.

You are required to:
State FIVE types of agents under the law of agency.

Answer

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Tags: Law of Agency, Legal Authority, Types of Agents
Level: Level 1

Topic: Agency Law
Series: NOV 2013

BL – Nov 2013 – L1 – SB – Q1b – Agency Law

Advising on employer's liability when an employee causes injury during unauthorized activity.

Question

Anjori Engineering Company Limited has a bus that conveys its staff to work, and employed Okan as the driver of the bus. It is clearly written on the bus that non-staff passengers are not allowed on board. Okan, on his way to work one morning, used the company’s bus to convey non-staff passengers and had an accident with the bus, injuring some of the passengers. Efe, one of the non-staff passengers, threatens to sue Anjori Engineering Company Limited for damages for the injury he suffered as a result of the accident.

You are required to:
Advise Anjori Engineering Company Limited, stating the applicable principle of law.

Answer

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Tags: Employer's Responsibility, Legal Liability, Vicarious Liability
Level: Level 1

Topic: Agency Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q11 – Agency Law

Identifies the court that has jurisdiction to wind up a company.

Question

An agent owes _____________________ to his principal.

Answer

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Tags: Company Law, Court Jurisdiction, Short Answer, Winding-up
Level: Level 1

Topic: Agency Law
Series: NOV 2013

Topic: Agency Law

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BCL – Nov 2024 – L1 – Q4a – Agency of Necessity

Legal implications of an agent acting in necessity during a curfew.

You're reporting an error for "BCL – Nov 2024 – L1 – Q4a – Agency of Necessity"

BMIS-Nov-2024-L1-Q2b- Economic Factors Influencing Business Opportunities and Threats

Economic factors that shape business opportunities or threats based on the PEST model.

You're reporting an error for "BMIS-Nov-2024-L1-Q2b- Economic Factors Influencing Business Opportunities and Threats"

BL – Nov 2020 – L1 – SA – Q10 – Agency Law

Objective question on the right of an agent to be reimbursed for expenses incurred in duty.

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BL – May 2012 – L1 – SB – Q5B – Agency Law

State two differences between a hire purchase agreement and a sale agreement.

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BL – May 2012 – L1 – SB – Q5A – Agency Law

Advise KMS and Stella on the legal implications of Stella's actions.

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BL – May 2012 – L1 – SB – Q2B – Agency Law

Advise on the steps to take in running the estate of a deceased person who died intestate.

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

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

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BL – May 2012 – L1 – SA – Q13 – Agency Law

Determine the number of parties involved in an agency relationship.

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BL – Nov 2011 – L1 – SB – Q1 – Agency Law

The question explores the principle of agency by estoppel, doctrine of binding precedent, vicarious liability, and definitions of intestacy and trust.

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BL – Nov 2011 – L1 – SA – Q15 – Agency Law

Identifying the person responsible for getting in and distributing the assets of a bankrupt individual.

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BL – Nov 2015 – L2 – SB – Q6d – Agency Law

List four types of agents involved in agency relationships.

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BL – May 2014 – L1 – SA – Q12 – Agency Law

Identifying the main types of securities issued by public limited companies.

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BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying the minimum share capital requirement for life insurance business.

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BL – May 2014 – L1 – SA – Q7 – Agency Law

Identifying the type of agent with implied authority to sell goods in their possession.

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BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying a contractual arrangement with periodic premium payments.

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BL – May 2014 – L1 – SA – Q7 – Agency Law

Determining the extent of an agent’s apparent authority.

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BL – Nov 2013 – L1 – SB – Q6b – Agency Law

Stating three acts of bankruptcy for which proceedings may be instituted.

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BL – Nov 2013 – L1 – SB – Q3b – Agency Law

Stating five different types of agents recognized under the law of agency.

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BL – Nov 2013 – L1 – SB – Q1b – Agency Law

Advising on employer's liability when an employee causes injury during unauthorized activity.

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BL – Nov 2013 – L1 – SA – Q11 – Agency Law

Identifies the court that has jurisdiction to wind up a company.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q11 – Agency Law"

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