Contract – NBC Institute

BL – Nov 2020 – L1 – SA – Q9 – Law of Contract

Objective question on understanding the nature of legally enforceable agreements.

Question

9. A voluntary agreement between two or more persons, which confers legally enforceable rights, duties, and liabilities on the parties is called a/an
A. Contract
B. Offer
C. Guarantee
D. Warranty
E. Condition

Answer

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Tags: Contract, Legal Agreement, Offer and Acceptance, Rights and Duties
Level: Level 1

Topic: Law of Contract
Series: NOV 2020

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

Find Related Questions by Tags, levels, etc.

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

Topic: Agency Law
Series: MAY 2012

BL – Nov 2011 – L1 – SB – Q3b – Hire Purchase and Consumer Credit Transactions

Defining a hire purchase agreement and explaining its essential features.

Question

Define “hire purchase agreement” and explain THREE of its essential features.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bailment, Contract, Hire Purchase, Property in Goods
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q17 – Law of Contract

Identifying the legal term for discharge of a contract due to supervening impossibility or illegality.

Question

Supervening impossibility or illegality of the performance of an obligation is a form of discharge of contract by ………………………………

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Discharge by Impossibility, Legal Impossibility
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q15 – Law of Contract

Identify the status of a contract that ought to be in writing but is not.

Question

A contract that ought to be in writing but is not, is:
A. Illegal
B. Void
C. Unenforceable
D. Unduly influenced
E. A deed

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Legal Status, Writing Requirement
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q3 – Law of Contract

Identify an example of a contract of utmost good faith.

Question

An example of a contract of utmost good faith is a contract of:
A. Hire purchase
B. Companies
C. Sale of goods
D. Insurance
E. Accountants

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Good Faith, Insurance, Legal Principle
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – May 2018 – L1 – SB – Q1 – Sources of Nigerian Law

Discuss sources of Nigerian law, and misrepresentation in contract law.

Question

a. The sources of Nigerian law are diverse, but all laws are interpreted by the courts.

Required:
(i) State the THREE types of Received English Law; (3 Marks)
(ii) State the parties to criminal proceedings and civil proceedings. (3 Marks)

b. A contract may possess all the elements of a valid agreement and still be unenforceable if such a contract is induced by a vitiating factor like misrepresentation.

Required:
(i) What is misrepresentation in contract? (2 Marks)
(ii) State TWO types of misrepresentation. (2 Marks)

c. Kofi bought a mobile phone from Adjua. Kofi later discovered that the phone was not functioning. Advise Kofi based on the following:
(i) When he was contemplating buying the phone, Adjua said it was in a perfect working condition, knowing this was untrue;
(ii) Adjua told Kofi that the mobile phone was in a perfect working condition, basing this comment on the users’ manual in the packet of the mobile phone;
(iii) Adjua is a GSM engineer but still told Kofi, who was relying on his expert advice, that the phone was in perfect condition. (6 Marks)

d. There are THREE conditions under which agency of necessity may arise.
Required:
State TWO of the conditions. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, English Law, Misrepresentation, Nigerian Law, Parties to Legal Proceedings
Level: Level 1

Topic: Sources of Nigerian Law
Series: MAY 2018

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

Question

A contract may be valid without consideration if it
A. Has exclusion term
B. Has warranty
C. Is by deed
D. Is implied
E. Is made express

Answer

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Tags: Consideration, Contract, Legal Requirements
Level: Level 1

Topic: Law of Contract
Series: MAY 2018

BL – May 2022 – L1 – SB – Q3c – Hire Purchase and Consumer Credit Transactions

State two rights of a hirer under a hire purchase contract.

Question

Bola has hired a car under a contract of hire purchase from CAB Car Rentals and wants to know if he has any rights under the contract.

Required:
State TWO rights of Bola under the contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Hire Purchase, Hirer's Rights
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2022

BL – Nov 2022 – L1 – SB – Q6c – Sale of Goods

Explaining the transfer of ownership in the sale of specific goods when no intention is expressed.

Question

The general rule under the Sale of Goods Act is that ownership in the goods passes when the parties intend.

Required:
Explain three circumstances for the transfer of ownership of specific goods where no intention of the parties appears in the contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Ownership, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2022

BL – Nov 2020 – L1 – SA – Q9 – Law of Contract

Objective question on understanding the nature of legally enforceable agreements.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Legal Agreement, Offer and Acceptance, Rights and Duties
Level: Level 1

Topic: Law of Contract
Series: NOV 2020

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

Find Related Questions by Tags, levels, etc.

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

Topic: Agency Law
Series: MAY 2012

BL – Nov 2011 – L1 – SB – Q3b – Hire Purchase and Consumer Credit Transactions

Defining a hire purchase agreement and explaining its essential features.

Question

Define “hire purchase agreement” and explain THREE of its essential features.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bailment, Contract, Hire Purchase, Property in Goods
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q17 – Law of Contract

Identifying the legal term for discharge of a contract due to supervening impossibility or illegality.

Question

Supervening impossibility or illegality of the performance of an obligation is a form of discharge of contract by ………………………………

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Discharge by Impossibility, Legal Impossibility
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q15 – Law of Contract

Identify the status of a contract that ought to be in writing but is not.

Question

A contract that ought to be in writing but is not, is:
A. Illegal
B. Void
C. Unenforceable
D. Unduly influenced
E. A deed

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Legal Status, Writing Requirement
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q3 – Law of Contract

Identify an example of a contract of utmost good faith.

Question

An example of a contract of utmost good faith is a contract of:
A. Hire purchase
B. Companies
C. Sale of goods
D. Insurance
E. Accountants

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Good Faith, Insurance, Legal Principle
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – May 2018 – L1 – SB – Q1 – Sources of Nigerian Law

Discuss sources of Nigerian law, and misrepresentation in contract law.

Question

a. The sources of Nigerian law are diverse, but all laws are interpreted by the courts.

Required:
(i) State the THREE types of Received English Law; (3 Marks)
(ii) State the parties to criminal proceedings and civil proceedings. (3 Marks)

b. A contract may possess all the elements of a valid agreement and still be unenforceable if such a contract is induced by a vitiating factor like misrepresentation.

Required:
(i) What is misrepresentation in contract? (2 Marks)
(ii) State TWO types of misrepresentation. (2 Marks)

d. There are THREE conditions under which agency of necessity may arise.
Required:
State TWO of the conditions. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, English Law, Misrepresentation, Nigerian Law, Parties to Legal Proceedings
Level: Level 1

Topic: Sources of Nigerian Law
Series: MAY 2018

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

Question

A contract may be valid without consideration if it
A. Has exclusion term
B. Has warranty
C. Is by deed
D. Is implied
E. Is made express

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consideration, Contract, Legal Requirements
Level: Level 1

Topic: Law of Contract
Series: MAY 2018

BL – May 2022 – L1 – SB – Q3c – Hire Purchase and Consumer Credit Transactions

State two rights of a hirer under a hire purchase contract.

Question

Bola has hired a car under a contract of hire purchase from CAB Car Rentals and wants to know if he has any rights under the contract.

Required:
State TWO rights of Bola under the contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Hire Purchase, Hirer's Rights
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2022

BL – Nov 2022 – L1 – SB – Q6c – Sale of Goods

Explaining the transfer of ownership in the sale of specific goods when no intention is expressed.

Question

The general rule under the Sale of Goods Act is that ownership in the goods passes when the parties intend.

Required:
Explain three circumstances for the transfer of ownership of specific goods where no intention of the parties appears in the contract.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract, Ownership, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2022

Question Tag: Contract

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BL – Nov 2020 – L1 – SA – Q9 – Law of Contract

Objective question on understanding the nature of legally enforceable agreements.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q9 – Law of Contract"

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

Determine the number of parties involved in an agency relationship.

You're reporting an error for "BL – May 2012 – L1 – SA – Q13 – Agency Law"

BL – Nov 2011 – L1 – SB – Q3b – Hire Purchase and Consumer Credit Transactions

Defining a hire purchase agreement and explaining its essential features.

You're reporting an error for "BL – Nov 2011 – L1 – SB – Q3b – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2011 – L1 – SA – Q17 – Law of Contract

Identifying the legal term for discharge of a contract due to supervening impossibility or illegality.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q17 – Law of Contract"

BL – Nov 2011 – L1 – SA – Q15 – Law of Contract

Identify the status of a contract that ought to be in writing but is not.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q15 – Law of Contract"

BL – Nov 2011 – L1 – SA – Q3 – Law of Contract

Identify an example of a contract of utmost good faith.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q3 – Law of Contract"

BL – May 2018 – L1 – SB – Q1 – Sources of Nigerian Law

Discuss sources of Nigerian law, and misrepresentation in contract law.

You're reporting an error for "BL – May 2018 – L1 – SB – Q1 – Sources of Nigerian Law"

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

You're reporting an error for "BL – May 2018 – L1 – SA – Q11 – Law of Contract"

BL – May 2022 – L1 – SB – Q3c – Hire Purchase and Consumer Credit Transactions

State two rights of a hirer under a hire purchase contract.

You're reporting an error for "BL – May 2022 – L1 – SB – Q3c – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2022 – L1 – SB – Q6c – Sale of Goods

Explaining the transfer of ownership in the sale of specific goods when no intention is expressed.

You're reporting an error for "BL – Nov 2022 – L1 – SB – Q6c – Sale of Goods"

BL – Nov 2020 – L1 – SA – Q9 – Law of Contract

Objective question on understanding the nature of legally enforceable agreements.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q9 – Law of Contract"

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

Determine the number of parties involved in an agency relationship.

You're reporting an error for "BL – May 2012 – L1 – SA – Q13 – Agency Law"

BL – Nov 2011 – L1 – SB – Q3b – Hire Purchase and Consumer Credit Transactions

Defining a hire purchase agreement and explaining its essential features.

You're reporting an error for "BL – Nov 2011 – L1 – SB – Q3b – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2011 – L1 – SA – Q17 – Law of Contract

Identifying the legal term for discharge of a contract due to supervening impossibility or illegality.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q17 – Law of Contract"

BL – Nov 2011 – L1 – SA – Q15 – Law of Contract

Identify the status of a contract that ought to be in writing but is not.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q15 – Law of Contract"

BL – Nov 2011 – L1 – SA – Q3 – Law of Contract

Identify an example of a contract of utmost good faith.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q3 – Law of Contract"

BL – May 2018 – L1 – SB – Q1 – Sources of Nigerian Law

Discuss sources of Nigerian law, and misrepresentation in contract law.

You're reporting an error for "BL – May 2018 – L1 – SB – Q1 – Sources of Nigerian Law"

BL – May 2018 – L1 – SA – Q11 – Law of Contract

Identify when a contract may be valid without consideration.

You're reporting an error for "BL – May 2018 – L1 – SA – Q11 – Law of Contract"

BL – May 2022 – L1 – SB – Q3c – Hire Purchase and Consumer Credit Transactions

State two rights of a hirer under a hire purchase contract.

You're reporting an error for "BL – May 2022 – L1 – SB – Q3c – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2022 – L1 – SB – Q6c – Sale of Goods

Explaining the transfer of ownership in the sale of specific goods when no intention is expressed.

You're reporting an error for "BL – Nov 2022 – L1 – SB – Q6c – Sale of Goods"

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