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Find Related Questions by Tags, levels, etc.
Adzoe acting for and on behalf of Maclean, was authorized to purchase corn worth Two Thousand Ghana Cedis (GH¢2,000) for Makafui. Adzoe bought the corn in Makafui’s name at Two Thousand Five Hundred Ghana Cedis (GH¢2,500), which was clearly beyond his authority. Maclean was to ratify. Makafui then failed to take delivery of the corn.
Required:
i) Explain whether Maclean would be justified in ratifying the transaction entered by Adzoe and Makafui. (6 marks)
ii) Explain the concept of “Agency of necessity”. (4 marks)
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Jabi is a partner of an Accounting Firm. The firm’s office is located in Accra. In May 2019, Jabi was assigned an approved accounting duty outside Accra with the use of the Firm’s car. During the journey, the car had a burst tyre. The driver of the car, for unexplained reasons, had no spare tyre on the car. He therefore recommended the purchase of a brand new tyre, which Jabi bought with his personal money. He obtained a receipt in the name of the Firm.
Jabi sought for a refund of his money amounting to GH¢1,280 for the tyres bought. The Managing Partner refused the refund, saying it was the sole responsibility of Jabi to bear the expenditure.
Required:
i) Advise the Manager as to why the Firm should bear the full or part of the cost and not only Jabi.
(4 marks)
ii) Advise Jabi why it is not the sole responsibility of the firm to bear the cost.
(6 marks)
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Yaa Konadu purchased a car from Kofi Apenteng. Two months later, it was discovered that the car was stolen property before it was acquired by Apenteng, and both parties were innocent. Konadu had to give back the car through the police. Apenteng had no title to pass on, so Konadu sued him for the refund of the whole of her money despite the fact that she had used the car for two months.
Required: a) Explain if the object of the sale of the car was met for either Yaa Konadu or Kofi Apenteng.
(4 marks)
b) Advise the parties.
(6 marks)
c) Explain FOUR (4) duties of an agent to his principal.
(10 marks)
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Fiko in Cape Coast appointed Pinfa at Takoradi (Cape Coast and Takoradi all in the Republic of Ghana) as his agent. Pinfa had the authority to contract with farmers for the cultivation and supply of tiger nuts on his behalf. While the agency relationship exists, Pinfa contracted with Agya Anto for the supply of 10 bags of tiger nuts without disclosing the existence of the agency relationship with Agya Anto.
Required:
i) Has Fiko any right to step in the contract between Pinfa and Agya Anto? (4 marks)
ii) Has Agya Anto any available right in his contract with Pinfa while he (Pinfa’s) agency with Fiko exists? (3 marks)
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a) Cho instructs his agent Duu to sell his car. Cho decided to pay GH¢5,000 as commission to Duu on completion of the sale. Duu sold the car and was accordingly paid the commission of GH¢5,000. Cho then immediately found that the purchaser of the car had also paid a bribe of GH¢2,500, which Duu did not disclose.
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Eddie is the manager of A-LIFE shopping mall owned by Bertha. In January he is told by Bertha not to buy biscuit from a new company called Crunch Ltd, because she has heard that their products are of poor quality.
On 18th February, Christa, a representative of Crunch Ltd, visits the A-LIFE shopping mall, and as a result, Eddie orders 10,000 cedis worth of biscuits. Christa is unaware of Bertha’s instructions.
When later in the day Bertha discovers what Eddie has done, they have arguments, and Eddie resigns. The following day Eddie goes to Drinkit Ltd, Bertha’s regular supplier of wine and spirit, and purchases 10 cases of whisky on credit in Bertha’s name. He then absconds with the whisky.
Bertha comes to seek your advice as to her liability to:
a. Crunch Ltd; (10 marks)
b. Drinkit Ltd. (10 marks)
(Total=20 marks)
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a) Who is a general agent? (2 marks)
b) Who is a special agent? (2 marks)
c) Kaku had been a driver of a cargo vehicle. He loaded his vehicle with goods at Tamale for an owner resident in Takoradi. The cargo was a mix of tubers of yam, bags of charcoal, watermelon, and tomatoes. In the course of the journey and while still far away from Takoradi, the vehicle broke down in the vicinity of a small town. The driver did all that he could to reach the owner of the goods by telephone and other means. He was, however, not successful. He therefore disposed of all the goods by sale on the third day.
Required:
i) Explain the effect of the sale of the watermelon, tomatoes, the yams, and the bags of charcoal on the agency relationship. (10 marks)
ii) What are protected goods in the sense of hire purchase? (6 marks)
(Total: 20 marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Adzoe acting for and on behalf of Maclean, was authorized to purchase corn worth Two Thousand Ghana Cedis (GH¢2,000) for Makafui. Adzoe bought the corn in Makafui’s name at Two Thousand Five Hundred Ghana Cedis (GH¢2,500), which was clearly beyond his authority. Maclean was to ratify. Makafui then failed to take delivery of the corn.
Required:
i) Explain whether Maclean would be justified in ratifying the transaction entered by Adzoe and Makafui. (6 marks)
ii) Explain the concept of “Agency of necessity”. (4 marks)
Find Related Questions by Tags, levels, etc.
Jabi is a partner of an Accounting Firm. The firm’s office is located in Accra. In May 2019, Jabi was assigned an approved accounting duty outside Accra with the use of the Firm’s car. During the journey, the car had a burst tyre. The driver of the car, for unexplained reasons, had no spare tyre on the car. He therefore recommended the purchase of a brand new tyre, which Jabi bought with his personal money. He obtained a receipt in the name of the Firm.
Jabi sought for a refund of his money amounting to GH¢1,280 for the tyres bought. The Managing Partner refused the refund, saying it was the sole responsibility of Jabi to bear the expenditure.
Required:
i) Advise the Manager as to why the Firm should bear the full or part of the cost and not only Jabi.
(4 marks)
ii) Advise Jabi why it is not the sole responsibility of the firm to bear the cost.
(6 marks)
Find Related Questions by Tags, levels, etc.
Yaa Konadu purchased a car from Kofi Apenteng. Two months later, it was discovered that the car was stolen property before it was acquired by Apenteng, and both parties were innocent. Konadu had to give back the car through the police. Apenteng had no title to pass on, so Konadu sued him for the refund of the whole of her money despite the fact that she had used the car for two months.
Required: a) Explain if the object of the sale of the car was met for either Yaa Konadu or Kofi Apenteng.
(4 marks)
b) Advise the parties.
(6 marks)
c) Explain FOUR (4) duties of an agent to his principal.
(10 marks)
Find Related Questions by Tags, levels, etc.
Fiko in Cape Coast appointed Pinfa at Takoradi (Cape Coast and Takoradi all in the Republic of Ghana) as his agent. Pinfa had the authority to contract with farmers for the cultivation and supply of tiger nuts on his behalf. While the agency relationship exists, Pinfa contracted with Agya Anto for the supply of 10 bags of tiger nuts without disclosing the existence of the agency relationship with Agya Anto.
Required:
i) Has Fiko any right to step in the contract between Pinfa and Agya Anto? (4 marks)
ii) Has Agya Anto any available right in his contract with Pinfa while he (Pinfa’s) agency with Fiko exists? (3 marks)
Find Related Questions by Tags, levels, etc.
a) Cho instructs his agent Duu to sell his car. Cho decided to pay GH¢5,000 as commission to Duu on completion of the sale. Duu sold the car and was accordingly paid the commission of GH¢5,000. Cho then immediately found that the purchaser of the car had also paid a bribe of GH¢2,500, which Duu did not disclose.
Find Related Questions by Tags, levels, etc.
Eddie is the manager of A-LIFE shopping mall owned by Bertha. In January he is told by Bertha not to buy biscuit from a new company called Crunch Ltd, because she has heard that their products are of poor quality.
On 18th February, Christa, a representative of Crunch Ltd, visits the A-LIFE shopping mall, and as a result, Eddie orders 10,000 cedis worth of biscuits. Christa is unaware of Bertha’s instructions.
When later in the day Bertha discovers what Eddie has done, they have arguments, and Eddie resigns. The following day Eddie goes to Drinkit Ltd, Bertha’s regular supplier of wine and spirit, and purchases 10 cases of whisky on credit in Bertha’s name. He then absconds with the whisky.
Bertha comes to seek your advice as to her liability to:
a. Crunch Ltd; (10 marks)
b. Drinkit Ltd. (10 marks)
(Total=20 marks)
Find Related Questions by Tags, levels, etc.
a) Who is a general agent? (2 marks)
b) Who is a special agent? (2 marks)
c) Kaku had been a driver of a cargo vehicle. He loaded his vehicle with goods at Tamale for an owner resident in Takoradi. The cargo was a mix of tubers of yam, bags of charcoal, watermelon, and tomatoes. In the course of the journey and while still far away from Takoradi, the vehicle broke down in the vicinity of a small town. The driver did all that he could to reach the owner of the goods by telephone and other means. He was, however, not successful. He therefore disposed of all the goods by sale on the third day.
Required:
i) Explain the effect of the sale of the watermelon, tomatoes, the yams, and the bags of charcoal on the agency relationship. (10 marks)
ii) What are protected goods in the sense of hire purchase? (6 marks)
(Total: 20 marks)
Find Related Questions by Tags, levels, etc.
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