Agency Law – Page 8 – NBC Institute

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 – MAY 2016 – L1 – SA – Q13 – Agency Law

This question asks about circumstances under which an agency of necessity is created.

Question

Agency of necessity may be created in all the following circumstances EXCEPT where it is
A. An emergency
B. Impossible to communicate with the principal
C. To make secret profit
D. An action in good faith
E. To prevent irreparable loss

Answer

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Tags: Agency, Legal Circumstances, Necessity
Level: Level 1

Topic: Agency Law
Series: MAY 2016

BL – May 2024 – L1 – SA – Q12 – Agency Law

Identify the type of agency that arises in emergency situations or urgent commercial need.

Question

The agency relation that arises in emergencies or situations of urgent commercial need is agency of:

A. Ratification
B. Estoppel
C. Condonation
D. Necessity
E. Needs

Answer

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Tags: Agency, Agency of Necessity, Commercial Need
Level: Level 1

Topic: Agency Law
Series: MAY 2020

BL – May 2015 – L1 – SB – Q6b – Agency Law

Explain the role of a Del Credere agent in commercial transactions.

Question

There are different types of special agents.

Required:
Explain who a “Del Credere” agent is. (4 Marks)

Answer

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Tags: Agency, Commercial Law, Del Credere Agent
Level: Level 1

Topic: Agency Law
Series: MAY 2015

BL – May 2015 – L1 – SA – Q15 – Agency Law

Identify the parties involved in an agency relationship.

Question

An agency relationship involves the
A. Agent alone
B. Principal alone
C. Third party alone
D. Agent, principal, and the third party
E. Third party and the principal

Answer

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Tags: Agency Law, Agent, Principal
Level: Level 1

Topic: Agency Law
Series: MAY 2015

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.

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.

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

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

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

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

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

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

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.

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

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

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

Determine the number of parties involved in an agency relationship.

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.

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

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

BL – MAY 2016 – L1 – SA – Q13 – Agency Law

This question asks about circumstances under which an agency of necessity is created.

BL – May 2024 – L1 – SA – Q12 – Agency Law

Identify the type of agency that arises in emergency situations or urgent commercial need.

BL – May 2015 – L1 – SB – Q6b – Agency Law

Explain the role of a Del Credere agent in commercial transactions.

BL – May 2015 – L1 – SA – Q15 – Agency Law

Identify the parties involved in an agency relationship.

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

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

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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 – MAY 2016 – L1 – SA – Q13 – Agency Law

This question asks about circumstances under which an agency of necessity is created.

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BL – May 2024 – L1 – SA – Q12 – Agency Law

Identify the type of agency that arises in emergency situations or urgent commercial need.

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BL – May 2015 – L1 – SB – Q6b – Agency Law

Explain the role of a Del Credere agent in commercial transactions.

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BL – May 2015 – L1 – SA – Q15 – Agency Law

Identify the parties involved in an agency relationship.

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