Law of Contract – Page 4

BL – Nov 2020 – L1 – SB – Q6b – Law of Contract

Define express terms, implied terms, conditions, and warranties in a contract.

Question

Contractual agreements usually contain terms that are different in nature and importance.

Required:
Define the following terms:
i. Express terms
ii. Implied terms
iii. Conditions
iv. Warranties

Answer

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Tags: Conditions, Contract Terms, Express Terms, Implied Terms, Warranties
Level: Level 1

Topic: Law of Contract
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q4b – Law of Contract

Define material fact in insurance and list exceptions to disclosure duty.

Question

A contract of insurance is a contract of utmost good faith.

Required:
i. Explain briefly the term “material fact” in a contract of insurance.
ii. State THREE exceptions to the duty of disclosure of material facts.

Answer

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Tags: Disclosure Exceptions, Insurance Contract, Material Fact, Utmost Good Faith
Level: Level 1

Topic: Law of Contract
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q3b – Law of Contract

Explain the capacity of specific individuals to contract, focusing on drunkenness, insanity, and infant contracts.

Question

i. Capacity to contract is an important element of a legally enforceable contract.

Required:
Explain the capacity of the following persons to enter into a contract:

Drunken person
Insane person

ii. Explain a valid and binding contract on infants.
iii. Explain void contracts by infants.

Answer

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Tags: Binding Contracts, Capacity to Contract, Drunkenness, Infants, Insanity, Void Contracts
Level: Level 1

Topic: Law of Contract
Series: NOV 2020

BL – Nov 2020 – L1 – SB – Q3a – Law of Contract

Discuss how courts assess intent to create legal relations and advise on breach in social and commercial contexts.

Question

i. A contract may be enforced if the parties have an intention to enter into a legally enforceable agreement.

Required:
Explain ONE way by which the courts determine whether or not the parties to an agreement have an intention to create legal relations.

ii. Case Scenario:
‘A’ and ‘B’ entered into an agreement to meet at a gym for their daily physical fitness exercises. ‘B’ forgot about the agreement and kept ‘A’ waiting endlessly. ‘A’ is furious and intends to sue ‘B’ for breach of agreement.

Required:
Advise ‘A’, stating the legal issue involved.

iii. Case Scenario:
‘A’ is a dealer in textile materials. He sold ten bales of textile materials to ‘B,’ his childhood friend. ‘B’ has refused to pay for the ten bales of materials, arguing that he is a friend of ‘A.’

Required:
Advise ‘A,’ who intends to sue ‘B,’ stating the legal issue involved.

iv. Case Scenario:
‘A’ promised to attend a luncheon organized by ‘B.’ ‘B’ spent a lot of money to prepare for the luncheon. ‘A’ did not turn up as agreed. ‘B’ is aggrieved and intends to sue ‘A’ for the cost of the special dish.

Required:
Advise ‘B,’ stating the legal issues involved.

Answer

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Tags: Breach of Agreement, Commercial Agreements, Contract Law, Legal Intention, Social Agreements
Level: Level 1

Topic: Law of Contract
Series: NOV 2020

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 – SB – Q4B – Law of Contract

Explain the concept of undue influence in contract law.

Question

For a contract to be binding on all the parties to it, it must not be tainted by any vitiating element. Undue influence is one of such vitiating elements.
Required: Explain briefly undue influence as a vitiating element in a contract.

Answer

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Tags: Business Law, Contract Law, Vitiating Elements
Level: Level 1

Topic: Law of Contract
Series: MAY 2012

BL – May 2012 – L1 – SB – Q4A – Law of Contract

Advise on the implications of a contract entered into by a minor.

Question

Samuel, aged 16, is the son of Chief Luke Umeh, a multi-billionaire. Two weeks ago, Samuel drove his father’s 2011 model Jeep vehicle to a car exhibition. At the exhibition, he saw a year 2012 model of the same Jeep and entered into a contract with the manufacturers to buy two of the latest Jeep. The two Jeeps were delivered to Samuel and he drives them to his secondary school to impress his school mates. The manufacturers of the Jeep, Manny Auto Engineering Limited, requested payment for the Jeeps but Samuel refused to pay, claiming that he is an infant. The manufacturers are insisting on full payment for the vehicles by Chief Umeh.
Required: Advise the following parties on the implications of their actions:
(i) The manufacturers;
(ii) Samuel; and
(iii) Chief Luke Umeh.

Answer

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

Topic: Law of Contract
Series: MAY 2012

BL – May 2012 – L1 – SA – Q17 – Law of Contract

Identify the term for a claim based on the value of work done.

Question

A party to a contract who claims damages on the basis of work done or as much as he deserves, is said to be claiming on:

Answer

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Tags: Business Law, Contract Law, Quantum Meruit
Level: Level 1

Topic: Law of Contract
Series: MAY 2012

BL – May 2012 – L1 – SA – Q16 – Law of Contract

Identify the Latin term that means a person is not bound by a deed due to a misunderstanding.

Question

Non est factum means:

Answer

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Tags: Business Law, Contract Law, Non Est Factum
Level: Level 1

Topic: Law of Contract
Series: MAY 2012

BL – May 2012 – L1 – SA – Q15 – Law of Contract

Identify the term for withdrawing an offer before acceptance.

Question

Withdrawal of an offer before it is accepted is also known as:

Answer

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

Topic: Law of Contract
Series: MAY 2012

BL – Nov 2011 – L1 – SA – Q1 – Law of Contract

Identify the party in a contract of insurance that pays the premium for indemnity.

Question

In a contract of insurance, the party that pays the premium in return for the insurer’s promise of indemnity is the:
A. Insurance company
B. Insurer
C. Contractor
D. Insured
E. Third party

Answer

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Tags: Indemnity, Insurance Contract, Insured, Insurer, Premium Payment
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – Nov 2012 – L1 – SB – Q4B – Law of Contract

Discuss the role of an insurance agent and the concept of material facts in insurance contracts.

Question

Musa, an insurance agent employed by Baloon Insurance Limited, assisted Uche to complete an insurance policy proposal form.

Required:
i. Explain briefly whose agent Musa is in this situation. (2 Marks)
ii. Explain what is meant by “material fact” in relation to insurance contracts? (3 Mar

Answer

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Tags: Insurance Agents, Material Facts
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SB – Q4A – Law of Contract

Advise Onome regarding a life insurance policy under a common mistake.

Question

Chief Newton is responsible for the university education of Onome who then decides to insure Chief Newton’s life with Maxim Assurance Plc. The policy became effective on 2 March, but unknown to Onome and Maxim Plc, Chief Newton had died back in the village on 28 February.

Required:
Advise Onome as to whether or not she can sustain a claim under the policy, giving reasons for your advice.

Answer

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Tags: Common Mistake, Insurance
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SB – Q2C – Law of Contract

Explain three remedies for breach of contract.

Question

Explain briefly THREE remedies for breach of contract.

Answer

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Tags: Breach of Contract, Remedies
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SB – Q2B – Law of Contract

Advise on a contract involving an apprentice who is a minor.

Question

Johnson is 16 years old. He served as an apprentice barber at Okay Salon for two years. He paid the apprenticeship premium for only one year. Okay Salon wants to sue for the balance. Advise the parties.

Answer

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Tags: Contracts, Infants
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SB – Q2A – Law of Contract

Advise on the legal protection available to illiterates in contract agreements.

Question

Dickson is an illiterate. He entered into an agreement with Continental Bakery Limited to supply bags of flour at N15.00 per bag. Unknown to him, the written agreement, which he thumb-printed, read N10.00 per bag. He had supplied 1,000 bags for which the company wants to pay the price in the written contract. Advise Dickson in the circumstances.

Answer

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Tags: Contracts, Illiterates Protection
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q18 – Law of Contract

Identify the type of acceptance subject to a condition.

Question

State the type of acceptance of a bill of exchange in which the bill is accepted “subject to the shipping vessel arriving from South Africa.”

Answer

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Tags: Conditional Acceptance, Contracts
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q3 – Law of Contract

Identify the legal term for an auction sale.

Question

An advertisement of auction sale and request for bids is an example of ____________.

Answer

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Tags: Auction, Contracts, Invitation to Treat
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q9 – Law of Contract

Identify the remedy used to restrain a breach of contract.

Question

An order which the court grants to restrain a breach of contract is called:
A. Interim order
B. Interlocutory order
C. Injunction
D. Enforcement order
E. A sanction

Answer

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Tags: Contracts, Injunctions, Remedies
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q8 – Law of Contract

Identify which type of contract need not be in writing.

Question

Which of the following contracts needs NOT be in writing?
A. Contracts for the sale or disposition of land
B. Contracts for carriage of goods within the same town
C. Contracts to take a mortgage on a property
D. Contracts of guarantee
E. Moneylenders’ contracts

Answer

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Tags: Contracts of Guarantee, Written Contracts
Level: Level 1

Topic: Law of Contract
Series: NOV 2012

Topic: Law of Contract

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BL – Nov 2020 – L1 – SB – Q6b – Law of Contract

Define express terms, implied terms, conditions, and warranties in a contract.

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BL – Nov 2020 – L1 – SB – Q4b – Law of Contract

Define material fact in insurance and list exceptions to disclosure duty.

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BL – Nov 2020 – L1 – SB – Q3b – Law of Contract

Explain the capacity of specific individuals to contract, focusing on drunkenness, insanity, and infant contracts.

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BL – Nov 2020 – L1 – SB – Q3a – Law of Contract

Discuss how courts assess intent to create legal relations and advise on breach in social and commercial contexts.

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

Objective question on understanding the nature of legally enforceable agreements.

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BL – May 2012 – L1 – SB – Q4B – Law of Contract

Explain the concept of undue influence in contract law.

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BL – May 2012 – L1 – SB – Q4A – Law of Contract

Advise on the implications of a contract entered into by a minor.

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BL – May 2012 – L1 – SA – Q17 – Law of Contract

Identify the term for a claim based on the value of work done.

You're reporting an error for "BL – May 2012 – L1 – SA – Q17 – Law of Contract"

BL – May 2012 – L1 – SA – Q16 – Law of Contract

Identify the Latin term that means a person is not bound by a deed due to a misunderstanding.

You're reporting an error for "BL – May 2012 – L1 – SA – Q16 – Law of Contract"

BL – May 2012 – L1 – SA – Q15 – Law of Contract

Identify the term for withdrawing an offer before acceptance.

You're reporting an error for "BL – May 2012 – L1 – SA – Q15 – Law of Contract"

BL – Nov 2011 – L1 – SA – Q1 – Law of Contract

Identify the party in a contract of insurance that pays the premium for indemnity.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q1 – Law of Contract"

BL – Nov 2012 – L1 – SB – Q4B – Law of Contract

Discuss the role of an insurance agent and the concept of material facts in insurance contracts.

You're reporting an error for "BL – Nov 2012 – L1 – SB – Q4B – Law of Contract"

BL – Nov 2012 – L1 – SB – Q4A – Law of Contract

Advise Onome regarding a life insurance policy under a common mistake.

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BL – Nov 2012 – L1 – SB – Q2C – Law of Contract

Explain three remedies for breach of contract.

You're reporting an error for "BL – Nov 2012 – L1 – SB – Q2C – Law of Contract"

BL – Nov 2012 – L1 – SB – Q2B – Law of Contract

Advise on a contract involving an apprentice who is a minor.

You're reporting an error for "BL – Nov 2012 – L1 – SB – Q2B – Law of Contract"

BL – Nov 2012 – L1 – SB – Q2A – Law of Contract

Advise on the legal protection available to illiterates in contract agreements.

You're reporting an error for "BL – Nov 2012 – L1 – SB – Q2A – Law of Contract"

BL – Nov 2012 – L1 – SA – Q18 – Law of Contract

Identify the type of acceptance subject to a condition.

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BL – Nov 2012 – L1 – SA – Q3 – Law of Contract

Identify the legal term for an auction sale.

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BL – Nov 2012 – L1 – SA – Q9 – Law of Contract

Identify the remedy used to restrain a breach of contract.

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BL – Nov 2012 – L1 – SA – Q8 – Law of Contract

Identify which type of contract need not be in writing.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q8 – Law of Contract"

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