Sale of Goods – Page 3 – NBC Institute

BL – Nov 2020 – L1 – SB – Q4c – Sale of Goods

List situations where a seller without title can pass good title to a buyer.

Question

In sale of goods law, a buyer could acquire ownership of goods only if the seller had title to such goods.

Required:
State FIVE instances where a seller who has no title could pass a good title to the buyer in a sale of goods transaction.

Answer

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Tags: Buyer’s Rights, Good Title, Ownership Transfer, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2020

BL – Nov 2020 – L1 – SA – Q12 – Sale of Goods

Objective question identifying a type of sale where property is transferred immediately and unconditionally.

Question

12. A contract of sale of goods in which property in the goods is transferred immediately and unconditionally is a/an
A. Outright sale
B. Conditional sale
C. Credit sale
D. Hire purchase
E. Consumer sale

Answer

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Tags: Contract Types, Outright Sale, Property Transfer, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2020

BL – May 2012 – L1 – SA – Q6 – Sale of Goods

Identify the type of goods yet to be grown, manufactured, or acquired by the seller.

Question

The type of goods which is to be grown, manufactured, identified, and agreed upon or acquired by the seller after making the contract for the sale of goods is known as:

Answer

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Tags: Business Law, Future Goods, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: MAY 2012

BL – May 2012 – L1 – SA – Q14 – Sale of Goods

Determine when the risk in goods transfers from seller to buyer in a sale of goods contract.

Question

In an agreement for the sale of goods, the risk remains with the seller until:

A. Sale is completed
B. Goods are inspected to the satisfaction of the buyer
C. Final payment is made by the buyer
D. Cost, insurance, and freight are paid for
E. Bill of lading is signed by the seller

Answer

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Tags: Business Law, Contracts, Risk, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: MAY 2012

BL – Nov 2011 – L1 – SB – Q3a – Sale of Goods

Identifying three classifications of goods under the Sale of Goods Act.

Question

Explain THREE classifications of goods under the Sale of Goods Act.

Answer

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Tags: Future Goods, Sale of Goods, Specific Goods, Unascertained Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q18 – Sale of Goods

Understanding when goods identified at the time of the contract of sale are transferred.

Question

Goods identified and agreed upon at the time of contract of sale is …………………………

Answer

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Tags: Agreement to Sale, Sale of Goods, Transfer of Property
Level: Level 1

Topic: Sale of Goods
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q19 – Sale of Goods

Understanding when property passes in unascertained goods.

Question

Property will not pass in unascertained goods until the goods are ……………………………

Answer

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Tags: Sale of Goods, Transfer of Property, Unascertained Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2011

BL – Nov 2012 – L1 – SA – Q10 – Sale of Goods

Identify the type of goods subject to a contract of sale.

Question

Goods which may be subject matter of a contract of sale of goods may be either existing goods or

Answer

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Tags: Contracts, Future Goods, Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q9 – Sale of Goods

Identify the legal maxim for the right of an unpaid seller.

Question

What is the legal maxim for the right of an unpaid seller of goods to retake and retain possession of the goods which are still on the way to the buyer?

Answer

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Tags: Sale of Goods, Seller’s Rights
Level: Level 1

Topic: Sale of Goods
Series: NOV 2012

BL – Nov 2012 – L1 – SA – Q11 – Sale of Goods

Identify the description of existing goods.

Question

Which of the following is a description of existing goods?
A. Goods that existed before the contract of sale
B. Goods which the manufacturers had agreed to produce for the seller
C. Goods that the buyer had identified in the market
D. Goods owned or possessed by the seller at the time of sale
E. Goods which the government has classified as marketable

Answer

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

Topic: Sale of Goods
Series: NOV 2012

BL – Nov 2015 – L1 – SA – Q17 – Sale of Goods

Identifying non-implied conditions in Sales of Goods transactions.

Question

Which of the following is NOT an implied condition or warranty in Sales of Goods transactions?
A. Title
B. Time
C. Sale by sample
D. Customs and traditional usage
E. Fitness of purpose

Answer

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Tags: Implied Conditions, Legal Warranties, Multiple Choice, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2015

BL – May 2018 – L1 – SA – Q14 – Sale of Goods

Identify when property in unascertained goods passes to the buyer.

Question

Property in unascertained goods passes when the goods are
A. Produced
B. Ascertained
C. In the warehouse
D. Packaged
E. In transit

Answer

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Tags: Sale of Goods, Transfer of Property
Level: Level 1

Topic: Sale of Goods
Series: MAY 2018

BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

Question

i. Upon incorporation, a company enjoys a corporate personality, separate from its owners.
Required:
Explain any TWO conditions under which the veil of incorporation of a company may be lifted.
(5 Marks)

ii. Parties to a sale of goods transaction owe certain duties under the law.
Required:
Explain any TWO duties of a seller in a sale of goods contract.
(5 Marks)

Answer

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Tags: Corporate Personality, Sale of Goods, Seller’s Duties, Veil of Incorporation
Level: Level 1

Topic: Sale of Goods
Series: NOV 2014

BL – Nov 2014 – L1 – SA – Q16 – Sale of Goods

Identify the item that is not considered "goods" under the Sale of Goods Act.

Question

In Sale of Goods Act, goods include the following EXCEPT
A. Ships
B. Aeroplanes
C. Tubers of yam
D. Chattels
E. Money

Answer

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Tags: Goods Definition, Legal Exemptions, Sale of Goods Act
Level: Level 1

Topic: Sale of Goods
Series: NOV 2014

BL – Nov 2021 – L1 – SB – Q5c – Sale of Goods

insurance policy assignment

Question

An insurance policy creates rights in favour of the contracting parties, which are assignable.

Required:
i. Explain briefly ‘assignment of insurance policy’ and a situation in which an assignment of insurance becomes a legal assignment (2 Marks).
ii. Why is it not possible to transfer the rights in an insurance policy by delivery, and when is a marine insurance policy not assignable? (3 Marks)

Answer

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Tags: Insurance Law
Level: Level 1

Topic: Sale of Goods
Series: NOV 2021

BL – Nov 2021 – L1 – SB – Q5a – Sale of Goods

Examining contractual issues in sales agreements

Question

Christopher and Uche signed a sale agreement for goods, which were in Christopher’s showroom specifically identified as 20 cartons of tomato puree. The parties agreed that Uche would take delivery at Christopher’s shop with his truck, which Uche did, but before getting to his store, the truck fell into a ditch, and the goods were all destroyed. Uche has refused to pay the price on the ground that the goods did not get to him.

Required:
i. What kind of goods is the subject of the agreement? (1 Mark)
ii. Advise Christopher under the Sale of Goods Act of his rights, explaining briefly who should bear the loss. (4 Marks)

Answer

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Tags: Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2021

BL – Nov 2021 – L1 – SA – Q14 – Sale of Goods

Determining the meaning of “delivery” in the sale of goods.

Question

In a sale of goods, the seller is under a duty to deliver the goods to the buyer. The delivery means
A. Transfer of ownership to the buyer
B. Transfer of possession to the buyer
C. Transfer of possession and ownership to the buyer
D. Collection of the goods by the buyer
E. Demand of the goods by the buyer

Answer

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Tags: Delivery, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: NOV 2021

BL – May 2022 – L1 – SB – Q2c – Sale of Goods

State six exceptions to the rule that only the owner of goods can transfer property in them to a third party.

Question

Generally, only the owner of goods can validly transfer property or ownership in them to a third party.

Required:
State SIX exceptions to the preceding rule of sale of goods.

Answer

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Tags: Exceptions, Ownership Transfer, Sale of Goods
Level: Level 1

Topic: Sale of Goods
Series: MAY 2022

FA – Nov 2021 – L1 – SA – Q12 – Sale of Goods

This question tests knowledge of the source document used for the sales day book.

Question

A source document for the sales day book is:
A. An invoice
B. Cheque stub
C. A customer advice
D. A credit advice
E. A requisition form

Answer

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Tags: Multiple Choice, Sales Day Book, Source Documents
Level: Level 1

Topic: Sale of Goods
Series: NOV 2021

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

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

Topic: Sale of Goods
Series: NOV 2022

Topic: Sale of Goods

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BL – Nov 2020 – L1 – SB – Q4c – Sale of Goods

List situations where a seller without title can pass good title to a buyer.

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BL – Nov 2020 – L1 – SA – Q12 – Sale of Goods

Objective question identifying a type of sale where property is transferred immediately and unconditionally.

You're reporting an error for "BL – Nov 2020 – L1 – SA – Q12 – Sale of Goods"

BL – May 2012 – L1 – SA – Q6 – Sale of Goods

Identify the type of goods yet to be grown, manufactured, or acquired by the seller.

You're reporting an error for "BL – May 2012 – L1 – SA – Q6 – Sale of Goods"

BL – May 2012 – L1 – SA – Q14 – Sale of Goods

Determine when the risk in goods transfers from seller to buyer in a sale of goods contract.

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BL – Nov 2011 – L1 – SB – Q3a – Sale of Goods

Identifying three classifications of goods under the Sale of Goods Act.

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BL – Nov 2011 – L1 – SA – Q18 – Sale of Goods

Understanding when goods identified at the time of the contract of sale are transferred.

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BL – Nov 2011 – L1 – SA – Q19 – Sale of Goods

Understanding when property passes in unascertained goods.

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BL – Nov 2012 – L1 – SA – Q10 – Sale of Goods

Identify the type of goods subject to a contract of sale.

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BL – Nov 2012 – L1 – SA – Q9 – Sale of Goods

Identify the legal maxim for the right of an unpaid seller.

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BL – Nov 2012 – L1 – SA – Q11 – Sale of Goods

Identify the description of existing goods.

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BL – Nov 2015 – L1 – SA – Q17 – Sale of Goods

Identifying non-implied conditions in Sales of Goods transactions.

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BL – May 2018 – L1 – SA – Q14 – Sale of Goods

Identify when property in unascertained goods passes to the buyer.

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BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods

Explain two conditions for lifting the corporate veil and two duties of a seller in a sale of goods contract.

You're reporting an error for "BL – Nov 2014 – L1 – SB – Q4c – Sale of Goods"

BL – Nov 2014 – L1 – SA – Q16 – Sale of Goods

Identify the item that is not considered "goods" under the Sale of Goods Act.

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BL – Nov 2021 – L1 – SB – Q5c – Sale of Goods

insurance policy assignment

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BL – Nov 2021 – L1 – SB – Q5a – Sale of Goods

Examining contractual issues in sales agreements

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BL – Nov 2021 – L1 – SA – Q14 – Sale of Goods

Determining the meaning of “delivery” in the sale of goods.

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BL – May 2022 – L1 – SB – Q2c – Sale of Goods

State six exceptions to the rule that only the owner of goods can transfer property in them to a third party.

You're reporting an error for "BL – May 2022 – L1 – SB – Q2c – Sale of Goods"

FA – Nov 2021 – L1 – SA – Q12 – Sale of Goods

This question tests knowledge of the source document used for the sales day book.

You're reporting an error for "FA – Nov 2021 – L1 – SA – Q12 – Sale of Goods"

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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