Meaning and validity of a simple contract - Jamb Commerce Past Questions and Answers

Question 6:

• JAMB 1994

An agreement to sell is distinguishable from sale because in the former, the transfer of goods is

A. Not anticipated
B. Not discussed
C. Deferred
D. Immediate

Question 7:

• JAMB 1994

Mr Amusa says to Mr Bello 'i will sell you this hat for N30'. And Mr Bello replied 'i will pay N29'. The contract is

A. An offer and acceptance
B. An implied contract
C. A complete simple contract
D. An offer but no acceptance

Question 8:

• JAMB 1998

Sabo and Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo. Before the date the date of delivery and without any default by Gambo, the tomatoes were stolen. This is an example of termination of contract by

A. Breach
B. Performance
C. Fault
D. Frustration

Question 9:

• JAMB 1998

A minor is not permitted to enter into a valid contract because he

A. Cannot pay the consideration
B. Is too young to interpret the law
C. Is young in the eye of the law
D. May not be able to write the contract

Question 10:

• JAMB 1998

A person who is cheated in business transaction can seek legal remedy

A. Even if the agreement is verbal and the amount involved is large
B. Only if the business is a sole proprietorship whose owner is known
C. Regardless of the form of business organization
D. Only if the transaction is documented in a contract