Jamb Commerce Past Questions and Answers

Question 31:

• JAMB 1994

Which of the following must be present in an agency by agreement?

A. Intentions
B. Will
C. Consent
D. Authority

Question 32:

• 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 33:

• 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 34:

• JAMB 1994

Nationalization of an industry means that its ownership becomes that of

A. Government
B. Shareholders
C. Taxpayers
D. Indigenes

Question 35:

• JAMB 1994

The comprehensive import supervision scheme was set up by the federal government in order to

A. Reverse Nigeria's unfavourable balance of trade
B. Promote fair trade between Nigeria and other countries
C. Counteract all fraudulent business deals of Nigeria with other nationals
D. Ensue that import into Nigeria are of the correct quality, value and quantity