Legal Aspects of Business - Jamb Commerce Past Questions and Answers

Question 31:

• JAMB 1998

An agent must not make any secret profit in the performance of his duties but can be rewarded by his principal through

A. Remuneration and indemnity
B. Payments of commision and salary
C. Granting of business concessions
D. Forwarding of business links

Question 32:

• 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 33:

• 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 34:

• 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

Question 35:

• JAMB 1998

An example of a consumer protection agency is the?

A. Nigeria Bar association
B. Nigeria Medical Association
C. Ferderal Environmental Protection Agency
D. Manufacturers Association of Nigeria