Legal Aspects of Business - Jamb Commerce Past Questions and Answers

Question 41:

• JAMB 1999

In a hire purchase agreement between Argungu Ltd and Maikudi, Argungu Ltd inserted provision that it can enter Maikudi’s premises at any time and remove the hired vehicle for any breach. This provision is

A. Lawful to both
B. Unlawful to both
C. Beneficial to both
D. Detrimental to both

Question 42:

• JAMB 1999

In every simple contract, the price which is paid to purchase a promise is called

A. Offeree
B. Acceptance
C. Consideration
D. Representation

Question 43:

• JAMB 1999

The main thrust of government policy of evolving good business environment in Nigeria is the need

A. To attract local and foreign investors
B. For more export commodities
C. For consumer oriented products
D. To have viable local markets

Question 44:

• JAMB 2000

Government policies relating to the establishment and operation of business are targeted at

A. Increasing the profit of business owners
B. The general improvement of the economy
C. Even spread of facilities and employment
D. Diversification and expansion of business

Question 45:

• JAMB 2000

The basic elements of a valid contract are

A. Offer, acceptance, consideration and witness
B. Offer, intention, acceptance and legality
C. Offer, acceptance, intention, capacity and legality
D. Offer, acceptance, capacity, legality and consideration