Waec Commerce 1991 Past Questions and Answers

Question 96:

• WAEC 1991

Who is liable for the contact entered into by the agent on behalf of his principal? The

A. Agent
B. Principal
C. Agent and the principal
D. Third party
E. Lawyer who drew up the agreement

Question 97:

• WAEC 1991

An agreement whereby the seller transfers the title to goods at a price is called?

A. Contract of sale
B. A hire-purchase agreement
C. An agency agreement
D. A contract of carriage of goods
E. Haggling

Question 98:

• WAEC 1991

The reward of land as a factor of production is known as?

A. Interest
B. Rent
C. Profit
D. Wages
E. Toll

Question 99:

• WAEC 1991

The reward of land as a factor of production is known as?

A. Interest
B. Rent
C. Profit
D. Wages
E. Toll

Question 100:

• WAEC 1991

The outright purchase of one company by another is called?

A. Absorption
B. Merger
C. Cartel
D. Acquisition
E. Privatization