Most of the legal systems have their origins in ancient customs of the nation. Customs could therefore be said to be the oldest source of law. However, in order to gain recognition and enforcement by the courts, the particular custom Read More …
Category: A CPA Business Law/Commercial Law Revision Question and Answers
CPA Business Law/Commercial Law Revision Question and Answers
Law is described as a body of rules for guidance of human conduct which is imposed upon and enforced among the citizens of the state. Discuss
Law is described as a body of rules for guidance of human conduct which is imposed upon and enforced among the citizens of the state. Discuss ANSWER This exposition of the term law captures its essential ingredients, namely that it Read More …
In relation to the law of Succession, explain the factors that he court will consider when making provisions for dependants not provided for in a will
In relation to the law of Succession, explain the factors that he court will consider when making provisions for dependants not provided for in a will ANSWER The nature and amount of the deceased property Any past, present or future, Read More …
Explain the legal principles that govern double insurance of goods
Explain the legal principles that govern double insurance of goods ANSWER Double insurance is a situation where an insured takes out more than one policy on the same subject matter and risk with different insurers but where the total sums Read More …
Outline four duties of a common carrier
Outline four duties of a common carrier ANSWER To accept and carry goods of any person on payment of the reasonable charges of hire, provided there is room in his vehicle. But he is not bound to transport such goods Read More …
In relation to the Law of Contract, explain six ways in which a contract may be discharged
In relation to the Law of Contract, explain six ways in which a contract may be discharged. ANSWER Discharge by agreement: A contract is discharged by agreement when the parties thereto agree to discharge it. It is justified on the Read More …
Explain four types of endorsement that may be made on a bill of exchange
Explain four types of endorsement that may be made on a bill of exchange ANSWER Blank endorsement: This is an endorsement which does not specify the person to whom or to whose order the bill is payable. It’s effect is Read More …
In relation to the Law of Contract Explain five essentials of a valid contract
In relation to the Law of Contract Explain five essentials of a valid contract ANSWER Offer: An offer has been defined as unequivocal manifestation by a party of its intention to contract with another party. It is clear intimation of Read More …
In relation to the Law of Agency, explain five circumstances under which an agent may be held personally liable to third parties
In relation to the Law of Agency, explain five circumstances under which an agent may be held personally liable to third parties ANSWER If the principal does not exist or has no capacity. If he expressly or impliedly personal liability. Read More …
In relation to the Sale of Goods Act: i) Explain four rules that govern delivery of goods. ii) Outline the circumstances under which the unpaid seller may exercise his right of lien.
In relation to the Sale of Goods Act: i) Explain four rules that govern delivery of goods. ii) Outline the circumstances under which the unpaid seller may exercise his right of lien. ANSWER i) Four rules that govern delivery of Read More …