JAMB Commerce questions: Elements of commercial law

15 questions with answers and explanations. Tap an option to check yourself.

1. Question 1· Elements of commercial law· JAMB

   Copyright protects

   • Abusiness premises
   • Binventions
   • Cbrand names
   • Dliterary and artistic works

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   Explanation and discussion

2. Question 2· Elements of commercial law· JAMB

   A contract under seal is also called

   • Aa simple contract
   • Ba specialty contract
   • Can oral contract
   • Da void contract

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   Explanation and discussion

3. Question 3· Elements of commercial law· JAMB

   Under a contract of agency, the person on whose behalf the agent acts is the

   • Afactor
   • Bbroker
   • Cprincipal
   • Ddebtor

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   Explanation and discussion

4. Question 4· Elements of commercial law· JAMB

   A void contract is one that

   • Ahas no legal effect from the start
   • Bis valid until cancelled
   • Cis binding
   • Dcan be enforced

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5. Question 5· Elements of commercial law· JAMB

   An offer can be terminated by

   • Asilence of the person receiving it
   • Brevocation before acceptance
   • Cthe offeror's clerk
   • Dan advertisement

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6. Question 6· Elements of commercial law· JAMB

   A person who is authorised to act on behalf of another in dealings with third parties is

   • Aa guarantor
   • Ba principal
   • Can agent
   • Da beneficiary

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7. Question 7· Elements of commercial law· JAMB

   For a contract to be valid, there must be offer, acceptance and

   • Aconsideration
   • Badvertisement
   • Ca lawyer
   • Da receipt

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8. Question 8· Elements of commercial law· JAMB

   Caveat emptor means

   • Agoods are free
   • Bthe seller is always liable
   • Clet the buyer beware
   • Dpay later

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   Explanation and discussion

9. Question 9· Elements of commercial law· JAMB

   The exclusive right given to an inventor to make and sell an invention for a fixed period is a

   • Apatent
   • Bcopyright
   • Ctrademark
   • Dfranchise

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10. Question 10· Elements of commercial law· JAMB

    Which of these persons lacks full capacity to enter into most contracts?

    • AA trader aged 35
    • BA retired civil servant
    • CA minor
    • DA company director

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11. Question 11· Elements of commercial law· JAMB

    A trademark protects

    • Aan invention
    • Ba distinctive name or logo of a product
    • Ca book
    • Da building design only

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12. Question 12· Elements of commercial law· JAMB

    In the sale of goods, the rule 'caveat emptor' means

    • Agoods are sold free
    • Blet the seller beware
    • Clet the buyer beware
    • Dpayment must be in advance

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13. Question 13· Elements of commercial law· JAMB

    A contract induced by misrepresentation is usually

    • Aillegal
    • Bvoid from the start
    • Cvalid and unchangeable
    • Dvoidable

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14. Question 14· Elements of commercial law· JAMB

    A trademark is

    • Aa distinctive sign identifying a firm's goods
    • Ba contract
    • Ca patent
    • Dan export licence

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15. Question 15· Elements of commercial law· JAMB

    A contract to commit a crime is

    • Avalid
    • Billegal and void
    • Cvoidable
    • Denforceable

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    Explanation and discussion