JAMB and WAEC Commerce questions: Elements of commercial law

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

1. Question 21· Elements of commercial law· WAEC

   A valid contract must have

   • Aa lawyer present
   • Bonly an offer
   • Coffer, acceptance and consideration
   • Da written document in every case

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   Explanation and discussion

2. Question 22· Elements of commercial law· WAEC

   Goods displayed in a shop window with price tags are

   • Aa binding offer
   • Ban invitation to treat
   • Can acceptance
   • Da completed contract

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   Explanation and discussion

3. Question 23· 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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   Explanation and discussion

4. Question 24· Elements of commercial law· WAEC

   A patent protects

   • Aa building
   • Ba song
   • Ca company name
   • Dan invention

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   Explanation and discussion

5. Question 25· Elements of commercial law· WAEC

   An essential element of a valid contract is

   • Aadvertisement
   • Boffer and acceptance
   • Can invoice
   • Da witness

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   Explanation and discussion

6. Question 26· Elements of commercial law· WAEC

   Consideration in a contract means

   • Aa legal penalty
   • Bthe written agreement
   • Ca court case
   • Dsomething of value given by each party

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   Explanation and discussion

7. Question 27· 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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   Explanation and discussion

8. Question 28· 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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   Explanation and discussion

9. Question 29· Elements of commercial law· WAEC

   A contract is

   • Aany promise between friends
   • Ba legally binding agreement between two or more parties
   • Ca social arrangement
   • Da type of tax

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   Explanation and discussion

10. Question 30· 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

11. Question 31· Elements of commercial law· WAEC

    The essential elements of a valid contract include

    • Adelivery only
    • Badvertisement and display
    • Cbargaining only
    • Doffer, acceptance and consideration

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    Explanation and discussion