JAMB and WAEC Commerce questions: Elements of commercial law

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

All topics Advertising and marketing · 32 Business management and environment · 32 Commerce and its scope · 31 Communication · 33 Computers and ICT in business · 29 Consumer protection · 30 Documents used in trade · 34 Elements of commercial law · 31 Financing a business · 32 Foreign trade · 40 Forms of business organisation · 40 Home trade: retail and wholesale · 40 Insurance · 39 Money and banking · 40 Occupation and production · 33 The stock exchange · 34 Transport · 33 Warehousing · 28

Question 1· Elements of commercial law· JAMB
Copyright protects
Explanation and discussion
Question 2· Elements of commercial law· WAEC
A display of goods with price tags in a shop is
Explanation and discussion
Question 3· Elements of commercial law· WAEC
Under the Sale of Goods Act, goods must be of merchantable quality, meaning they
Explanation and discussion
Question 4· Elements of commercial law· WAEC
Agency is a relationship in which
Explanation and discussion
Question 5· Elements of commercial law· WAEC
Ada promises to sell her phone to Musa for ₦50,000. The ₦50,000 is the
Explanation and discussion
Question 6· Elements of commercial law· JAMB
A contract under seal is also called
Explanation and discussion
Question 7· Elements of commercial law· JAMB
Under a contract of agency, the person on whose behalf the agent acts is the
Explanation and discussion
Question 8· Elements of commercial law· JAMB
A void contract is one that
Explanation and discussion
Question 9· Elements of commercial law· WAEC
In an agency relationship, the person who appoints an agent is the
Explanation and discussion
Question 10· Elements of commercial law· WAEC
An agent who guarantees payment for goods sold on credit is a
Explanation and discussion
Question 11· Elements of commercial law· JAMB
An offer can be terminated by
Explanation and discussion
Question 12· Elements of commercial law· WAEC
An agreement made with a person of unsound mind is generally
Explanation and discussion
Question 13· Elements of commercial law· WAEC
In the sale of goods, 'caveat emptor' means
Explanation and discussion
Question 14· Elements of commercial law· JAMB
A person who is authorised to act on behalf of another in dealings with third parties is
Explanation and discussion
Question 15· Elements of commercial law· JAMB
For a contract to be valid, there must be offer, acceptance and
Explanation and discussion
Question 16· Elements of commercial law· JAMB
Caveat emptor means
Explanation and discussion
Question 17· Elements of commercial law· WAEC
A contract made by a minor for necessities is
Explanation and discussion
Question 18· Elements of commercial law· JAMB
The exclusive right given to an inventor to make and sell an invention for a fixed period is a
Explanation and discussion
Question 19· Elements of commercial law· JAMB
Which of these persons lacks full capacity to enter into most contracts?
Explanation and discussion
Question 20· Elements of commercial law· JAMB
A trademark protects
Explanation and discussion

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JAMB and WAEC Commerce questions: Elements of commercial law

Copyright protects

A display of goods with price tags in a shop is

Under the Sale of Goods Act, goods must be of merchantable quality, meaning they

Agency is a relationship in which

Ada promises to sell her phone to Musa for ₦50,000. The ₦50,000 is the

A contract under seal is also called

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

A void contract is one that

In an agency relationship, the person who appoints an agent is the

An agent who guarantees payment for goods sold on credit is a

An offer can be terminated by

An agreement made with a person of unsound mind is generally

In the sale of goods, 'caveat emptor' means

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

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

Caveat emptor means

A contract made by a minor for necessities is

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

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

A trademark protects