CLL307 Tma Solutions
1. a compulsory contribution to the support of government levied on persons property, income, commodities, transactions, etc, now at a fixed rate proportionate to the amount on which the contributions is levied. This refers to
—>> Tax
Bill of exchange
Proportional Tax
Tithes
2. Under __________of the Sale of Goods Act, where the buyer wrongfully neglects or refuses to accept and pay for the goods, the seller will have an action for damages for non acceptance
Section 40(1)
Section 50(2)
—>> Section 50(1)
All of the above
3. Any situation in which a seller who is a non-owner, or a person with a defective title, confers a goood title on his buyer and in doing so defeats the claims of the true owner or of a person with a superior title is called
Transfer of property
—>> Transfer of title
Retention of title
General lien
4. A___________ is a document signed by the ship owner, or by the master or other agent of the ship owner, which states that certain goods have been shipped on a particular ship and sets out the terms on which these goods have been delivered to and received by the ship owner
Contract of Freight
Hire Purchase agreement
—>> Bill of Lading
Contract
5. Where the hirer under the relevant hire purchase agreement is in default, in consequence of which a notice has been served on him, a refusal to deliver up the goods activate the owner’s right of action. What section of Hire Purchase Act is in issue here
Section 10(4)
Section 9(3)
—>> Section 14(1)
Section 17(3)
6. There are different types of companies recognised under the Nigerian law. This is not surprising Companies are the vehicle by which economic activities ventilated globally. A company established an enactment is called
Public company
—>> Statutory company
Guarantee company
Incorporated trustee
7. A group of four Nigerians approached you to register
N50 million
N20 million
N40 million
—>> N25 million
8. The conditions precedent to the invocation of the provision of section 9(5) as to right of action by the owner. The conditions include the following, excluding
To keep removed goods in his possession
To retain them pending the case
Liability to the hirer in case of damage
—>> To refund all rents paid by the hirer
9. A ______________ transaction is a bailment of goods but with a provision for the option of sale or transfer of the property in the goods bailed from the bailor to the bailee
Sale of Goods
—>> Hire Purchase agreement
Hire
Agency
10. Where the hirer under the relevant hire purchase agreement is in default, in consequence of which a notice has been served on him, a refusal to deliver up the goods activate the owner’s right of action. What section of Hire Purchase Act is in issue here
—>> Section 14(1)
Section 17(3)
Section 10(4)
Section 9(3)
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