CLL307 Solutions

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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