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Commerce Past Questions

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Which of the following must be present in an agency by agreement?
  • A. intentions
  • B. will
  • C. consent
  • D. authority
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An agreement to sell is distinguishable from sale because in the former, the transfer of goods is
  • A. not anticipated
  • B. not discussed
  • C. deferred
  • D. immediate
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Mr Amusa says to Mr Bello 'i will sell you this hat for N30'. And Mr Bello replied 'i will pay N29'. The contract is
  • A. an offer and acceptance
  • B. an implied contract
  • C. a complete simple contract
  • D. an offer but no acceptance
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Nationalization of an industry means that its ownership becomes that of
  • A. government
  • B. shareholders
  • C. taxpayers
  • D. indigenes
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The comprehensive import supervision scheme was set up by the federal government in order to
  • A. reverse Nigeria's unfavourable balance of trade
  • B. promote fair trade between Nigeria and other countries
  • C. counteract all fraudulent business deals of Nigeria with other nationals
  • D. ensue that import into Nigeria are of the correct quality, value and quantity
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