WAEC Past Questions and Answers - Page 148

736.

A contract to take possession of goods on installment payment with the option to transfer ownership after full payment is known as

A.

credit sale

B.

conditional sale

C.

hire purchase

D.

trade-in-sale

E.

leasing

Correct answer is C

No explanation has been provided for this answer.

737.

A transporter who had to sell some perishable goods without the authority of the owner becomes an agent by

A.

estoppel

B.

necessity

C.

ratification

D.

conduct

E.

appointment

Correct answer is B

No explanation has been provided for this answer.

738.

A mercantile agent having title to goods in his possession is known as

A.

factor

B.

broker

C.

jobber

D.

auctioneer

E.

stag

Correct answer is A

No explanation has been provided for this answer.

739.

When an acceptance to an offer is conditional, the offer becomes

A.

accepted

B.

a counter offer

C.

valid

D.

void

E.

frustrated

Correct answer is D

No explanation has been provided for this answer.

740.

Ola presented his motor-cycle for sale to Musa at a cost of #8,000. Musa agreed and bought the vehicle at the same amount.
Ola is the

A.

offeror

B.

offeree

C.

acceptor

D.

guarantor

E.

surety

Correct answer is A

No explanation has been provided for this answer.