Topic: Agency Law

Search 500 + past questions and counting.

  • Filter by Professional Bodies

  • Filter by Subject

  • Filter by Series

  • Filter by Topics

  • Filter by Levels

  • 9 Marks

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

Maria, a famous national hero, was involved in an accident recently during which her brand new Lexus Jeep was damaged beyond repairs. The accident was caused by the recklessness of the driver of Bogus Company Limited. Since the Jeep was insured under comprehensive insurance by Absolve Insurance Plc, the insurance company processed Maria’s claim and gave her a brand new Lexus Jeep.

Thereafter, Chief Generous, a philanthropist, decided to give Maria a brand new Lexus Jeep to replace her damaged Jeep in view of her previous services to the country.

Absolve Insurance Plc wrote a letter to Maria requesting her to return the Lexus Jeep gift she received from Chief Generous since it has subrogation right over the Jeep. Maria has refused to return the Lexus Jeep.

You are required to advise Maria and Absolve Insurance Plc on the subrogation right of the insurance company to the Lexus Jeep given to Maria by Chief Generous.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SB – Q3B – Agency Law"

  • 9 Marks

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

Maria, a famous national hero, was involved in an accident recently during which her brand new Lexus Jeep was damaged beyond repairs. The accident was caused by the recklessness of the driver of Bogus Company Limited. Since the Jeep was insured under comprehensive insurance by Absolve Insurance Plc, the insurance company processed Maria’s claim and gave her a brand new Lexus Jeep.

Thereafter, Chief Generous, a philanthropist, decided to give Maria a brand new Lexus Jeep to replace her damaged Jeep in view of her previous services to the country.

Absolve Insurance Plc wrote a letter to Maria requesting her to return the Lexus Jeep gift she received from Chief Generous since it has subrogation right over the Jeep. Maria has refused to return the Lexus Jeep.

You are required to advise Maria and Absolve Insurance Plc on the subrogation right of the insurance company to the Lexus Jeep given to Maria by Chief Generous.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SB – Q3B – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests the term describing the agency relationship created by representation.

The relationship that is created as a result of the representation by the principal which leads a third party reasonably to believe that an agency relationship exists is known as agency by ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests the term describing the agency relationship created by representation.

The relationship that is created as a result of the representation by the principal which leads a third party reasonably to believe that an agency relationship exists is known as agency by ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q6 – Agency Law

This question tests knowledge of the parties in an agency relationship.

The parties to an agency relationship are agent and ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q6 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q6 – Agency Law

This question tests knowledge of the parties in an agency relationship.

The parties to an agency relationship are agent and ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q6 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

The legal expression used to describe all personal property rights which can only be claimed or enforced by action and not by taking physical possession is known as ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q5 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

The legal expression used to describe all personal property rights which can only be claimed or enforced by action and not by taking physical possession is known as ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q5 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests knowledge of the principles not applicable to life assurance.

Which of the following principles is NOT applicable to life assurance?

A. Insurable interest
B. Assignment
C. Utmost good faith
D. No premium no cover
E. Subrogation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests knowledge of the principles not applicable to life assurance.

Which of the following principles is NOT applicable to life assurance?

A. Insurable interest
B. Assignment
C. Utmost good faith
D. No premium no cover
E. Subrogation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q8 – Agency Law

This question tests the understanding of the concept of ratification by a principal in an agency relationship.

Any act or statement which clearly shows the intention of the principal to adopt the action taken on his behalf by the agent is known as:

A. Ratification
B. Estoppel
C. Revocation
D. Consideration
E. Novation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q8 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q8 – Agency Law

This question tests the understanding of the concept of ratification by a principal in an agency relationship.

Any act or statement which clearly shows the intention of the principal to adopt the action taken on his behalf by the agent is known as:

A. Ratification
B. Estoppel
C. Revocation
D. Consideration
E. Novation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q8 – Agency Law"

  • 4 Marks

BL – Nov 2015 – L2 – SB – Q6d – Agency Law

List four types of agents involved in agency relationships.

Agency relationships are important for effective national and transnational commercial transactions. The categories of agencies are as diverse as the categories of available businesses.

Required:

State FOUR types of agents.
(4 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – Nov 2015 – L2 – SB – Q6d – Agency Law"

  • 4 Marks

BL – Nov 2015 – L2 – SB – Q6d – Agency Law

List four types of agents involved in agency relationships.

Agency relationships are important for effective national and transnational commercial transactions. The categories of agencies are as diverse as the categories of available businesses.

Required:

State FOUR types of agents.
(4 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – Nov 2015 – L2 – SB – Q6d – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q12 – Agency Law

Identifying the main types of securities issued by public limited companies.

Company securities which public limited companies issue to raise capital for their operations are mainly shares and ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q12 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q12 – Agency Law

Identifying the main types of securities issued by public limited companies.

Company securities which public limited companies issue to raise capital for their operations are mainly shares and ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q12 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying the minimum share capital requirement for life insurance business.

An insurer cannot carry on life insurance business if its share capital is less than ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q10 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying the minimum share capital requirement for life insurance business.

An insurer cannot carry on life insurance business if its share capital is less than ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q10 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q7 – Agency Law

Identifying the type of agent with implied authority to sell goods in their possession.

An agent in whose possession goods are put with an implied authority to sell them is a ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q7 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q7 – Agency Law

Identifying the type of agent with implied authority to sell goods in their possession.

An agent in whose possession goods are put with an implied authority to sell them is a ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q7 – Agency Law"

  • 9 Marks

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

Maria, a famous national hero, was involved in an accident recently during which her brand new Lexus Jeep was damaged beyond repairs. The accident was caused by the recklessness of the driver of Bogus Company Limited. Since the Jeep was insured under comprehensive insurance by Absolve Insurance Plc, the insurance company processed Maria’s claim and gave her a brand new Lexus Jeep.

Thereafter, Chief Generous, a philanthropist, decided to give Maria a brand new Lexus Jeep to replace her damaged Jeep in view of her previous services to the country.

Absolve Insurance Plc wrote a letter to Maria requesting her to return the Lexus Jeep gift she received from Chief Generous since it has subrogation right over the Jeep. Maria has refused to return the Lexus Jeep.

You are required to advise Maria and Absolve Insurance Plc on the subrogation right of the insurance company to the Lexus Jeep given to Maria by Chief Generous.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SB – Q3B – Agency Law"

  • 9 Marks

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

Maria, a famous national hero, was involved in an accident recently during which her brand new Lexus Jeep was damaged beyond repairs. The accident was caused by the recklessness of the driver of Bogus Company Limited. Since the Jeep was insured under comprehensive insurance by Absolve Insurance Plc, the insurance company processed Maria’s claim and gave her a brand new Lexus Jeep.

Thereafter, Chief Generous, a philanthropist, decided to give Maria a brand new Lexus Jeep to replace her damaged Jeep in view of her previous services to the country.

Absolve Insurance Plc wrote a letter to Maria requesting her to return the Lexus Jeep gift she received from Chief Generous since it has subrogation right over the Jeep. Maria has refused to return the Lexus Jeep.

You are required to advise Maria and Absolve Insurance Plc on the subrogation right of the insurance company to the Lexus Jeep given to Maria by Chief Generous.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SB – Q3B – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests the term describing the agency relationship created by representation.

The relationship that is created as a result of the representation by the principal which leads a third party reasonably to believe that an agency relationship exists is known as agency by ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests the term describing the agency relationship created by representation.

The relationship that is created as a result of the representation by the principal which leads a third party reasonably to believe that an agency relationship exists is known as agency by ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q6 – Agency Law

This question tests knowledge of the parties in an agency relationship.

The parties to an agency relationship are agent and ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q6 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q6 – Agency Law

This question tests knowledge of the parties in an agency relationship.

The parties to an agency relationship are agent and ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q6 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

The legal expression used to describe all personal property rights which can only be claimed or enforced by action and not by taking physical possession is known as ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q5 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q5 – Agency Law

This question tests the legal expression used to describe personal property rights enforceable only by action.

The legal expression used to describe all personal property rights which can only be claimed or enforced by action and not by taking physical possession is known as ___________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q5 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests knowledge of the principles not applicable to life assurance.

Which of the following principles is NOT applicable to life assurance?

A. Insurable interest
B. Assignment
C. Utmost good faith
D. No premium no cover
E. Subrogation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q14 – Agency Law

This question tests knowledge of the principles not applicable to life assurance.

Which of the following principles is NOT applicable to life assurance?

A. Insurable interest
B. Assignment
C. Utmost good faith
D. No premium no cover
E. Subrogation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q14 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q8 – Agency Law

This question tests the understanding of the concept of ratification by a principal in an agency relationship.

Any act or statement which clearly shows the intention of the principal to adopt the action taken on his behalf by the agent is known as:

A. Ratification
B. Estoppel
C. Revocation
D. Consideration
E. Novation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q8 – Agency Law"

  • 1 Marks

BL – May 2013 – L1 – SA – Q8 – Agency Law

This question tests the understanding of the concept of ratification by a principal in an agency relationship.

Any act or statement which clearly shows the intention of the principal to adopt the action taken on his behalf by the agent is known as:

A. Ratification
B. Estoppel
C. Revocation
D. Consideration
E. Novation

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2013 – L1 – SA – Q8 – Agency Law"

  • 4 Marks

BL – Nov 2015 – L2 – SB – Q6d – Agency Law

List four types of agents involved in agency relationships.

Agency relationships are important for effective national and transnational commercial transactions. The categories of agencies are as diverse as the categories of available businesses.

Required:

State FOUR types of agents.
(4 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – Nov 2015 – L2 – SB – Q6d – Agency Law"

  • 4 Marks

BL – Nov 2015 – L2 – SB – Q6d – Agency Law

List four types of agents involved in agency relationships.

Agency relationships are important for effective national and transnational commercial transactions. The categories of agencies are as diverse as the categories of available businesses.

Required:

State FOUR types of agents.
(4 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – Nov 2015 – L2 – SB – Q6d – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q12 – Agency Law

Identifying the main types of securities issued by public limited companies.

Company securities which public limited companies issue to raise capital for their operations are mainly shares and ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q12 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q12 – Agency Law

Identifying the main types of securities issued by public limited companies.

Company securities which public limited companies issue to raise capital for their operations are mainly shares and ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q12 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying the minimum share capital requirement for life insurance business.

An insurer cannot carry on life insurance business if its share capital is less than ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q10 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q10 – Agency Law

Identifying the minimum share capital requirement for life insurance business.

An insurer cannot carry on life insurance business if its share capital is less than ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q10 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q7 – Agency Law

Identifying the type of agent with implied authority to sell goods in their possession.

An agent in whose possession goods are put with an implied authority to sell them is a ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q7 – Agency Law"

  • 1 Marks

BL – May 2014 – L1 – SA – Q7 – Agency Law

Identifying the type of agent with implied authority to sell goods in their possession.

An agent in whose possession goods are put with an implied authority to sell them is a ____________.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BL – May 2014 – L1 – SA – Q7 – Agency Law"

Take control of your business data with insight and in-depth understanding by taking this course. 

Services

Contact Info

  • +233203701923
    +233543919232
  • info@noohrabusiness.com

Customer

Get In Touch

Follow us on our social media and get daily updates.

Facebook-f Twitter Linkedin-in Envelope
Oops!

This feature is only available in selected plans.

Click here to view all plans

Click on the login button below to login if you’re already subscribed to a plan or click on the upgrade button below to upgrade your current plan.

Login
Upgrade Plan

If you’re not subscribed to a plan, click on the button below to choose a plan

Subscribe to a plan