Commerce Past Questions and Answers

Sabo and Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo. Before the date the date of delivery and without any default by Gambo, the tomatoes were stolen. This is an example of termination of contract by

A Breach
B Performance
C Fault
D Frustration

Question 267:

A minor is not permitted to enter into a valid contract because he

A Cannot pay the consideration
B Is too young to interpret the law
C Is young in the eye of the law
D May not be able to write the contract

Question 268:

A person who is cheated in business transaction can seek legal remedy

A Even if the agreement is verbal and the amount involved is large
B Only if the business is a sole proprietorship whose owner is known
C Regardless of the form of business organization
D Only if the transaction is documented in a contract

Question 269:

The most essential element of a product is the

A Price
B Utility
C Design
D Colour

Question 270:

Which of the following is a disadvantage of nationalization

A It promotes poor economic planning
B The cost of services is not determined by by market forces
C It may lead to rationalization of resources
D The development of local skills and technologyis retarded