Sale of Goods and Hire Purchase
ICAN Business Law
10 Sale of Goods and Hire Purchase practice questions covering everything you need for ICAN.
Drill Sale of Goods and Hire Purchase →Sample Sale of Goods and Hire Purchase questions
Express Logistics Ltd, a haulage company based in Kaduna, purchased five heavy-duty delivery vans from Chukwuma Motors Ltd for N80,000,000 to expand its fleet. During negotiations, the Managing Direct…
Alhaji Garba entered into a written Hire Purchase agreement on January 10, 2022, with Keffi Finance Ltd to acquire a motor vehicle (commercial bus) valued at N15,000,000. Under the agreement, the tota…
Benue Agro-Allied Processing Plc entered into two separate business transactions in March 2023: 1. **Transaction A**: Contracted to purchase 500 metric tonnes of raw cassava tubers from Makurdi Farme…
Babatunde entered into a hire-purchase agreement with Kazaure Motors Ltd for the acquisition of a commercial delivery van (motor vehicle). The terms of the agreement are as follows: - Cash price of th…
Kemi entered into a Hire Purchase agreement for industrial processing machinery with a Hire Purchase Price of ₦12,000,000. To date, she has paid total installments of ₦4,500,000 and currently owes ₦50…
Under the Sale of Goods Act 1893, which of the following scenarios represents a recognized statutory exception to the general rule of 'nemo dat quod non habet' (no one can give what he does not have)?
Zenon Ltd sold 500 bags of flour to Danladi Enterprises on 60 days credit terms. While the goods were in transit in the hands of an independent haulage carrier, Zenon Ltd discovered that Danladi Enter…
Which of the following is the primary legal characteristic that distinguishes a Hire Purchase Agreement from an Outright Credit Sale under Nigerian commercial law?
Alhaji Bako entered into a Hire Purchase agreement for a commercial delivery van with a total Hire Purchase Price of ₦8,000,000. He paid a deposit and subsequent installments totaling ₦4,200,000, but …
Chief Okafor purchased a chemical compound from Apex Industrial Supplies Ltd, expressly informing the seller that it was needed for processing and bleaching edible palm oil. Apex Ltd, which regularly …