What is the nemo dat rule in sales law?

2.42 Nemo dat

Quiz
•
Financial Education
•
12th Grade
•
Easy
Deeky Mvula
Used 1+ times
FREE Resource
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A seller can transfer ownership of goods they don't legally own
A buyer cannot acquire ownership if the seller lacked a perfect title
A buyer can acquire good ownership even if the seller lacked a perfect title
A seller can transfer ownership of goods they don't legally own
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which situation can a buyer be estopped from claiming ownership of a sold item?
If the seller lacked a perfect title
If the buyer was aware of the seller's lack of ownership
If the buyer never informed the true owner that the item was theirs
If the buyer acted in good faith
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under what circumstance can a buyer acquire full ownership even if the agent oversteps their authority?
If the agent has a perfect title to the goods
If the buyer is aware of the agent's actions
If the agent informs the buyer of their actions
If the buyer is unaware of the agent's overstepping
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When can a buyer keep an item purchased in good faith, even if the seller had a faulty claim to ownership?
If the buyer knew about the faulty claim
If the true owner takes legal action to void the sale
If the buyer bought the item at a discounted price
If the buyer was unaware of the faulty claim
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if a seller accidentally sells the same item twice?
The seller is penalized for the mistake
The buyer who pays more becomes the rightful owner
The buyer who takes possession first becomes the rightful owner
The seller can reclaim the item from both buyers
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under what condition can a new buyer acquire full ownership rights when an item is resold with the original seller's consent?
If the new buyer is aware of the original sale
If the original seller revokes their consent
If the new buyer acts in good faith
If the original seller sells the item at a higher price
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