JAMB Past Questions and Answers - Page 96

Hybrid computers are computers that exhibit features of analog computers and digital computers. The digital component normally serves as the controller and provides logical and numerical operations, while the analog component often serves as a solver of differential equations and other mathematically complex equations.

A computer system consists of mainly four basic units; namely input unit, storage unit, central processing unit and output unit. Central Processing unit further includes Arithmetic logic unit and control unit.

A voidable contract is a formal agreement between two parties that may be rendered unenforceable for a number of legal reasons. Reasons that can make a contract voidable include the following: Failure by one or both parties to disclose a material fact. A mistake, misrepresentation or fraud. Undue influence or duress.

Factors and Brokers are both and equally agents; but with this difference: the Factor is entrusted with the property which is the subject-matter of the agency; the Broker is only employed to make a bargain in relation to it. This means that, a broker does not take the possession of goods while a factor takes title of the goods

Advantages of hire purchase to seller.

• Increases sales and thus profits.
• It encourages impulse buying.
• They get commission from Finance Houses.
• Insurers good during the Hire Purchase period.
• The seller has the right to repossess the goods if the buyer defaults on payment.