问答题Under the articles of association of Dundas Ltd, a farming company, the directors of the company require the consent of the general meeting by an ordinary resolution to borrow sums of money in excess of R100,000. The other articles are in the form of Table A. John has been appointed managing director of the company and he holds 1% of the issued shares of the company. Without seeking the approval of the members as required by the articles, John entered into a contract worth R200,000 with Farm Machinery Ltd to buy some agricultural machinery for use by Dundas Ltd in its farming operations. However, John holds shares in Farm Machinery Ltd, which subsequently paid him a personal commission of R20,000. Smart is the company secretary of Dundas Ltd. He hired a car from Superb Cars Ltd telling them that the car was being rented for company business. Smart asked Superb Cars Ltd to deliver the car to his home address, which they did. Smart then used the car for private purposes and has now disappeared without paying the hire charge. Required: Advise the directors of Dundas Ltd whether: (a) they are bound by the agreement with Farm Machinery Ltd and Superb Cars Ltd; and (5 marks) (b) Dundas Ltd has any claim on the commission paid to John. (5 marks)

问答题(b) identify the money-laundering prevention requirements for NBFCs. (5 marks)

问答题(b) Chip, for not selling the pottery to him.

问答题(b) The circumstances under which the court may be called upon to wind up a company. (6 marks)

问答题(c) shadow directors. (4 marks)

问答题(b) Describe the duties, powers and responsibilities of the head of the committee for management and liquidation of assets. (3 marks)

问答题Best Foods (Private) Limited (‘BFL’) is a company authorised by the objects clause of its memorandum of association to solely engage in the business of food processing. To enhance the profits of the company, the board of directors of BFL are considering importing energy drinks and distributing and selling them in Pakistan. BFL’s shareholders have asked the board of directors to explain whether the company is authorised to undertake the business of importing, distributing and selling energy drinks as proposed. The board of directors have approached you for advice. Required: In view of the provisions of the Companies Ordinance, 1984, analyse and explain whether BFL can undertake the proposed business. (10 marks)

问答题Chi, Di and Fi formed an ordinary partnership to run an art gallery. Each of them paid €100,000 into the business. As Fi had no prospect of raising any more money it was agreed between them that her maximum liability for any partnership debts would be fi xed at her original contribution of €100,000. The partnership agreement specifi cally restricted the scope of the partnership business to the sale of ‘paintings, sculptures and other works of art.’ In January 2010 Chi took €10,000 from the partnership’s bank drawn on its overdraft facility. She had told the bank that the money was to fi nance a short-term partnership debt but in fact she used the money to pay for a holiday. In February Di entered into a €25,000 contract on behalf of the partnership to buy some books, which she hoped to sell in the gallery. Required: Advise Chi, Di and Fi as to their various rights and liabilities in relation to the operation of the business under partnership law. (10 marks)

问答题(b) explain the steps that a retiring partner may take to protect himself from liability for future debts of the partnership. (6 marks)

问答题Discuss the legal requirements for forming a partnership under the Partnership Proclamation 1957. (10 marks)

问答题(c) State SIX circumstances in which the court may NOT grant specifi c performance of a contract. (6 marks)

问答题Explain the essential characteristics of a partnership as defined in the Partnership Act 1961. (10 marks)

问答题(b) an acceptance and a counter-proposal (counter-offer). (5 marks)

问答题In relation to the legal system, explain what the constitutional control of legislation is. (10 marks)

问答题Errol is the only member of Frankfurter CC. Due to the unfavourable economic climate Frankfurter CC has incurred substantial debts. The corporation owes its bank a substantial sum on overdraft. Some of the creditors are now complaining that Errol failed to disclose the corporation’s terrible situation when Errol placed further orders with them. The creditors also allege that Frankfurter CC’s business has been carried on recklessly. Required: Discuss whether Errol can be held personally liable for Frankfurter CC’s debts. (10 marks)

问答题(c) his debentures. (4 marks)

问答题(b) state the time limit for such an extraordinary general shareholders’ meeting to be held. (2 marks)

问答题(c) state how the court should deal with the claim brought by Mr Lee for damages against villagers because some of the trees in the land were destroyed by villagers in digging coal. (4 marks)

问答题(b) pre-incorporation contract. (5 marks)

问答题Explain FIVE advantages of incorporating a company under the Companies Act 1965, as opposed to other forms of business organisation. (10 marks)