Fiduciary Duties – NBC Institute

BL – Nov 2023 – L1 – SA – Q19 – Law of Trusts

This question asks about the person who benefits from property held in a trust.

Question

Trust is a relationship in which a person is appointed to hold property for the benefit of another called
A. Inquisitor
B. Administrator General
C. Executor
D. Administrator
E. Beneficiary

Answer

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Tags: Fiduciary Duties, Property Law, Trusts
Level: Level 1

Topic: Law of Trusts
Series: NOV 2023

BL – May 2015 – L1 – SB – Q2c – Company Law

Explain the duties of a company director and the legal implications of breaching them.

Question

Joe, a Pharmacist, is a director in Wuzup Pharmaceutical Company Limited. Last month, an investigation by police detectives revealed that Joe had been stealing drugs from the company’s store and selling them in his own private pharmacy. The board of Wuzup Pharmaceutical Company Limited was unaware that Joe owned and operated a private pharmacy.

It was also discovered that Joe had been accepting bribes from suppliers of chemicals to Wuzup Pharmaceutical Company Limited.

In view of these findings, the company has invited you to advise it on the duties of a company director.

i. State any FOUR duties of a company director. (4 Marks)
ii. Comment briefly on the legal implications of Joe’s actions in relation to his duties as a director in Wuzup Pharmaceutical Company Limited. (6 Marks)

Answer

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Tags: Directors, Fiduciary Duties, Legal Implications
Level: Level 1

Topic: Company Law
Series: MAY 2015

BCL – Mar 2023 – L1 – Q3b – Company Directors and Other Officers

Identify the qualifications, fiduciary duties, and types of a Company Secretary.

Question

A Company Secretary is an officer of the company responsible for the recording of proceedings of both Board and General Meetings. The Company Secretary embodies the institutional memories of the organization and brings directions in the governance of the company. The Company Secretary may be an individual, a partnership, or a company.

Required:
i) Identify THREE (3) characteristics that qualify a person to be appointed as Company Secretary under the Companies Act, 2019 (Act 992).
(6 marks)

ii) State THREE (3) fiduciary duties required of a Company Secretary.
(6 marks)

iii) Explain TWO (2) types of Company Secretary.
(3 marks)

Answer

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Tags: Company Law, Company Secretary, Fiduciary Duties, Qualifications
Level: Level 1

BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers

Describe the fiduciary duties of a promoter prior to the formation of a company.

Question

Certain key persons before and after the formation of a company stand in a fiduciary relationship to the company.

Required:

Describe the promoter’s fiduciary duties prior to the formation of a company. (4 marks)

Answer

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Tags: Company Formation, Fiduciary Duties, Promoter
Level: Level 1

Topic: Company directors and other officers
Series: JULY 2023

BL – Nov 2023 – L1 – SA – Q19 – Law of Trusts

This question asks about the person who benefits from property held in a trust.

Question

Trust is a relationship in which a person is appointed to hold property for the benefit of another called
A. Inquisitor
B. Administrator General
C. Executor
D. Administrator
E. Beneficiary

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fiduciary Duties, Property Law, Trusts
Level: Level 1

Topic: Law of Trusts
Series: NOV 2023

BL – May 2015 – L1 – SB – Q2c – Company Law

Explain the duties of a company director and the legal implications of breaching them.

Question

It was also discovered that Joe had been accepting bribes from suppliers of chemicals to Wuzup Pharmaceutical Company Limited.

In view of these findings, the company has invited you to advise it on the duties of a company director.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Directors, Fiduciary Duties, Legal Implications
Level: Level 1

Topic: Company Law
Series: MAY 2015

BCL – Mar 2023 – L1 – Q3b – Company Directors and Other Officers

Identify the qualifications, fiduciary duties, and types of a Company Secretary.

Question

Required:
i) Identify THREE (3) characteristics that qualify a person to be appointed as Company Secretary under the Companies Act, 2019 (Act 992).
(6 marks)

ii) State THREE (3) fiduciary duties required of a Company Secretary.
(6 marks)

iii) Explain TWO (2) types of Company Secretary.
(3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Company Secretary, Fiduciary Duties, Qualifications
Level: Level 1

BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers

Describe the fiduciary duties of a promoter prior to the formation of a company.

Question

Certain key persons before and after the formation of a company stand in a fiduciary relationship to the company.

Required:

Describe the promoter’s fiduciary duties prior to the formation of a company. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Formation, Fiduciary Duties, Promoter
Level: Level 1

Topic: Company directors and other officers
Series: JULY 2023

Question Tag: Fiduciary Duties

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BL – Nov 2023 – L1 – SA – Q19 – Law of Trusts

This question asks about the person who benefits from property held in a trust.

BL – May 2015 – L1 – SB – Q2c – Company Law

Explain the duties of a company director and the legal implications of breaching them.

BCL – Mar 2023 – L1 – Q3b – Company Directors and Other Officers

Identify the qualifications, fiduciary duties, and types of a Company Secretary.

BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers

Describe the fiduciary duties of a promoter prior to the formation of a company.

BL – Nov 2023 – L1 – SA – Q19 – Law of Trusts

This question asks about the person who benefits from property held in a trust.

BL – May 2015 – L1 – SB – Q2c – Company Law

Explain the duties of a company director and the legal implications of breaching them.

BCL – Mar 2023 – L1 – Q3b – Company Directors and Other Officers

Identify the qualifications, fiduciary duties, and types of a Company Secretary.

BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers

Describe the fiduciary duties of a promoter prior to the formation of a company.

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BL – Nov 2023 – L1 – SA – Q19 – Law of Trusts

This question asks about the person who benefits from property held in a trust.

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BL – May 2015 – L1 – SB – Q2c – Company Law

Explain the duties of a company director and the legal implications of breaching them.

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BCL – Mar 2023 – L1 – Q3b – Company Directors and Other Officers

Identify the qualifications, fiduciary duties, and types of a Company Secretary.

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BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers

Describe the fiduciary duties of a promoter prior to the formation of a company.

You're reporting an error for "BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers"

BL – Nov 2023 – L1 – SA – Q19 – Law of Trusts

This question asks about the person who benefits from property held in a trust.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q19 – Law of Trusts"

BL – May 2015 – L1 – SB – Q2c – Company Law

Explain the duties of a company director and the legal implications of breaching them.

You're reporting an error for "BL – May 2015 – L1 – SB – Q2c – Company Law"

BCL – Mar 2023 – L1 – Q3b – Company Directors and Other Officers

Identify the qualifications, fiduciary duties, and types of a Company Secretary.

You're reporting an error for "BCL – Mar 2023 – L1 – Q3b – Company Directors and Other Officers"

BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers

Describe the fiduciary duties of a promoter prior to the formation of a company.

You're reporting an error for "BCL – July 2023 – L1 – Q4c – Company Directors and Other Officers"

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