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- 20 Marks
BL – Nov 2021 – L1 – SB – Q2 – Company Law
Identifying torts affecting economic interests and explaining company securities and the role of a court-appointed receiver.
Question
a. Torts have categories.
Required:
State FOUR categories of tort that affect economic interest. (4 Marks)
b. Chief Afeez is the chairman and majority shareholder of Afeez Nigeria Limited which has won a contract of N500 million that is much beyond the capacity of Afeez Nigeria Limited. Chief Afeez decides to raise the capital for the company by issuing shares and inviting friends to acquire shares in the company as well as issuing debentures.
Required:
Explain briefly FOUR of the following:
i. Company securities
ii. Debentures
iii. Share capital
iv. Preference shares
v. Shareholder (12 Marks)
c. You are a court-appointed receiver of a company with several persons, including debenture holders, having interests in its assets.
Required:
Explain the step you should take in determining how the proceeds of the receivership are to be distributed. (4 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Company Securities, Economic Interests, Receivership, Torts
- Level: Level 1
- Topic: Company Law
- Series: NOV 2021
Report an error
- 20 Marks
BL – Nov 2021 – L1 – SB – Q2 – Company Law
Identifying torts affecting economic interests and explaining company securities and the role of a court-appointed receiver.
Question
a. Torts have categories.
Required:
State FOUR categories of tort that affect economic interest. (4 Marks)
b. Chief Afeez is the chairman and majority shareholder of Afeez Nigeria Limited which has won a contract of N500 million that is much beyond the capacity of Afeez Nigeria Limited. Chief Afeez decides to raise the capital for the company by issuing shares and inviting friends to acquire shares in the company as well as issuing debentures.
Required:
Explain briefly FOUR of the following:
i. Company securities
ii. Debentures
iii. Share capital
iv. Preference shares
v. Shareholder (12 Marks)
c. You are a court-appointed receiver of a company with several persons, including debenture holders, having interests in its assets.
Required:
Explain the step you should take in determining how the proceeds of the receivership are to be distributed. (4 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Company Securities, Economic Interests, Receivership, Torts
- Level: Level 1
- Topic: Company Law
- Series: NOV 2021
Report an error