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+ past questions and counting.
- 0 Marks
BL – Nov 2012 – L1 – SA – Q19 – Contract Law
Identify the legal activity that an undischarged bankrupt is not incapacitated from doing.
Question
An undischarged bankrupt is NOT legally incapacitated to do ONE of the following:
A. To marry a wife
B. To be elected into an elective office
C. To be appointed to or to act in the office of a Justice of Peace
D. To be appointed as a trustee of a trust estate
E. To be admitted to serve on a governing board of a statutory institution
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- 1 Marks
BL – May 2014 – L1 – SA – Q11 – Contract Law
Identifying when the court may lift the veil of incorporation.
Question
Under the common law, the veil of incorporation will NOT be lifted where the company:
A. Has been formed for fraudulent or illegal purposes
B. Operates as an agent of shareholders
C. Trades with alien enemies
D. Engages in acts that are detrimental to public interest
E. Engages in completely ultra vires activities
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- Tags: Corporate Liability, Illegal Purpose, Lifting the Veil
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2014
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- 1 Marks
BL – Nov 2021 – L1 – SA – Q11 – Contract Law
Identifying the type of contract negotiated on social media.
Question
Emeka and Ngozi negotiated and entered into a contract using Facebook throughout. What kind of contract is this?
A. Facebook contract
B. Unenforceable contract
C. Contract pending signature
D. Social media contract
E. Electronic contract
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- Tags: Contract Law, Electronic Contract, Social Media
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2021
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- 6 Marks
BL – Nov 2023 – L1 – SB – Q5c – Contract Law
Advises on the legal implications of transferring bulk money from Canada to Nigeria under the Money Laundering (Prevention and Prohibition) Act.
Question
Oluwe family borrowed money to enable him (Oluwe) to travel to Canada in 2014 to study Medicine. After graduation, he stayed back in Canada to work. He now wants to transfer bulk money equivalent to US$15,000 to his family from Canada. One of the family members, Oghiei, has come to you to ask what he should do, considering the Money Laundering (Prevention and Prohibition) Act 2022.
Required:
State the legal position and advise Oghiei. (6 Marks)
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- Tags: Business Transactions, Data Purchasing, Database, Information Systems
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2023
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- 20 Marks
BCL – May 2019 – L1 – Q7 – Company Law
Discusses the process of liquidation, different modes of winding up, and the consequences of the winding up process.
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- Tags: Company Law, Corporate Dissolution, Legal Process, Liquidation, Winding-up
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2019
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- 8 Marks
BCL – May 2019 – L1 – Q6b – Company Law
Identifies conditions under which a person is disqualified from being appointed as an auditor in a private company.
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- Tags: Auditor Disqualification, Company Law, Corporate Governance, Private Company
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2019
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- 12 Marks
BCL – May 2019 – L1 – Q6a – Company Law
Explains the concepts of floating charge, naked debentures, and income surplus in company law.
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- Tags: Company Capital, Floating Charge, Income Surplus, Naked Debentures
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2019
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- 20 Marks
BCL – May 2019 – L1 – Q4 – Company Law
Discusses the rights of parties in share allotment and revocation under company law.
Question
On 1st January 2018, Parentsgold Ltd, a new and promising company, had its prospectus published. On 3rd January 2018, Frank Larry sent an application for GH¢100,000 worth of shares in Parentsgold Ltd. On the same 3rd January, Abena Manu submitted an application for GH¢50,000 worth of shares, but on 8th January 2018, she sent a mail revoking her application. Both applicants remitted the requisite application moneys on the day of their application.
Due to lack of a quorum, the Board of Directors of Parentsgold Ltd could not meet to consider the applications and allot shares until 15th September 2018. Frank Larry was informed on 16th September 2018 that his application had been accepted and that GH¢100,000 worth shares had been duly allotted to him, but he wrote back refusing the allotment.
Required: Advise the parties of their rights, if any.
(20 marks)
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- Tags: Company Law, Contract Law, Prospectus, Revocation, Share Allotment
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2019
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- 8 Marks
BCL – May 2019 – L1 – Q3b – Contract Law
Discusses the identification and explanation of equitable remedies under the law of contract.
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- 2 Marks
BCL – May 2019 – L1 – Q3a – Contract Law
Distinguish between legal and equitable remedies in contract law.
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- Tags: Contract Law, Court Reliefs, Equitable Remedies, Legal Remedies
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2019
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- 8 Marks
BCL – Nov 2018 – L1 – Q7c – Contract Law
Describe two ways in which contracting parties can terminate their contract.
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- Tags: Agreement, Breach, Contract Law, Contract Termination, Frustration, Performance
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2018
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- 12 Marks
BCL – Nov 2018 – L1 – Q4a – Company Law
Explain three privileges available to shareholders with cumulative preference shares.
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- Tags: Company Law, Dividends, Preference shares, Shareholder Privileges, Winding-up
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2018
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- 8 Marks
BCL – Nov 2018 – L1 – Q3c – Company Law
Identify five situations in which a court can order a company to be wound up.
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- Tags: Company Law, Corporate Insolvency, Court Order, Liquidation, Winding-up
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2018
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- 6 Marks
BCL – Nov 2018 – L1 – Q3b – Company Law
List three civil liabilities that can be brought against a director for breaching their duty.
Question
As part of the duty, a director of a company stands in a fiduciary relationship towards the company and shall observe the utmost good faith towards the company in a transaction with it or on its behalf. He or she shall act at all times in what the director believes to be the best interests of the company as a whole so as to preserve its assets, further its business, and promote the purposes for which it was formed, and in a manner that a faithful, diligent, careful, and skillful director would act in the circumstances. Besides, a director is not to use for his or her own advantage the money or property of the company or confidential information or special knowledge obtained in his or her capacity.
Required:
List THREE (3) civil liabilities that are to be brought against a director who commits a breach of duty and violates the rules regarding conflict of interest.
(6 marks)
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- Tags: Breach of Duty, Civil Liabilities, Company Law, Corporate Governance, Directors' Duties
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2018
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