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Buss 216:Business Law Ii Question Paper
Buss 216:Business Law Ii
Course:Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2011
KENYA METHODIST UNIVERSITY
END OF 3''RD ''TRIMESTER 2011 EXAMINATIONS
FACULTY : SCHOOL OF BUSINESS AND MANAGEMENT
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSS 216
UNIT TITLE : BUSINESS LAW 1I
TIME: 2 HOURS
Instructions: Answer Question ONE (Compulsory) and any other TWO
Questions.
Question One
"A company is described as an artificial legal person created by law and having its existence separate and distinct from the natural persons occupying it". With the help of a leading case, discuss this statement.
(10 Marks)
Peter, Mwangi and Jane have decided to convert their partnership christened PEMWAJA FIRM into a company. During their partnership period, they entered into certain contracts which they would like their new company, PEMWAJA Co. Ltd to ratify and adopt.
In view of this,
Explain to Peter, Mwangi and Jane the benefits they would derive from converting their partnership firm into a company.
(10 Marks)
Discuss the legal position of the preliminary or pre- incorporation contracts by Pet, Mwangi and Jane on the company they intend to form
(10 Marks)
Question Two
Once a company is incorporation, it has perpetual succession until it is brought down through liquidation process. In the light of this statement, define the term liquidation and describe any EIGHT reasons why a company may be liquidated or wound up.
(10 Marks)
To register a company, certain documents must be delivered to the registrar of companies. Identify and describe, any FIVE such documents.
(10 Marks)
Question Three
Majority rule and minority protection is the hall mark upon which prudent management of a company’s affairs is founded. Discuss this statement as it relates to company law. (20 Marks)
Question Four
The management of affairs of a company is left in the hands of the Board of Directors. However, cap 486, provides certain qualifications, disqualifications and duties of a director. Explain this statement.
Bingwa Matata Co. Ltd is a company incorporated under the provisions of the Companies Act, Cap 486 laws of Kenya. In its Annual General Meeting, the members proposed to amend the Memorandum of Association of the company. However, the company Secretary advised members that such amendments have stringent provisions which must be observed. In view of this, advise the members on the requirements of law to amend a Memorandum of Association of a company.
(10 Marks)
Question Five
Define a prospectus and highlight the contents of a prospectus.
(8 Marks)
Explain the following Terms as they are use under company law:
Proxy
(3 Marks)
Resolution
(3 Marks)
Quorum
(3 Marks)
Shares & Share Capital
(3 Marks)
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