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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:2010

FACULTY : BUSINESS AND MANAGEMENT STUDIES

DEPARTMENT : BUSINESS ADMINISTRATION

TIME : 2 HOURS

INSTRUCTIONS Answer Question ONE and any Other TWO Questions

Question 1

a) Explain the meaning of ordinary resolutions indicating when such resolutions are required to be passed (10marks)

b) State ten distinguishing features of an incorporated public company limited by shares and partnership. (10marks)

c) Explain what is meant by the indoor management doctrine and state its importance and expectations (10marks)

Question 2

a) “A company may freely alter its articles, however, there are certain restrictions that have been developed by the courts to curtail the freedom”. Discuss these restrictions (6marks)

b) Outline the defences that a director, or other person involved in issuing a prospectus may avail himself/herself when there are misstatements in the prospectus. (10marks)

Question 3

Write explanatory notes on the following:

a) Lifting the veil of incorporation (5marks)

b) Statutory report discussed in the statutory meeting (5marks)

c) The subsidiary company (5marks)

d) Ratification of promoters pre-incorporation contracts. (5marks)

Question 4

a) What are the powers of a liquidator who has been approved in a winding up process? (10marks)

b) Foss V. Harbottle is basically a rule of majority rule which underscores the majority rule of governance of companies. What is the nature of this rule? (10marks)

Question 5

a) Who is a company member and how does one lose out memberships? (10marks)

b) Discuss briefly, the concepts of substratum and ultra vires, ensuring that you have distinguished the two in meaning scope and contents (10marks)

Buss 216:Business Law Ii Question Paper

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