COMMERCIAL LAW BBS 3930 TEST THREE. PARTNERSHIP TEST Answer all five Questions with complete explanations. [Total marks 50marks] . What are the essential characteristics of a partnership? Explain how these characteristics differ from a sole trader? {10 marks] Discuss the advantages and disadvantages of a partnership compared to other forms of business Organisations [10marks] MNO partnership has three partners: MN and O. P a friend of M represents himself as a partner of MNO partnership to a creditor, who extends credit to the partnership. Discuss the legal implications in this matter [10marks] Explain how a retired partner is liable to the partnership? {1Omarks] Section 5 of the partnership Act 1980 states that partners are agents of the firm and of the other partners. Discuss the implications of this section on the relationship between partners and the partnership. [LOmarks]KWAME NKRUMAH UNIVERSITY SCHOOL OF BUSINESS STUDIES. BBS 390 COMMERCIAL LAW - BBS AUGUST 2023 FINAL EXAMINATION DURATION: THREE (3) HOURS MARKS: 100 INSTRUCTIONS, 1, Check that you have the correct examination paper in front of you. 2. This paper consists of seven (06) questions; answer a total of Four (4) questions. 4 3. “Question one (1) is COMPULSORY. 4, Answer any other Three (3) questions. 3 ieee usin nae agQUESTION ONE COMPULSORY |A. Discuss whether and the extent to which itis advantageous for a company to be imbued) with the capacity, rights, powers and privileges of an individual after it has been incorporated. Discuss [20marks] B. Who is an agent and what are his authorities to do his work? [20marks] QUESTION Two. A. Define the concept of cooperate personality and discuss the circumstances in which courts often draw aside the veil to see what really lies behind? [1 0marks] B. Under what circumstances will the principal be bound by a contract made on his or her behalf by an agent without his or her explicit authority? [1 0marks] QUESTION THREE, ‘ A; What are preincorperated contracts and what eriteria do companies use to adopt these contracts? [1Omarks] 'B. Agency isthe fiduciary relationship which results from the manifestation of consent by a one person to another. ) (64° [10marks] ' QUESTION FOUR A. How does one become a member and ccase being a member of a company? [1 0marks} BB. The life blood of a company is angered on its share capital. In relation to this, how does ‘the Doctrine of share capital contribute to ensuring that the company its shares are maintained. (10marks}2 KWAME NKRUMAH UNIVERSITY SCHOOL OF BUSINESS STUDIES : BBS 390 — COMMERCIAL LAW TEST INSTRUCTIONS, MLERE ARE 20 QUESTIONS 1N THIS Par IARKS. ANSWER ALL QUESTIONS, . ALL QUESTIONS CARRY TI AME Name two elements of a good Legal System mak 2. Zambia got its Legal system from... (innt) Parliament cannot make all Laws in the country , therefore government ministers have Sg, Ceenallowed to make Laws and these laws are called (tat) Ps. Cre tia pecies vhee pic peta inate $8. Part three of the Zambian constitution talks about the fundamental human rights. These rights are not absolute but have exceptions or limitations. Please provide one word which ‘means the same as the above ..... (mark) 6. Why is the English law referred to the common law. .....:-se-(1matk) 7. What are Misdemeanors in Law .. (mark) '8. In order for the court to convict the accused in a Civil matter, the prosecutor must prove his case on the ....... (1 mark) 9. The following elements are associated with criminal and civil cases. Please explain them in your own words (1) felony (1/2) (2) balance of probability(1/2) (0. High courts are said to have unlimited jurisdiction. Please explain this in your own i understandi (immatk) , 11. Please explain how cases are commenced in a subordinate court.....(Imark) 12, The Supreme Court is said to be an appellant court. However, there was one ease which 1s. used to commence in the Supreme Court but this is not the case now. .Please name this ease... sssseeseaul/2 and the court which now handles this matter, alfa 13; In what instance ean a police man arrest a suspect without a warrant, .....-.(Imath) 14, What is Bail? (Imark) > 15, What is double jeopardy? ; 16. If there is procedure impropriety in someone’s dismissal. which court ean one_seck {1mark) ; i derstanding what is a Plea? (1 mark) aoa the defendant is sentenced, he is allowed {0 advance reasons why he can't be on This stage is called. ..{lmatk) ye ys accompanied by tive in so far as Separation of >COMPANY LAW TEST, COMMERCIAL LAW BBS 390 ODL. 2023 1. When will the name of a company be cleared for registration? Mention two. instances. (2marks) 2. Mention two ways in which one ceases being a . After the company has been incorporated, name the company must do and why is it important? (2marks) |. What is the exception to The Doctrine of Separate Legal Personality.(imark) . Mention one disadvantage of sole trader? (2mark) . When can shares be forfeited in a company?(1mark) . What is the significance of the case of Ooregum Mining Compan} company law? (1mark) 8. What does share allotment v share isstiance mean? (2mark) 9. What is the importance of the case of kelner v Baxter? (mark) 40.In what respects if at all, is the application for incorporation comparable or distinguishable from atticles of association under the Zambian company? (mark) LiFhe authors of pat pany law (2997) have suggested-that-at pase 767;vol nember of a company? (2marks) the statutory requirement which Noaus y of India v R in 12.8 company is said to have powers, rights, capacity, and privileges of an individual discuss how these ate advantages to the company? Consider five points only.(Smarks)School of Business studies Commercial law test Two Full Time Intake 2023 Please read allthe instructions carefully and answer all the questions. [Total marks 20] 1. Who defined a company as a person, artifical intangible and existing only in the contemplation of the law? A. judge summer sort. Kj. 8. MS Annie Bobo. C. judge Buckley. J. D. marshal. j [Imark] 2. Who are liable as contributories to the company’s liabilities? A. past and present members, B. directors and mangers whose iblties are unlimited. c. holders of fully shares unless they do not wish to do so. D. all the above. [1mark] 3. Artificial legal persons can also be promoters of companies .{ True /False] {mark} 4. What is the Doctrine to the Exception of separate Legal Personality? [2marks] How are Articles in a company altered? [1mark] . Which of the following is the feature of a ‘company? A. Transferability of shares .B. perpetual succession. c. limited liability. D. all the above. [imark] Mention one liability of a promoter? [1mark] 8. After the company has been incorporated mention one statutory obligation which the company must cerry out and what isthe significance of this requirement? [2marks] ‘9, An incorporated company many be ..A. limited by shares. B limited company by guarantee. C. An limited company. D. All the above. [1mark] 40. When can redeemable shares be applicable ina company? (1mark] 11, What is membership by inscription? [Imark] 42. The first directors of the company are appointed by... A. the registrar of the ‘companies. B. the promoters. .C. the shareholders. D. the government.[1mark] 13.A shareholder is an agent of a company. [True/False][ 1mark] 44, Which shares do most founder members hold? [1mark] 45.In the case of a private company there is @ restriction on the transferability of shares. True /false. [1mark] i, class ofQUESTION ONE Discuss whether and the extent to which it is advantageous for a company to be Tnoued wth athe capacity , vights , powers , and privileges of an individual, (20arks) QUESTION TWO Mention and define four companies that are governed by Act 10 OF 2017 or Companies Act cap 388 of the laws of Zambia. (20marks) QUESTION THREE No one can become the agent of another person except by the will of that person. Ortically discuss the veracity of this statement, (20marks) QUESTION FOUR y- Attempt any four from the following by briefly explaining what they are; 4, Delegated Legislation. (Smarks) 2, Mention the court which is between the local court and the subordinate and say ‘what ts functions are, (Smarks) 3 Dudges rules( Smarks) 4, Ex post facto law, (Smarks) Indemnification and types of liens in Agency(Smarks) QUESTION 5 ‘1, What does the term share capital mean in a company? Smarks) 2. How does a company raise its capital2(Smarks) 3 Menton the ways of how one becomes a member of @ company and how one