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Foundation level · Corporate and Business Law

Corporate and Business Law · 2015

Every objective and theory question in this paper, and the topic notes to revise each one.

13 questions1 objective12 theory25 topics to revise
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, Pathfinder, 2015

May 2015 diet

1 objective and 6 theory
1 objective6 theory11 theory marks set
No.SectionMarksCovers
Q1Two defences available to a defendant in negligence. Revise the defences.
Q2Explain the term debenture in relation to a company’s securities. Revise the meaning of a debenture and how it differ...
Q3Two requirements of CAMA for a successful transfer of shares in Zee Ltd. Revise the steps for transfer and worked pro...
Q4Four statutes against bribery, and an explanation of bribery. Revise the offence and the statutes.
Q56Assignment of an insurance policy, types of assignment, why rights cannot pass by delivery, and when a marine policy ...
Q65Two types of bill of exchange. Revise the types of bill.

Objective questions Section A

14
Objective question 14Section A
  • Which is a type of e-contract (shrink-wrap), and an e-contract validly entered into is enforceable. Revise the meaning of an e-contract.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2015, Question 14

Theory questions Written questions

1
Theory question 1Written paper
  • Two defences available to a defendant in negligence. Revise the defences.

  • Insolvency and four consequences of insolvency. Revise meaning and types of insolvency.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2015, Question 1
2
Theory question 2Written paper
  • Explain the term debenture in relation to a company’s securities. Revise the meaning of a debenture and how it differs from a share.

  • Onyi, Okonto and Joe: stealing, the elements, and application to money taken for a purpose and spent otherwise. Revise worked problems 1 and 2.

  • Four duties of a director with comment on Joe who stole and took bribes, and two qualifications for appointment as a director. Revise the duties and worked problem 1.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2015, Question 2
3
Theory question 3Written paper
  • Two requirements of CAMA for a successful transfer of shares in Zee Ltd. Revise the steps for transfer and worked problem 1.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2015, Question 3
4
Theory question 4Written paper
  • Four statutes against bribery, and an explanation of bribery. Revise the offence and the statutes.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2015, Question 4
5
Theory question 5Written paper
6 marks
  • Assignment of an insurance policy, types of assignment, why rights cannot pass by delivery, and when a marine policy is not assignable. Revise assignment.

  • Utmost good faith, material fact, three exceptions to disclosure, and the current law on material facts. Revise utmost good faith.

  • What is misrepresentation, its types and effects. Revise misrepresentation.

  • Three characteristics of a negotiable instrument, and its definition. Revise the meaning and attributes.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2015, Question 5
6
Theory question 6Written paper
5 marks
  • Two types of bill of exchange. Revise the types of bill.

  • Del credere agent, and short notes on a broker and an auctioneer. Revise the four special agents.

  • Five duties of a personal representative. Revise the duties.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2015, Question 6

November 2015 diet

0 objective and 6 theory
0 objective6 theory45 theory marks set
No.SectionMarksCovers
Q14Four circumstances in which a director must vacate office (8 marks), and two ways shareholders influence the board (5...
Q220From the Business Law paper set under the previous syllabus. Part (a) asks for four documents filed with the CAC, exp...
Q315Three fraud offences explained, and three items that amount to fraudulent false accounting. Revise the fraud-related ...
Q4Meaning of negligence and its three elements. Revise negligence.
Q56Three ways by which a contract may be discharged. Revise discharge of a contract.
Q6The meaning of goods under the Sale of Goods Act. Revise goods.

Theory questions Written questions

1
Theory question 1Written paper
4 marks
  • Four circumstances in which a director must vacate office (8 marks), and two ways shareholders influence the board (5 marks). Revise vacation of office, removal and the general meeting.

  • Two consequences of winding up on the shareholders. Revise the consequences for shareholders.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2015, Question 1
2
Theory question 2Written paper
20 marks
  • From the Business Law paper set under the previous syllabus. Part (a) asks for four documents filed with the CAC, explained briefly (10 marks). Revise the full list of documents.

  • Two ways of removing an auditor of a company. Revise removal and the ways the examiners accepted.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2015, Question 2
3
Theory question 3Written paper
15 marks
  • Three fraud offences explained, and three items that amount to fraudulent false accounting. Revise the fraud-related offences.

  • The limit on cash payments and on international transfers. Revise the cash limits and international transfers.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2015, Question 3
4
Theory question 4Written paper
  • Meaning of negligence and its three elements. Revise negligence.

  • Conditions for the admissibility of computer and electronic evidence. Revise section 84 and worked problem 3.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2015, Question 4
5
Theory question 5Written paper
6 marks
  • Three ways by which a contract may be discharged. Revise discharge of a contract.

  • Four essential elements of a valid contract. Revise the five elements.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2015, Question 5
6
Theory question 6Written paper
  • The meaning of goods under the Sale of Goods Act. Revise goods.

  • Three, four and six types of agent. Revise the classes of agent.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2015, Question 6
Source and reference. These questions come from the Institute of Chartered Accountants of Nigeria (ICAN) Pathfinder for the Foundation Level Examination, Corporate and Business Law, 2015. When you use them, please cite the source, for example: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May or November 2015. Each question carries its own reference and a button to copy it.