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Foundation level · Corporate and Business Law

Corporate and Business Law · May 2018

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

6 questions6 theory15 topics to revise
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2018

May 2018 diet

0 objective and 6 theory
0 objective6 theory13 theory marks set
No.SectionMarksCovers
Q1What is misrepresentation, its types and effects. Revise misrepresentation.
Q24Four reasons for which a company may refuse to register a share transfer. Revise the grounds for refusal.
Q33Three tests of company insolvency, stated and explained. Revise the four tests.
Q4The accountant as an expert witness in a computer fraud case. Revise the roles of the accountant.
Q56Advising a person or company transferring US dollars to Nigeria. Revise the reporting rule, the contents of the repor...
Q6Three grounds on which an employer may dismiss, and the difference between dismissal and interdiction. Revise dismissal.

Theory questions Written questions

1
Theory question 1Written paper

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

  • Three conditions for agency of necessity, and the types of agency created when James tells Tony to collect rent and later accepts rents collected without authority. Revise the creation of agency 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.

Revise this question

Law of contract (ii): terms, vitiating factors, discharge and remedies › Vitiating factorsAgency › Creation of agency
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2018, Question 1
2
Theory question 2Written paper
4 marks

  • Four reasons for which a company may refuse to register a share transfer. Revise the grounds for refusal.

  • Offer and acceptance in insurance: the proposal form, its completion, the premium, and an agent completing the form. Revise formation.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.

Revise this question

Company capital and securities › Transfer of sharesInsurance › Formation of the contract
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2018, Question 2
3
Theory question 3Written paper
3 marks

  • Three tests of company insolvency, stated and explained. Revise the four tests.

  • State three types of debentures. Revise the table of types.

  • Adex Plc and the secretary who hired luxury cars, then three matters the notice of removal must contain. Revise authority and removal, and worked problem 1.

  • The company secretary who hired cars as an agent of the company. Revise apparent authority 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.

Revise this question

Insolvency, receivership and charges › Insolvency: meaning, types and testsDebentures › The types of debentureCompany secretary, accounting records and financial statements › Removal of the secretaryAgency › Forms of authority
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2018, Question 3
5
Theory question 5Written paper
6 marks

  • Advising a person or company transferring US dollars to Nigeria. Revise the reporting rule, the contents of the report and the time limit, and worked problems 1 and 2.

  • Validity of three bills: Kwame, James and Jossy. Revise the requirements and worked problem 1.

  • Three rights of an unpaid seller over the goods. Revise lien, withholding delivery and stoppage in transit.

  • Exceptions to the rule that all persons of full age may sue and be sued in tort. Revise capacity in torts.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.

Revise this question

Bribery, money laundering and the accountant as expert witness › Worked problemsNegotiable instruments › The bill of exchangeSale of goods (ii): rights, duties and remedies of seller and buyer › The unpaid sellerLaw of torts: negligence, vicarious liability and passing off › Capacity in torts
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2018, Question 5
6
Theory question 6Written paper

  • Three grounds on which an employer may dismiss, and the difference between dismissal and interdiction. Revise dismissal.

  • Rights of the owner against a third party who acquired no good title. Revise the third party section.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.

Revise this question

Employment law › DismissalHire purchase › The third party in a hire purchase contract
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2018, 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, May 2018. When you use them, please cite the source, for example: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2018. Each question carries its own reference and a button to copy it.