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Foundation level · Corporate and Business Law

Corporate and Business Law · May 2021

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

5 questions5 theory12 topics to revise
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2021

May 2021 diet

0 objective and 5 theory
0 objective5 theory15 theory marks set
No.SectionMarksCovers
Q2Explain receivership (2 marks), and how a court-appointed receiver distributes the assets (4 marks). Revise receivers...
Q3Onyi, Okonto and Joe: stealing, the elements, and application to money taken for a purpose and spent otherwise. Revis...
Q46Distinguish an offer from an invitation to treat, and advise Daniel on the vaccine reward (5 marks). Revise invitatio...
Q53Three classes of goods, and classification with its significance. Revise the classes of goods.
Q66Osagie’s cheque returned unpaid: reasons the bank may be wrong and reasons it could disclose the account. Revise the ...

Theory questions Written questions

2
Theory question 2Written paper
  • Explain receivership (2 marks), and how a court-appointed receiver distributes the assets (4 marks). Revise receivership and the distribution of proceeds.

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 2021, Question 2
3
Theory question 3Written paper
  • Onyi, Okonto and Joe: stealing, the elements, and application to money taken for a purpose and spent otherwise. Revise worked problems 1 and 2.

  • GSM phone evidence, and conditions for admissibility of electronic evidence. Revise GSM, ATM and tape recordings.

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 2021, Question 3
4
Theory question 4Written paper
6 marks
  • Distinguish an offer from an invitation to treat, and advise Daniel on the vaccine reward (5 marks). Revise invitation to treat, Carlill and worked problem 2.

  • Meaning of negligence and its three elements. Revise negligence.

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 2021, Question 4
5
Theory question 5Written paper
3 marks
  • Three classes of goods, and classification with its significance. Revise the classes of goods.

  • Five and four ways of terminating a hire purchase agreement (Kabir and the bus). Revise termination and worked problem 2.

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

  • How an arbitral panel is composed or constituted. Revise the composition of the tribunal.

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 2021, Question 5
6
Theory question 6Written paper
6 marks
  • Osagie’s cheque returned unpaid: reasons the bank may be wrong and reasons it could disclose the account. Revise the bank’s duties and worked problem 1.

  • Three certainties of a trust, and Esero’s trust over his housing estate. Revise the certainties, the Statute of Frauds and worked problem 2.

  • Applying the organisation test to distinguish contract of employment from contract for employment. Revise the tests.

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 2021, 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 2021. When you use them, please cite the source, for example: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2021. Each question carries its own reference and a button to copy it.