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Foundation level · Corporate and Business Law

Corporate and Business Law · November 2023

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

6 questions6 theory22 topics to revise
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023

November 2023 diet

0 objective and 6 theory
0 objective6 theory59 theory marks set
No.SectionMarksCovers
Q120From the Business Law paper set under the previous syllabus. Part (a) asks for sources of Nigerian law and equitable ...
Q220From the Business Law paper set under the previous syllabus. Includes parts on private and public companies. Revise t...
Q33Two of negligence, remoteness of damage and causation. Revise damage, causation and remoteness.
Q45Explain contract of employment, and state grounds of dismissal and duties of an employee. Revise meaning, duties and ...
Q56Four qualifications of a person who may be secretary of a public company. Revise the list.
Q65Umoru’s trust: Godwin declines and Tohib wants to delegate to Murphy. Revise duties of trustees and worked problem 3.

Theory questions Written questions

1
Theory question 1Written paper
20 marks

  • From the Business Law paper set under the previous syllabus. Part (a) asks for sources of Nigerian law and equitable remedies available to a claimant. Revise the sources and the table of remedies.

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 and the sources of Nigerian law › Received English law
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023, Question 1
2
Theory question 2Written paper
20 marks

  • From the Business Law paper set under the previous syllabus. Includes parts on private and public companies. Revise the comparison table.

  • From the Business Law paper set under the previous syllabus. Includes parts on companies and their separate legal personality. Revise the consequences of incorporation.

  • From the Business Law paper set under the previous syllabus. Part (c)(ii) asks for four attributes of a small company (4 marks). Revise the attributes of a small company.

  • Three exceptions to the rule of privity (6 marks), and a distributor who resold above the agreed price. Revise privity and worked problem 3.

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

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

The Corporate Affairs Commission, types of company and incorporation › The company and its classificationConsequences of incorporation and lifting the veil › Consequences of incorporationAnnual returns and company taxation › The small companyLaw of contract (i): nature and formation › Privity of contractAgency › Classes of agent
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023, Question 2
3
Theory question 3Written paper
3 marks

  • Two of negligence, remoteness of damage and causation. Revise damage, causation and remoteness.

  • When ownership passes where no intention appears, and property versus possession. Revise passing of property.

  • Rights of a buyer. Revise the five rights of a buyer.

  • The hirer’s duty to pay instalments after default and repossession, and five elements of a hire purchase agreement. Revise duties and elements.

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 torts: negligence, vicarious liability and passing off › NegligenceSale of goods (i): the contract and the passing of property › Property and possessionSale of goods (ii): rights, duties and remedies of seller and buyer › Rights of the buyerHire purchase › Duties and rights of the parties
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023, Question 3
4
Theory question 4Written paper
5 marks

  • Explain contract of employment, and state grounds of dismissal and duties of an employee. Revise meaning, duties and dismissal.

  • Tatafo and the petrol station, and Abokhasomi who did not disclose his health problems. Revise worked problems 1 and 3.

  • Five specialised banks in Nigeria. Revise the types of bank.

  • Four categories of persons who may petition the court to wind up a company. Revise the section 573 list.

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 › Meaning of employmentInsurance › Worked problemsBanking law › Bank and bankerWinding up and administration of companies › Winding up by the Federal High Court
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023, Question 4
5
Theory question 5Written paper
6 marks

  • Four qualifications of a person who may be secretary of a public company. Revise the list.

  • Forgery (3 marks), false pretences (3 marks) and two immaterial factors (2 marks). Revise false pretences and forgery.

  • 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.

  • Two insolvency practitioners and three qualifications of an insolvency practitioner. Revise the practitioners 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

Company secretary, accounting records and financial statements › Qualifications of the secretaryCriminal law and business: law and ethics, theft, fraud and deception › Fraud-related offencesBribery, money laundering and the accountant as expert witness › Worked problemsInsolvency, receivership and charges › Insolvency practitioners
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023, Question 5
6
Theory question 6Written paper
5 marks

  • Umoru’s trust: Godwin declines and Tohib wants to delegate to Murphy. Revise duties of trustees and worked problem 3.

  • Five persons disqualified from being company auditor. Revise the seven disqualifications.

  • Explain two of click-through, shrink-wrap and browse-wrap. Revise the table of types.

  • Types of e-commerce contract. Covered in the topic on e-contracts. Start here with e-commerce and the law.

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

Trusts › Duties of trusteesCompany audit, the auditor and the audit committee › Persons disqualified from being auditorE-contracts › Types of e-contractApplication of information technology in business › E-commerce and the law of electronic transactions
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023, 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, November 2023. When you use them, please cite the source, for example: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, November 2023. Each question carries its own reference and a button to copy it.