2017_1 TMA Solutions - COP315, Cooperatives Law

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2017_1 TMA Solutions - COP315, Cooperatives Law

Postby admin » Thu Sep 28, 2017 12:13 am

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1 How will you justify the assertion that says that members of the Cooperatives will buy shares before becoming members.

Not Correct


2 Where did the court hold that an ultra vires contract is void and cannot be ratified even by the numerous consent of the shareholders?

Ashbury Railway Carriage & Iron Co. v. Riche


3 “Charity cannot sit at the boardroom table and there are no cakes and ale except for the benefit of the company”. In which of the following cases was this statement made?

Hutton v. West Cork Railway Co.


4 “Charity cannot sit at the boardroom table and there are no cakes and ale except for the benefit of the company”. Who is credited withthis statement?

Bowen L.J.


5 Which Section of the Company and Allied Matters Act, 1990, provides as follows? “a company shall not have or exercise power either directly or indirectly to make a donation or gift of any of its property or funds to a political party or political association, or for any political
purpose”.


Section 38 (1)


6 Megginson, Trueblood and Ross in their joint effort authored a book, what is the title?

“BUSINES S”


7 Which of the following must be involved in a valid Mission Statement?

Mission of the organisation, sometimes broadly stated,
The organisation‟s assets or key strengths
“A description of the business the organisa tion is in
***All of the Above


8 Who is known to be the General Manager, Burson-Marsteller?

Ferdinand de Bakker


9 Who strongly advocated that every successful mission statement must have five key components?

Ferdinand de B akker


10 “A healthy business, a healthy university, a healthy hospital, cannot exist in a sick society. Management has a self-interest in a healthy society, even though the cause of society‟s sickness is none of the management‟s making”. This is a statement credited to who?

Peter Druck er


11 A firm‟s obligation to set policies, make decisions, and follow courses of action that are desirable in terms of the values and objectives of society” is known as what?

Corporate Social R esponsibility


12 What will make a business organisation to be acting responsibly within the framework of the legal system of its operating environments?

Sensitivity to social issues


13 Which of the following is a ground for making a contract void?

undue influence
Insanity
Lack of capacity
***All of the Above


14 A contract which is not required to be under seal is known as what?

Informal Contract


15 A specialty contract or contract made by deed is known as what?

Formal Contract


16 A contract under seal is called what?

Formal Contract


17 Which of the following is one of the effects of the vitiating elements of contract?

Some will completely void the contract
Others render it unenforceable by one p arty against the other
And yet some others will render the contract voidable
***All of the Above


18 Which of these is not a vitiating element of a valid contract?

Mistake
Misrepresentation
Illegality of the co ntract
***None of the above


19 Which of these is not one of the elements of a valid simple contract?

Offer and Acceptance
Intention to Create Le gal Relations
Consideration
***None of the ab ove


20 A promise or set of promises which is legally binding on both the promisor and the promise and is therefore enforceable in law is known as what?

Contract


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Re: 2017_1 TMA Solutions - COP315, Cooperatives Law

Postby admin » Thu Sep 28, 2017 12:17 am

1 Cooperative Societies are statutorily bound to give loan to non registered members. Justify

Correct


2 Cooperative Societies are Volountary. Justify

Correct


3 Which provision of the law provides for the issuance of a Certificate of Registration signed, sealed and delivered by the Director of Cooperative to the Cooperative Society?

Section 7 of the Cooperative Society Laws of 1993


4 A company which has no limit to the amount of liability which members can incur in the event of Liquidation and which members have to contribute, if possible from various other sources to pay for the debt of the company or cooperative society is known as what?

Unlimited Liability Company


5 A Company in which the liability of members is limited by the Memorandum to the amount of unpaid shares is known as what?

Company Limited by Shares


6 A cooperative organisation whose membership is made up of secondary cooperative societies is known as what?

Apex Cooperative Society


7 A cooperative organisation whose membership is made up of primary cooperative societies is referred to as what?

Secondary Cooperative Socie ty


8 A cooperative organisation whose membership is made up of at least ten persons can be referred to as what?

Primary Cooperative Society



9 A legal person formed by a group of people for the purpose of carrying on certain activities, especially trading for profit is referred to as what?

Corporation Aggr egate


10 The organisation that has a post which is usually occupied by series of successive human beings like the General Overseer of a Church and the Vice Chancellor of a University are known as what?

Corporation Sole


11 How many types of corporation exist in law?

2


12 Cooperative societies are artificial entities which the law regards as existing once the procedure for their establishment has been complied. Justify this.

Correct


13 How many distinct categories of persons are recognised under the Law?

2


14 Which of the following is a part of the qualification for the appointment of the Director of Cooperatives?

must be of sound mind
must not be a bankrupt
should not be an ex-con vict
***All of the Above


15 Which Law provides for the appointment of a Federal Director of Cooperatives?

Section (1) Cooperative Societies Act of 1993


16 Which of the following forms part of divorce process on the ground of a wife’s adultery under the Common Law?

Action of “criminal conversation” by the aggrie ved party to recover damages from the adulterer in the Common Law Court


17 Which of the following is not a problem identified with the Common Law?

Flexibility


18 Reasonability, acceptability throughout the land, existence from time immemorial are all parts of the criteria a general custom must meet to be incorporated into the Common Law.

Correct


19 Which of the following is not a condition to satisfy for a local custom to be incorporated into Common Law?

It must be reasonable
It must be of immemo rial antiquity
It must not be in conflict with the S tatute law
***None of the above


20 Who is credited with the statement “The practice of a particular place is called a custom. A general immemorial practice throughout the realm is the Common Law”?

Best J.
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Re: 2017_1 TMA Solutions - COP315,

Postby admin » Thu Sep 28, 2017 12:21 am

1 In which case was it held that “The practice of a particular place is called a custom’’?

Blundell v. Catterall, 1821


2 Which of the following forms part of the remedies available at common law?

Severe punishment for crimes
Compensation
Possession of land or items of value
***All of the Above


3 The latin maxim ‘’lex et consuetude angliae’’ means what?

Law and Custom of England


4 How many Kingdoms are in Anglo-Saxo England?

Seven Kingdoms


5 Which Ordinance expressly provided that the Common Law, the doctrines of Equity and Statute of general application which were in force in England on 24 July 1874 shall be in force in Nigeria?

Ordinance No. 4 of 1876


6 Which ordinance decreed that, “All laws and Statutes which were in force within the realm of England, on 1 January 1863, not being inconsistent with any Ordinance in force in Lagos Colony or with any Rule made in pursuance of any such ordinance, were deemed and taken to be in force”?

Ordinance No. 3 of 1863


7 The Common Law; The Doctrines of Equity and Statutes of General Application in force in England are all part of which laws?

The Received Eng lish Law


8 The part of English law that operated then Nigeria and still operates in Nigeria now is referred to as what?

The Received English Law


9 When was English law introduced into the Lagos Colony?

1861


10 The extent to which the law is or is not indigenous or native to the land in which it operates is known as what?

Autochthon ism


11 Which theory of the source of law stipulates that “the society is made up of series of conflicting and competing groups, and law and legal system is a dictate of the wealthy and powerful in the society to perpetuate their positions and class interests’’?

Conflict Theory


12 The theory based on a “legal system as a product of consensus idea of society, functioning as an integrated structure, whose members agree on the norms, rules, and values, which they have mutually and voluntarily agreed should be uniformly respected’’ is known as what?

Consensus Theo ry


13 Which of the following is not part of the theory of the Sources of Law?

Consensus Theory
Conflict Theory
Other Theory
***None of the a bove


14 According to Legal writers how many theories of Sources of Law exists?

3


15 Which of the following is not part of the categories of Source of Law according to Professor Elias?

English Common law, th e doctrines of English Equity


16 Statutes of general applications in force in England on 1st January, 1900; Local legislation, and Judicial Precedents are all parts of the categorisation of the Sources of Law according to Prof Elias. Justify this assertion.

Correct


17 According to Professor Elias, the “Source of Law” can be divided into how many categories?

6


18 What was the main aim of “Equitable Pioneer of Rochdale”?

Getting supply of basic consumer goods from source at low cost for the b enefit of the members


19 The origin and authoritative statement from which the substance of the law is derived is known as what?

Source


20 The Latin term’’ fons juris’’ can be interpreted to mean what?

Sources
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Re: 2017_1 TMA Solutions - COP315,

Postby admin » Thu Sep 28, 2017 12:23 am

1 Which of the following is not one of the functions of Legislature?

Decide the nature of organisation necessary for carrying out the activities.
Determine the personnel that would be required for the organisation.
Determines the rules of procedure to be employed by the organisation.
***None of the above


2 In which case was it held that inter alia, that the Directive Principles can be made justiciable through legislation?

The Indian case of Mangru v Commissioners of Budge Municipality


3 In which case did the court hold that the Bendel State House of Assembly could not investigate the affairs of a limited liability company under the investigative powers granted to it by virtue of section 120 of the 1979 Constitution?

Oil Palm Company Limited v. Attorney General, Bendel State


4 The cooperative organisation whose membership is made up of secondary cooperative societies is known as what?

Apex Cooperative Society


5 The Cooperative Society registered with the principal object of making loans available to other registered societies is called what?

Central Financing Society


6 The Cooperative Society formed by people with common interest either as residents of a particular area or trader in a particular commodity with at least ten (10) persons who have individually satisfied the provision of Section 24 is known as what?

Primary Cooperative Socie ty


7 Which of the following types of Cooperative Societies belongs to the classification by the cooperative law?

Primary Cooperative Society
Central Financing Society
Secondary Cooperative Or ganisation
***All of the Above


8 How many types of Cooperative Societies do we have?

5


9 From where is the definition of Cooperative as “a voluntary association of individuals, united by common bond, who have come together to pursue their economic goals for their own benefit” derived from?

The Cooperative Societies Decree 1993


10 The definition of Cooperative as “legally recognized as such which is subject or organised supervision and which claim to follow cooperative principles” is given by who?

The United Nations Research on Socia l Development


11 Who is credited with the statement ‘’“Factor” is a person to whom goods are consigned for sale by a merchant residing abroad or at a distance away from the place of sale and who normally sells in his own name without disclosing that of his principal’’?

The International Labour Organisation


12 What is the current Cooperative legislation applicable in Nigeria?

The Nigeria Cooperative Society Decree 90 of 1993


13 The first legislative attempt to recognizing Cooperative concept in Nigeria brought to existence which law?

Cooperative Ordinance No. 39 of 1935


14 The first legislative attempt to recognizing Cooperative concept in Nigeria is traceable to which year?

1935


15 When was the first indigenous cooperative society in Nigeria recorded?

1926


16 What trade was associated with the initial members of “Equitable Pioneer of Rochdale”?

Weavers


17 How many were the initial members of “Equitable Pioneer of Rochdale” ?

28 members


18 What was the main aim of “Equitable Pioneer of Rochdale”?

Getting supply of basic consumer goods from source at low cost for the b enefit of the members


19 Where was “Equitable Pioneer of Rochdale” formed?

England


20 When was “Equitable Pioneer of Rochdale” formed?

15th of August, 1944


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