2020_1 NOUN TMA Questions and Answers: CLL804 - Business and Company Law

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2020_1 NOUN TMA Questions and Answers: CLL804 - Business and Company Law

Postby Jed » Tue Jun 09, 2020 8:34 am

2020_1 NOUN TMA Questions and Answers: CLL804 - Business and Company Law

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The nature and function of meetings is very critical to every aspect of human life. Whether as a family, association, religious organisation, company, government, you must hold meetings. In the case of company, the decisions are carried through
Answer: resolutions

What section of Companies and Allied Matters makes provision for the powers of a liquidator?
Answer: section 425

Save one the following can bring a petition for winding up by the court:
Answer: the company secretary

It is possible for a company to have one director at the time it commences operations. However, in order to cure this
anomaly the law gives the company
windows within which to remedy it
Answer: six months

When a company defaults in holding its annual general meeting application may be made to the Commission. Who has capacity to do this?
Answer: a member

The Companies and Allied Matters Act in
provides that pursuant to the
provisions in the articles the power to appoint a director may be donated to some particular persons.
Answer: section41(3) cama

Under the Companies and Allied Matters Act three categories of winding up are recognised. They are winding up by the court, voluntary winding up and winding up subject to the supervison of court. This is provided in
Answer: section 401

One of the following is not a type of general meeting of a company
Answer: special general meeting

A shareholder entitled to attend and vote at a meeting of the company is entitled as of right to the appointment of another person in his stead. That person is called
Answer: a proxy

As a fiduciary, the cases in which the director must subject his motivation to self and pelf to the higher interests of the company are but one of the following:
Answer: where he participates in professional conference

Where the company is the petitioner, one of the following is not a constituent part of the steps involved in the presentation of the petition for winding by the court
Answer: all of the options

Section 246 of CAMA provides that every registered company in Nigeria must have no
less than on or after
Answer: two directors

Although a director stands in fiduciary relationship towards the company, he can under permissible circumstances fetter his discretion and therefore vote in a particular way or manner
Answer: disagree

The power to enforce the observance of the fiduciary duties of the director is donated to the exclusion of all persons to
Answer: the company

Which of the following fell outside the steps expected to be taken in a memberVs voluntary winding up of a company
Answer: relieving the company secretary

The business of the company shall be managed by the board of directors who may exercise all such powers of the company or the articles required to be exercised by the members in general meeting. This can be found in
Answer: section 63(3) of cama

The core duty of a director is that he is a fiduciary bound, by this reason, to act honestly at all times in his capacity as such. This can be found in
Answer: section 279 cama
What is the time period within which the liquidator must forward his accounts including a statement of the holding of the relevant general meeting of the company.
Answer: 28 days

Where the board acted ultra vires which act is intra vires in relation to the company, what option is open to the latter if it desires not to upbraid the board:
Answer: the articles

The interest of a member who is entitled to the capital or income of a company means
Answer: a share

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