- 18 Marks
PBL – APR 2014 – L1 – Q8 – Tort Liabilities in Banking
Definition of contributory negligence and examples of when a bank commits conversion in tort.
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Level: Level 1
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- 18 Marks
PBL – APR 2014 – L1 – Q7 – Consideration in Contract Law
Explanation of the principle that consideration must be sufficient but not adequate, and application to a scenario involving partial debt settlement.
Question
A) “Consideration must be real or sufficient but need not be adequate”. Explain
B) A owed B the sum of GHS1,000.00. B promised to accept the sum of GHS500.00 from A in full settlement of the debt. A agreed and made payment to B accordingly. B now demands the payment of the balance of GHS500.00. Explain whether or not B can succeed.
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- 18 Marks
PBL – APR 2014 – L1 – Q6 – Default and Remedies under Home Mortgage Finance Act
Scenario of a borrower failing to pay an installment on a home mortgage loan under Act 770; queries on steps the bank should take, when default occurs, and remedies available to the bank.
Question
KB borrowed GHS50,000.00 from XYZ Bank Limited (under the Home Mortgage Finance Act, 2008 (Act 770)) to enable him to complete his residential property. KB has failed to make an instalment payment on a due date.
A) What steps should the bank take and when will KB be considered to be in default?
B) What remedies are available to XYZ Bank upon KB’s default?
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- 18 Marks
PBL – APR 2014 – L1 – Q5 – Grounds for Court-Ordered Winding Up of a Company
Grounds on which a court will order the winding up of a company.
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- 18 Marks
PBL – APR 2014 – L1 – Q4 – Qualification as Child and Intestate Estate Distribution
Who qualifies as a child under the Intestate Succession Act, 1985 (PNDCL 111), and how to distribute the residue of an intestate estate among surviving spouse, children from different marriages, and parent.
Question
A) who qualifies as a child under the Intestate Succession Act, 1985 (PNDCL 111) 6 Marks
B) Mrs. A died intestate in 2006. she owned no house, but the residue of her estate amounted to GHS60,000. she is survived by her husband, Mr. A, and two children by Mr. A who are all of age. She had two daughters by a previous customary marriage who are all alive. Mrs A’s mother is dead but the father is alive and so are many members of her family. Indicate how the residue of Mrs A’s estate would be distributed. 12 Marks
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- 18 Marks
PBL – APR 2014 – L1 – Q3 – Lower Courts and Civil Jurisdiction of Circuit Court in Ghana
Identification of the lower courts in Ghana's judicial system and the components of the civil jurisdiction of the circuit court.
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- Tags: Circuit Court, Civil Jurisdiction, Court System, Dispute Resolution, Ghana Judiciary, Lower Courts
- Level: Level 1
- Topic: Conflict Resolution
- Series: APRIL 2014
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- 18 Marks
PBL – APR 2014 – L1 – Q2 – Origins of Common Law and Equity, Property Sharing in Succession
Tracing the historical origins of Common Law and Equity, and determining the sharing of property left in a will to two children of different ages.
Question
a.) Briefly trace the origins of Common Law and Equity
b.) A father on his death left GHS50,000.00 in his will for his two children B and C. B is 10 years older than C. Indicate how the property will be shared between them.
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- Tags: Common Law, Equity, Historical Development, Origins, Property Distribution, Succession, Testate Succession, Will
- Level: Level 1
- Topic: Sources of Law
- Series: APRIL 2014
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- 28 Marks
PBL – APR 2014 – L1 – Q1 – Promissory Notes, Bills of Exchange, and Endorsements
Definition of promissory note, differences from bill of exchange, requirements for valid endorsement, and promises/admissions of endorser.
Question
A) Define a promissory note.
B) Indicate the differences between a promissory note and a bill of exchange 12 marks
C) Outline any four requirements of a valid endorsement.
D) The endorser of a bill of exchange makes certain promises and admissions to the holder of a bill. Describe briefly these promises and admissions.
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- Tags: Bill of Exchange, Endorsement, Holders Rights, Negotiable Instruments, Promissory Note
- Level: Level 1
- Topic: Cheques and other Means of Payment
- Series: APRIL 2014
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- 20 Marks
PBL – APR 2024 – L1 – Q1 – Negligence in Consumer Product Liability
Advise Yaa Asantewaa on a negligence case against Denice Breweries after she was injured due to kerosene found in a bottle of Denice Ginger Beer.
Question
Yaa Asantewaa bought and drank Denice Ginger Beer manufactured by Denice Breweries. She got injured because kerosene was found in the bottle of the ginger beer. Advise Yaa Asantewaa on a case of negligence against Denice Breweries.
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- Tags: Consumer Protection, Duty of Care, Ghanaian Law, Negligence, Tort Liability
- Level: Level 1
- Topic: Law of Tort
- Series: APR 2024
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- 20 Marks
OGMT – Feb 2020 – L1 – Q5 – Tax Liability Computation
Compute Gold Resources Ltd.'s tax liabilities for 2018, including mineral royalty, income tax, and withholding tax.
Question
Gold Resources Ltd. is a mining company operating in the Sparrows Mine and Dove Mines in Ghana. Sparrows Mine shares a processing plant with Dove Mines, and both mines commenced commercial production in 2018. At the close of business on December 31, 2018, Gold Resources Ltd. acquired 20% exploration and production rights in the Eagle Mine which is a production mine for GH₵25,000,000.
The highlights of 2018 revenue and expenditure disclosed in tax returns filed by Gold Resources Ltd. include the following:
| Revenue | GH₵ |
|---|---|
| Gross income from its operations in 2018 | 300,000,000 |
| Hedging Income | 3,000,000 |
| Interest Income | 1,000,000 |
| Consideration realised from the sale of assets | 800,000 |
| Gross Dividend from a resident company in which it has 30% voting rights | 200,000 |
| Total Revenue | 305,000,000 |
Expenses include the following:
| Expenses | GH₵ |
|---|---|
| Reconnaissance & Prospecting Cost (Sparrows Mine) | 45,000,000 |
| Reconnaissance & Prospecting Cost (Dove Mines) | 35,000,000 |
| Depreciation | 12,000,000 |
| Exploration & Production Rights (Eagle Mine) | 25,000,000 |
| Expenses on Hedging transactions | 5,000,000 |
| Cost of the assets sold | 300,000 |
| Administrative Expenses | 10,000,000 |
| Profit before tax | 120,000,000 |
Required: Compute the tax liability for each tax type that Gold Resources Ltd will be liable to pay in 2018.
Additional Information:
| Item | Rate |
|---|---|
| Income Tax Rate for companies | 25% |
| Mineral Income Tax Rate | 35% |
| Mineral Royalty Rate | 5% |
| Capital Allowance Rate | 20% on straight line basis |
| Dividend Withholding Tax Rate | 8% |
| Interest Withholding Tax Rate | 8% |
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- 18 Marks
PBL – APR 2014 – L1 – Q8 – Tort Liabilities in Banking
Definition of contributory negligence and examples of when a bank commits conversion in tort.
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- 18 Marks
PBL – APR 2014 – L1 – Q7 – Consideration in Contract Law
Explanation of the principle that consideration must be sufficient but not adequate, and application to a scenario involving partial debt settlement.
Question
A) “Consideration must be real or sufficient but need not be adequate”. Explain
B) A owed B the sum of GHS1,000.00. B promised to accept the sum of GHS500.00 from A in full settlement of the debt. A agreed and made payment to B accordingly. B now demands the payment of the balance of GHS500.00. Explain whether or not B can succeed.
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Report an error
- 18 Marks
PBL – APR 2014 – L1 – Q6 – Default and Remedies under Home Mortgage Finance Act
Scenario of a borrower failing to pay an installment on a home mortgage loan under Act 770; queries on steps the bank should take, when default occurs, and remedies available to the bank.
Question
KB borrowed GHS50,000.00 from XYZ Bank Limited (under the Home Mortgage Finance Act, 2008 (Act 770)) to enable him to complete his residential property. KB has failed to make an instalment payment on a due date.
A) What steps should the bank take and when will KB be considered to be in default?
B) What remedies are available to XYZ Bank upon KB’s default?
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Report an error
- 18 Marks
PBL – APR 2014 – L1 – Q5 – Grounds for Court-Ordered Winding Up of a Company
Grounds on which a court will order the winding up of a company.
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- 18 Marks
PBL – APR 2014 – L1 – Q4 – Qualification as Child and Intestate Estate Distribution
Who qualifies as a child under the Intestate Succession Act, 1985 (PNDCL 111), and how to distribute the residue of an intestate estate among surviving spouse, children from different marriages, and parent.
Question
A) who qualifies as a child under the Intestate Succession Act, 1985 (PNDCL 111) 6 Marks
B) Mrs. A died intestate in 2006. she owned no house, but the residue of her estate amounted to GHS60,000. she is survived by her husband, Mr. A, and two children by Mr. A who are all of age. She had two daughters by a previous customary marriage who are all alive. Mrs A’s mother is dead but the father is alive and so are many members of her family. Indicate how the residue of Mrs A’s estate would be distributed. 12 Marks
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- 18 Marks
PBL – APR 2014 – L1 – Q3 – Lower Courts and Civil Jurisdiction of Circuit Court in Ghana
Identification of the lower courts in Ghana's judicial system and the components of the civil jurisdiction of the circuit court.
Find Related Questions by Tags, levels, etc.
- Tags: Circuit Court, Civil Jurisdiction, Court System, Dispute Resolution, Ghana Judiciary, Lower Courts
- Level: Level 1
- Topic: Conflict Resolution
- Series: APRIL 2014
Report an error
- 18 Marks
PBL – APR 2014 – L1 – Q2 – Origins of Common Law and Equity, Property Sharing in Succession
Tracing the historical origins of Common Law and Equity, and determining the sharing of property left in a will to two children of different ages.
Question
a.) Briefly trace the origins of Common Law and Equity
b.) A father on his death left GHS50,000.00 in his will for his two children B and C. B is 10 years older than C. Indicate how the property will be shared between them.
Find Related Questions by Tags, levels, etc.
- Tags: Common Law, Equity, Historical Development, Origins, Property Distribution, Succession, Testate Succession, Will
- Level: Level 1
- Topic: Sources of Law
- Series: APRIL 2014
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- 28 Marks
PBL – APR 2014 – L1 – Q1 – Promissory Notes, Bills of Exchange, and Endorsements
Definition of promissory note, differences from bill of exchange, requirements for valid endorsement, and promises/admissions of endorser.
Question
A) Define a promissory note.
B) Indicate the differences between a promissory note and a bill of exchange 12 marks
C) Outline any four requirements of a valid endorsement.
D) The endorser of a bill of exchange makes certain promises and admissions to the holder of a bill. Describe briefly these promises and admissions.
Find Related Questions by Tags, levels, etc.
- Tags: Bill of Exchange, Endorsement, Holders Rights, Negotiable Instruments, Promissory Note
- Level: Level 1
- Topic: Cheques and other Means of Payment
- Series: APRIL 2014
Report an error
- 20 Marks
PBL – APR 2024 – L1 – Q1 – Negligence in Consumer Product Liability
Advise Yaa Asantewaa on a negligence case against Denice Breweries after she was injured due to kerosene found in a bottle of Denice Ginger Beer.
Question
Yaa Asantewaa bought and drank Denice Ginger Beer manufactured by Denice Breweries. She got injured because kerosene was found in the bottle of the ginger beer. Advise Yaa Asantewaa on a case of negligence against Denice Breweries.
Find Related Questions by Tags, levels, etc.
- Tags: Consumer Protection, Duty of Care, Ghanaian Law, Negligence, Tort Liability
- Level: Level 1
- Topic: Law of Tort
- Series: APR 2024
Report an error
- 20 Marks
OGMT – Feb 2020 – L1 – Q5 – Tax Liability Computation
Compute Gold Resources Ltd.'s tax liabilities for 2018, including mineral royalty, income tax, and withholding tax.
Question
Gold Resources Ltd. is a mining company operating in the Sparrows Mine and Dove Mines in Ghana. Sparrows Mine shares a processing plant with Dove Mines, and both mines commenced commercial production in 2018. At the close of business on December 31, 2018, Gold Resources Ltd. acquired 20% exploration and production rights in the Eagle Mine which is a production mine for GH₵25,000,000.
The highlights of 2018 revenue and expenditure disclosed in tax returns filed by Gold Resources Ltd. include the following:
| Revenue | GH₵ |
|---|---|
| Gross income from its operations in 2018 | 300,000,000 |
| Hedging Income | 3,000,000 |
| Interest Income | 1,000,000 |
| Consideration realised from the sale of assets | 800,000 |
| Gross Dividend from a resident company in which it has 30% voting rights | 200,000 |
| Total Revenue | 305,000,000 |
Expenses include the following:
| Expenses | GH₵ |
|---|---|
| Reconnaissance & Prospecting Cost (Sparrows Mine) | 45,000,000 |
| Reconnaissance & Prospecting Cost (Dove Mines) | 35,000,000 |
| Depreciation | 12,000,000 |
| Exploration & Production Rights (Eagle Mine) | 25,000,000 |
| Expenses on Hedging transactions | 5,000,000 |
| Cost of the assets sold | 300,000 |
| Administrative Expenses | 10,000,000 |
| Profit before tax | 120,000,000 |
Required: Compute the tax liability for each tax type that Gold Resources Ltd will be liable to pay in 2018.
Additional Information:
| Item | Rate |
|---|---|
| Income Tax Rate for companies | 25% |
| Mineral Income Tax Rate | 35% |
| Mineral Royalty Rate | 5% |
| Capital Allowance Rate | 20% on straight line basis |
| Dividend Withholding Tax Rate | 8% |
| Interest Withholding Tax Rate | 8% |
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