Question Tag: Company Formation

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BCL – Nov 2024 – L1 – Q5b – Registrar’s Power to Refuse Firm Registration

Circumstances under which the Registrar of Companies may refuse to register a firm or partnership.

The Registrar of Companies may refuse to register a firm or partnership.

Required:
Under what conditions will the Registrar of Companies in his opinion refuse to register a firm/partnership?

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BCL-Nov-2024-L1-Q2b- Pre-incorporation Contracts & Fiduciary Duty

Legal advice on pre-incorporation contract expenses and secret profits between business associates.

Darkoa lives in the United States of America (USA) and asked his long-time friend, Gyankoroma, to register a company for her in Ghana. Gyankoroma spent GH¢20,000 on documentation, filing, and processing (with the issuance of receipts being in Gyankoroma’s name). Upon the request of Darkoa, Gyankoroma rented an office premises for one year at GH¢40,000 with the receipt in the name of the newly formed company.

Darkoa just returned from the USA to start operations. Darkoa discovered that the rental agent gave GH¢4,000 to Gyankoroma as inducement for the office deal. Darkoa appointed Gyankoroma as head of operations and refused to pay the registration expenses on the basis that Gyankoroma’s monthly salary as head of operations is more than GH¢20,000 and those expenses should be borne from the secret profits Gyankoroma had earlier enjoyed.

Required:
Based on your knowledge in pre-incorporation contracts, advise the parties.

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BL – May 2012 – L1 – SB – Q1A – Company Law

Advise on the items to include in the Memorandum of Association and documents of incorporation.

(a) Ngozi and Kolade are promoters of a new company. You are required to advise them on the following:
(i) FIVE items they must include in the Memorandum of Association; (5 Marks)
(ii) FIVE documents of incorporation to be filed. (5 Marks)

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BL – Nov 2011 – L1 – SA – Q5 – Company Law

Identifying the clause in a memorandum that states the liability of members in a company.

Which clause in the memorandum states that the liability of its members is limited by shares or guarantee or unlimited as the case may be?

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BMF – MAY 2015 – L1 – SA – Q10 – Business and Organizational Structures and Choices

Requirements for incorporating a limited liability company, excluding non-essential documents.

The following are required to incorporate a limited liability company EXCEPT:

A. Memorandum of Association
B. Articles of Association
C. Statement of authorised share capital
D. Location of the registered office
E. Source of finance

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BL – Nov 2014 – L1 – SA – Q4 – Company Law

Identifying the minimum number of persons required to form a Public Limited Liability Company

The minimum number of persons that could form a Public Limited Liability Company is
A. 28
B. 21
C. 14
D. 7
E. 2

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BL – Nov 2023 – L1 – SA – Q8 – Company Law

This question asks about the binding nature of pre-incorporation contracts.

Pre-incorporation contracts are:
A. Binding on the company
B. Not binding on the company at all
C. Binding on the company after ratification
D. Binding on the Board of Directors
E. Binding on the third party involved

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BCL – May 2016 – L1 – Q5d – Company Law

Explain how a company acquires interests in pre-incorporation contracts and the legal position of persons acting on behalf of the company.

Briefly explain how a company acquires interests in pre-incorporation contracts, and the legal position of a person purporting to act on behalf of the company with respect to those contracts. (10 marks)

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BCL – May 2016 – L1 – Q5c – Company Law

State three features of a pre-incorporation contract.

State THREE features of a pre-incorporation contract. (3 marks)

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BCL – May 2016 – L1 – Q5b – Company Law

Define the term "pre-incorporation contract."

What is meant by “pre-incorporation contract”? (2 marks)

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BCL – Nov 2024 – L1 – Q5b – Registrar’s Power to Refuse Firm Registration

Circumstances under which the Registrar of Companies may refuse to register a firm or partnership.

The Registrar of Companies may refuse to register a firm or partnership.

Required:
Under what conditions will the Registrar of Companies in his opinion refuse to register a firm/partnership?

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BCL-Nov-2024-L1-Q2b- Pre-incorporation Contracts & Fiduciary Duty

Legal advice on pre-incorporation contract expenses and secret profits between business associates.

Darkoa lives in the United States of America (USA) and asked his long-time friend, Gyankoroma, to register a company for her in Ghana. Gyankoroma spent GH¢20,000 on documentation, filing, and processing (with the issuance of receipts being in Gyankoroma’s name). Upon the request of Darkoa, Gyankoroma rented an office premises for one year at GH¢40,000 with the receipt in the name of the newly formed company.

Darkoa just returned from the USA to start operations. Darkoa discovered that the rental agent gave GH¢4,000 to Gyankoroma as inducement for the office deal. Darkoa appointed Gyankoroma as head of operations and refused to pay the registration expenses on the basis that Gyankoroma’s monthly salary as head of operations is more than GH¢20,000 and those expenses should be borne from the secret profits Gyankoroma had earlier enjoyed.

Required:
Based on your knowledge in pre-incorporation contracts, advise the parties.

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BL – May 2012 – L1 – SB – Q1A – Company Law

Advise on the items to include in the Memorandum of Association and documents of incorporation.

(a) Ngozi and Kolade are promoters of a new company. You are required to advise them on the following:
(i) FIVE items they must include in the Memorandum of Association; (5 Marks)
(ii) FIVE documents of incorporation to be filed. (5 Marks)

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BL – Nov 2011 – L1 – SA – Q5 – Company Law

Identifying the clause in a memorandum that states the liability of members in a company.

Which clause in the memorandum states that the liability of its members is limited by shares or guarantee or unlimited as the case may be?

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BMF – MAY 2015 – L1 – SA – Q10 – Business and Organizational Structures and Choices

Requirements for incorporating a limited liability company, excluding non-essential documents.

The following are required to incorporate a limited liability company EXCEPT:

A. Memorandum of Association
B. Articles of Association
C. Statement of authorised share capital
D. Location of the registered office
E. Source of finance

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BL – Nov 2014 – L1 – SA – Q4 – Company Law

Identifying the minimum number of persons required to form a Public Limited Liability Company

The minimum number of persons that could form a Public Limited Liability Company is
A. 28
B. 21
C. 14
D. 7
E. 2

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BL – Nov 2023 – L1 – SA – Q8 – Company Law

This question asks about the binding nature of pre-incorporation contracts.

Pre-incorporation contracts are:
A. Binding on the company
B. Not binding on the company at all
C. Binding on the company after ratification
D. Binding on the Board of Directors
E. Binding on the third party involved

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BCL – May 2016 – L1 – Q5d – Company Law

Explain how a company acquires interests in pre-incorporation contracts and the legal position of persons acting on behalf of the company.

Briefly explain how a company acquires interests in pre-incorporation contracts, and the legal position of a person purporting to act on behalf of the company with respect to those contracts. (10 marks)

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BCL – May 2016 – L1 – Q5c – Company Law

State three features of a pre-incorporation contract.

State THREE features of a pre-incorporation contract. (3 marks)

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BCL – May 2016 – L1 – Q5b – Company Law

Define the term "pre-incorporation contract."

What is meant by “pre-incorporation contract”? (2 marks)

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