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(a) State the difference between a Private Limited Liability Company and a Public Limited Liability Company (b) Briefly describe how a Private Limited Liability company may be converted into a Public Limited Liability Company.
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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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Amevo is a minor and a professional dancer. He entered into a contract to perform a series of dances for GH¢5,000 an hour per night of performance. The rule as accepted was that failure to perform in one series without reasonable excuse would incur a percentage deduction from his earnings at subsequent performances. Amevo failed to perform at one of the series. His attention was drawn to the rule, but he now thinks the deduction should not be made.
Required:
Advise Amevo.
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An undischarged bankrupt is NOT legally incapacitated to do ONE of the following:
A. To marry a wife
B. To be elected into an elective office
C. To be appointed to or to act in the office of a Justice of Peace
D. To be appointed as a trustee of a trust estate
E. To be admitted to serve on a governing board of a statutory institution
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Kwesi Mensah agreed to write a series of articles for Akem Juvenile Library on costume and ancient armour, to be published by instalments in Junior Graphic. When the work was partly completed up to about 70%, Akem Juvenile Library abandoned the series, without justification and or notice. Two publications have been done in Junior Graphic.
i) Explain whether Kwesi Mensah would be entitled to some remuneration in the circumstance of the facts of the case. (5 marks)
ii) Explain TWO (2) situations in which a contract can be discharged. (5 marks)
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Pepo Ghana Ltd operated three accounts at the Arena branch of Coin Bank Ltd. On 27 May 2020, the Financial Intelligence Centre (FIC) in a letter, directed Coin Bank Ltd to freeze all the accounts of Pepo Ghana Ltd.
i) Explain money laundering and explain TWO (2) stages of money laundering. (6 marks)
ii) List TWO (2) anti-corruption institutions in Ghana.
(4 marks)
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Find Related Questions by Tags, levels, etc.
A Company known as Asempa Quarry Ltd, invited tenders for the supply of 2000 bulldozers to be delivered within seven months. Maxwell put in a tender intimating that he is prepared to supply the bulldozers at fifty thousand Ghana Cedis (GH¢50,000.00). The company accepted the tender by a letter, and subsequently gave various orders which were executed by Maxwell. The Director of Finance claims there is no valid agreement to support the payments.
Required:
i) State briefly the legal effect of the company’s actions.
(6 marks)
ii) The maxim “Caveat Emptor” and “Caveat Venditor” sound a note of caution to contracting parties.
State THREE (3) things that are required of a wary contracting party. (6 marks)
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Find Related Questions by Tags, levels, etc.
b) Three friends pooled their resources to form a company. After some time and while the company was running, differences arose among them. Each claimed ownership of the company.
Required: Explain the concept of legal personality of a Company in the light of the above facts. (7 marks)
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Find Related Questions by Tags, levels, etc.
On 20 November 2015, the ‘Daily Graphic Newspaper’ advertised a promotion sale for Dabenda Company Limited stating that the Company’s “Miracle Balm” was capable of treating boils and foot-rot and that whoever bought the product and used it per the prescription without the boils and foot-rot disappearing would be entitled to GH¢200.00. Pursuant to that promise, the Company gave a standing order to its bankers on that pledge. The promotion sale was due to end on 19 November 2016.
Madam Akua Mansah heard of the advertisement and bought one of the balms. She used it according to the prescription and also applied some of the cream to her 14-year-old daughter who had similar problems but their boils and foot-rot still persisted. She intends to sue the Company.
Required:
i) Explain whether Madam Akua Mansah is likely to succeed with her intended action. (10 marks)
ii) Madam Akua Mansah’s daughter also intends to take action against the company. Explain her chances, if any. (10 marks)
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c)
i) Define a ‘condition’ as in the law of contract. (3 marks)
ii) Define ‘warranty’ as in the law of contract. (3 marks)
iii) Keita books for a hotel facility and pays in advance. The hotelier tells him nothing more than the issue of a receipt. Keita takes occupancy of the room only to read a list of DONTS posted at the back of the door of his room. The following day he returned from breakfast in the hotel to find that his wristwatch which he left on the table of the room was missing. He spoke to the receptionist at the reception desk on the loss but they referred him to an exclusion clause on the door. He seeks your advice. Advise Keita. (4 marks)
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Find Related Questions by Tags, levels, etc.
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