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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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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
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As part of the duty, a director of a company stands in a fiduciary relationship towards the company and shall observe the utmost good faith towards the company in a transaction with it or on its behalf. He or she shall act at all times in what the director believes to be the best interests of the company as a whole so as to preserve its assets, further its business, and promote the purposes for which it was formed, and in a manner that a faithful, diligent, careful, and skillful director would act in the circumstances. Besides, a director is not to use for his or her own advantage the money or property of the company or confidential information or special knowledge obtained in his or her capacity.
Required:
List THREE (3) civil liabilities that are to be brought against a director who commits a breach of duty and violates the rules regarding conflict of interest.
(6 marks)
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Find Related Questions by Tags, levels, etc.
The Police Authorities on behalf of the Government of the Republic of Taga offers a reward of GH¢10,000 to any person who provides information leading to the arrest and conviction of two suspected armed robbers. The robbers who rode on a motorbike shot and killed a policeman directing traffic on one of the busiest highways of the city of Rac.
Unaware of the reward, Kweku Minsu gave the information that led to the arrest of the armed robbers. He was later prompted by his friend Minimini to make a claim for the reward. He then went to make a claim for the reward but the Police Authorities refused.
Required:
Explain why the Police Authorities refused to give the reward to Kweku Minsu? (5 marks)
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a) When Ozozo was about to travel out of the country, he promised his wife Julie that he would remit her the equivalent of GH¢2,000 every month for the upkeep of the house. However, when he got to his destination, after sending money for two months he failed to honour the promise. He has just returned after two years stay outside the country. Julie has approached you to advise her whether she can claim the arrears in the contract with Ozozo.
Ozozo promised his daughter Anita before travelling that, he would buy a car for her on his return. Anita insisted that her father put that promise into writing and sign, which he did. On his return, Ozozo is dragging his feet in respect of his promise.
Required:
i) List FOUR elements of a valid contract. (4 marks)
ii) Explain to Julie whether the agreement with Ozozo constituted a valid contract. (3 marks)
iii) Advise Anita on the effect of putting the agreement in writing. (3 marks)
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a) The presumption of undue influence arises in confidential or fiduciary relationships. The presumption of undue influence applies when the relationship between the parties is such that one of them is, by reason of the confidence reposed in him by the other party, able to take unfair advantage of the other.
Required: State the fiduciary or confidential relationships which are recognized by the law as raising a presumption of undue influence in relationships between parties. (5 marks)
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