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essentials business law
Business Law 2nd Edition Tejpal Sheth - Solutions
Ultra-vires means(i) Beyond the power; (iii) Both;(ii) Within the power; (iv) None of these
Which of the following need not have an MOA?(i) Public company; (iii) Government company;(ii) Private company; (iv) Statutory Corporation
Address of the registered office is included in ______________(i) MOA; (iii) Balance Sheet;(ii) AOA; (iv) None of these.
In the MOA, there are six clauses. We can alter all clauses expect one clause. Which one is that clause?(i) Objects Clause; (iii) Association clause;(ii) Name clause; (iv) None of these.
Can foreigners be subscriber to the memorandum?(i) yes (ii) No
Can a minor be a subscriber to the memorandum?(i) yes (ii) No
Can a company sign on behalf of a person in the memorandum and the articles?(i) yes (ii) No
Signature of memorandum and articles should be done by ___________number of persons in case of private company(i) 3 (iii) 2(ii) 4 (iv) None of these
Signature of memorandum and articles should be done by ___________ number of persons in case of a public company(i) 7 (iii) 4(ii) 5 (iv) None of these
In case of forgeries, acts done in the name of the company are(i) Valid (iii) Void ab Initio(ii) Void (iv) None of these
If a new company gets registered with a name which resembles the name of the existing company, then to whom it may apply?(i) Central government (iii) ROC(ii) SEBI (iv) None of these
The lending of funds ultra-vires, the company has no rights(i) Under the company’s act; (iii) under equity;(ii) contract act; (iv) none of these.
An act ultra virus the directors can be rectified if it is not ultra-vires(i) The articles (iii) Company Act(ii) The memorandum (iv) Both (ii) and (iii)
The doctrine of does not apply to acts void ab-initio.(i) Ultra virus(ii) Intra virus(iii) Constructive notice(iv) Indoor management
The doctrine of indoor management is an to the doctrine of constructive notice(i) Exception(ii) Extension(iii) Alternative(iv) None of these
What defenses are available to the experts of a company for misstatement in the prospectus? (Ref. Para-19.43)
What defenses are available to promoters of company for misstatement in prospectus? (Ref. Para-19.42)
What defenses are available to directors of a company for misstatement in prospectus? (Ref. Para-19.42)
Discuss a company’s liability for misstatement in prospectus. (Ref. Para-19.41)
Explain the remedial measures available to the shareholder, who had applied for shares on the faith of false prospectus. (Ref. Para-19.41)
Who are liable for misstatement in prospectus? (Ref. Para-19.41)
Write short a note on misstatement in prospectus? (Ref. Para-19.40)
What is self prospectus? Which company can issue it? (Ref. Para-19.39)
When registrar of company shall refuse to register the prospectus? (Ref. Para-19.38)
What are the contents of a prospectus? (Ref. Para-19.37)
What is red-herring prospectus? What are its unique features? (Ref. Para-19.36)
Steps requirement in relation to prospectus. (Ref. Para-19.35)
Write a short note on abridged prospectus. (Ref. Para-19.34)
When a company is not required to issue a prospectus? (Ref. Para-19.33)
Explain the term ’invitation to public‘ with reference to prospectus. (Ref. Para-19.32)
What is prospectus? Is it compulsory for every company to issue prospectus? (Ref. Para-19.32)
What are the exception to the doctrine of indoor management. (Ref. Para-19.31)
Explain the doctrine laid down in Turquand’s case. (Ref. Para-19.30)
Write a short note on the doctrine of constructive notice. (Ref. Para-19.29)
Is the company liable to outsiders by whatever is contained in the article ? (Ref. Para-19.28)
Explain that article is binding contract between company and its member and member inter-se. (Ref. Para-19.28)
The power to alter article is wide yet it is subject to large number of limitations—Comment. (Ref. Para-19.27)
Can company alter article of association? If so, then how?
What are the content of the article of association? (Ref. Para-19.25)
Explain the provisions related to printing and signature of article. (Ref. Para-19.24)
The article of association of a company is subordinate to the company’s memorandum of association—Comment. (Ref. Para-19.23)
Distinguish between article and memorandum. (Ref. Para-19.23)
What is an article of association? Does every company require articles ? (Ref. Para-19.22)
What are the consequences of the ultra-vires act? (Ref. Para-19.21)
Any act which is ultra-vires to the directors is void—Comment. (Ref. Para-19.20)
What do you mean by the doctrine of ultra-vires? (Ref. Para-19.20)
How the liability clause can be altered? (Ref. Para-19.19)
What is the procedure to alter the object clause of the memorandum of association?(Ref. Para-19.18)
State the procedure to be followed by a company to shift its registered office from one state to another state. (Ref. Para-19.17)
State the procedure to be followed by a company for change in registered office from one place to another within same state. (Ref. Para-19.16)
Write down steps to change the registered office from one place to another within the same city.(Ref. Para-19. 14)
How a change can be effected in the name clause? (Ref. Para-19.13)
What are the requirements of the association clause? Can it be altered? (Ref. Para-19.12)
What information should be provided under the capital clause of the memorandum?(Ref. Para-19.11)
What are the legal requirements as to the liability clause? Can liability of a member be increased?(Ref. Para-19.10)
The object clause is critical for the business activities of a company. Comment. (Ref. Para-19.9)
Where to display the address of the registered office? (Ref. Para-19.8)
Discuss the significance of the registered office clause in the memorandum of association.(Ref. Para-19.7)
What are the legal requirements of the name clause of the memorandum of association?(Ref. Para-19.6)
Write a short note on the form of the memorandum of association. (Ref. Para-19.4)
Is the memorandum of company required to be printed? if so, explain the relevant rules.(Ref. Para-19.3)
Explain the purpose of memorandum. (Ref. Para-19.2)
What are the importance of memorandum? (Ref. Para-1,19. 2)
The memorandum of association is unalterable in character. Explain. (Ref. Para-19.1)
What is memorandum of association? What are its different clauses? (Ref. Para-19.1,19.5)
Maximum paid-up capital, in case of public company is.(i) 50 lakhs (iii) 125 lakhs(ii) 100 lakhs (iv) No limit
Invitation to public offering shares or debentures, in case of private company is(i) Prohibited. (iii) Acceptable.(ii) Restricted. (iv) None of these.
Can a private company accept deposits from the public?(i) Yes (ii) No
Can a private company go for a public issue?(i) Yes (ii) No
While calculating the maximum limit, in case of private company, which of the following will not be included?(i) Employee (iii) Member(ii) Member + Employee (iv) None of these
Maximum capital of private company is(i) 50 lakhs. (iii) 1.5 crore.(ii) 1 crore. (iv) unlimited
______________ % of shares should be held by a company in another company in another company in order to become subsidiary.(i) More than 50 (iii) More than 30(ii) More than 40 (iv) More than 20
The Central Government's permission is required in case of conversion .(i) Private to public. (iii) Both (i) or (ii).(ii) Public to private. (iv) None of these.
A company is considered as a government company, if it is holds % of paid-up share capital.(i) More than 30 (iii) More than 50(ii) More than 40 (iv) None of these
X Company is holding majority of shares in Y company. Will X and Y companies will be the same entity?(i) Yes (ii) No
Generally, a company’s liability is(i) Limited. (iii) Situation does not arise.(ii) Unlimited.
Transfer of shares in the company is(i) Restricted. (iii) Prohibited.(ii) Freely transferable. (iv) None of these.
XYZ Company shares are totally held by government. It can be called a government company.(i) True (ii) False
The liability of the members when company is limited by shares is(i) The unpaid value of shares. (iii) Unlimited liability.(ii) The guarantee amount. (iv) None of these.
The liability of members when a company is limited by guarantee is(i) The unpaid value of shares. (iii) Unlimited liability.(ii) The guarantee amount. (iv) None of these.
Minimum paid-up share capital in case of a public company is(i) 1 lakh. (iii) 5 lakhs.(ii) 3 lakhs. (iv) 7 lakhs.
Minimum paid-up share capital in case of a private company is(i) 1 lakh. (iii) 3 lakhs.(ii) 2 lakhs. (iv) 4 lakhs.
Liability of a member in case of a private company is(i) Limited. (iii) Both ((i) or (ii).(ii) Unlimited. (iv) None of the above.
Minimum subscription should be received within days from the issuance of the prospectus(i) 30 (iii) 90(ii) 60 (iv) 135
The maximum number of members in case of a public company is(i) 0.(iii) 50.(ii) no limit. (iv) 100.
The maximum number of members in case of a private company is(i) 200.(iii) 150.(ii) 100.(iv) 50.
The minimum number of members in case of a private company is(i) 1.(iii) 3.(ii) 2.(iv) 7.
The minimum number of members in case of a public company is(i) 1.(iii) 5.(ii) 2.(iv) 7.
Which type of company’s shares are freely transferable?(i) Private company. (iii) Both (i) and (ii).(ii) Public company. (iv) None of the above.
The property of a company belongs to the(i) Company. (iii) Members.(ii) Shareholders. (iv) Promoters.
Write down the steps required to take to incorporate, the public limited company.
Explain the steps to be followed for obtaining the certificate of commencement. (Ref. Para-18.23)
Write down the steps to start a private company (Ref. Para-18.22)
Discuss the steps involved for the incorporation of companies in India? (Ref. Para-18.22)
Write short note on ‘pre-incorporation contract’. (Ref. Para-18.20)
What do you understand by a preliminary contract? (Ref. Para-18.20)
What remedies are available against the promoter, when he makes secret profit? (Ref. Para-18.19)
Who is a promoter? Explain in brief, the positions of a promoter relating to his rights and duties in a company. (Ref. Para-18.17,18.18)
Define ‘Holding company’. When can you say a company to be a subsidiary company of another company? (Ref. Para-18.16)
When can any company be said as a government company? (Ref. Para-18.14)
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