SECTION A: BUSINESS LAW

Answer two (2) questions from this section

QUESTION 1
(a)

Briefly describe the essential elements a contract must have in order to be valid.
(12 marks)

(b)

Cato was entitled to a car as part of his promotion package. He went shopping and saw a car he
liked in the showroom of PHT Motors but since that was the first stop, he needed to check other
showrooms so he asked the sales representative to put the car aside till the next day. Cato could
not find a better car in all the other showrooms visited, and on his way to the office found
Acupa driving the car he had reserved at PHT Motors. He quickly went to PHT Motors to
demand the car but was told it had been sold.
Advise Cato as to whether he can sue.
(8 marks)
(Total: 20 marks)

QUESTION 2
(a)

What are the fundamental obligations of a seller in a contract for sale of goods under the Sale of
Goods Act, 1962, (Act 137)?
(8 marks)

(b)

Distinguish between specific goods and unascertained goods.

(12 marks)
(Total: 20 marks)

QUESTION 3
Define an Agent, and outline the different ways in which an agency relationship can be created.
20 marks

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SECTION B. COMPANY LAW

Answer two (2) questions from this section
QUESTION 4
(a)

What constitutes the ordinary business of an Annual General Meeting (AGM)?

(10 marks)

(b)

Who may convene an AGM?

(10 marks)
(Total: 20 marks)

QUESTION 5
(a)

Briefly explain the types of companies that can be formed under the Companies code, 1963
(Act 179).
(12 marks)

(b)

Distinguish between a private company and a public company.

(8 marks)
(Total: 20 marks)

QUESTION 6
Briefly explain the following as used in the Companies Code, 1963 (Act 179) in relation to
companies.
(i)

Arrangement and Amalgamations

(12 marks)

(ii)

Winding up

(4 marks)

(iii) Dissolution

(4 marks)
(Total: 20 marks)

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SECTION C: PARTNERSHIP LAW

Answer one (1) question from this section

QUESTION 7
Distinguish between a partnership and a company.
20 marks

QUESTION 8
(a)

Kalanbigi and Datagna are partners in a firm trading in provisions including soap, milk and
chocolate products. The partnership agreement stipulates that suppliers of soap products are
to come from only Luvern Ltd and milk and chocolate products from only Nasture Ltd both in
Ghana. It also states that neither partner may incur liability of more than GHC3,000 without
consulting the other. Kalanbigi contracted with Galanga Ltd from China for supplies of soap
and milk products worth GHC5,000 without consulting his partner.
Datagna has just found out about the transaction. Advise him.
(10 marks)

(b)

Datagna and Kalanbigi do not believe that they can continue the partnership. It is suggested
that Kalanbigi will retire and Kweifoli will be admitted as a partner. What will be the liability
for the firms debts if
(i)

Kalanbigi retires

(ii)

Kweifoli is admitted
(10 marks)
(Total: 20 marks)

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