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THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH CMA DECEMBER, 2017 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1. LEGAL ENVIRONMENT OF BUSINESS
Time: Three hours Full Marks: 100
Answer TWO questions from PART-A, TWO questions from PART-B, ONE question from PART-C and TWO questions from PART-D.
Answer must be brief, relevant, neat and clean.
Start answering each question from a fresh sheet.
PART – A: COMMERCIAL LAWS Q. No.1
(a) Mr. Arif Developed a Shopping Mall at Nilkhet at the request of Mr. Bashar who is a Municipal corporate. Mr. Samir makes agreement to Pay BDT 10 Million. Mr. Arif accepts the proposal of Mr. Samir. Is this an agreement or a contract, Justify your answer?
(b) Mr. X in consideration of BDT 5 Million from Mr. Y agrees to murder Mr. Z while borrows the money from Mr. M who knowingly lends money to Mr. Y. Can Mr. M recover this amount?
(c) A and B friends. B treats A during A’s illness but does not accepts payment from A for the treatment and A promises B’s son X to pay him BDT 2 lac. A being poor is unable to Pay.
X sues A for the money. Can X recover the money?
[Marks: (7+7+6) = 20]
Q. No. 2
(a) A is holder of a bill he endorses it “sans re course” to B. B endorses it to C. C to D and D again to A:
(i) Can A recover the amount of the bill from B?
(ii) What are the rights of D?
(iii) Can A recover the amount from C and D or any of them?
(b) By means of fall preference A has obtain from B a cheque crossed “not negotiable” he took that cheque to a bank (other than drawee bank) which paid it. B sues the bank for conversion.
(i) Has A committed any offence or irregularity. Under the negotiable instrument act.
(ii) Is B entitled to get any relief?
(iii) How will you decide the case?
(c) State with the reason whether the following payment amount to payment in due course:-
(i) A bill exchange is payable at a future date is paid before maturity.
(ii) An instrument is paid before maturity and is successfully endorse to another person (iii) Any instrument is payable to A or his order and it is not endorsed by him it is paid to
B who is in actual possession of the instrument.
(iv) An instrument payable to bearer, all endorsed in blank, payment to a person in position of the instrument.
[Marks: (6+6+8) = 20]
Q. No. 3
Write short Notes on:
(i) Arbitration;
(ii) Trade mark;
(iii) General Crossing and Special Crossing;
(iv) Contract of Sale.
[Marks: (4 x 5) = 20]
Page 2 of 2 CMA DECEMBER, 2017 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1. LEGAL ENVIRONMENT OF BUSINESS
PART – B : LABOUR LAWS
Q. No. 4
(a) Describe background of the ‘Bangladesh Labour Act, 2006’.
(b) Define public utility service and go-slow as per the ‘Bangladesh Labour Act, 2006’.
[Marks: (5+5) = 10]
Q. No. 5
(a) What is the Daily working hour for an adult worker?
(b) Describe rules regarding compensation for death of worker.
(c) Restrictions on employment of children and adolescents.
[Marks: (2+3+5) =10]
Q. No. 6
(a) Describe rules regarding Overcrowding.
(b) Describe rules regarding floors, stairs and passages in every establishment.
(c) Describe disqualification for being an officer or a member of a trade union.
[Marks: (2+5+3) =10]
PART – C : PARTNERSHIP ACT Q. No. 7
(a) Identify different types of Partner. What are the rights and duties of Partners?
(b) Explain the procedures of retirements of partners.
[Marks: (6+4) = 10]
Q. No. 8
(a) Explain the method of registration of firms
(b) Who can be a partner in the company and what are the essential elements of partnership?
[Marks: (4+6) = 10]
PART – D : CORPORATE LAWS Q. No. 9
(a) What are the process of removal of directors and CEO as Companies Act?
(b) What are the differences between Prospectus and Statement in lieu of Prospectus? How it works.
[Marks: (7+8) =15]
Q. No. 10
(a) What are the differences between Memorandum and Articles of Associations? Which is more important to the company and why? Can a public limited company operates without Articles of Association. Explain with reason.
(b) Who not be a director of the company? What is Independent director and who can be a independent director?
[Marks: (8+7) = 15]
Q. No. 11
(a) Mention names of ten (10)
documents those are required to be submitted to the Bangladesh Securities and Exchange Commission (BSEC) for obtaining consent of BSEC for issuance of a prospectus by the issuer.
(b) Write down the name of the rule according to which information are disclosed in the prospectus. What is road show?
(c) In the prospectus a clause on ‘General Risk’ is incorporated in a box format in bold type under the head ‘Preliminary Information and declaration’. Write down that clause.
[Marks: (5+5+5) =15]
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