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Take Test: COMLAW2B TEST 2 OF 2012
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Description | Respondus | Instructions | | Timed Test | This Test has the time limit of 1 hour and 30 minutes. This Test will save and be submitted automatically when the time expires.
Warnings appear when half the time, 5 minutes, 1 minute and 30 seconds remain. | Multiple Attempts | Not allowed. This Test can only be taken once. | Force Completion | This Test can be saved and resumed later. |
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51 minutes, 15 seconds.

Question 1 The requirements for a pre-incorporation contract in respect of close corporations are:
Answer
| | The contract must be in writing | | | The promoter must have stated that he is acting on behalf of a close corporation not yet in existence | | | The close corporation must after registration adopt the contract | | | Particulars of the contract must be disclosed in the Founding statement of the corporation | | | The contract must be registered by the Commissioner | | | c and d | | | d and e |
1 points
Question 2 A company may be a member of a partnership and of a company.
Answer True
False
1 points
Question 3 Where a member of a close corporation has caused loss to the corporation as a result of his negligence, the aggrieved members of the corporation have to institute action against the member.
Answer True
False
1 points
Question 4 The contract for the benefit of a third party is not available to close corporations as the Act provides for a statutory pre-incorporation contract.
Answer True
False
1 points
Question 5 Irrespective of the kind of company, nominee shareholders have the duty to disclose who the beneficial shareholder is.
Answer True
False
1 points
Question 6 An ordinary resolution applies with immediate effect whereas a special

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