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Law 416

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438 views2 pages

Law 416

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CONFIDENTIAL LWIFEB 2023/LAW416 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE BUSINESS LAW COURSE CODE LAW416 EXAMINATION FEBRUARY 2023 TIME 3 HOURS INSTRUCTIONS TO CANDIDATES 1 This question paper consists of two (2) questions. 2. Answer ALL questions in the Answer Booklet. Start each answer on a new page. 3. Do not bring any material into the examination room unless permission is given by the invigilator. 4 Please check to make sure that this examination pack consists of: i) the Question Paper ii) an Answer Bookiet ~ provided by the Faculty 5. ‘Answer ALL questions in English, DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 2 printed pages (© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL, CONFIDENTIAL 2 LWIFEB 2023/LAW416 QUESTION 1 a) b) Explain the elements of a partnership based on the Partnership Act 1961 and relevant cases. (25 marks) Lim, Lee and Loh are directors and shareholders of Emerald Shine Co (ESC). The business of ESC was greatly affected by the pandemic and to make matters worse, Loh, the major shareholder of ESC, died due to a heart-attack. Bright Light Bhd (BLB) is suing Lim and Lee for unpaid goods supplied to ESC. Lim and Lee are uncertain as to their liabilities to BLB for the debt of ESC and the existence of the company since Loh has died Advise Lim and Lee by applying the Companies Act 2016 and relevant cases. (25 marks) QUESTION 2 a) b) With reference to the Hire-Purchase Act 1967 and relevant cases, describe the procedures for repossession. (25 marks) Zara went to Flexi Furniture Bhd (FFB) to buy a sofa, a bed, and a wardrobe. The manager of FFB advised her to sign a hire-purchase agreement so that she can pay by instalments. The agreement which FFB prepared did not state the duration of hire- purchase and the amount of each instalment that Zara has to pay. The manager assured her that the details will be filled in later. Zara also had to pay a minimum deposit of 30% of the hire-purchase price before the agreement was signed. Zara signed the agreement but later changed her mind as she was not sure of the terms of the agreement. Since she did not arrange for the goods to be delivered to her, she did not want to proceed with the hire-purchase agreement. FFB claims that the agreement is binding, and Zara must pay the instalments. Advise Zara on the validity of the agreement by applying the Hire-Purchase Act 1967. (25 marks) END OF QUESTION PAPER (© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL

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