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A promises to sell his horse to B. Before acceptance reaches A, the horse dies without the knowledge of either party. The legal position is:
Anonymous Quiz
10%
A. Valid Contract
25%
B. Void Contract
53%
C. Void Agreement due to Supervening Impossibility
12%
D. No Contract as acceptance becomes ineffective
β€1
Buy-back out of Free Reserves requires transfer to:
Anonymous Quiz
15%
A. General Reserve
51%
B. Capital Redemption Reserve
20%
C. Securities Premium
13%
D. Debenture Redemption Reserve
β€1
A company forfeits shares on which βΉ80 has been paid. The shares are reissued for βΉ30 fully paid.
Anonymous Quiz
22%
A. Valid
26%
B. Invalid
41%
C. Valid by Special Resolution
11%
D. Valid with Tribunal Approval
β€1
Control under SAST may exist:
Anonymous Quiz
6%
A. Only through Shareholding
19%
B. Only through Board Control
74%
C. Through Contractual Rights even below statutory shareholding thresholds
1%
D. Only after Open Offer
β€1
Materiality under LODR is judged primarily from the perspective of:
Anonymous Quiz
16%
A. Company
19%
B. Board
59%
C. Reasonable Investor
6%
D. Stock Exchange
β€1
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