Forwarded from Mohit Agarwal - Divya Agarwal MEPL Students Community
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
❤1
Forwarded from Mohit Agarwal - Divya Agarwal MEPL Students Community
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
❤1
Forwarded from Mohit Agarwal - Divya Agarwal MEPL Students Community
A company forfeits shares on which ₹80 has been paid. The shares are reissued for ₹30 fully paid.
Anonymous Quiz
22%
A. Valid
26%
B. Invalid
41%
C. Valid by Special Resolution
11%
D. Valid with Tribunal Approval
❤1
Forwarded from Mohit Agarwal - Divya Agarwal MEPL Students Community
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
❤1
Forwarded from Mohit Agarwal - Divya Agarwal MEPL Students Community
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
❤1
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A company redeems preference shares out of distributable profits. Which account is ordinarily credited?
Anonymous Quiz
29%
A. Securities Premium Account
41%
B. Capital Redemption Reserve
14%
C. Debenture Redemption Reserve
15%
D. General Reserve
❤1
The maximum permissible discount on reissue of forfeited shares is:
Anonymous Quiz
10%
A. Face Value
15%
B. Called-up Value
68%
C. Amount Originally Forfeited on Those Shares
8%
D. Amount Remaining Unpaid
❤1
A bilateral mistake renders an agreement void only when it relates to:
Anonymous Quiz
9%
A. Value of the subject matter
71%
B. An essential fact forming the basis of the agreement
12%
C. Future profitability
7%
D. Motive of either party
❤1
Acquisition of "Control" may trigger an Open Offer even where:
Anonymous Quiz
14%
A. No Director is Appointed
55%
B. Shareholding Remains Below the Numerical Threshold
10%
C. Dividend Rights are Unchanged
21%
D. Public Shareholding Exceeds 75%
❤1
Materiality under the LODR Regulations is assessed primarily from the perspective of:
Anonymous Quiz
27%
A. The Board of Directors
33%
B. The Company Secretary
29%
C. A Reasonable Investor
11%
D. The Statutory Auditor
❤1
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