The following courts are of co-ordinate jurisdiction except

A. National Industrial Court

B. Sharia Court of Appeal

C. Court of Appeal

D. Federal High Court

E. Customary Court of Appeal

2. Which of the following indicates partnership?

A. Joint tenancy

B. Tenancy in common

C. Receipt of annuity

D. Sharing of profits

E. Sharing of gross returns

3. The following clauses must be in the memorandum of association of a

Company except

A. The name of the Company

B. That the company is a private or public company

C. The name of the secretary and auditors

D. That the registered office of the company shall be situated in Nigeria

E. That the liability of members is limited by shares or guarantee or

unlimited

4. A director of a company must be at least of the age of

A. 18

B. 21

C. 25

D. 28

E. 35

5. Under the Companies and Allied Matters Act, the tests for insolvency do

not include

A. Inability of a company to pay a debt exceeding N2,000, three weeks

after demand

B. The existence of court process issued in respect of a judgment debt

C. A court ruling that the company is unable to pay its debts

D. The existence of company's liability in excess of its assets

E. Outstanding debts owed the company in excess of one billion naira

6. Which meeting must a public company hold within six months of

incorporation?

A. Commencement meeting

B. Promoters' meeting

C. Creditor's meeting

D. Statutory meeting

E. General Meeting

7. For how many years must a financial institution preserve the record of

customer's identification under the Money Laundering (Prohibition) Act?

A. 5 years

B. 8 years

C. 10 years

D. 12 years

E. 14 years

8. The physical element of an offence is known as

A. Intention

B. Actusreus

C. Strict liability

D. Mensrea

E. Obiter dicta

9. Which of the following is not an invitation to treat?

A. Display of goods in a shop window

B. Auction

C. Invitation to tender

D. Advertisement of goods in periodicals

E. Sale of necessaries

10. Winding up of a company may take any of the following forms except

A. Creditors' winding up

B. Members' winding up

C. Winding up by the court

D. Winding up subject to supervision by the court

E. Winding up at the complaint of the liquidator

CASESTUDY

(a) Electronic evidence is a means by which the commission of some offences may proved. Required: State five ways of authenticating an e-mail . (5 marks)

(b) Section 3(1) of the Money Laundering (Prohibition) Act provides, inter alia, that a Financial Institution and Designated Non-Financial Institution shall verify its customer's identity before opening an account for, issuing a passbook to, entering into a fiduciary transaction with, renting a safe deposit box to, or establishing any other business relationship with the customer.

Required: Explain the mode of verifying the identity of

(i) An individual; and

(ii) A corporate body. (5 marks) (c) Sunday is a dealer in Mercedes Benz cars spare parts. He purchased a carton of piston and rings from Chukwuma, a seventeen-year old shop assistant of Mr. Emeodi. Chukwuma, who was not in the shop when Mr. Emeodi brought in the goods, gave Sunday a carton of Nissan car piston and rings instead of that of Mercedes Benz. Sunday has just discovered that the goods he bought on credit were not what he ordered for. His counsel is of the opinion that there was no contract ab initio as there are vitiating elements

Required Advise Sunday on the status of his contract with Mr. Emeodi.