CMA INTERMEDIATE EXAMINATION
Paper 6 Laws and Ethics
1) When
the consent is caused by under influence, the
agreement is voidable at the option of the party whose consent was so caused.
2) All
payments of wages shall be made on a working day.
3) Whenever
a company makes any allotment of securities, it shall file a return of allotment
with the Registrar within 30 days of allotment.
4) The application
for the purpose of Alteration of Articles is to be filed in Form No. INC-27.
5) Business ethics must safeguard different rights of the consumers.
1) The
liability of surety arises only when the principal debtor fails to pay the debt
to the creditor.
2) Goods to
be manufactured or produced or acquired by the seller after making of the
contract of sale is called Future good.
3) If there
is a dispute as to the amount of gratuity payable to the employee, the employer
shall deposit the gratuity with the Controlling Authority.
4) The time limit for registration of charge is 30 days from the date of creation of charge.
5) The ethical operation of a company is directly related to Profitability in both short and long term.
1) The dishonor of the instrument may
be due to Non-acceptance and non payment.
2) The term of the office of the
representative members of Medical Benefit Council shall be Four years from the
date on which the appointment is notified.
3) The company shall have the Freedom to specify
the lock-in-period for the shares issued in pursuant to exercise such option.
4) A director may resign from his
office by giving a notice in writing to the Company.
1) Remission
means Acceptance of a lesser performance that what
is actually due under the contract.
2) A
promissory note or bill of exchange, in which no time for payment is specified,
and a cheque, are payable on Demand.
3) Where
a person provides labour or service to another for remuneration which is less
than the minimum wage, such labour is called Forced labour.
4) The
monies received on application shall be kept in a separate bank account in a Scheduled bank.
5) The seven principles of Public life were set out by Lord Nolan in 1995.
1) Misrepresentation must relate to
some fact which is material to the Contract.
2) The LLP shall inform the concerned
Registrar within 15 days
of the date of registration about the conversion and the particulars of LLP.
3) The term
of office of a member of the standing committee, constituted under ESI Act,
shall be two years from the date on which his election is Notified .
4) The
registered office shall be opened within 15 days from the date of Incorporation of the
company.
5) A
company shall send copy of each of the document such as memorandum etc., to a
member within 7 days
of the request made by him.