Paper 6 Laws and Ethics | CMA Intermediate Fill in the blanks

 

CMA INTERMEDIATE EXAMINATION

Paper 6 Laws and Ethics



Paper 6 Laws and Ethics fill in the blanks

A. Fill up the blanks:   

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.


B. Fill up the blanks:   

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.


C. Fill up the blanks:   

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.

The Seven Principles of Public Life were set out by Lord Nolan for the first time in the year 1995.

D. Fill up the blanks:   

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.


E. Fill up the blanks:   

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.