PCC/IPCC mock test law paper problem for nov 2010

apurva agarwal (CA Final Student) (307 Points)

23 September 2010  

plz answer these ques with reason... its urgent

 

QUES 1

A promoter of a company that is to be incorporated is
a. an agent of the company
b. a trustee of the company
c. a quasi-trustee of the company
d. an employee of the company

QUES 2

To use the expression “Enterprises”, the minimum authorized capital
must be
a. 1 lakhs
b. 10 lakhs
c. 1 crore
d. 3 crores

QUES 3

Ashok lends Rs. 50,000, on terms that it will be returned in two month’s time,
to Sanjay for helping the latter buy certain contraband transmitting
equipment. Can Ashok get the loan amount returned in case Sanjay defaults
and under what circumstances..