CMA JANUARY-2022 EXAMINATION

OPERATIONAL LEVEL
SUBJECT: R1. LEGAL ENVIRONMENT OF BUSINESS

Time Allocated: Three hours Total Marks: 100

Instructions to Candidates

There are 4 Sections (A, B, C & D) in this paper. You are required to answer TWO
questions from Section A, TWO questions from Section B, ONE question from Section C
and TWO questions from Section D.
Answers should be properly structured, relevant and computations need to be shown.
You are strongly advised to carefully read ALL the question requirements before
attempting the question concerned (that is all parts and/or sub-questions).
ALL answers must be written in the answer book. Answers written on the question paper
will not be submitted for marking.
Start answering each question from a fresh sheet. Your answers should be clearly
numbered with the sub-question number then ruled off, so that the markers know which
sub-question you are answering.
Section No of questions in the No of sub-questions Marks allocation
Section in the Section
A 03 (answer any 02) 03 40%
B 03 (answer any 02) 03 20%
C 02 (answer any 01) 03 10%
D 03 (answer any 02) 03 30%

TURN OVER

Page 1 of 5
SECTION A (COMMERCIAL LAWS) – 40 MARKS
This section consists of 3 questions. Answer any two questions.
You are advised to spend no longer than 72 minutes on this section. Section will carry 40
marks and one question will carry 20 marks each.

QUESTION 1
(a) Define endorsement. Distinguish between General endorsement and special
endorsement. What is sans recourse endorsement?
(b) Mr. Arif Developed a Shopping Mall at Nilkhet at the request of Mr. Bashar who is a
Municipal corporate. Mr. Samir makes agreement to Pay BDT 10 Million. Mr. Arif
accepts the proposal of Mr. Samir. Is this an agreement or a contract, Justify your
answer?
(c) Mr. X in consideration of BDT 5 Million from Mr. Y agrees to murder Mr. Z while
borrows the money from Mr. M who knowingly lends money to Mr. Y. Can Mr. M
recover this amount?
[Marks: (7+7+6) = 20]
QUESTION 2
(a) The term “contract of sale” is a generic term and includes both a sale and an
agreement to sell. - Explain.
(b) Why the question as- when Property passes from the seller to the buyer is important?
(c) A contracts B to sell Java sugar according to sample produced by him. On the delivery
of the same to B, the buyer, it appears that the sugar agrees with the sample, but is not
Java sugar. Will B entitled to any remedy as per the law?
[Marks: (7+7+6) = 20]
QUESTION 3
(a) Does an aggrieved person have any remedy against an arbitral award?
(b) How is an arbitral award made?
(c) Write short notes on Trademarks Registry, Registrar of Trademarks and Register of
Trademarks.
[Marks: (6+8+6) = 20]

END OF SECTION A

SECTION B Starts on page 3

Page 2 of 5
SECTION B (LABOR LAWS) – 20 MARKS
This section consists of 3 questions. Answer any two questions.
You are advised to spend no longer than 36 minutes on this section. Section will carry 20
marks and one question will carry 10 marks each.

QUESTION 4
(a) Discuss precautionary measures against fire.
(b) Explain the rules regarding rest or food break during work as per provision of the
Bangladesh Labour Act.
(c) Describe the provisions of penalty for employment of child & adolescent.
[Marks: (4+2+4) = 10]
QUESTION 5
(a) Under what circumstances the labor court shall not consider any claim of
compensation for occurrence of any accidents while at work.
(b) Discuss about operations of provident fund for workers in private sector establishments
in Bangladesh.
(c) Discuss the essential matters for registration of a Trade Union.
[Marks: (2+5+3) = 10]
QUESTION 6
(a) Define ‘Establishment’ as per Bangladesh Labour Act, 2006.
(b) Discuss the differences between the Strike and Lockout.
(c) Discuss the rules regarding weekly holidays of any labor employed in any
establishment and compensatory weekly holidays as per Bangladesh Labour Act,
2006.
[Marks: (2+4+4) = 10]

END OF SECTION B

SECTION C Starts on page 4

Page 3 of 5
SECTION C (PARTNERSHIP ACT) – 10 MARKS

This section consists of 2 questions. Answer any 1 question.

QUESTION 7
(a) Distinguish between sleeping partner and nominal partner.
(b) Define ‘Sub partner’.
(c) Describe mode of dissolution without the order of the Court.
[Marks: (4+2+4) = 10]
QUESTION 8
(a) Discuss duties of partners.
(b) Explain how ‘Mutual Agency’ relationship is existed in case of a partnership business.
(c) Explain the process of dissolution of firm.
[Marks: (4+3+3) = 10]

END OF SECTION C

SECTION D Starts on page 5

Page 4 of 5
SECTION D (CORPORATE LAWS) – 30 MARKS
This section consists of 3 questions. Answer any two questions.
You are advised to spend no longer than 54 minutes on this section. Section will carry 30
marks and one question will carry 15 marks each.

QUESTION 9
(a) Define Company. 'Company has independent corporate existence'.- explain.
(b) What is the legal effect of Memorandum of Association?
(c)What are the differences between Memorandum and Articles of Associations? Which is
more important to the company and why? Can a public limited company operates
without Articles of Association. Explain with reason.
[Marks: (4+4+7) = 15]
QUESTION 10
(a) In case of Initial Public Offering how the offering price is fixed under ‘Book Building
Method’ as per provision of the Bangladesh Securities and Exchange Commission
(Public Issue) Rules.
(b) Describe who shall sign the Balance Sheet, Profit & Loss Account as per provision of
the ‘Companies Act, 1994’.
(c) Describe the differences between A.G.M. and E.G.M.
[Marks: (8+2+5) = 15]
QUESTION 11
(a) Define secured loans. What do you mean by a creditor?
(b) Describe the restrictions regarding Loans and Advances of a Bank.
(c) How do you define nationalized bank and private sector bank?
(d) What is price sensitive information?
[Marks: (5+5+3+2) = 15]

* End of Question Paper *

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