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Bba Take Home CW Ii

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27 views2 pages

Bba Take Home CW Ii

Sample question

Uploaded by

Mpaulo Reagan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MAKERERE UNIVERSITY BUSINESS SCHOOL

COURSEWORK TWO TAKE HOME EXAMINATION FOR BACHELOR OF


BUSINESS ADMINISTRATION (BBA) OF MAKERERE UNIVERSITY
COURSE CODE : LAM 2102
COURSE NAME : COMPANY LAW
YEAR OF STUDY : II
SEMESTER/ MODULE : ONE
ACADEMIC YEAR : 2024/2025
DATE OF ISSUE : MONDAY 14TH OCTOBER 2024
DATE OF SUBMISSION : MONDAY 21ST OCTOBER 2024
CREDIT UNITS :4
DURATION : ONE WEEK

INSTRUCTIONS
1. This is a take-home examination.
2. Students are to group themselves in teams of not more than 10 students.
3. The question carries 30 marks.
4. Use of decided cases and relevant illustrations will be an added advantage.
5. The work shall be type-set in Times New Roman font size 12, 1.5 spacing on not more than 3
pages.
6. The test should be submitted on Monday 21st October 2024. A hard copy should be
submitted to the Administrator at the department of business law, faculty of commerce.

QUESTION
Maiso a prominent businessman and the pioneer importer of used computers trading under M/S
Maiso Investments Ltd, a company he holds shares with three of his friends died recently. At
his last funeral rites, he in his will bequeathed his 30 shares in the company to his eldest son,
Maiso Junior. Maiso Junior has attempted to get his Late Father’s shares from the company but
the other shareholders have declined.
Related to the above, it has been discovered that Maiso had incorporated a single-member
company called Blessed Maiso Ltd with him as a shareholder and director before his demise. He
appointed his wife, Jenny, and youngest daughter Bulandina as nominee and alternate nominee
directors respectively. Bulandina was in the same vein appointed as Blessed Maiso Ltd’s

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Company Secretary. The family is desirous of transacting company business but is stuck since
the single shareholder and director is no more.
Lito Pazo is a shareholder in Lunabe Events Ltd, an events management company that owns
warehouses in Kitezi Village. In the recent catastrophe involving the KCCA landfill, the
warehouses were completely covered up by garbage, thereby destroying property worth
approximately UGX 2,000,000,000/=, all belonging to Lunabe Events Ltd. However, as luck
would have it, Lito Pazo had taken out insurance of the property against natural catastrophes
from Justincase Insurance Ltd. Lito Pazo has approached Justincase Insurance Ltd for
compensation for his loss. Justincase Isurance Ltd has declined to pay compensation to Lito
Pazo and insists that they are only willing to deal with Lunabe Events Ltd which owned the
property. Lito Pazo is aggrieved and is threatening legal action against Justincase Insurance
Ltd for compensation.
In related events, Justincase Insurance Ltd, which boasts of 50 shareholders, held an Annual
General Meeting on the 1st of October 2024. The company secretary gave all the shareholders a
10 days notice, considering the company’s urgent need to hit the statutory deadline. At the
Annual General Meeting, all members turned up, and they voted to replace Bukayo Chance with
Raya Miles as a director. Bukayo Chance is disgruntled with his replacement and wants to
challenge the Company's decision in court on the grounds that the notice for the meeting that was
sent out was too short and in contravention of that set out by the Companies Act.
In the meantime, the Inspectorate of Government (IGG) has since found out that Bukayo
Chance and some two other directors of Justincase Insurance Ltd were involved in making
false tax returns with the aim of evading tax. The IGG has decided to prosecute Bukayo Chance
and the two directors involved in making false tax returns. However, the directors’ lawyers have
protested the attempted prosecution and have an opinion that as per the principle of corporate
personality, in no circumstances can their clients be personally liable for the work they did on
behalf of the company.
Raise all legal issues and advise all the parties.
GOOD LUCK!

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