1)} THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH

~~ CMADECEMBER, 2015 EXAMINATION

~ OPERATIONAL LEVEL
SUBJECT: R1-LEB. LEGAL ENVIRONMENT OF BUSI N ESS.
Time: Three hours Full Marks: 100
•:• Answer TWO questions from PART-A. TWO questions from PART-8, ONE question
from PART-C and TWO questions from PART-D.
•:• Answer must be brief, relevant, neat and clean.
•:• Use fresh sheet for answering each question.

PART A: COMMERCIAL LAWS

Q . No.1.
(a) Define 'The Doctrine of Caveat Emptor'.
(b) What are the rights of unpaid seller under the Sale of goods Act?
(c) Distinguish between condition & warranty.
[Marks: (5+8+ 7) =20]
Q.No.2.
(a) "Holder in due course gets a better title than that of the transferor"- Explain.
(b) Distinguish between open cheque and crossed cheque. What do you mean by restrictive
crossing?
(c) Find faults with the following negotiable instrument:
Promissory note:

US$ 6000 Date: 10-12-12

I am liable to pay to Rahim or order the sum of US $ 6,000 only with all the interest
according to the rules as soon as possible.

(Signature)
[Marks: (5+8+ 7) = 20]
Q.No.3.
Short Notes: (Any Four)
(i) Common Carrier;
(ii) Clean Bill of Lading;
(iii) Difference between a general crossing & special crossing;
(iv) Negotiable Instrument;
(v) Holder in due course;
(vi) Arbitration.
[Marks: (4x5) = 20]
PART 8: LABOR LAWS
Q .No.4.
(a) State penalty for employment of child & adolescent.
(b) State rules regarding canteen.
[Marks: (5+5) =10]
Q. No.5.
(a) Discuss the provision workers of entitlement of festival holiday.
(b) Discuss illegal strikes and lockouts.
[Marks: ( 5+5) =10]
Q. No.6.
Short Notes: (Any Two)
(i) Maternity benefit;
(ii) Minimum Wage-Board;
(iii) Lay-off & Lock out;
(iv) Collective Bargaining Agent.
(Marks: (5 x 2) =10]
Page 1 of 2
/
CMA DECEMBER, 2015 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1 -LEB. LEGAL ENVIRONMENT OF BUSINESS.

PART C: PARTNERSHIP ACT

Q . No.7.
In context of the Partnership Act explain the following:
(a) What are the elements that must Co-exist before a Partnership come into existence?
(b) Who is the Partner with the meaning of the Partnership Act?
(c) What is the legal meaning of a Firm?
[Marks: (4+3+3) =10]
Q. No.8.
(a) What are the effects of non- registration of a firm?
(b) What are the consequences of insolvency of a partner?
[Marks: (5+5) = 10]
PART 0: CORPORATE LAWS

Q.No.9.
In connection with the Insurance Act discuss the following:
(a) "Insurance contract is an aleatory contract"- Explain.
{b) Differentiate between the term Insurance and assurance.
{c) Define the constructive meaning of fire in context of fire policy.
[Marks: (3+5+7) = 15]
Q. No. 10.
{a) Which authority and under which rule approve the prospectus for issuance of shares
through IPO.
(b) What are the agenda of Annual General Meeting?
{c) What are the powers of auditors as per provision of the Companies Act, 1994?
[Marks: (5+5+5) = 15]
Q. No.11.
{a) State the powers of Bangladesh Bank to remove directors etc. of the Banks
{b) Circumstances in which Company may be wound up by Court as per provision of the
Companies Act, 1994.
{c) Discuss rules regarding paid up capital requirements of a non-life insurance company as
per provision of the Insurance Act, 2010.
[Marks: (5+5+5) = 15]

=THE END=

Page 2 of 2
 ~ THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
~ CMA JUNE, 2016 EXAMINATION
~.!,~ OPERATIONAL LEVEL
SUBJECT: R1. LEGAL ENVIRONMENT OF BUSINESS.
Time: Three hours Full Marks: 100
•!• Answer TWO questions from PART-A, TWO questions from PART-B, ONE question
from PART-e and TWO questions from PART-D.
•!• Answer must be brief, relevant, neat and clean .
•!• Start answering each question from a fresh sheet.

PART-A: COMM ERCIAL LAWS

Q. No, 1.
(a) Define the term "Contract of sale". What are the essentials of Contract of sale?
(b) What are the exceptions to the doctrine of Caveat Emptor?
(c) Explain with example when risk of goods passes from the seller to the buyer?
[Marks: (8+6+6) =20]
Q. No. 2.
(a) State with reason whether the following are negotiable Instruments:-
(!) Bill of Exchange (II) Bill of Lading and (Ill) Hundis.
(b) Under what circumstances a suit may be brought against the issuance of a cheque when
the cheque has been dishonored by a bank for insufficiency of funds in the respective
account?
(c) Discuss the provision of law for crossing a cheque after issue.
[Marks: (8+6+6) =20]
Q. No.3.
(a) Define Trade Mark. State what are the marks or symbols that cannot be registered as
trade mark?
(b) "Arbitration Agreement"- What does it mean? State the essentials of Arbitration
Agreement?
(c) Define award. What are the essentials of an arbitral award?
[Marks: (5+8+7) =20]
PART-B: LABOUR LAWS.
Q . No. 4.
(a) Who is a collective bargaining agent (CBA)? How is a CBA elected to the office? Discuss.
(b) Describe the role of a CBA in settlement of industrial dispute.
[Marks: (5+5) =10]
Q. No.5.
(a) Distinguish between discharge and dismissal. What do you mean by retrenchment?
(b) Define misconduct. Describe the punishments for misconduct.
Marks: (5+5) =10]
Q. No.6.
(a) Discuss the right to and liability for payment of maternity benefit.
{b) What types of first aid appliances the factory authorities are bound to provide for?
· [Marks: (5+5) = 10]]

Page 1 of 2
 CMA JUNE, 2016 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1. LEGAL ENVIRONMENT OF BUSINESS.

PART-C: PARTNERSHIP ACT

Q. No. 7.
(a) What are the elements that must Co-exist before a partnership come into existence?
(b) Enumerate the differences between dissolution of partnership and dissolution of firm.
[Marks: (4+6) =10]
Q. No.8.
(a) Is registration compulsory in respect of every firm? What are the consequences of non-
registration of firm?
(b) What is the liability of the firm for wrongful acts of a partner?
[Marks: (6+4) =10]
PART-0: CORPORATE LAWS

Q. No.9.
(a) In the context of the formation of companies explain the articles of association paying
particular regard to how these can be altered?
(b) Explain and distinguish between- (i) Companies limited by guarantee and (ii) Companies
limited by shares.
(C) Draft a notice calling extraordinary general meeting of a public Co. limited by shares.
[Marks: (6+4+5) = 15]

Q . No.10.
(a) Distinguish between a contract of insurance and a wagering agreement.
(b) Discuss the nature and the necessity of insurable interest.
(c) What do you mean by 'proximate cause' of loss? Where the peril insured against is not
the last cause of loss, but a preceding cause, how is the actual cause of loss to be
determined? Discuss.
[Marks: (3+5+7) =15]
Q. No.11.
Short notes: (Any Three)
(i) Winding up of banking companies
(ii) Annual General Meeting.
(iii) Powers of Auditors
(iv) Removal of directors of the Banks
Marks: (5X3) =15]

=THE END=

Page 2 of 2
 ( :():""i TH E lt-.J STITUTE OF COST AND rvif... N;\GEi\lENT ACC:OU NT!\NTS OF BANG~ADESH
~:.. 11 ..:t Cf\1A OECEf\lBER. 2016 EXArvlii--JATION
...:-_:;--: OPERATION.A.L l.FVE L
r=
SUBJECT: R1. LEGAL ENVIRONMENT OF BUSINESS

Time : Three hours Full Marks: 100

Answer TWO questions from -P ART-A, TWO quE:stlons from PART-B.-ONE auestion
from PART-C and TWO questions from PART-D .
....
Answer must be brief, relevant, neat ~nd clean .
Start answering~c~ ~stion fr<?m a fresh sheet.

PART-A: COMMERCIAL LAWS

ay<0.
~-,.( a ) Differentiate betwee n a Contract of sale and an agreement to sa le?
(b) Discuss the formal ities that require for making a con!racl of sale.

z7 ri(c) Discuss the rule of passing risk of good s w ith exception if any·.

2.
[M arks : (6+7+7)

efine negotiable Instrument. Can a minor draw or endorse a negotiable instrument?

=20]

)b) What is notice of dishonor? In what different ways may an instrument be dishonored?
.-(c) Differentiate between a general crossing and a specia l crossing.
[M arks : (7+7+6) =20]
Q . No.3.
(a) Discuss the different types/methods of Arbitration.
(b) What conditions are implied in Arbitration Agreement?
(c) Discuss the provisions related to registration under Trade Mark Act 2001.
[ Marks: (5+8+7) = 20]
PART-S: LAB OUR LAWS
Q. No.4.
(a) W hat is conciliation? Describe the role of a concilia tor under the Labour Act 2006.
(b) Describe the powers and functions of the labour Court.

/
[M ark s: (5+5) =10)
9· No.5.
(a) Describe the various types of workers under the Labou r Act. 2006. What do you mea n by
an adolescent?
(b) Describe the provisions relating to maternity benefit of women workers.
/ [ Marks : (5+5) =10]
"
q_..No. 6.
Short Notes (Any Two):
(i) Compensation for injury:
(ii) Illegal Strike:
(iii) Labo ur Appellate Tribunal.
[Marks : ( 5x2) =1OJ

P8ge 1 of 2
 C lvlA DECE f,~ B ER. 201 G EXAivliN/>.TiON
OPERATIONAL LEVEL
SUBJ ECT: R1 . LEGAL ENVIRONMENT OF BUSIN ESS

PART-C: PARTNERSHIP ACT

L'/
~0.7.
(r=l) Describe different types of partners in a fi rm .
(b) ·sub-partner is not a partner' - Explain.
(c) Whai do you mean by ·partner by esioppel'? Explain.
[Mark s: (4+3+3) =10]
Q. No.8.
(a) Describe the mandatory duties of a partner in a firm .
(b) 'Firm is not a person in the eye of law· - Explain .
[Marks: (5+5) =10]
PART-D: CORPORATE LAWS

~9.
(a) What are the privileges that a Private Limited Company can enjoy than tha t of a Public
Lim ited Company under Compa nies Act 1994?
(b) How a Public Limited Company is converted in to a Private Limited Company?
(c) Discuss the provision of statutory meeting which is must for a new Compa ny.

[M arks: (5+5+5) = 15]

Q. No. 10.
(a) Discuss the provision of Bank Companies Act regarding paid up Ca pital and reserve of a
bank.
(b) Discuss the provision of restrictions as to payrnent of dividend as laid down in Bank
Con~panies Acl-1991.

[Marks: (8+7) =15]

a_y~ .
(a) Who cannot be the Director of a Company?
(b) Discuss some grounds under which loan of Insurance Company are prohibited.
(c) "Life insurance is no t Contract of indemnity··_ Discuss.

[Mark s: (5+5+5) =15]

=THE END =

Page 2 of 2
 THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
CMA JUNE, 2017 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1-LEB . LEGAL ENVIRONMENT OF BUSINESS.

Time: Three hours Full Marks: 100

•!• Answer TWO questions from PART-A, TWO questions from PART-B. ONE question
from PART-C and TWO questions from PART-D.
•!• Answer must be brief, relevant, neat and clean.
•!• Start answering each question from a fresh sheet.

PART-A: COMMERCIAL LAWS

a. No. 1.
(a) What are the consequences of Breach of condition & warranty according to the sale
of goods Act?
(b) Property of goods when passes from the seller to the buyer?
(c) What is the position of the seller who has been partly paid?
[Marks: (7+7+6) = 20]
a. No.2.
(a) How does negotiable instrument differ from transferable document like share, stock
etc.
(b) Discuss the points of distinction between a promissory note and a bill of exchange.
(c) Write critical notes on - Noting, Protesting and Protest for better security.
[Marks: (7+7+6) 20]=
a. No.3.
(a) What are the matters that can be and cannot be referred to Arbitration?
(b) State the marks or symbols that can be registered as a Trade Mark.
(c) Define Consumers as stated in the Competition Act.
[Marks: (1 0+5+5) 20]=
PART- B: LABOR LAWS
a. No.4.
(a) 'Labor Act, 2006' is not applicable for certain institutions and labors. Discuss.
(b) Enumerate the restrictions of employment of women in certain works as per
provision of the 'Labor Act, 2006'.
[Marks: (5+5) = 10]
a. No.5.
(a) Enumerate rules regarding drinking water as per provision of the 'Labor Act, 2006'.
(b) Discuss precautionary measures against fire.
[Marks: (5+5) =10]
a. No.6.
(a) Discuss rules regarding establishment of participation fund and welfare fund.
(b) State rules regarding group insurance as per provision of the 'Labor Act, 2006'.
[Marks: (5+5) =10]
Page 1 of 2
CMA JUNE, 2017 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1-LEB. LEGAL ENVIRONMENT OF BUSINESS.

PART- C : PARTNERSHIP ACT

Q. No.7.
(a) What are the essential ingredients of a partnership business?
(b) How does partnership differ from co-ownership?
(c) Discuss firm's liability for wrongful act of a partner.
[Marks: (3+3+4) =10]
Q. No. 8.
(a) "A partner is the agent of the firm for the purpose of the business of the firm" -
Discuss.
(b) On what grounds may a court dissolve a partnership firm?
[Marks: (5+5) =10]
PART-0 : CORPORATE LAWS
Q . No. 9.
(a) How can one become a member of a company?
(b) What are the acts that members can do by special resolution?
(c) What are the information's that must be included in Memorandum of Association?
[Marks: (5+5+5) 15] =
Q. No. 10.
(a) What statement is written in bold type on face of a prospectus in red color in Bangia
language?
(b) 'Issue price of ordinary share at premium in case of IPO offering is fixed by the
Bangladesh Securities and Exchange Commission'. Do you agree?
(c) What repor[s are to be included in a prospectus as per provision of the section 135
of the Companies Act, 1994?
[Marks: (5+5+5) =15]
Q. No.11.
(a) Discuss the provision of filling of the post of Chief Executive Officer of a bank.
(b) What are the privileges that the Directors of a bank company can enjoy?
(c) Discuss the power of Bangladesh Bank to give directions to commercial bank
authority as described in the Bank Companies Act 1991.
[Marks: (5+5+5) 15] =

=THE END=

Page 2 of 2
 ~0} THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
~ CMA DECEMBER. 2017 EXAMINATION
~}f,t:J OPERATIONAL LEVEL
SUBJECT: R1 . LEGAL ENVIRONMENT OF BUSINESS
Time: Three hours Full Marks: 100
·:· Answer TWO questions from PART-A, TWO questions from PART-8, ONE question
from PART-C and TWO questions from PART-D.
·!· Answer must be brief, relevant, neat and clean.
•!• Start answering each question from a fresh sheet.

PART- A: COMMERCIAL LAWS

Q . No.1
(a) 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 BOT 10 Million. Mr. Arif accepts
the proposal of Mr. Samir. Is this an agreement or a contract, Justify your answer?
(b) Mr. X in consideration of BOT 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?
(c) A and 8 friends. B treats A during A's illness but does not accepts payment from A for the
treatment and A promises B's son X to pay him BOT 2 lac. A being poor is unable to Pay.
X sues A for the money. Can X recover the money?
[Marks: {7+7+6) 20] =
Q. No. 2
(a) A is holder of a bill he endorses it "sans re course" to B. B endorses it to C. C to 0 and 0
again to A:
(i) Can A recover the amount of the bill from B?
(ii) What are the rights of D?
(iii) Can A recover the amount from C and D or any of : 1em?

(b) By means of fall preference A has obtain from B a cheque crossed "not negotiable" he
took that cheque to a bank (other than drawee bank) which paid it. B sues the bank for
conversion.
(i) Has A committed any offence or irregularity. Under the negotiable instrument act.
(ii) Is B entitled to get any relief?
(iii) How will you decide the case?

(c) State with the reason whether the following payment amount to payment in due course:-

(i) A bill exchange is payable at a future date is paid before maturity.

(ii) An instrument is paid before maturity and is successfully endorse to another person
(iii) Any instrument is payable to A or his order and it is not endorsed by him it is paid to
B who is in actual possession of the instrument.
(iv) An instrument payable to bearer, all endorsed in blank, payment to a person in
position of the instrument.
=
[Marks: {6+6+8) 20]
Q. No.3
Write short Notes on:
(i) Arbitration;
(ii) Trade mark;
(iii) General Crossing and Special Crossing;
(iv) Contract of Sale.
[Marks: {4 x 5) =20]

Page 1 of 2
 CMA DECEMBER, 2017 EXAM INATION
OPERATIONAL LEVEL
SUBJECT: R1 . LEGAL ENVIRONMENT OF BUSINESS

PART - B : LABOUR LAWS

Q . No.4
(a) Describe background of the 'Bangladesh Labour Act, 2006'.
(b) Define public utility service and go-slow as per the 'Bangladesh Labour Act, 2006'.
=
[Marks: (5+5) 10]
Q. No.5
(a) What is the Daily working hour for an adult worker?
(b) Describe rules regarding compensation for death of worker.
(c) Restrictions on employment of children and adolescents.
[Marks: (2+3+5) =10]
Q. No. 6
(a) Describe rules regarding Overcrowding.
(b) Describe rules regarding floors, stairs and passages in every establishment.
(c) Describe disqualification for being an officer or a member of a trade union.
[Marks: (2+5+3) =1 0]
PART- C : PARTNERSHIP ACT
Q . No. 7
(a) Identify different types of Partner. What are the rights and duties of Partners?
(b) Explain the procedures of retirements of partners.
=
(Marks: (6+4) 10]
Q. No.8
(a) Explain the method of registration of firms
(b) Who can be a partner in the company and what are the essential elements of
partnership?
=
[Marks: (4+6) 10]
PART - D : CORPORATE LAWS
Q. No.9
(a) What are the process of removal of directors and CEO as Companies Act?
(b) What are the differences between Prospectus and Statement in lieu of Prospectus? How
it works.
[Marks: (7+8) =15]
Q. No. 10
(a) 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.
(b) Who not be a director of the company? What is Independent director and who can be a
independent director?
[Marks: (8+7) = 15]
Q . No. 11
(a) Mention names of ten (10) documents those are required to be submitted to the
Bangladesh Securities and Exchange Commission (BSEC) for obtaining consent
of BSEC for issuance of a prospectus by the issuer.
(b) Write down the name of the rule according to which information are disclosed in the
prospectus. What is road show?
(c) In the prospectus a clause on 'General Risk' is incorporated in a box format in bold type
under the head 'Preliminary Information and declaration'. Write down that clause.
[Marks: (5+5+5) =15]
=THE END=

Page 2 of 2
 THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
CMA JUNE, 2018 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1. LEGAL ENVIRONMENT OF BUSINESS
Time: Three hours Full Marks: 100
•!• Answer TWO questions from PART-A, TWO questions from PART-8, ONE question
from PART-C and TWO questions from PART-D.
•!• Answer must be brief, relevant, neat and clean.
•!• Start answering each question from a fresh sheet.

PART- A: COMMERCIAL LAWS

Q . No.1
(a) The term "contract of sale" is a generic term and includes both a sale and an agreement
to sell. - Explain.
(b) Can a non-owner transfer ownership to a buyer? How? What is the significance of
determining the precise moment at which ownership passes from the seller to the buyer?
Discuss.
(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: (5+7+8) 20]
Q.No. 2
(a) "To be a negotiable instrument an instrument must have some characteristics". What are
those characteristics?
(b) How do you explain the liabilities of parties to a negotiable instrument?
(c) Discuss the rule of crossing Cheques after issue.
[Marks: (8+7+5) = 20]
Q . No.3
(a) Who is not entitled to act as an arbitrator?
(b) State the essentials of an arbitral award. On what grounds can an award be set aside?
(c) State the main purposes of newly enacted Competition Law of Bangladesh.
=
[Marks: (8+7+5) 20]
PART- 8 : LABOUR LAWS
Q . No.4
Differentiate between the following in the light of the Bangladesh Labour Act 2006-
(a) Commercial establishment and Industrial establishment
(b) Retrenchment and Discharge
[Marks : 10]
Q. No.5
State the causes of weak Trade union movement in Bangladesh. In this respect what are your
suggestions?
[Marks : 10]
Q.No.6
Write short notes on any four of the following:
(a) Certificate of fitness;
(b) Grievance procedure;
(c) Collective Bargaining Agent;
(d) Leave with wages and;
(e) Misconduct.
[Marks: (2.5 x 4) = 10]
Page 1 of 2
 CMA JUNE, 2018 EXAMINATION
OPERATIONAL LEVEL
SUBJECT: R1 . LEGAL ENVIRONMENT OF BUSINESS

PART- C: PARTNERSHIP ACT

Q. No.7
(a) 'Sharing the profit is merely a prima facie evidence, but not a conclusive evidence of
Partnership' - Explain.
(b) Distinguish between dissolution of a firm and the dissolution of partnership.
(c) Describe the various modes of dissolution of a firm .
[Marks: (4+3+3) = 10]
Q. No.8
(a) What are the acts by which a partner may bind the firm within the scope of his implied
authority?
(b) A, B and C provide in their partnership that C shall not be liable to the firm for any loss
caused by his fraud activities. Can C enforce this clause?
[Marks: (7+3) = 10]
PART- 0: CORPORATE LAWS
Q.No.9
(a) In the context of formation of Companies explain the statement of capital and initial
shareholdings.
(b) What are the main contents of memorandum of company limited by shares?
(c) What are the privileges that a Public Limited Company can enjoy than that of a Private
Limited Company as per the Companies ct 1994?
[Marks: (5+5+5) =15]

Q . No.10
(a) Describe the nature of contract of insurance.
(b) What are the differences between 'alteration of a policy' and 'rectification of a policy'?
How a policy can be renewed?
(c) What is premium? What are the effects of payment of premium? When the insured is
entitled to return the whole premium? Discuss.
[Marks: (3+5+7) =15]
Q. No. 11
Write short note on the following:
(a ) IPO process of a listed company;
(b) Fixed price method and ;
(c) Book Building Method.
[Marks: (5+5+5) = 15]

=THE END=

Page 2 of 2