KASNEB CPA Foundation Level (Kenya) · Commercial Law

Agency, partnership and companies

10 practice questions, each with the answer and an explanation.

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Random questions from this topic, one at a time. You see the answer and the explanation straight after each one.

All 10 questions

  1. A person who is authorised to act for another and to create legal relations with third parties is called
  2. An agent who goes beyond his actual authority but acts as the principal's earlier conduct led others to expect, binds the principal through
  3. In the case of Salomon v Salomon & Co Ltd, the House of Lords established that
  4. What is the main advantage of limited liability for shareholders?
  5. Which document sets out the rules that regulate the internal management of a company?
  6. A public company differs from a private company in that a public company
  7. Which of the following persons is likely to be a partner in a partnership?
  8. In a general partnership, each partner is liable for the debts of the firm
  9. A company is wound up because it cannot pay its debts. This is called
  10. Preference shareholders usually have a right to

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