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Past papers/ Corp Laws/ November 2013
Paper 14 Qs
Suggested Answers · November 2013

CA Inter Corp Laws

This page contains all 14 questions from the CA Inter Corporate & Other Laws Suggested Answers for the November 2013 attempt cycle, sourced from VSI Jaipur.

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Q.1 05 marks medium Indian Contract Act - Restraint of Trade ⚡ Try this Q →
X agreed to become an assistant for 5 years to Y who was a doctor practicing at Chennai. It was also agreed that during the term of agreement X will not practice on his own account in Chennai. At the end of the term Y sold the assistantship of Y and began to practice on his own account. Referring to the provisions of the Indian Contract Act, 1872, explain whether X could be restrained from doing so?
CTTP

Worked Solution

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Relevant Provision: Section 27 of the Indian Contract Act, 1872 declares that every agreement by which anyone is restrained from exercising a lawful profession, trade, or business of any kind is, to that extent, void. The only statutory exception is in favour of the buyer of goodwill — a seller of goodwill may be restrained from carrying on a similar business within specified local limits, provided the restriction is reasonable.

Analysis of the Agreement: In the given case, X agreed with Y (a doctor practicing at Chennai) to serve as his assistant for 5 years. The restraint clause prohibited X from practicing on his own account in Chennai during the term of the agreement. This is a restraint operative only for the duration of service — not a post-service restraint.

Effect of Restraint During Service Period: A restraint agreed upon during an employment/service contract that operates only for the period of service is generally treated as a reasonable and valid restriction, as it is ancillary to the main contract of employment. The restriction does not permanently deprive X of his right to livelihood — it is limited in time (5 years) and in scope (practice on own account in Chennai). Such a clause is enforceable during the currency of the agreement.

Situation After Expiry of Term: The critical fact is that X began to practice on his own account only after the term of 5 years had expired. The agreement did not contain any post-service restraint clause prohibiting X from practicing after the expiry of the agreement. Y also sold the assistantship, effectively bringing the contractual relationship to an end.

Conclusion: Once the term of the agreement expired, the restraint clause became inoperative. There is no residual contractual obligation on X to refrain from practicing after the agreement ended. Any attempt to enforce such a restraint after expiry of the term would directly conflict with Section 27 of the Indian Contract Act, 1872, which renders agreements in restraint of trade void.

Therefore, X cannot be restrained from practicing on his own account in Chennai after the expiry of the 5-year term. The restraint was only co-extensive with the service agreement, and having served out the full term, X is free to exercise his lawful profession without restriction. Y (or the buyer of the assistantship) has no legal basis to prevent X from practicing independently.

PLAN

Write it like this

Time target 9 min

1The skeleton

- Lead with Section 27 in your first line — write 'Section 27 of the Indian Contract Act, 1872' before anything else, because examiners are trained to tick the section citation immediately.
- State the rule + the ONE exception in one crisp line — 'every such agreement is void to that extent; the only exception is a seller of goodwill' — this shows you know the boundary of the law, not just the headline.
- Spot and flag the time-axis — the entire case turns on WHEN X started independent practice (after expiry), so you must explicitly separate 'restraint during service' from 'restraint after service' or the examiner cannot follow your logic.
- Apply the during-service position first — say the clause was valid and enforceable while the 5-year term ran, because a service-period restraint is ancillary and reasonable; this shows layered analysis, not a binary yes/no.
- Drive the conclusion with the expiry fact — once you state 'the term had already expired and Y sold the assistantship', the answer writes itself: the clause became inoperative, and enforcing it post-expiry would violate Section 27.
- End with one crisp verdict sentence — 'X cannot be restrained from practicing on his own account in Chennai after the expiry of the agreement' — examiners look for this line to award the concluding mark.

2Examiner-rewarded phrases

“every agreement by which anyone is restrained from exercising a lawful profession, trade or business of any kind is, to that extent, void”“the restraint was co-extensive with the period of the agreement and did not extend beyond its expiry”“X cannot be restrained from practicing on his own account after the expiry of the term of agreement”

3Common trap

Don't fall for this

Most students read 'restraint of trade' and instantly write 'void under Section 27' without pausing to check WHEN the restraint operates — the during-service restriction was actually enforceable, and the whole case pivots on X acting only after expiry. If you declare the original clause void, you lose the analysis marks even if your final conclusion is right.

Q.1 05 marks medium Companies Act - Minimum Subscription ⚡ Try this Q →
What is meant by 'Minimum subscription'? State the provisions of the Companies Act, 1956 regarding the refund and deposit of minimum subscription.
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Q.1 05 marks medium Ethics ⚡ Try this Q →
State with reasons whether the following statements are correct or incorrect
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Q.1 05 marks medium Organizational Management ⚡ Try this Q →
State the qualities which a sustainable innovation organization should possess.
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Q.2 04 marks medium Payment of Bonus Act, 1965 ⚡ Try this Q →
An employee was drawing a salary of ₹ 9,000 per month. He joined his service on January 22nd, 2013 and remained absent from February 10th to 21st until 7th, 2013 due to temporary disablement caused by an accident arising out of and in the course of his employment. Examine the relative difference in the amount of Bonus Act, 1965 whether he is eligible for bonus for the year 2012-2013.
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Q.2 04 marks hard Gratuity ⚡ Try this Q →
Mr. X was serving in Popular Gratuity Limited. After serving for four years, X met with an accident and became permanently disabled. X applied to the company for the payment of gratuity. The company paid the gratuity on the ground that X's service was for four years. Decide, whether the contention of the company is valid?
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Q.2 04 marks medium Corporate Social Responsibility ⚡ Try this Q →
What is meant by 'Corporate Social Responsibility (CSR)'? How corporate social responsibility helps in enhancing the brand image and reputation of a business organization?
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Q.2 04 marks medium Communication ⚡ Try this Q →
State the major advantages of formal communication.
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Q.3 08 marks hard Indian Contract Act - Discharge of Contract ⚡ Try this Q →
When a contract may be discharged under the provisions of Indian Contract Act, 1872. Explain in detail.
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Q.3 04 marks medium Ethics - Integrity ⚡ Try this Q →
"The principle of integrity is a fundamental principle relating to ethics for all accounting and finance professionals." Explain.
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Q.3 04 marks medium Organizational Behavior - Groups ⚡ Try this Q →
Describe the main characteristics of 'Groups' in a business organization.
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Q.3 04 marks medium Statutory Meeting and Minutes - Companies Act ⚡ Try this Q →
The statutory meeting of ABC Limited was held on 20th January, 2012 at the registered office at New Delhi. Draft the minutes of the statutory meeting of the shareholders of the company.
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Q.4 08 marks hard Companies Act - Share Buy-back ⚡ Try this Q →
Whether a company can buy-back its own shares? Discuss the legal provisions as regards to the conditions for buy-back controlled in the Companies Act, 1956.
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Q.4 04 marks medium Ethics - Mahatma Gandhi's Seven Social Sins ⚡ Try this Q →
Describe the seven social sins listed by Mahatma Gandhi.
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