Question #25

Let’s assume that Ruslan said “Fine, sell the house to Sabina. However, you have to give me back twice as much of the advanced payment I gave you (возвращай в двойном размере задаток).”

What Oleg has to give back to Ruslan under KZ law?

1. KZT 4 mln. Art. ____

2. Nothing. Art. ____

3. 8 mln. Art. ____

4. Restitution, i.e., KZT 2 mln. Art. ____

Continuation of the case

Let’s assume that Oleg said to Sabina, “Let’s do the deal in such way: I will give you the power of attorney (доверенность) for the house, and you will give me the money.” Sabina agreed, and gave Oleg the money. Oleg gave her a notarized form of the power of attorney to sell the house on his behalf within 1 year.

Sabina went on a business trip to Nicaragua for 3 months. When she came back, she learnt that Oleg died.

Question 26

Sabina would like to re-register the house on her name. Is she entitled to do it?

1. Yes, as Oleg gave her the power of attorney for 1 year. Art. ____

2. No, as the power of attorney has been terminated. Art. ____

3. Yes, as power of attorney is contract. Art. ____

4. No, as power of attorney is not a contract. She cannot re-register the house. Art. ____

New case

Let’s assume that Company GasMyas would like to hire an accountant. They stipulated such terms of employment.

1. Working days – 7 days a week.

2. No paid vacation.

3. Working hours are from 9 am to 9 pm.

4. Fixed fee (оплата) is 900,000.

Question # 27

Is GasMyas entitled (имеет право) to do this?

1. No, as this employment must be regulated by Labor Law

2. Yes, as this employment can be regulated by Civil Law

3. Yes, does not matter what area of law it is.

4. No, does not matter what area of law it is.

Question # 29 (1%)

Please find articles of the Civil Code related to the freedom of Parties (Сторон) to the contract to make contract with anyone they choose; and right to stipulate terms different from those of the Civil Code?

Article 1 ______________(0.5%) &

Article 2 ______________(0.5%)

Question # 30(2%)

What is Personal Income Tax (PIT) of the planned accountant:

1. under Civil Law? ___________ (1%)

2. Under Labor Law (if the accountant’s total income is 1 mln. a month) __________ (1%).

Correct answers

Instructor: Zhanat Alimanov

Course: Business Law

Date: December 6, 2010

Variant: 1

ID: _____________________________________________________

First Name: _____________________________________________________

Last Name: _____________________________________________________

Final Exam on Business Law

Important notices:

1. For the purposes of this test, we assume that:

1. all facts and information in the case do not need to be proved (не нужно доказывать); and the actions have been properly documented and made;

2. if people’s age is not indicated and it is not mentioned otherwise, all people are assumed to have deed capacity; and

3. all fees and other payments are in KZT.

2. During the test you will have to find necessary articles in the Civil Code & Statutes by yourselves. It is advised to read cases and articles of the Code & Statutes carefully and thoroughly.

3. Unless otherwise (если иное не предусмотрено) is mentioned, let’s assume that provisions of companies’ foundation documents do not vary from those of the Code & Statutes.

4. The text of a case applies to all questions afterwards which mention names of people in the case until the new case starts.

Vocabulary

1. Legal capacity - правоспособность

2. Deed capacity - дееспособность

3. General Partnership - полное товарищество

4. Limited Partnership – коммандитное товарищество

5. Limited Liability Partnership - ТОО

6. JSC=Corporation=Акционерное Общество

7. Partner – участник/товарищ

8. General partner – полный товарищ

9. Shareholder - акционер

10. Interest - доля

11. Share - акция

Case

Let’s assume that Vika, Aigerim & Kristina decided to make a company that will deal with biochemicals, and called it “Corporation VAK.”

The ownership became the following: (1) Vika – 51%; Aigerim – 48%, and Kristina – 1%. VAK contracted AgroKazakhstan to make certain fertilizers to promote growth of vegetables. VAK made such fertilizers that all vegetable perished within a week of using the fertilizers.

AgroKazakhstan sued for damages. VAK cannot cover all damages, and have 7 bln. of outstanding debt (невыплаченный долг).

Aigerim found Askhat, her old KIMEP friend, and would like to sell (хочет продать) her interest (доля) in the company for 100 tenge.