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Company law exam questions and answers pdf download. In view of increasing emphasis on adherence to norms of good corporate governance, company law assumes an added importance in the corporate legislative milieu, as it deals with structure, management, administration and conduct of affairs of companies. A agency by necessity b express agreement between the parties c ratification of the agents act by the principal d agency by estoppel 2 marks 7 a company is said to have a separate legal entity. Section 31 ii of the act states that an existing company means a company formed and registered under any of the previous companies laws.