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Which of the following is correct?
Section 12 of the Sale of Goods Act 1979 implies a condition into contracts for the sale of goods that the person selling the goods has the right to sell them. Which of the following is correct? (i) The contracting parties may agree to exclude Section 12 from their contract...
Which of the following is correct?
Which of the following is correct? (i) A liquidated damages clause will be void if it amounts to a penalty clause. (ii) A liquidated damages clause will apply where it is a genuine attempt to pre-estimate the loss caused by a breach of contract. (iii) A liquidated damages clause is...
Which of the following is incorrect?
Adam, Brian, Charles and David each held 25% of the issued share capital of ABCD Ltd. Adam has recently issued further shares to himself in order to increase his voting power. Which of the following is incorrect?A . The share issue is automatically invalid.B . The shareholders may ratify the...
In relation to the law of misrepresentation, which of the following is correct?
In relation to the law of misrepresentation, which of the following is correct?A . The innocent party is entitled to claim damages under the tort of negligence for all types of misrepresentation.B . A person is not entitled to rescind a contract which was induced by an innocent misrepresentation.C ....
Which ONE of the following was NOT a recommendation of the Cadbury Committee Report 1992?
Which ONE of the following was NOT a recommendation of the Cadbury Committee Report 1992?A . Independent non-executive directors should be appointed to the boards of listed companiesB . An audit committee consisting of a majority of non-executive directors should be established to oversee the company's financesC . Executive directors...
Advocacy threats to compliance with fundamental principles are described as threats that may occur
Advocacy threats to compliance with fundamental principles are described as threats that may occurA . as a result of the financial or other interests of a professional accountant or of an immediate or close family memberB . when a previous judgment needs to be re-evaluated by the professional accountant responsible...
Working late one evening, you see a colleague copying information on to series of CD Roms. He tells you that software is too expensive for him to afford for his home computer but that he needs the software for his own personal use and in case he might take work home at some point. Is this an ethical issue and why?
Working late one evening, you see a colleague copying information on to series of CD Roms. He tells you that software is too expensive for him to afford for his home computer but that he needs the software for his own personal use and in case he might take work...
Which of the following is not financial assistance for the purchase of a public company's own shares?
Which of the following is not financial assistance for the purchase of a public company's own shares?A . A loan by a company outside the ordinary course of businessB . Allowing the use of a company's assets as security for a loanC . The payment of a dividend which has...
Which of the following statements is correct?
Which of the following statements is correct? (i) A term may be implied into a contract by statute. (ii) A term may be implied into a contract on the ground that it is a trade custom. (iii) A term may be implied into a contract by a court in order...
Evidence suggests that during a recession, companies with a clear sense of ethical direction will:
Evidence suggests that during a recession, companies with a clear sense of ethical direction will:A . Continue to be profitableB . Lose business to unethical companiesC . Be more expensive to runD . Be a poor investmentView AnswerAnswer: A
