问答题(c) Where a company may purchase its own shares, state the limitations and conditions that apply to such purchases. (3 marks)

问答题(b) Explain five ways in which a contract of employment may be terminated. (5 marks)

问答题(b) wrongful trading under s.214 of the Insolvency Act 1986. (5 marks)

问答题(b) List FOUR human rights afforded protection under the European Convention Act, 1987. (4 marks)

问答题The auditors of Dunce Ltd signed the balance sheet of the company, which grossly overstated the value of the stockin-trade, at the end of each year. The auditors had relied, without further enquiry, on certificates regarding the value of the stock-in-trade which were issued by the company secretary. The company has now gone into liquidation and it is clear that the company has no assets to pay its creditors. Empire Bank Ltd alleges that it relied on Dunce Ltd’s financial statements for increasing the overdraft facilities to it. The auditors are now being sued by Empire Bank to make good the loss it has suffered for not being able to recover the money advanced to Dunce Ltd. Required: Advise the auditors on their potential liability for professional negligence. (10 marks)

问答题(b) Discuss the role of the Inspection Committee in promoting good standards of corporate governance. (6 marks)

问答题(b) Guarantees. (6 marks)

问答题Rosa and Dimitri are the parents of two children. Their daughter Anna is 17 years old and has asked her parents for permission to marry her boyfriend Alexei. Anna’s ext birthday is in 11 months’ time. Their son Peter is 21 years old. He has had numerous personal problems, including convictions for theft. His various ddictions have also led him to steal from his family, causing considerable financial difficulties for them. Required:

问答题In relation to the law of contract, explain the meaning of ‘intention to create legal relations’. (10 marks)

问答题(b) Explain the creation of an agency relationship by ratification, and the conditions for the ratification to be validly made. (5 marks)

问答题In relation to the law of contract, explain the meaning and consequence of acceptance of an offer. (10 marks)

问答题In relation to the law of contract, explain the rules that govern implied terms. (10 marks)

问答题Explain the remedies available to the innocent party in the case of breach of contract. (10 marks)

问答题In her capacity as general director of JKL Company, a shareholding company, Lan attended a meeting with PQR Company, a client organisation, to discuss future business. During the meeting, Lan was informed of a business opportunity that would arise in the near future. Despite knowing that her company would benefit from this opportunity, Lan informed the client that JKL Company would be unable to deal with the contract due to lack of production capacity. Subsequent to the meeting, Lan informed the board of management of JKL Company of her intention to resign. Once she had left the company, she formed a new company and made a successful bid to secure the contract with PQR Company that she had earlier rejected on behalf of her former employer. Required: Advise the board of management of JKL Company on the action it could take against Lan. (10 marks)

问答题Junaid paid Rs. 50,000 to Wellness Slimming Centre (‘Centre’) for a six weeks’ session of aerobics classes. During the first half of the session the aerobics instructor missed half of the scheduled classes and in the second half no classes were held due to non-availability of the instructor. Throughout the session Junaid and others complained to the Centre’s Manager, who promised to arrange classes to make up for the missed classes. However, this did not happen and the session expired. Thereafter, Junaid served a legal notice on the Centre calling for a refund of the fee deposited along with Rs. 1,000,000 as compensation for the mental anguish and loss of his time; otherwise he would initiate legal proceedings against them for the same. In response, the Centre apologised and offered Junaid the opportunity to join the next six weeks session free of charge. Required: Advise Junaid what legal action he can bring against the Centre and what are the chances of its success. (10 marks)

问答题(b) Explain the process through which a company limited by shares is formed. (5 marks)

问答题DTP Ltd is a public company limited by shares with issued share capital CY￡1,000,000 divided into 1,000,000 shares of CY￡1 each. Eric, Fred and George are the major shareholders of DTP Ltd, with each one holding 250,000 shares. Dorothy and Cindy are partners in an auditors’ firm, called DC & Co. DC & Co have been appointed auditors of DTP Ltd by the board of directors before the first annual general meeting of DTP Ltd. Eric wishes to remove DC & Co from office and appoint different auditors. Fred agrees that DC & Co should be replaced, but George does not. Cindy has recently married the managing director of DTP Ltd. Required: Advise Eric as to the steps he needs to take to achieve the removal of DC & Co as auditors of DTP Ltd. (10 marks)

问答题(b) voluntary liquidation. (4 marks)

问答题In relation to employment law, explain and distinguish between an independent contractor and an employee, who is a servant. (10 marks)

问答题Mark wants to buy a particular painting. He makes his request known to an art dealer who sells him the painting, providing him with a certificate guaranteeing the authenticity of the painting. Several months later, Mark has the painting valued and he is informed that the painting is a fake. Required: Advise Mark whether he may take action against the art dealer to invalidate the contract of purchase of the painting. (10 marks)