判断题An irrevocable credit may be cancelled at any time up to the moment the advising bank pays.
判断题A right in rem is a right in a thing itself which is good against the whole world.
判断题Provision of Depreciation is the estimated expired cost for the current period.
判断题The Land Fund is now managed by the HKMA under the direction of the Financial Secretary as a combined portfolio with the Exchange Fund.
判断题The mortgagor may, where he is in possession of the land, grant leases to third parties subject to any special agreement to the contrary.
判断题A crossed cheque implies that the cheque can be exchanged for cash at the drawer's bank account on which it is drawn.
判断题Write short notes on:
(a) What must the plaintiff prove in order to succeed in mi action of negligence?
(b) Explain the defences available to the defendant in an action based on tort.
(c) Explain the rule established in Hedley Byrne & Co. Ltd. v. Heller & Partners Ltd. (1964)
判断题(a)Define a promissory note.
(b)State whether each of the following negotiable instruments is valid.
(i) A bill reads "pay ＄1,000 out of money to be received by you from Mr. Gao".
(ii) A bill of exchange reads "pay ＄10,000, charge the same to the sale proceeds of 100 cartons of toys shipped per SS Mingzen".
(iii) A bill of exchange which is stated as being payable on arrival of goods at a specified port.
(iv) Is a bill of exchange which is payable on a person's marriage valid?
(v) A bill of exchange is drawn in favour of a minor, a person below the age of eighteen.
(vi) A bill of exchange reads "we hereby request you to pay on our account to the order of Gao＄1,000".
(vii) A bill of exchange reads "pay to our order the sum of ＄5,000 in accordance with your undertaking authorized through Bank of Hongkong".
(viii) Is a cheque which reads "pay order" valid?
(ix) A promissory note reads "I promise to pay on or before Dec 1st, 1998 Mr. Gao or order the sum of ＄10,000 only for value received. Signed".
(x) Is a promissory note which reads "to be paid back in full by 1 July, 1988" valid?
判断题A negotiable instrument is a conditional Order or promise to pay a certain amount of money.
判断题The Exchange Fund is responsible for the issuing and redemption of the Certificates of Indebtedness which give authority to the note-issuing banks to issue banknotes.
判断题Chan wanted to sell his business in which Lee was interested. During the course of negotiations in January, Chan correctly represented the takings to be about ＄40,000 a month.
The contract was not signed until June when takings had fallen to ＄1,000 a month owing to Chan's illness. Chan did not mention the drop when the contract was entered into in June.
Can Lee rescind the contract?
判断题Credit instruments are issues by which investors supply permanent financing to firms or other borrowers including governments.
判断题Money is a commodity itself.
判断题In order to lower breakeven point in unit, business should increase its fixed costs.
判断题A person can exclude or restrict his liability for personal injury resulting from negligence by express consent.
判断题John wrote to Mary asking "Will you sell your second-hand car? Please tell me your lowest price." Mary replied in a letter: "The lowest price for my used car is ＄2,000." John then sent the second letter to Mary saying that he agreed to buy the used car for ＄2,000. But before Mary received the letter from John, Mary sold her used car to David.
Can John sue Mary to enforce the contract?
判断题Vicarious liability means liability for the tort of another.
判断题Debit instructions arise when the party to whom payment is to be made demands the funds from the bank holding the debtor's money.
判断题In an inflation economy, the inventory ending balance recorded by FIFO method is lower than that recorded by LIFO method.
判断题Explain:
(a) Acceptance of bills of exchange.
(b) General acceptance.
(c) Qualified acceptance.