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In a situation where the strict application of the concept of the veil of incorporation would lead to an injustice, the Court is prepared to lift the veil
NO, it is NOT necessary to know the titles of statute for the F4 law examination
Yes, for example where a person acts and is deemed to be an agent of necessity
Lifting the veil
Yes, it’s part of the “price payable” for the benefit of limited liability
It’s false – tort is NOT a breach of contract
No, it is not true. An “innocent” third party can enforce the contract against the company.
“llp” is the abbreviation for “limited liability partnership”
No. One of the uses is to finance the issue of FULLY PAID bonus shares to existing members
Yes, a joint venture is defined as “a partnership formed for a specific purpose, course of trade or voyage”
Yes, it is true
No. Following incorporation, a public company must obtain a trading certificate before it may commence trading
Rescission is an equitable remedy
“A partnership is the relationship which subsists between two or more people carrying on business in common with a view to profit”
Yes, it is always true
Yes – but Heaven knows why!
Yes. Neither notice, death nor bankruptcy of the limited partner has the effect of dissolving the partnership.
Specific performance is an equitable remedy
The concept that a company is a separate legal entity, distinct from its owners and from those who manage its affairs
Damages is a common law remedy
Yes, it is always true.
The surviving partners can start a new partnership with immediate effect but the original partnership ceases on the death of a partner.
Yes, the Court may deem that a partnership by conduct exists where two people carry on a business in common and satisfy the definition of a partnership
Rectification is an equitable remedy
No! If the offer does not involve the personality of the offeror, then it’s the notification of the death which makes the offer no longer capable of acceptance (not the death itself)
No. Insanity as a ground for dissolution is a matter for the Court to decide. It’s not automatic
International Criminal Court or International Chamber of Commerce
1 is the minimum number of members required in a private company
Injunction is an equitable remedy
The tort of negligence
No! Just one! I didn’t say that everyone voted!
NO, it is NOT necessary to know dates of cases for the F4 law examination
No, but the director must seek re-election every year after attaining the age of 70
Liquidated damages are a genuine pre-contractual estimate of damages
which would be suffered in the event of a breach and the amount is written as a term of the contract
NO, it is NOT necessary to know section numbers from statute for the F4 law examination
A member’s liability in a company limited by shares is limited to the amount, if any, as yet unpaid on shares held by the member
Yes, the date on the certificate is conclusive proof that the company exists from that date – Jubilee Cotton Mills v Lewes
“plc” is the abbreviation for “public limited company”
No. The acts of a partner done in the course of the firm’s business bind the firm and the partners
By guarantee and by shares
Offer and acceptance
i have a question,if i write the case name and the court decision of this case in paper;then it will be fair. e.g carllil v carbolic smoke ball co. in this case the court decided that carbolic smoke ball co. has made the offer to the world at large and anyone can accept this offer.
Spare a thought for that cheeky question about the MINIMUM number of members required to vote in favour of a special resolution. Answer? No! I never said EVERYONE voted! Made me look silly, to be honest, because I was convinced the answer would be 750 and then remembered what Mike said about the number being ’1′ in his lecture on the topic. However, that only came to pass once I viewed the answer. Lol!
Thank you Open Tuition. Great help, especially, with the reminding of cases and definitions….
What a fantastic reminder? I lv u ot.
I can see Mike writing these answers (seriously I can hear his voice in my head when i read the answers). LOL@ “Is there such a beast as an unlimited company?”
@latoyah, Me too! And an even louder lol @ “Heaven knows why”
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