- This topic has 5 replies, 2 voices, and was last updated 10 years ago by
.
- Posts
Hi Mike,
I wonder if you could put my mind at rest for a few of the MCQs which came up in yesterday’s exam. Have tried googling (since not in Kaplan text at all) but didn’t really help.
There was a question which asked about the defendant’s liability under the ‘eggshell skull rule’. The options (I think) were, a) foreseeable damages only, b) unusual damages due to the defendant type plus foreseeable, c) all damages
That wasn’t the exact wording of the question or answers but it was along those lines. I chose b)?
Another asked what type was an option contract? Choice between conditional, collateral, something to do with an offer and unilateral. Kaplan doesn’t mention conditional or collateral contracts anywhere in its text so I could only try based on option contracts in F9 for currency or interest rate hedging! I chose conditional because I thought that, with an fx option you have the choice to let the contract lapse so maybe it would be ‘conditional’ on your choice???
This last one is really bugging me. It asked ‘whose actions lead to agency by estoppel? Choices, A, P or A&P. I know that it refers to the situation where P holds out A as being the agent so can’t be estopped from denying it afterwards but it was the ‘whose actions’ that threw me. Wanted to put P only but then thought, surely A would have to have done something (eg entered a contract) in order for P to be estopped so went for A&P but have absolutely no idea what the right answer is.
One last silly one (sorry!). There was another question which asked which of the following indicates person is employee – two choices obviously wrong but the other two were: doesn’t provide own tools and is obliged to accept work offered. I chose the own tools option but was (and still am) wondering about the other one because that would indicate mutuality of obligations, ie employee/employer relationship? So not sure if I maybe got that one wrong?
Thanks for your help. I know I’m a nuisance but since they won’t be publishing the questions I’ll never know otherwise!
The eggshell skull principle says that you take the other person as you find him ie if you cause him injury and that injury is worse that you might have expected because he has very brittle bones, then you’re facing increased penalties (put “eggshell skull rule” in google search)
On option contract – a strange way of puttin it! – is when you think that you want to buy something, but you want time to think about it before committing yourself and, at the same time, you don’t want to lose the opportunity of buying it once you’ve made your decision, you can agree with the seller that he will give you, say, a week to think about it. But what have you given him in exchange for him giving you that one week thinking time? You need to pay some consideration in exchange for him giving you that week.
Him giving you a week and you giving him consideration makes the agreement in the option contract
The concept of estoppel arises because a person (A) does something without authority and another person (P) knows that A has done it but takes no corrective measures. If the question says “whose actions lead to agency by estoppel?” then the answer is tricky! The agent takes the action but the principal takes NO action and is thus prevented from claiming that the agent had no authority
The employee question is also not straightforward :-(. None of the “usual” indicators alone is sufficient in themselves to prove beyond question that the person is / is not an employee
Personally I would have wanted to choose both the “own tools” and the “has to accept work” as being indicative of the person being an employee
Was there not a choice for “None of the other options”?
No wonder I struggled with these!
That was my problem with the employee question – it just wanted you to choose one and there wasn’t a ‘none of the other options’ option.
Regarding the other ones, if I’m reading you right:
Eggshell skull rule – I could have been right choosing the option with ‘unusual damages’ but equally the ‘all damages’ could be right?
Option contract – does that mean it’s a type of collateral contract rather than conditional?
Estoppel – the answer is Agent only?
Thought these were pretty hard and there were a few more like this but I can’t remember the details. Pity, as I felt I was very well prepared until I saw the paper!
You’ve given me 5 questions out of effectively 75 (45 mcqs and 30 elements of mtqs)
Is this any reason to lose heart?
I know, I know. I can’t help it! There were others in Section A I’m not sure of, it’s just that I can’t remember enough detail on them, and I know I made one idiotic mistake in Section B (although hopefully only 1 mark’s worth).
I just had a target score I wanted to reach and I can’t now because of the multiple choice. I keep trying to tell myself that the only thing that matters is passing but I’m not listening to myself, as usual!
- You must be logged in to reply to this topic.