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Hi Mike,
I went through ‘Revision Essentials’ from approved publisher Becker for the F4 English Variant Paper and it still seems that I am unsure of a some small things which I would like to be 150% sure of:
1. Under Pinnel’s case what is meant my ‘novation’?
2. What is promissory estoppel and how does it apply to contract law?
3. How do I differentiate between ‘repudiatory’ and ‘non-repuiatory’ breach?
4. I am confused also between the types of implied and apparent authority of partners
5. MY BIGGEST WEAKNESS – resolutions and how to specify that a situation needs an ordinary or special resolution
6. What is the difference between memorandum of association and articles of association?
7. How to differ a floating charge from a fixed charge and when a floating charge is voided
8. Appointment of directors i.e. the resolutions and documents that are required
9. Appointment of company secretaries i.e. documents and resolutions needed
10. Frequency and notice to members for AGM’s, GM’s and Class Meetings
11. Admin procedures for insolvency and liquidation, specifically when the court can give grounds for a compulsory winding up and procedures for voluntary winding up (members and creditors)
12. Insider dealing i.e. defenses for insider dealing
13. Finally, the concept of market abuse i.e. specifically market distortion and misuse of informationI know this seems like a lot, but I have done almost 5-6 past exam papers (including the OT tests and ACCA practice tests and I have attempted nearly all of the revision bank questions and watched back lectures on this site, but these things still crop up as my worst performed/not-fully-understood topics
I appreciate the time that you will take out to answer my queries!
Thanks
Avnish Hirani1 – where an original party to a contract is substituted for a new person to that contract
2 – where a promise is given as a result of which the promissee, relying on that promise, changes their own position, the promissor should not then be allowed to break the promise where that break will have an adverse affect on the promissee
3 – where a breach of contract is of a material term and is therefore classed as a breach of condition, that will allow the innocent party to repudiate the contract. So, a breach of condition is a repudiatory breach.
How can you tell whether the breach is a breach of condition or whether it’s a breach of warranty? You can’t! It’s a matter for a judge to decide although some contractual terms would almost by their nature be treated as material (date, time, place, quantity, quality)
4 – when a person is a partner in a firm, the mere title suggests that the person has authority to act on behalf of the firm as its agent. That’s an example of implied authority
Where a person holds a position that, in the “normal” World, would suggest that a person holding that job title has authority to enter into contracts on behalf of the employer / partnership, then that would be apparent authority
5 – this is not a matter of choice! It’s a matter of company law as written in various Companies Acts
You’ll never be asked to write out the 30+ situations that require a special resolution – just learn the main ones (change of name, alteration of articles, vote to put the company into voluntary liquidation)
6 – fully covered in video lectures
7 – fully covered in video lectures
8 – ordinary, standard form with director’s details and bearing the director’s consent signature
9 – board resolution
10 – fully covered in video lectures
11 – when can the court grant a compulsory winding-up order? They circumstances are listed in the course notes
Procedures? Very simply, pass a resolution, have a meeting (members’) or two meetings (members’ followed by creditors’), appoint a liquidator. Liquidator sells the assets, pays him/herself, pays off all the remaining proceeds of sale to the company’s various tranches of creditor in strict sequence
12 – listed in the free course notes
13 – buying shares in a company where you have substantial involvement, spreading rumours so the market, naively believing those rumours starts to buy the shares, the share value increases on the market, you sell at a nice profit thank you vary much, and the rumours turn out to be ……… rumours
PS please don’t do this to me again! 2 or 3 queries per post is fine but 13 is unconscionable!
OH DEAR!
Sorry for that!
I will take that into account next time!
Sorry again!
Avnish
That’s ok, it’s just that when I had to leave this page to check something out or to answer an email, when I came back to my answer to your post I had lost all my previous responses so had to keep starting again 🙁
Hi Fatama
I’m not sure that I understand your question, but I’ll write something and hope that I have answered you!
In multi-track, the case is heard in County Court (99 times out of 100). Any appeal will normally be taken to the High Court
Does that answer you
Thanks for the help Mike!
Like I said, sorry for being so inconsiderate!
I am now more confident thanks to you!
Avnish
Thanks sir. Today I pass f4 exam . thanks for ur quick reply and easy explanation.
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