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Hi Sir,
I have an exam tomorrow morning. I have followed your lectures/course notes and used BPP and Kaplan revision kits. I am still confused about several aspects. Could you help answer these seven questions/contradictions for me please, or direct these to a source?
a) So i know that: A statement of price of item is treated as supply of information. But one of my BPP questions has this as an answer: Which of following can be accepted so at to form binding contract – quotation of price. Isn’t quotation of price and statement of price the same thing?
Is this a supply of info or a binding contract?
b) Minimum notice period under Employment Right Acts 1996 is one week. After 12 years you get 12 weeks notice. Work for 6 years – allowed 6 weeks notice.Between one month and two years – entitled to one week’s notice
What are the exact rules for this? one-2 years = one week 2-6 years = 4 weeks and over is 6 years is 6 weeks?
c) In context of the law of agency, an agent will NOT be liable for a contract when agent fails to disclose that they are acting as such.
^Is this a misspelling, surely it is the PRINCIPLE that is NOT liable!?
d) To ratify contract, principal must have existed when it was formed and ratification must take place within reasonable place of time. Ratification must be communicated to third party, but their agreement to ratification not required.
^I’m not sure about this to be honest. Principal means principal-agent relationship?
e) One answer: 95% membership support required for a shorter notice than that required for an AGM of a plc to be permitted.
Another q&a: Is it possible to hold an AGM of a public company with only 2 days’ notice? Yes, possible to hold AGM of public company with only 2 days’ notice provided short notice has been approved by holders of 100% of votes.
^What is the rule/s for this?? is it 100% or 95%
f) What is latest date that public company could hold first AGM from 1 may 2010: 31 October 2011. Correct? 15 months.189) PLC held last AGM on 31 October 2007. Next time must hold AGM is 31 December 2009. A public company must hold its first annual general meeting no later than 6 months after its first year end i.e. a maximum of 18 months after incorporation
^very confusing. Anything definitive in respect of AGM dates?
g) Compulsory liquidation – 12 months without trading certificate. Company therefore has 1 month to obtain trading certificate before this action can be taken.?
^I also am not 100% certain on this.
Many thanks for the lectures and provision of support in these forums.
Regards,
Ya) So i know that: A statement of price of item is treated as supply of information. But one of my BPP questions has this as an answer: Which of following can be accepted so at to form binding contract – quotation of price. Isn’t quotation of price and statement of price the same thing?
Is this a supply of info or a binding contract?
“This depends on the context of the giving of the quotation. If it’s in response to a request for information – “How much is this item?” – then that’s not an offer capable of acceptance. But if you’re looking at something in a shop and the shopkeeper says “That’s $5″ that would be taken to be an offer”
b) Minimum notice period under Employment Right Acts 1996 is one week. After 12 years you get 12 weeks notice. Work for 6 years – allowed 6 weeks notice.Between one month and two years – entitled to one week’s notice
What are the exact rules for this? one-2 years = one week 2-6 years = 4 weeks and over is 6 years is 6 weeks?
“….everyone should get a minimum of 1 week’s notice before being dismissed if they have worked for the employer for more than a month. After 2 years, the minimum is 2 weeks’ notice. After 3 years, 3 weeks’ notice, and so on, up to a maximum of twelve weeks’ notice”
c) In context of the law of agency, an agent will NOT be liable for a contract when agent fails to disclose that they are acting as such.
^Is this a misspelling, surely it is the PRINCIPLE that is NOT liable!?
“I agree, the principal will not be liable – the agent WILL be liable where the agent fails to disclose that they are acting as an agent”
d) To ratify contract, principal must have existed when it was formed and ratification must take place within reasonable place of time. Ratification must be communicated to third party, but their agreement to ratification not required.
^I’m not sure about this to be honest. Principal means principal-agent relationship?
“Where an agent exceeds their authority, the principal MAY ratify the unauthorised acts of the agent”
e) One answer: 95% membership support required for a shorter notice than that required for an AGM of a plc to be permitted.
Another q&a: Is it possible to hold an AGM of a public company with only 2 days’ notice? Yes, possible to hold AGM of public company with only 2 days’ notice provided short notice has been approved by holders of 100% of votes.
^What is the rule/s for this?? is it 100% or 95%
Sections 307 – 310 (you don’t need the section numbers) says: “A meeting can, however, be held on short notice, if so agreed by a majority of the members who hold at least 90% of the voting rights in a private company (or 95% in a PLC).”
f) What is latest date that public company could hold first AGM from 1 may 2010: 31 October 2011. Correct?
“Correct”
15 months.189) PLC held last AGM on 31 October 2007. Next time must hold AGM is 31 December 2009. A public company must hold its first annual general meeting no later than 6 months after its first year end i.e. a maximum of 18 months after incorporation
^very confusing. Anything definitive in respect of AGM dates?
“I don’t understand your problem in the part of your post after I have typed “Correct””
g) Compulsory liquidation – 12 months without trading certificate. Company therefore has 1 month to obtain trading certificate before this action can be taken.?
^I also am not 100% certain on this.
“Where have you got “1 month” from?”
Thanks a lot for the quick reply! Much appreciated.
a,b,c,d,g are fine.I also understand f now.
So for e), you have not heard of this rule. I should assume the 95% rule?
Is it possible to hold an AGM of a public company with only 2 days’ notice? Yes, possible to hold AGM of public company with only 2 days’ notice provided short notice has been approved by holders of 100% of votes.
Also, just found one last question:
24) Contract of guarantee – must be evidenced in writing. Other contracts are contracts that must be made by deed.
^Why/what is this? “Other contracts that must be made by deed” does not make sense to me exactly. ?
Kind Regards,
YazanHI Yazan
Best of luck for the exam. One question: how much time did you take to prepare for F4?
And a polite request, Do you want to sell your used F4 books to me once you clear the exam at reasonable price please?Regards
AkhterHi Akhtar,
I finished my tax exam on the 6th December. So one month later. I put in a lot of work though, had days off work and that excludes the xmas holidays.
I’ll private message you regarding the offer.
Regards
YazanThanks you Mike! I passed my Exam today (68%).
You’re lectures and personal guidance help a lot.
Kindest Regards,
YazanYazan, congratulations on passing F4 🙂
Now, what do you mean “So for e), you have not heard of this rule. I should assume the 95% rule?”
Of course I’ve heard of the rule – but it’s 95% not 100% (it used to be 100% but was reduced relatively recently) Of course, it’s unlikely because public companies in everyone’s immediate imagination are huge quoted companies like British Telecom. But you and I both know that a public company need only have two members and can therefore be easily in a position to want to have an annual general meeting at short notice
In answer to your question “Is it possible to hold an AGM of a public company with only 2 days’ notice?” Yes, IT IS possible to hold AGM of public company with only 2 days’ notice provided short notice has been approved by holders of 95% (not 100%) of votes.
Also, just found one last question:
24) Contract of guarantee – must be evidenced in writing. Other contracts are contracts that must be made by deed.
^Why/what is this? “Other contracts that must be made by deed” does not make sense to me exactly. ?
”A contract in the way of a deed is called a “specialty contract” (not a speciality contract!) and is available where consideration is moving only one way. Thus a promise given by one person to another where the recipient of the promise gives nothing in exchange. For that promise to be enforceable would require the promise to be in the form of a deed (signed, sealed and delivered in the presence of witnesses) …
… but a contract of guarantee requires only EVIDENCE in writing – it does not itself need to be in writing
OK?
Ah ok that makes sense. For e) I was referring to the “100%” rule, which didn’t even exist. Sorry if I implied you didn’t know the rule, i meant otherwise.
Brilliant the contract of guarantee makes sense as well.
Many thanks again,
Yazan
Yesterday exam f4 I failed. I’m so much disappointed about that .would you please tell how I pass the exam? I have one question * 1 Rita has a expensive beg , she want to o sell mita that’s why she called mita but mita did not pick phone . at the same time Rita sent a voice mail ” if you don’t reply my message i will think you will buy it.next time when I will meat I will give you” . my question is what is it? It is offer? Supply information or counter offer??
This looks like a case similar to the nephew / uncle case and the horse – “silence cannot be acceptance”
It’s certainly not a counter offer
It’s not even the response to a request for information
It looks like Rita wants to classify it as an offer that is being accepted by silence – but that’s not allowable
It’s neither offer, nor counter-offer nor supply of information. In summary, it has no legal significance
OK?
Sir plz tell me how I pass f4 ? I did mock test. Which site I get real exam question?
@jahara said:
Sir plz tell me he I pass f4Fatama, are you hoping to do cbe F4? If so, you need to liaise with a registered centre and negotiate with them which dates are available for you to attend for a cbe.
If you’re aiming to do a paper-based F4, then June 8 is the next paper-based exam date
Does that answer your question?
Sir I did not mean that. 9 January exam I have failed ,that’s why i so much disappointed . I am weak student , I do not find which way I study? OK sir thanks.
Hi Fatama,
This is what i did:
1) I went through the lectures on the Opentuition website using the Open tuition course notes
2) I bought Kaplan and BPP Revision booklets. I went through every question and answer.
3) I did mock exams on Open tuition and Specimen exam on ACCA Website.Regards,
YWell, Fatama, I could not have interpreted your post in such a way that I could have answered along the same lines as Yazan!
The key to success in all these ACCA exams is practice. You don’t have to read much on this site to realize that all the tutors endlessly recommend practice, practice and then more practice.
That’s what Yazan has recommended too!
Yazan I’m student of Bpp that’s why I have bpp’s revision kit but where I get Kaplan revision kit? I sreach online but all are old version.. Plz suggest me ..
Sir I have few questions 1.An agreement to carry out an act which the law requires anyway amount to..a.sufficient consideration. b. Insufficient consideration. C.past consideration? Which one is right answer?
I think the answer to that has got to be “b”
What does the printed answer say?
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