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great – thats what i had calculated in the exam but thought i had got it wrong for some reason. Good to hear that you got the 10k too. 🙂
i had a real hard time on the question on the promoter thing – I kept answering b in part a and having to slow down and think it through.
any input on that one?
I am sitting F4, F5 and P3 this sitting. You can definitely sit skills and professional together so long as its the only skills left and you are sitting them at the same time.
Hope that helps.
I knew the definition for a promoter but the ques also asked how are they regulated which I didnt know at all.
What was part b) of that ques?
part b was the part on pre-incorporation contracts.
for part a – i defined promoter. I said that they have all the duties of an agent without the ability to contract for the principal (no indemnity). And then just went on to say how they had a fiduciary duty to act with care and skill, not to make a secret profit, to avoid conflicts of interests etc. No idea about how they are regulated.
I talked a little bit about their liability but then realised it was probably more relevant to part b so I talked about it there.
Part b – I said that they were unable to bound, would be liable for contracts entered into, they still have ostensible authority, the third party would not know. And then talked about the ways to circumvent the problem – novation, contract in draft and purchase off the shelf co.
Part (b) of that question was to describe pre-incorporation contracts.
In the ealier question, relating to duty of care, was it asking to explain how a duty exists, or the level of duty of care? I.e. was it asking about probability or risk, seriousness of risk, cost etc?
I talked about both the DvS case, neighborhood principle, caparo v. dickman and then went on to talk about the factors (thin skull etc). My thinking was this was a safer approach because in either case you’d pick up at least a few marks rather than gamble.
usually in these questions they can give u more than 10 marks but they cap at 10 and they should recognise the ambiguity and the fact that you took a sensible approach. So I don’t think it should be a problem.
So you think the fact I spoke about probability of risk, seriousness of risk, res ipsa loquiter etc, will not mean that I will earn zero marks necessarily? Fingers crossed!
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Drurolog –
Re: question 10, the liquidation debt repayment question… For my answer I wrote that because the Overdraft was under personal guarantee, not a partnership guarantee, Matt was liable to pay it rather than the partnership…. I may have to google it to see if it’s right though, it was a bit of an educated guess!!!
I think you will earn more marks than you think.
Thanks platinumkp. I should stop thinking about it now! Hope everyone does well with their results.
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can somebody tell me precisely plz wht the question 7 part a
it was duty of care or standard of care?- Topics: 0
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@platinumkp yes it sure is helpful so u can’t do professional papers before clearing all skills right. Thx a lot
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The question on standard of care related to the breach of duty of care. See question and answer 3 of the June 2008 paper.Click here I got that completely wrong. as I talked about neighbourhood principle etc.. Really annoying as I knew the answer. Why do they have to make questions ambiguous. I should have looked at those past exam papers!! Hopefully did okay in other questions.
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Answer to June 2008 Q3 Click here.
I have a question re the Ari, Bi, Cas, Dex question on failure to pay outstanding debts in full but need to know if anyone else did the Scots variation of this paper?
The BPP Scots Supplement Notes said that for Chapter 5 we only needed to study sections 4 and 5. That means we were advised not to study the part payment or alternative consideration rules that I’ve seen other people discuss on here as being in their answer
I’m guessing that means it is not applicable in Scotland so does that mean we just had to say that Bi and Cas repudiated their contracts and that new contracts were formed with Bi and Cas’s father? If Ari then chose to pursue Bi or Cas for the debts he would repudiate these 2 new contracts. i.e. he cant do anything
The question on standard of care related to the breach of duty of care. See question and answer 3 of the June 2008 paper. I got that completely wrong. as I talked about neighbourhood principle etc.. Really annoying as I knew the answer. Why do they have to make questions ambiguous. I should have looked at those past exam papers!! Hopefully did okay in other questions[/quote]
I disagree actually, I think you are OK with what you did. At least I hope so because I did same thing
I’m sure the question was asking about duty of care and not about breach of that duty of care
The question and answer you have linked to is all about the breach which we werent asked this year. The 2008 model answer even starts with “Once a clainmant has established that the defendant owes them a duty of care they must then establish that the defendent has actually breached that duty..” and goes onto talk about the breach rather than the duty
Our question today was about establishing the duty of care in the first place i.e. neighbour principle
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I think the paper is fair. The only problem is English is not my first language so I tried to use simple English to answer all the questions and I haven’t quoted any cases. If I failed this paper, I really don’t know how can I pass it next time round. I just don’t believe I have to use calculator for the last question to calculate the final total asset of the company (the 75% of shares need to pay up). I think the bank (overdraft) and all other creditors entitled the final assets (pro rata) – I may be wrong but who care, at least I don’t have to think about it for a couple of months, especially I still have exam next Monday. P1 is really the paper I worry about
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No the overdraft must be first in sequence, remember it was secured with a fixed charge.
The law exam was good for me, I must say due to my last minute studying I did well, started studying 5 days ago 🙁 I asked God for guidance and he directed me to the topics that came on this exam………I say a PASS.
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i hated the scenarios..the theorotical questions were much better…the scenarios were a bit complicating
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i hated the scenarios..the theorotical questions were much better…the scenarios were a bit complicating
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i was so happy becaz paper so easy i prepared exam in 2days
I see u guys like anxiety!!! y even bother askin whts right or wrong, noone of us are gona correct the paper:) lets leave tht work to the staff now:)
Besides, wht seems right to some1 might seem wrong to some1else n there my friends is a never ending discussion 😀Relax! let go! whts written in the paper cannot be undone now can it;)
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