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question nine was a complete lame attempt from me..i said that both dee and eff cannot pay dividends as accumulated realised profits are less than accumultaed realised losses..the 5000 of the revaluation is supposed to go to the reserves and cannot be distributedd…
The paper was not so good – the questions examined werent quite unexpected – not favourable.
Well, for Qn 8. i think, its consideration..
for Qn 10. i dint know how the partners distribute the assets.
for Qn 4. what are pre- whatever shares.I skipped the registers and annual returns part while revising, and thts the qn i see as 5 – so cudnt do it 🙁 !
i so hope i passs 🙁 !!
im not happyy about the ppr 🙁can anyone help in relation to question 10 of the paper..i dunno wat the answer shudve been
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I pretty much answered each question as you did, even down the cases. I did not think the exam was too bad. I expect to pass but not with a stellar mark. Where I did not know the exact cases, i built up an example (i.e. i could not remember an anticipatory breach case). I think the exam was fair but not easy.
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@curiousmeerkat dont think the answer in question 2 was right it was much more simple than that ; they were asking excatly about remedies and there was a lot to say :
Common law :
Damages :
Basis : liquidated damages
unliquidated damages – assessment of unliquidated damages
Equitable remedies
Secific Performance
InjuctionQ3. It was about professional Negliegence as Financial/ economic loss arise when a person as rely on and advice of a professional , the But for test …
took singapore variant…
at least i can guarantee a definite pass for this paper compared to the shock in F6 🙁I think no one mention in Q8 that “If there is an implied promise to pay for services then it is suffient consideration for a valid contract”
This is mention in last paragraph of “Past Considearation in Kaplan Publication”.
Although providing services with nothing received in advance is a past consideration but it is suffient consideration as it is a implied promise to pay.
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You reminded me, I did mention injunctions and specific performance, but completely forgot liquidated damages.
With Q8 what led me onto intention was when the question pointed out the reasons given by Ben and Che for non-payment: that they were friends and family trying to help her out.
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On Q8 – I decided that the subject was ” Past Consideration” and that the monies could not be enforced by Amy, and applied the case of “Re Mcardle” and ” Caseys patents”. Q10, I split the $10k up in ratio 5:3:2 and added to Capital and ended up with grand total of £50k on dissolution. As these were assets being used in the company, and added them to the Capital. Other questions I was ok with. Dividends Q9 I said that it was illegal, as a PLC needs the court to decide on reducing capital, as in a revaluation.
I covered all the syllables well. I answered all the 10 questions but my only problem is I didn’t write much, I didn’t answer them wells . I’m just hoping for 50 marks.
Thought questions 2 to 8 were just ok, not great. 9 and 10 were a mess. I was very disappointed about question one. I thought I had covered everything for that one but then they through up primary and secondary legislation. When I went to read up on it last night in BPP, I couldn’t find it! Not in revision kit questions either. Not happy
@curiousmeerkat said:
You reminded me, I did mention injunctions and specific performance, but completely forgot liquidated damages.With Q8 what led me onto intention was when the question pointed out the reasons given by Ben and Che for non-payment: that they were friends and family trying to help her out.
Domestic agreements only exist between spouses (as mention in Kaplan.)
Kaplan Book covers all the questions of this attempt except preEmption rights……
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In the case of Re McArdle though, didn’t she perform improvements to the house, then the siblings said they would pay her for them out of the mother’s estate – so it was past. Whereas here Ben and Che said they would pay her £1000 to design for them, and she subsequently did?
With Q10 how did you end up with £50k? As far as I can remember, the remaining net assets of the company were only £20,000, so when the creditors and loan were paid the only capital available to be repaid was £10,000 (in the 5:3:2 ratio)?
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@ali_zia4u said:
Domestic agreements only exist between spouses (as mention in Kaplan.)Kaplan Book covers all the questions of this attempt except preEmption rights……
I have never used Kaplan, only BPP. I may consider using Kaplan in the future now.
The impression I got from BPP was that there was a presumption that the parties did not intend to enter into legal relations with domestic arrangements (Balfour v Balfour), with that case concerning a married couple, except where property was concerned but that includes family…
Even though I mentioned this, I concluded that even so they may be considered as business agreements as they were for Ben’s and Che’s business, not personal use. In that case, as there was no express statement against intention (Rose and Frank v Compton) then intention would be presumed.
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damn i thought Q 8 is consideration….
The paper was as a matter of fact , easy but also kinda lame because certain scoring topics were excluded in this sitting.Overall I hope i’ll achieve a border-line pass mark, this was my first ever sitting of this exam and it seems to be going down the drain 🙁
Dont know why the examiner decided to throw 10 mark Q’s at us with virtually nothing to write about , honestly it beats my understanding that why 10 mark questions on statutory documents and issuance of rights, bonus shares were set ?
As far as Q8 is concerned , to me it seemed that two fundamental aspects of contract law were being questioned that is “sufficiency of consideration” and “intention to create legal relations” so I wrote along those lines , which I hope goes down well with the markers.
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The tutors guess were so not accurate…i was really expecting interpreting statute, veil of incorporation and contents of a contract…Didn’t think law of tort was going to come in the exam oh and question number 4 did anyone know about it…
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i messed the whole thing up!! for the question about amy, i said brother not liable. i just saw the word “brother” and panicked, and said domestic relationship, so not binding and quoted balfour v balfour. then for the friend i quoted simpkin and pays and rose and frank v crompton. for tort, didnt answer properly, i just wrote all about donoghuev stevneson and anns v merton and proximity etc. i also didnt know the registers, i siad members, charges, directors, debentures(but not essential). i wasnt well prepared, and fell and split my head open on ice 2 days before. but no excuse. the only questions i likws were directors duties i think (s171-s177) and unfair dismissal, and a bit of delegated legislation. will def have to repeat. hope everyone does well
what are the remedies of breach of contract?
i just wrote Damages (Liquidated & Illequidated – Measurement and Remoteness)
Overall paper was ok. Hope to score 65 marks Insha ALLAH
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@gracetsiga1 said:
The tutors guess were so not accurate…i was really expecting interpreting statute, veil of incorporation and contents of a contract…Didn’t think law of tort was going to come in the exam oh and question number 4 did anyone know about it…What was question 4 again?
@gracetsiga1 said:
The tutors guess were so not accurate…i was really expecting interpreting statute, veil of incorporation and contents of a contract…Didn’t think law of tort was going to come in the exam oh and question number 4 did anyone know about it…You can find exact answer of Q4 in Kaplan Chapter 3 (The Law of Torts) (Page 74-75, 85-86)
i didnt write liquidated damages nd penalty clause in breach of a contract..rest i wrote all including damages, common law remedies nd equitable remedies..how many marks will be deducted
i want to appear for f5 and f6 in the coming june 2011..can anyone please tell me what books to go for..ive heard that kaplan is good for calculative paper and bpp for theory..so please tell me if f5 and f6 are based on theory or calculations?? because then ill purchase the books respectively
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it waas ok but as we know its all abt luck so hope for the best
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