Mock Exam Notes Flashcards
When does bill come into force?
Midnight of day it receives royal assent
Unless:
- commencement date is specified in Act
- commencement order is made by government minister
Buyers of company relied on accounts that turn out to be false. Can negligent misstatement claim be made by buyer of company against the target companies accounts?
No
- cannot bring claim against accountants for who negligently audited annual financial statement
- as accountants only owe duty of care to company not general public
What are guarantees and indemnities?
guarantee
- secondary obligation that supports a primary obligation
indemnity
- primary obligation to pay on occurrence of particular event
When should you bring action for private nuisance vs public nuisance
Private
- if injury to person or persons property
Public
- no need to show legal interest in land
If the AoA have a provision giving weighted voting rights (per share) when will this take priority?
Always (at least when it is provided for in the term)
When does the chair have the casting vote according to Model Articles?
NOT
- for companies incorporated in or after Oct 2009
If an employee breaches a company rule not allowing non-employees to help them with job and the person is injured will the company be liable?
Yes
When is someone entitled to criminal legal aid?
Means Test
- looks at income and capital
- includes spouses resources unless they have contrary interest in dispute
Merits Test
- is case serious enough
What is a Tomlin order?
Consent order where terms are not in body of the order but:
- in an attached schedule
- settlement agreement; or
- if necessary a document which is identifiable but entirely separate (and can be confidential)
What should you do if you want to enforce Part 36 offer but want to keep terms secret?
Draft a towline order to be filled at court and a separate settlement agreement which is marked as confidential
If representing client in transaction and you suddenly cannot contact them to ascertain instructions, can you proceed with transaction?
Yes BUT must take action that are in clients best interest
When is restrain of trade clause likely to be unenforceable?
must go no further than necessary to protect the legitimate interest of the party relying on it
Reluctance to impose restriction on persons ability to earn a living
Scope
- covering most of city held void
Time
- 1 year held void
When can a solicitor make unsolicited approaches to potential clients?
Can
- current/form clients
- business (representatives of business)
Can’t
- members of public
Is the supreme court bound by its own decisions?
Is bound but has power to depart from them if:
- it appears right to do so
how many designed members does an LLP need?
At least 2
When must a barrister take a case?
Must accept any work:
- in a field in which they profess to practice; and
- at a court at which the normally arrest; and
- if it is at their usual rate
When can claim for dependance and for what?
Who
- spouse, former spouse or person living as spouse for 2 years
- partner or treated as parent
- child or treated as child in relation to any marriage
- any brother, sister, uncle or aunt (and their issue)
When
- financial support
- services
Does defendant have to pay judgement debt if applying for appeal?
Yes
- unless proceedings HAVE BEEN stayed
What is the duomatic principle
anything the members of the company can do by formal resolution in a general meeting, they can also do informally if all of them assent to it
What oaths must judges, magistrates and tribunal member make?
Must make:
1. oath of allegiance to monarch
2. judicial oath
Which companies cannot apply for statutory moratorium period?
- financial services firms
- bank
- insurance company - companies party to capital markets arrangement of over £10m
What must law firms do when conducting any insurance distribution activities?
- reasonable steps to ensure that contract is suitable for client
- adapt the details of it according to the complexity of the contract and individual circumstances of the client
- provided client with written demands and needs statement
- contract just be consistent with demands and needs statement
What is the effect of non-compliance with an unless order?
Claim is automatically struck out if the order says so
- same goes for any sanction given in order
Although can apply for relief
When must an enhanced CDD be performed?
- where transaction is complex
- where transaction is unusually large; or
- where there is an unusual pattern of transaction or transactions have no apparent economic or legal purpose
A negligently damages power line to B’s factory.
B’s furnace shuts down. £100 of metal currency smelting is lost. B expected to make a £100 profit from the metal destroyed. B also loses profits (£400) from 4 subsequent melts they are unable to do whilst power is down.
What can be recovered?
Only
- £100 for metal destroyed
- £100 for profit on destroyed metal
(as the profit is consequential loss to damage of the metal)
The opportunity cost of subsequent melts is pure economic loss
NOTE
- may have been able to recover all if B had owned the electric cable
What is the condition to be a salaried member of LLP? What is the effect?
Condition
- their contribution to LLP must be less than 25% of expected disguised salary payable by LLP
Member of an LLP and treated as an employee for income tax purposes.
