Random Exam Qs

Question 1

True or false, an insolvent LLP can apply for bankruptcy

Answer 1

False

Question 2

If you whistleblow not in good faith now, what happens?

Answer 2

Your compensation may be reduced by 25%. The disclosure must be made in the public interest

Question 3

Can a data controller be a company?

Answer 3

Yes

Question 4

How many hours do You have to report a data breach?

Answer 4

72 hours

Question 5

Does the GDPR act protect businesses as well as individuals?

Answer 5

No just businesses

Question 6

True or false, public companies must publish the results of polls at general meetings on a website

Answer 6

False

Question 7

True or false, proxies can it be included in determining whether a quorum is present

Answer 7

False this is true for quoted companies only

Question 8

How long must you wait after serving a statutory demand on a company to pay a liability before filing for their bankruptcy?

Answer 8

21 days

Question 9

Within how many weeks must an administrator hold a creditors meeting?

Answer 9

10 weeks

Question 10

True or false, the appointment of a receiver will cause a floating charge to crystallise?

Answer 10

True

Question 11

Within how long must a private company give notice of its refusal to register a requested transfer of its shares?

Answer 11

2 months

Question 12

What are the mutuality of obligations?

Answer 12

The obligation of the employer to provide work and the obligation on the employee to perform the work provided. This must be present in order for an employment contract to exist

Question 13

How much notice must you give for termination of contract between 1 week and 2 years service?

Answer 13

1 week

Question 14

One week notice per year of continuous employment

Answer 14

Up to six weeks probably

Question 15

What percentage change in an unfair dismissal tribunal award could acting unreasonably change the award by?

Answer 15

25%

Question 16

What is re-engagement?

Answer 16

When it is ordered that an employee be given new employment with the employer on comparable terms or otherwise suitable

Question 17

How long do you have to bring a case of UNFAIR dismissal?

Answer 17

3 months

Question 18

How long do you have to bring a case of wrongful dismissal?

Answer 18

SIX YEARS

Question 19

How long do you need to have worked somewhere to get a redundancy payment?

Answer 19

2

Years

Question 20

What is the doctrine of privity?

Answer 20

That a person may have enforceable rights and obligations under a contract only if he is party to it

Question 21

Are all contracts covered by the unfair contract terms act 1977?

Answer 21

No, some are excluded, like some insurance contracts

Question 22

Failure to obtain a trading certificate within 6 months of incorporation may result in a compulsory winding up

Answer 22

12 months is the relevant time

Question 23

How many shareholders % votes are required to remove a director?

Answer 23

> 50% a simple majority

Question 24

What must you have % of paid up capital - wise with voting rights in order to requisition a company meeting?

Answer 24

5%

Question 25

Can you sell off a company’s premises without obtaining the consent of the chargee or the court?

Answer 25

No, you must obtain the approval of the court

Question 26

Who may appoint an LPA receiver?

Answer 26

A secured creditor with a fixed charge over land owned by a company may appoint a receiver to collect rents and/or sell the property in order to repay the amount of the loan

Question 27

Only directors can make a declaration of solvency

Answer 27

A

Question 28

Can an ordinary partnership create a floating charge over its business assets?

Answer 28

No

Question 29

Do ordinary partnerships need to be registered?

Answer 29

No

Question 30

What is the code of market conduct designed to help eradicate?

Answer 30

Market abuse

Insider dealing

Question 31

What is chapter 1 of the competition act all about?

Answer 31

Colluding

Chapter II is about abuse of a dominant position

Question 32

How long does a director have to allot shares when given the authority to do so?

Answer 32

5 years

Question 33

Can you pay for shares in goodwill?

Answer 33

Yes

Question 34

Within what timescale must payment for shares be made following a resolution?

Answer 34

5 - 7 weeks

Question 35

Within what time period must a registered company give notice of its refusal to register a requested transfer of its shares?

Answer 35

2 months

Question 36

Failure to obtain a trading certificate within how long of incorporation May result in a public company winding up?

Answer 36

12 months

Question 37

True or false. A statement as to whether the liability of members is to be limited and if so whether by shares or guarantee is not required in a company’s memorandum of association

Answer 37

False

Question 38

True or false, removal of a director can be by a simple majority?

Answer 38

True

Question 39

In order to requisition a general meeting, how much paid up capital must you have?

Answer 39

5%

Question 40

Can an administrator sell the premises without the consent of the chargee or the court?

Answer 40

No, they must obtain permission from the court

Question 41

True or false, an ordinary partnership cannot create a floating charge over its business assets

Answer 41

True

Question 42

How much do you have to be owed to petition a court for bankruptcy of someone?

Answer 42

£5000