Which of the following is correct in relation to the memorandum of association when registering a company limited by shares?

• A.The information in the objects clause in the memorandum of a company registered before the Companies Act 2006, is treated as part of the company's articles of association
• B.The memorandum must state the company's authorised share capital
• C.The name of the company must still be specified in the memorandum
• D.The country in which the company is to have its registered office must be specified in the memorandum

Comment: *

Name: *

Email: *

Verification: *

Which of the following statements is incorrect?
(i) A term may be implied into a contract on the basis of previous dealings between the parties.
(ii) A term may be implied into a contract by statute.
(iii) A term may be implied into a contract by a court where it would be reasonable to imply it.

• A.(i) only
• B.(ii) only
• C.(iii) only
• D.(i) and (ii) only

Comment: *

Name: *

Email: *

Verification: *

A advertised his van for sale in the local newspaper at a price of £5,000.
In which of the following situations is a contract between A and B created?

• A.B wrote to A and offered to buy the van at £4,800. B stated "if I hear no more from you in the next three days I shall assume that you agree to sell the van to me at that price." Three days have now passed and B has heard nothing from A.
• B.B offered to buy the van for £4,500. A wrote to B accepting his offer but later changed his mind and sent an email to B withdrawing his acceptance. The email was read by B before he read A's letter of acceptance.
• C.B offered to buy the van for £4,800. A wrote to B accepting his offer. B wrote back stating: "payment will be made over three months."
• D.B wrote to A accepting his offer to sell the van for £5,000.

Comment: *

Name: *

Email: *

Verification: *

Which of the following is incorrect in relation to a reduction of capital by a private company?

• A.The reduction must be approved by the court.
• B.The company must pass a special resolution to authorize the reduction of capital.
• C.The directors must make a solvency statement.
• D.It is not necessary for the company's Articles of Association to authorize a reduction of capital.

Comment: *

Name: *

Email: *

Verification: *

Which of the following would comply with best practice in accordance with the UK Corporate Governance Code in relation to Board conduct?

• A.The Board of SSS a public company limited by shares, consists of four executive directors and five non-executive directors. The Board is headed by Mr I who is both CEO and Chairman The non-executive directors do challenge the strategic direction of the company and their opinions are considered and acted upon
• B.The Board of END, a public company limited by shares, consists of four executive and five non- executive directors. The Board is headed by its Chairman, Miss A and the CEO is Miss B. The board has developed clear divisions of responsibility and consequently only meets in full once a year to approve the financial statements
• C.The Board of DDE, a public company limited by shares, consists of four executive and five non- executive directors The Board is headed by its Chairman Mr A and the CEO is Mr H. The board meets ten times a year. The non-executive directors do challenge the strategic direction of the company and their opinions are considered and acted upon
• D.The Board of TSD, a public company limited by shares, consists of four executive directors and three non-executive directors. The Chairman, Mr C is the brother of the CEO Miss K The board meets ten times a year The board meetings are dominated by the siblings but the final decision is generally taken by the CEO

Comment: *

Name: *

Email: *

Verification: *