ACCA_F4练习题.doc

ACCA F4 Corporate and Business Law Ⅰ. True or false, correct the false statements Part A 1) Remedies under common law and equity are same, and are known as damages. 2) Case law is a kind of judge made law and it consists of the decisions of all courts. 3) Delegated legislation is completely independent legislation and not interfered by any other organs. 4) An offer is a definite promise to be bound on specific terms and it cannot be made to the world at large. 5) Any response to an offer will constitute acceptance. 6) All exclusion clauses that are agreed by contacting parties are valid. 7) Damages for breach of contract will not be award to the extent that they are considered too remote. 8) The authority must be express for the contract entered into by the agent to bind the principal. 9) Since the limited liability partnership is a separate legal entity it should be incorporated by registration at Companies House. 10) A company’s articles of association bind its members to company, the company to its members, its members to each other, and the company to third parties. 11) Shareholder and debenture holder both have same rights in management of company. 12) The duties of the secretary are statutory duties provided by Company Act. 13) A director must avoid any conflict of his personal interest and big shareholder’s interest. 14) The executive director is a director who performs a management role in a company, so he is not an employee of his company. 15) Dividends are payments made to shareholders out of company profits and part of capitals as a return on their investment in the company. Part B 1 To be valid and enforceable, a simple contract must be supported by consideration. 2 Where the postal rule applies, acceptance will occur at the moment of posting. 3 The case of Carlill v Carbolic Smoke Ball Co 1893 demonstrates that a company is a separate legal entity as distinct from its members. 4 Consideration need not be adequate in value but must be sufficient in l