ACCA — Chartered Certified Accountants

⚖️ Corporate & Business Law (LW)
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All topics in Corporate & Business Law (LW)

Every topic in the knowledge graph — mapped from the official syllabus and textbook.

Legal Systems Overview
International Legal Regulation and Conflict of Laws
Alternative Dispute Resolution and Arbitration
CISG — Scope and Contract Formation
ICC Incoterms
CISG — Seller Obligations and Buyer Remedies
CISG — Buyer Obligations, Risk, and Common Provisions
Bills of Lading and Transportation Documents
International Payment Methods
Agency Law
Partnership Law
Corporations and Separate Legal Personality
Promoters and Pre-incorporation Contracts
Company Registration and Constitutional Documents
Share Capital — Types and Allotment
Loan Capital and Company Charges
Capital Maintenance and Dividends
Company Directors — Types, Appointment and Removal
Directors' Duties
Directors' Authority to Bind the Company
Company Secretary and Auditors
Company Meetings and Resolutions
Members' Voluntary Liquidation (MVL)
Creditors' Voluntary Liquidation (CVL)
Compulsory Liquidation
Administration
Order of Payment in Liquidation
Insider Dealing
Market Abuse
Money Laundering
Bribery
Fraudulent Trading and Wrongful Trading
Failure to Prevent Fraud (ECCTA 2023)
Minority Shareholder Remedies
Business Forms Comparison
Doctrine of Separate Legal Personality — Consequences
Company Names and Re-registration
Directors' Dealings — Substantial Property Transactions and Loans
Corporate Governance and Non-Executive Directors
Types of Company: Private vs Public Detailed Comparison
Formation of Agency Relationship
Liability in Partnerships
Dissolution of Partnerships
Contractual Obligations Under CISG — Passing of Property
UNCITRAL Model Law on International Credit Transfers
Bills of Exchange — Key Rules
Share Classes and Class Rights
Redeemable Shares and Share Buybacks
Debentures — Trustees and Debenture Holders' Rights
Effects of Insolvency on Employees and Contracts
Fraudulent and Criminal Behaviour — Overview
Corporate Criminal Liability
Insolvency Practitioners and Officeholders
International Commercial Arbitration — Detailed Rules
Share Allotment and Authority to Allot

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Business Forms Comparison

Question 1

Which business form requires at least one general partner with unlimited liability?

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A Limited Liability Partnership (LLP).

B Private limited company.

C Limited partnership (LP). ✓

D Public limited company.

10:15 ✓✓

✅ Correct!
A limited partnership under the Limited Partnerships Act 1907 requires at least one general partner with unlimited liability and one limited partner. Option A has all members with limited liability. Options B and D are companies with limited liability. Only LP fits.

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CISG — Scope and Contract Formation

Question 2

An offeree sends an acceptance by email on Monday. The offeror receives it on Wednesday. When is the contract formed?

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A When the acceptance is dispatched (Monday).

B When the acceptance is read by the offeror (Wednesday afternoon).

C When the offeror replies to confirm receipt.

D When the acceptance is received (Wednesday). ✓

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✅ Correct!
Art 18(2) CISG states acceptance is effective when it reaches the offeror. Option A reflects common law postal rule, not CISG. Option B adds a reading requirement not in the Convention. Option C is not required. The correct answer is based on receipt rule.

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Partnership Law

Question 3

Gina and Henry run a furniture business as general partners. Gina orders 100 chairs from a supplier without Henry’s knowledge. The chairs are outside the usual product range. Can the supplier enforce the contract against the firm?

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A Yes, because any act of a partner automatically binds the firm regardless of scope.

B Yes, because Gina had implied authority as a partner in the ordinary course of business.

C No, because Gina exceeded her implied authority since furniture was not part of their usual trade. ✓

D No, because the supplier should have verified with both partners before delivery.

10:15 ✓✓

✅ Correct!
Implied authority under the Partnership Act 1890 allows a partner to bind the firm only in acts within the ordinary course of the business. Ordering chairs for a non-furniture business exceeds this scope. The supplier cannot enforce the contract if it falls outside usual activities.

10:15 ✓✓

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⚖️ Corporate & Business Law (LW)
MCQ Practice

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All topics in Corporate & Business Law (LW)

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⚖️ Corporate & Business Law (LW)
MCQ Practice