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ACCA Paper F4 (ENG)

Corporate and Business Law
Class Notes June 2012

© Debbie Crossman, January 2012 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of Debbie Crossman.

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Contents
PAGE
INTRODUCTION TO THE PAPER CHAPTER 1: ENGLISH LEGAL SYSTEM CHAPTER 2: LAW OF CONTRACT – FORMATION CHAPTER 3: LAW OF CONTRACT – TERMS CHAPTER 4: LAW OF CONTRACT – BREACH CHAPTER 5: LAW OF TORTS CHAPTER 6: LAW OF EMPLOYMENT CHAPTER 7: LAW OF AGENCY CHAPTER 8: PARTNERSHIP LAW CHAPTER 9: COMPANY LAW – LEGAL PERSONALITY & COMPANY FORMATION CHAPTER 10: COMPANY LAW – SHARE CAPITAL CHAPTER 11: COMPANY LAW – LOAN CAPITAL CHAPTER 12: COMPANY LAW – DIRECTORS CHAPTER 13: COMPANY LAW – OTHER COMPANY OFFICERS CHAPTER 14: COMPANY LAW – COMPANY MEETINGS AND RESOLUTIONS CHAPTER 15: COMPANY LAW – INSOLVENCY CHAPTER 16: CORPORATE GOVERNANCE CHAPTER 17: FRAUDULENT BEHAVIOUR APPENDIX AND INDEX OF CASES EXERCISES AND SAMPLE QUESTIONS ACCA STUDY GUIDE AND INDEX 5 7 27 41 51 61 71 85 93 105 129 145 155 169 177 185 195 205 217 245 307

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Introduction to the paper

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IN T R O D U C T I O N T O T H E P A P E R

AIM OF THE PAPER
The aim of the paper is to develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.

OUTLINE OF THE SYLLABUS
Business Law 1. 2. 3. 4. English Legal System Law of Contract Law of Tort Law of Employment Corporate Law 5. 6. 7. 8. 9. Law of Agency Partnership law Company law Corporate Governance Fraudulent Behaviour

ACCA’s Study Guide sets out the syllabus in detail – see page 308 of these Notes.

FORMAT OF THE EXAM PAPER
The syllabus is assessed by a three hour paper-based examination. The examination consists of: ● ● seven 10-mark questions assessing knowledge of the law, and three 10-mark scenario questions assessing application of the law.

ANALYSIS OF PAST EXAM PAPERS
D07 ELS Contract Tort Employment Agency Partnership Company Corporate Governance Fraudulent behaviour J08 D08 J09 D09 J10 D10 J11 D11

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Chapter 1

English legal system

SYLLABUS CONTENT (as set by ACCA’s study guide)
1.
a) b)

Court structure
Define law and distinguish types of law. Explain the structure and operation of the courts and tribunals systems.

2.
a) b) c)

Sources of law
Explain what is meant by case law and precedent within the context of the hierarchy of the courts. Explain legislation and evaluate delegated legislation. Illustrate the rules and presumptions used by the courts in interpreting statutes.

3.
a) b) c)

Human rights
Identify the concept of human rights as expressed in the Human Rights Act 1998. Explain the impact of human rights law on statutory interpretation. Explain the impact of human rights law on the common law.

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CHAPTER 1 – ENGLISH LEGAL SYSTEM

ANALYSIS OF PAST EXAM QUESTIONS
Pilot knowledge scenario D07 J08 D08 J09 D09 J10 D10 J11 D11

CHAPTER CONTENT DIAGRAM
THE ROLE OF THE COURTS IS TO DECIDE CASES BY INTERPRETING AND APPLYING THE LAW.

What are the types of law?

What are the civil courts?

Are there other methods of settling civil disputes?

What are the sources of law?

What is the doctrine of judicial precedent?

What are the rules of statutory interpretation?

What is the impact of the Human Rights Act 1998?

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CHAPTER 1 – ENGLISH LEGAL SYSTEM

CHAPTER CONTENTS
DISTINCTION BETWEEN CIVIL LAW AND CRIMINAL LAW ---------- 10 THE CIVIL COURTS ------------------------------------------------------ 11...
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