ACCA教材——F4 pilot paper Q;A 1

ALL TEN questions are compulsory and MUST be attempted
1Explain the meaning and effect of delegated legislation, and evaluateits advantages and disadvantages, and how it is controlled by bothParliament and the courts.(10 marks)
2 In relation to the contents of a contract explain the following:
(a) terms; (2 marks)
(b) conditions; (3 marks)
(c) warranties; (3 marks)
(d) innominate terms. (2 marks)
(10 marks)
3 In relation to the tort of negligence explain the meaning of ‘duty of care’. (10 marks)
4State the documents necessary and the procedure to be followed inregistering a public limited company and enabling it to starttrading.(10 marks)
5 In relation to company law explain and distinguish between the following:
(a) annual general meeting; (5 marks)
(b) extraordinary general meeting; (2 marks)
(c) class meeting. (3 marks)
(10 marks)
6 (a) Explain briefly what is meant by ‘corporate governance’. (4 marks)
  (b) Within the context of corporate governance examine the role of, andrelationship between executive directors and non-executive directors.(6 marks)
   (10 marks)
7 In relation to employment law, explain the operation of the rules relating to redundancy. (10 marks)
8 Aloperates a small business manufacturing specialist engine filters. InJanuary he placed an advertisement in a car trade magazine stating thathe would supply filters at £60 per filter, but would consider areduction in the price for substantial orders. He received a letter fromBash Cars plc requesting his terms of supply for 1,000 filters. Alreplied,offering to supply the filters at a cost of £50 each. Bash Carsplc responded to Al’s letter stating that they accepted his offer butthat they would only pay £45 per filter. Al wrote back to Bash Cars plcstating that he would supply the filters but only at the original priceof £50. When Al’s letter arrived, the purchasing director of Bash Carsplc did not notice the alteration of the price and ordered the 1,000filters from Al, which he supplied.
Required:
Analyse thesituation from the perspective of contract law and in particular adviseAl what price he is entitled to claim from Bash Cars plc. (10 marks)
9Flop Ltd was in financial difficulties. In January, in order to raisecapital it issued 10,000 £1 shares to Gus, but only asked him to pay 75pence per share at the time of issue. The directors of Flop Ltd intendedasking Gus for the other 25 pence per share at a later date. However,in June it realised that it needed even more than the £2,500 it couldraise from Gus’s existing shareholding. So in order to persuade Gus toprovide the needed money Flop Ltd told him that if he bought a further10,000 shares he would only have to pay a total of 50 pence for each £1share, and it would write
off the money owed on the original sharepurchase.Gus agreed to this, but the injection of cash did not save Flopand in December it went into insolvent liquidation, owing aconsiderable amount of money.
Required:
Explain any potential liability that Gus might have on the shares he holds in Flop Ltd. (10 marks)
10In January the board of directors of Huge plc decided to make a takeover bid for Large plc. After the decision was taken, but before it isannounced the following chain of events occurs:
(i) Slye a director of Huge plc buys shares in Large plc;
(ii) Slye tells his friend Mate about the likelihood of the take-over and Mate buys shares in Large plc;
(iii)at a dinner party Slye, without actually telling him about thetake-over proposal, advises his brother Tim to buy shares in Large plcand Tim does so.
Required:
Consider the legal position of Slye, Mate and Tim under the law relating to insider dealing. (10 marks)