Legal Management MCQs

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Butterberry Limited is a company making yoghurts and other dairy products. It has been in existence for 12 years and has four shareholders who are als...






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Nina is the sole shareholder and director of Tarvin Limited. She owns 100 £1 shares, all of which are fully paid. The company goes into insolvent liq...






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Tangent Limited operates from premises which it leases. The directors have not personally guaranteed Tangent Limited's obligations under the leas...




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Which of the following business entities does NOT have separate legal personality?






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Which ONE of the following CORRECTLY describes the principle of "piercing the veil of incorporation"?






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David, one of the directors in Bourneport Limited, paid £20,000 for 4,000 £1 fully paid ordinary shares in Bourneport Limited. He also signed a pers...






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This question relates to the definition of 'subsidiary' under s1159 of the Companies Act 2006. Which ONE of the following is correct?






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Grants Limited is a wholly-owned subsidiary of Greenwear plc. Grants Limited is in financial difficulty and owes Barton Limited £100,000. Indicate w...




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Ian Gilford Transport Ltd ("IGT") is a distribution company whose assets include the remaining term of a 30 year lease of warehouse premises in Kent (...






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Gouache Arts Limited has three directors. The company's articles are based on the Model Articles with one amendment reading "Whenever the nu...




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Pacer Limited is a company with Model Articles. It has four directors, Alan, Brian, Carina and Danielle. Brian is also the chairman. Alan has called a...






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Which of the following is CORRECT, in a company with Model Articles of Association?






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Wagon Wheels Limited (WWL) is a private company limited by shares. WWL has three directors, Pauline (Managing Director), John (Finance Director) and W...






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Some decisions are taken by directors and others by shareholders. Consider the decisions below. A. Altering the articles of association. B. Changing...






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Alpins Skiware plc ("ASP") enters into an agreement with Northern Clothing Limited ("NCL") to purchase goods from NCL by instalmen...






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Which of the following is CORRECT? Assume that the company has the Model Articles of association.






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Egerton Limited ("Egerton") has four shareholders with ordinary voting shares. The shareholders are Charlotte (20% of the shares), Zara (50%...






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Which of the following is INCORRECT?






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Jake and Michael decide to import motorcycles from Europe to undercut expensive official dealers in the UK. Michael, who can speak French, goes to Fra...




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Jamie and Malcolm went into partnership earlier this year. Jamie provided 25% and Malcolm 75% of the capital needed to buy the partnership assets. Jam...






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John, Andrew and Robert have been in partnership together for 3 years and they have no partnership agreement. John has recently been declared bankrupt...




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Two years ago Adam, Rebecca and Kamal set up a partnership. Their agreement provides for income and capital profits to be shared in the same proportio...






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Liam and Daniel have been partners since 1990 in a garage trading as L & D Vehicle Repairs. They have no partnership agreement. They have always p...






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Nicola has helped her daughters Antonia and Chelsea establish a beauty therapist business by providing the necessary finance and by visiting the salon...






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Oliver, Henry and Michelle are in partnership supplying office furniture. On 26 February the firm enters into a contract to supply desks to a customer...






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Therese, Tim and Scarlet were partners until Therese left the business amicably, leaving Tim and Scarlet to carry on in partnership. There was no part...






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Which ONE of the following is correct? The nominal value of a share in a company refers to:






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Indicate whether the following statement is TRUE or FALSE: Under the CA 2006 the directors of all limited companies wanting to allot new shares must ...




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Which ONE of the following is correct? A company's issued share capital refers to:






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Which ONE of the following is not a consequence of failure to register a charge?





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Manage All Limited ("MAL"), which was incorporated on 10th January 2012, has an issued share capital which comprises only ordinary shares. P...






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Manage All Limited ("MAL") has an issued share capital which comprises only ordinary shares. In addition to subscribing for ordinary shares in MAL, Pi...






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Trescothick Ltd was incorporated in November 2012. The company uses unamended Model Articles (Model Articles of Association for a Private Company Limi...






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The articles of association of Bayer Limited ("Bayer") are the model articles for private companies limited by shares. Bayer proposes to borrow £5,50...