QUESTION: 49

Which of the following do CIMA members NOT have a specific duty to do?

Observe the highest standards of conduct and integrity
Uphold the good standing and reputation of the profession
Refrain from any conduct which might discredit the profession
Uphold the good standing and reputation of their employer

Answer(s): D

QUESTION: 50

Rank the following, starting with the highest court:

(i) Court of Appeal (Civil)

(ii) Supreme Court

(iii) County Court

(iv) High Court

(ii), (i), (iv), (iii)
(i), (ii), (iv), (iii)
(i), (ii), (iii), (v)
(ii), (iv), (i), (iii)

Answer(s): A

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QUESTION: 51

Which of the following statements is incorrect?

A person who signs a contract is deemed to have read it.
A person is assumed to know of a term of which he has been given reasonable notice at or before the time of the contract.
A person seeking to rely upon an onerous clause must show that he has taken sufficient steps to bring the clause to the other party's attention.
A person cannot be bound by an onerous clause.

Answer(s): D

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A is about to register a new company limited by shares, "A Ltd", in order to carry on a retail business. A has ordered a quantity of goods from a supplier "for and on behalf of A Ltd".
Which of the following is correct?

A Ltd is liable to pay for the order as soon as it is registered.
A is personally liable for the order.
The contract is void.
A Ltd can ratify the contract following registration.

Answer(s): B

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QUESTION: 49

QUESTION: 50

QUESTION: 51

QUESTION: 52