QUESTION: 121

You work for a company based in a capital city that leases office space to other organizations. Which of the following corporate issues is not related to ethics or social responsibility?

The energy efficiency of the buildings that you rent out
Honest and transparent contracts with your customers
Whether your buildings provide a safe and secure environment for workers and visitors
Having the prestige of renting out some of a capital city's most famous landmarks

Answer(s): D

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A situation has arisen which will involve you participating in transactions which are legally correct but ethically unsound.

Which of the following is correct?

(i) It is not possible for a transaction to be both legal and ethically unsound.

(ii) As long as the transactions are legal you are acting properly in participating.

(iii) One of the purposes of ethical codes is to guide professionals as to how to behave even when the proposed transactions are legal.

(i) only
(ii) only
(iii) only
(i) and (ii) only

Answer(s): C

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QUESTION: 123

Which of the following is correct?

(i) All courts below the Supreme Court may refer a case involving European Law to the European Court of Justice for a preliminary ruling.

(ii) The Supreme Court must refer a case involving European Law to the European Court of Justice for a preliminary ruling.

(iii) An English court is not bound to give effect to a preliminary ruling of the European Court of Justice.

(i) and (ii) only
(ii) and (iii) only
(iii) only
(i) and (iii) only

Answer(s): A

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QUESTION: 124

A advertised his van for sale in the local newspaper at a price of £5,000.

In which of the following situations is a contract between A and B created?

B wrote to A accepting his offer to sell the van for £5,000.
B wrote to A and offered to buy the van at £4,800. B stated "if I hear no more from you in the next three days I shall assume that you agree to sell the van to me at that price." Three days have now passed and B has heard nothing from A.
B offered to buy the van for £4,800. A wrote to B accepting his offer. B wrote back stating: "payment will be made over three months."
B offered to buy the van for £4,500. A wrote to B accepting his offer but later changed his mind and sent an email to B withdrawing his acceptance. The email was read by B before he read A's letter of acceptance.

Answer(s): C

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QUESTION: 121

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QUESTION: 124