QUESTION: 149

Which of the following CANNOT be appointed as the sole director of a private company limited by shares?

(i) A person over the age of 70 years

(ii) A person under the age of 16 years

(iii) A private company limited by shares

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

Answer(s): D

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QUESTION: 150

Which of the following is incorrect in relation to remedies for breach of contract?

Equitable remedies are only available if the common law remedy of damages is inadequate.
A victim of a breach of contract may fail to recover damages if he has failed to mitigate his loss.
Damages cannot be recovered for losses over and above those arising naturally from the breach.
Contracting parties are bound by liquidated damages clauses so long as they are genuine attempts to pre-estimate the loss caused by a breach of contract.

Answer(s): C

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QUESTION: 151

A manager is consistently rude to a female employee and seems to have a low opinion of her ability, despite the fact that she is competent, works hard and is well liked by her peers. This is potentially an example of the ethical issue of:

Incompetence
Negligence
Discrimination
Conflict of interest

Answer(s): C

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QUESTION: 152

A advertised her motor car for sale in a local newspaper at a price of £5,000.

Which of the following is correct?

The advertisement is an invitation to treat.
The advertisement constitutes an offer which may be accepted by anyone who can pay the price.
If B telephones A and asks if he can pay by installments, his call would amount to a counter offer.
If C telephones A and offers £4,500, she has made a counter offer.

Answer(s): A

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QUESTION: 149

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QUESTION: 152