Explore key aspects of business law in 'A Short Business Law Test Quiz Part- II'. This quiz covers contract fundamentals, employment relationships, agency creation, and responsibilities of sole traders, assessing understanding of legal concepts in business.
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Partnerships
Public limited companies (plcs)
Private companies (Ltd).
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The buyer and seller will agree what is to be purchased and the price to be paid.
Employment is not a binding requirement.
Both of them will exchange something, this is termed consideration.
Both parties will intend that the transaction is legally binding.
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Memorandum of Association
Articles of AssociationOption
Statement of the personal details of the directors and their signed consents to act as directors.
Lease agreement
Address of the registered office
Statement of the capital of the company
Declaration of compliance which states that all the formalities of the Companies Act 1985 have been complied with
Registration fee.
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Rights
Powers
Interests
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Incapacity which prevents a partner acting as such, for example mental illness
Conduct by a partner which adversely affects the firm, for example a criminal conviction for dishonesty.
Collapse of trust between the partners or breach of the partnership agreement.
That the business can no longer be carried on at a profit.
That it is ‘just and equitable’ to dissolve the partnership.
If a partner becomes insolvent
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Quiz Review Timeline (Updated): Mar 22, 2023 +
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